All Forum Posts by: Dominique Gunderson

@Sean O'Keefe thanks for the insights! I've seen your responses on several threads on here, do you do paid consultation sessions for people to basically pick you brain on certain business specific questions they have? I am looking to do that with someone who is a tax expert with real estate investors.

Looking to see if anyone has some entity structure advice for my situation. I currently own an scorp that holds all of my fix and flip projects (this comes out to about 20ish flips per year). I have a couple properties right now that my scorp owns and completed a renovation on, but now I’d like to keep them as rentals instead of sell. 

I know I need to keep the long term holds separate from the scorp flips but wanted to know what’s the best entity to set up for holding the rentals? Should it be a sub entity of my scorp or completed separate? And how do I go about transferring the properties out of the scorp into whatever new entity I set up to hold the rentals? 

Any insight is much appreciated! 

@Laura Dalla Algiers is a cool area, very up and coming. There's a lot of really old house there with awesome character so a lot of people are buying and renovating there. But I'm pretty sure there are quite a lot of rentals there, I've seen a lot of side by side duplexes that people rent out. 

I'm not sure exactly what defines the Westbank, but I always just kind of considered it all the cities on the West side of the river from the city, like Harvey, Gretna, Marrero, Westwego, Algiers, Terrytown, etc. Those are the cities I've considered for investing, however I'm only doing flips right now, so I can't say how it would be for rentals. 

My dad lives on the ground out there and he was the first person I added to my team to help manage the  flips because obviously I could trust him. From there I also added a few contractors that I've met throughout different projects as well as a realtor that is quite successful in the area. I don't have a property manager right now as I don't have rentals but I would suggest one if you plan to build a portfolio there.

Hey Laura, 

I currently live in Los Angeles and invest in NOLA from afar. I have some people on the ground helping but I've loved the market so far. I haven't invested near the city yet, I'm buying across the river from the city in an area known as the Westbank. That's been an area I've really liked. Currently I'm doing flips there and looking to begin buying rentals this year.

I pay attention to the price here very closely and at least for this particular area, rent prices compared to purchase prices are extremely high. From what I've seen it's not difficult to find a deal where the mortgage is about half of what you could rent it for. Of course you'll pay a little more than the mortgage if you have a manager and if there's any vacancy or repairs that come up, but still the rent is fairly high and purchase prices are fairly low.

Curious if anyone knows any strategies for funding low dollar deals with hard or private money? 

Currently I am flipping properties with low purchase prices (from $20k-60k), and fairly high rehabs (from 40k-70k), and reselling in the $115,000-130,000 range. I’m using all cash to buy and rehab right now but would like to start leveraging my funds with hard or private money. I really like the niche that I’m working in, but most companies I’ve spoken to have a minimum loan amount of $75,000 or $100,000 though, so I haven’t found anyone I could take a hard money loan with yet. 

Any ideas or suggestions at ways to fund low dollar projects like this, other than cash? 

I'm a flipper in the New Orleans area, more specifically on the Westbank. I'm doing a flip right now that I bought on the MLS, but lately I'm noticing less and less investment inventory coming up on the MLS, so I want to do a mailing campaign to target more sellers.

I was curious if anyone knew a good software to use to pull records for mailing campaigns? I'm looking for something that you can pull mass lists with a search by zip code or city, with criteria such as year built, home size, etc. Also looking to be able to export that list to an excel spreadsheet. Would like to have the owners living address as well as the property address, if different. 

If anyone has any suggestions of companies that have data for this area, that would be awesome. Thank you!

@James Wachob and @Raul Garcia Thank you for replying! Unfortunately, we had to back out of all the deals we had going in Memphis, because we were not able to assign them to an end buyer.

Thank you guys for your advice!

@James Wachob

Does anyone know the best site to get an accurate ARV estimate, specifically for investing in Memphis? I've several different sites, and they all give very different numbers. Not sure which one to trust?