How to Succeed Flipping Houses Out of State with Dominique Gunderson
In this episode of Zen and the Art of Real Estate Investing, Dominique Gunderson shares how she achieved financial independence through real estate investing in her 20s, finding opportunities beyond her local market. At just 26 years old, Dominique has mastered flipping homes and building a lucrative portfolio, all while based in Colorado Springs and investing in New Orleans. She is inspirational for investors looking to break into competitive real estate markets by thinking outside the box and seizing opportunities in affordable locations.
Skipping college after high school, Dominique immersed herself in real estate by working with a real estate agent. She eventually transitioned to wholesaling to build capital before venturing into home flipping in New Orleans. You’ll hear Dominique's strategic decision-making processes, from choosing New Orleans as a prime market to navigating increasing insurance rates and market fluctuations. Dominique shares how her deals provide financial and time freedom for herself and her husband and how she leveraged social media to establish credibility and forge relationships.
Jonathan and Dominique further explore:
New Orleans made sense as an investment market for Dominique because her father lives there with his wife, it’s affordable, and she has someone there on the ground she knows and trusts.
Hurricanes and major weather events have heavily impacted insurance rates in the New Orleans market, and she has to account for that in her transactions.
Social media has been crucial to building credibility with private lenders and establishing business relationships.
It took about five deals before Dominique realized that if she wanted to keep going and scale, she would need more money than her own available cash. That meant she had to learn about private capital.
Dominique Gunderson is young, but with years of experience under her belt at just 26, she has a lot to teach other investors about flipping homes and scaling their businesses.
If you want to learn more about Zen and the Art of Real Estate Investing Podcast, check out http://www.trustgreene.com/podcast/zen/125 .