62 min listen
587: Full-Time Flipping (Out-of-State!) at 24 by Doing What Most Don’t Know w/Dominique Gunderson
587: Full-Time Flipping (Out-of-State!) at 24 by Doing What Most Don’t Know w/Dominique Gunderson
ratings:
Length:
72 minutes
Released:
Mar 24, 2022
Format:
Podcast episode
Description
Forty real estate deals is a lot, especially for an experienced investor. How many people do you know that have done forty flips, wholesale deals, or own over forty rentals? Odds are, probably not many. So how does a nineteen-year-old do that many deals in only a year? Even better, how do they then take that experience and build a successful flipping business thousands of miles away from where they live? The answer might surprise you.Dominique Gunderson is an anomaly in the best of ways. At fifteen years old she became privy to short sales, then at age seventeen, she left high school to start wholesaling full-time. Now, at age twenty-four, she runs a full-time flipping business based in New Orleans while she resides in her home state of California. She’s managing this entire out-of-state real estate investing venture strictly through her phone, laptop, and conversations with her contractors. Impressive, right?But this level of speed and growth didn’t come without its tradeoffs. Dominique failed many, many times in her pursuit of passive income and real estate profits. She’s the first to admit that she wouldn’t trade a single failure for anything she has now, as they’ve been the stepping stones to her success. So if you want to stop sitting on the sidelines and start succeeding at record speed, you better prepare to fail, just like Dominique did.In This Episode We Cover:How to quickly screen for potential hidden gems in the multifamily spaceThe eight steps that lead to perfect multifamily underwriting so you can make the best offer possible“Loss to lease” and using it as a value-add opportunity that most investors missGetting debt quotes, insurance quotes, and accurately calculating future property taxesWho’s opinion you need to ask for before going through on a multifamily dealLooking for the opportunities and traps within a seller’s financesWriting an LOI (letter of intent) and getting bigger deals under contractAnd So Much More!Links from the ShowBiggerPockets ForumsBiggerPockets BookstoreThe Real Estate InvestHER Show Episode 170: How this Full Time Nurse Manages Multifamily Syndications with Savannah ArroyoFacebookAirbnbLowe's Home ImprovementThe Home DepotMLS (Multiple Listing Service)Connect with Dominique:Dominique's BiggerPockets ProfileDominique's InstagramCheck the full show notes here: https://www.biggerpockets.com/blog/real-estate-587See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.
Released:
Mar 24, 2022
Format:
Podcast episode
Titles in the series (100)
#6: Investing While Holding a Full Time Job with Arthur Garcia: Investing in real estate while holding a full time job may not always get the most discussion in the real estate investing world - but there are thousands (if not millions) of investors who do just that. On today's episode of the BiggerPockets... by BiggerPockets Real Estate Podcast