100+ Real Estate Deals in 10 Years!? Here’s How

TL;DR

Dominique Gunderson shares her journey and strategies in real estate flipping.

Transcript

today's guest didn't just start young she started really young Dominique dove into real estate at just the age of 17 learning by doing rather than simply studying and her action oriented approach has paid off she started with wholesaling in Los Angeles completing an impressive 40 plus deals in a year and a half and then expanded into long distant f... Read More

Key Insights

• Dominique Gunderson started her real estate journey at 17, focusing initially on wholesaling in Los Angeles, completing over 40 deals in 18 months.
• She transitioned to long-distance flipping in New Orleans due to the high costs in Los Angeles, leveraging her family connections in the area.
• Dominique emphasizes the importance of building a reliable team for long-distance flipping, stating that communication and referrals are key.
• She uses private money for funding her flips, offering investors a 12% annualized return with a 12-month term, and highlights the importance of building relationships.
• Dominique manages multiple projects remotely, visiting New Orleans every two months to oversee progress, emphasizing the need for a trustworthy team.
• In response to market changes, she shifted from entry-level flips to slightly higher-end properties to attract more qualified buyers.
• For properties that don't sell, Dominique employs the BRRRR method, turning them into rentals to maintain cash flow.
• Her advice for new investors includes the necessity of visiting and understanding the market and building strong, local relationships.

Questions & Answers

Q: How did Dominique start in real estate?

Dominique Gunderson started in real estate at the age of 17 by becoming a real estate agent in Los Angeles. She transitioned to wholesaling after two years, completing over 40 deals in 18 months, which laid the foundation for her successful real estate career.

Q: Why did Dominique choose New Orleans for flipping?

Dominique chose New Orleans for flipping due to the high costs of properties in Los Angeles and her family connections in New Orleans. This allowed her to have a local advantage in building a team and understanding the market, essential for successful long-distance flipping.

Q: How does Dominique manage long-distance flipping?

Dominique manages long-distance flipping by building a reliable team, maintaining regular communication, and visiting the site every two months. She leverages her team for on-ground tasks and uses technology for remote management, ensuring that projects stay on track.

Q: What funding strategy does Dominique use for her flips?

Dominique uses private money for funding her flips, offering a 12% annualized return with a 12-month term. She emphasizes building relationships with investors and providing them with a clear understanding of the investment process to secure funding for her projects.

Q: How has the market affected Dominique's flipping strategy?

Market changes, particularly rising interest rates and insurance costs, led Dominique to shift from entry-level flips to slightly higher-end properties. This strategy targets more qualified buyers, ensuring that her properties remain appealing and sellable in a fluctuating market.

Q: What is Dominique's exit strategy for unsold properties?

For properties that don't sell, Dominique employs the BRRRR method, converting them into rentals. This approach allows her to maintain cash flow and recycle her investment, ensuring that her capital remains productive even when market conditions are challenging.

Q: What advice does Dominique offer to new long-distance flippers?

Dominique advises new long-distance flippers to visit their chosen market to understand its nuances and build strong local connections. She stresses the importance of having a reliable team and maintaining communication to manage projects effectively from afar.

Q: How does Dominique estimate rehab costs remotely?

Dominique estimates rehab costs remotely by leveraging her team's assessments and using historical data from previous projects. She focuses on major systems and uses consistent materials and labor pricing across projects, ensuring accurate and reliable cost estimations.

Summary & Key Takeaways

• Dominique Gunderson began her real estate career at 17, quickly mastering wholesaling in Los Angeles before moving to long-distance flipping in New Orleans. She has completed over 100 deals in a decade, showcasing her expertise in various strategies.

• Her success is attributed to building a strong team, leveraging private money for funding, and continuously adapting to market changes. Dominique stresses the importance of communication and relationships in the real estate business.

• Dominique advises new investors to visit their chosen market and build local connections. She shares her experience in using the BRRRR method for properties that don't sell, ensuring steady cash flow and investment growth.