587: Full-Time Flipping (Out-of-State!) at 24 by Doing What Most Don’t Know w/Dominique Gunderson 01:12:22

    <p><strong>Forty real estate deals </strong>is a lot, especially for an experienced investor. How many people do you know that have done forty flips, <a href="https://www.biggerpockets.com/blog/find-real-estate-wholesale-deals">wholesale deals</a>, or own over forty rentals? Odds are, probably not many. So how does a <strong>nineteen-year-old </strong>do that many deals in only a year? Even better, how do they then take that experience and <strong>build a successful flipping business thousands of miles away</strong> from where they live? The answer might surprise you.</p><p><a href="https://www.biggerpockets.com/users/dominiquelux"><strong>Dominique Gunderson</strong></a> is an anomaly in the best of ways. At fifteen years old she became <strong>privy to </strong><a href="https://www.biggerpockets.com/glossary/short-sale"><strong>short sales</strong></a>, then at age seventeen, she<strong> left high school to start wholesaling full-time</strong>. Now, at age twenty-four, she <strong>runs a full-time flipping business</strong> based in New Orleans while she resides in her home state of California. She’s managing this entire <a href="https://www.biggerpockets.com/blog/out-of-state-real-estate-investing-pros-cons"><strong>out-of-state real estate investing</strong></a> venture strictly through her phone, laptop, and conversations with her contractors. Impressive, right?</p><p>But this level of speed and growth didn’t come without its tradeoffs. <strong>Dominique failed many, many times i</strong>n 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.</p><p><strong>In This Episode We Cover:</strong></p><p>How to quickly <strong>screen for potential hidden gems </strong>in the multifamily space</p><p>The <strong>eight steps that lead to perfect multifamily underwriting</strong> so you can make the best offer possible</p><p>“<a href="https://www.biggerpockets.com/blog/2014-08-05-loss-lease-definitive-guide">Loss to lease</a>” and using it as a <strong>value-add opportunity</strong> that most investors miss</p><p>Getting <strong>debt quotes</strong>,<strong> insurance</strong> quotes, and accurately <strong>calculating future </strong><a href="https://www.biggerpockets.com/blog/rookie-podcast-78"><strong>property taxes</strong></a></p><p>Who’s opinion you need to ask for <strong>before going through on a multifamily deal</strong></p><p>Looking for the<strong> opportunities and traps </strong>within a seller’s finances</p><p>Writing an <strong>LOI (letter of intent)</strong> and getting bigger deals under contract</p><p>And <strong>So </strong>Much More!</p><p><strong>Links from the Show</strong></p><p><a href="https://www.biggerpockets.com/forums">BiggerPockets Forums</a></p><p><a href="https://store.biggerpockets.com/">BiggerPockets Bookstore</a></p><p><a href="https://art19.com/shows/the-real-estate-investher-show/episodes/f5448e36-4baf-4848-addf-9643c0016a2b">The Real Estate InvestHER Show Episode 170: How this Full Time Nurse Manages Multifamily Syndications with Savannah Arroyo</a></p><p><a href="https://www.facebook.com">Facebook</a></p><p><a href="https://www.airbnb.com/">Airbnb</a></p><p><a href="https://www.lowes.com">Lowe's Home Improvement</a></p><p><a href="https://www.homedepot.com">The Home Depot</a></p><p><a href="https://www.mls.com/">MLS (Multiple Listing Service)</a></p><p><strong>Connect with Dominique:</strong></p><p><a href="https://www.biggerpockets.com/users/dominiquelux">Dominique's BiggerPockets Profile</a></p><p><a href="https://www.instagram.com/dom_flips_nola/">Dominique's Instagram</a></p><p><br></p><p>Check the full show notes here: https://www.biggerpockets.com/blog/real-estate-587</p>
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