Speaker
Dominique Gunderson
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1 episodes
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Dominique Gunderson currently runs 10 to 12 flips simultaneously in New Orleans, demonstrating that flipping at scale is still very viable in 2026.
The margin for error in house flipping is now so small that even minor miscalculations can erase profit, exposing weaker investors over the past two years.
Dominique Gunderson estimates that 70 to 80 percent of her rehabs produce a surprise cost item of $10,000 or more, making contingency planning essential.
For fully-inspected rehab projects, Dominique recommends a 10% contingency on top of the estimated rehab cost to cover inevitable surprises.
For sight-unseen or limited-access property purchases, Dominique Gunderson recommends doubling the contingency to 20% of the estimated rehab cost.
Dominique Gunderson targets a minimum 15% return on total investment (purchase + rehab + closing costs) for every flip she underwrites.
By getting her real estate license in early 2025, Dominique saved at least 2.5% on commissions per deal, adding up to hundreds of thousands of dollars annually.
Dominique Gunderson got her real estate license in early 2025 and it changed her business. Saving 2.5% on every listing adds up to hundreds of thousands of dollars per year across a 10–12 flip portfolio. The bonus: direct buyer feedback that sharpens every future renovation decision.
Most flippers only budget for closing costs on the sale. That's only half the picture. Failing to account for purchase-side closing costs is one of the most common and costly underwriting errors, quietly eroding margins that were already razor thin.
Dominique Gunderson has found that 70 to 80 percent of her rehab projects produce a surprise cost of $10,000 or more. The key insight: this isn't bad luck, it's predictable. Knowing surprises are coming means you can budget for them — and a 10% contingency on a fully inspected project is the floor.
Contractors raise prices. Crew members disappear. Henry Washington's solution: always underwrite to market-rate renovation costs, never to the discounted rates your personal contractors give you. If you get the deal done cheaper, that's upside. If your guy bails, you're not underwater.
Both Henry Washington and Dominique Gunderson lost the most money in 2024, and looking back they found the same pattern on every bad deal: they wanted to buy the house too badly. Not because it was a great deal — because of FOMO, competitive pressure, or an internal need to keep the pipeline full.
Henry Washington uses a simple but powerful ARV framework: get a zone (high, mid, low) from an agent, then underwrite at the mid-to-low end. Factor in two price drops, $10k in closing cost assistance, and two extra months of hold time before making your offer. If the numbers still work, it's a deal.
The idea that house flipping is dead is flat-out wrong. What died is the forgiving, low-skill version — the era when even bad flippers made money. For disciplined investors, today's market is full of opportunity precisely because fearful competitors have stepped back.
Dominique Gunderson targets a 15% return on total investment as her minimum underwriting threshold. But she adjusts upward when she feels uncertain about the neighborhood, the layout, or when she already has great projects on her plate — a disciplined approach to deal selectivity.
Dominique Gunderson studies her market daily — tracking every new listing, identifying whether it's a flip or an organic sale, pulling photos to see what competitors did, and measuring days on market and closing-to-list price ratios. In a market with thin margins, this kind of intelligence is a genuine edge.
When confidence is anything less than total, Henry Washington prices below the best comparable listing, not at it. The goal: make buyers choose between a competitor's property and yours — where yours looks better AND costs less. You leave some money on the table, but you go under contract fast.
Henry Washington and Dominique Gunderson visited each other's markets and found radically different buyer expectations. Henry salvages cabinets on nearly every kitchen; Dominique can't remember the last time she did. Henry's bathrooms are dialed in; Dominique can often skip full tile work. The fundamentals of flipping are universal — but every execution decision is local.
In 2021, all renovated properties could be lumped together and priced similarly. Not anymore. Today's buyers are hyper-picky, rewarding only the highest-quality finishes and design. Using the top comp as your ARV when your product doesn't match it is the fastest way to lose money.
Henry Washington ties his profit target directly to his renovation budget. Spend $100k on rehab, need $100k in profit. Spend $60k, need $60k back. The logic: bigger renovations carry more risk, more moving parts, and more hidden surprises — so they should deliver proportionately more reward.
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