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Investors Mike Goris and Kevin Hart doubled their revenue by increasing deal size in Louisville real estate.
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They are moving from house flipping to BRRRR strategies, which provide a more predictable exit.
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Moving away from the flip is not about retreating, but about adapting to market slowdowns and prioritizing long-term stability.
After closing more than 50 deals last year, real estate investors Mike Gorius and Kevin Hart aren’t slowing down, but they’re changing tack.
In 2025, the two companies closed roughly the same number of deals as the year before, while growing in scale and nearly doubling revenue.
“We may only do a few more deals than we did in 2024, but our deal size has almost doubled,” Goris told Business Insider. “Last year we did about 52 transactions and the total revenue was about $500,000. This year, we did 54 transactions and the total revenue was just over $1 million.”
By 2026, major Louisville business partners say they will abandon the strategy that helped them start their real estate businesses: flipping.
“By 2026, we expect to have fewer flips,” Goris said. “Unless it’s an absolute home run, it doesn’t make sense in this market.”
Hart and Goris said their market has cooled significantly, making it difficult to expect a quick exit.
“The market has fallen significantly since September or so,” Hart said. “In Louisville, we’ve gone from about 2,500 homes for sale to almost 3,900. The days on market have tripled and are now over a month and sometimes two months.”
The economic slowdown has made it even more important for them to get a good deal on the front end, he adds: “If you pay too much for a property, you’re not going to get 10 offers in the first 24 hours. It could sit on the market for a month because you overpriced it, and then the price will keep falling. So you really have to make sure you’re buying at the right price.”
Gorius and Hart plan to focus more on the BRRRR project in 2026 rather than relying on flipping.
The BRRRR strategy, short for buy, rehab, rent, refinance, repeat, involves renovating the property, renting it out, and then refinancing to extract capital—ideally recouping most or all of the initial investment while retaining ownership of the asset.
This approach is not without risks. Hart points out that you still have to make sure your numbers are valid and deliver the value you expect: “From the outset, you still have the risk of recovery and the risk of running the right costs to make sure you’re actually getting a good estimate.”
