Tom Dunkel: Building Your Life Plan Before You Build Your Business Plan

In this episode of Burning the Ships, I sit down with Tom Dunkel — managing principal of Eagle Capital Investments, co-founder of U.S. Mortgage Resolution, self-storage investor, and a guy who spent ten years in corporate mergers and acquisitions before getting fired in 2006 and never looking back.

Tom walks us through a career that started with aerospace deals and Harvard MBAs in DC, ran through a firing that turned out to be the best thing that ever happened to him, and evolved into a 20-year entrepreneurial journey that has generated close to $70 million in revenue. From wholesaling to distressed mortgage debt to a $55 million self-storage portfolio, Tom and his business partner Joe have built and rebuilt multiple times — and learned hard lessons each time about niching down, building teams, and creating a business that works without you.

Key Talking Points of the Episode

00:00 Why niching down is the difference between businesses that succeed and ones that fail

01:41 Tom's background — William and Mary, corporate M&A, and the aerospace industry

03:21 Building financial models and raising capital alongside Harvard and Wharton MBAs

04:27 Getting fired in 2006 and why his ships were probably burned before that anyway

05:07 Having a wife and two young kids at home when the decision was made for him

05:53 Getting his face bashed in through the Great Recession as a brand new entrepreneur

06:20 Building U.S. Mortgage Resolution into a business that generated nearly $70 million

13:22 Walking out of a dream job interview because a voice in his head said don't do it

23:42 Discovering discounted mortgage notes and how his finance background made it click