🎙️ Local Real Estate Developers
Oct 6, 2026 · 54 min · 12 segments
What happens when a small-town investor sees opportunity in a property everyone else overlooked? Eddie Gonnella started investing in 2019 with small BRRRR deals, a foreclosed house, and a $75K tax…
Kristi KandelHost
Well, and I ask that because we literally have 16,000 communities in the United States that have a population of less than 10,000 people.
And quite frankly, you have to be the one doing it because outsiders have no idea what that community is or the value of it, but you as the local do know.
Literally, at the two meetups we've already had so far for local developers, We bring in the city officials and like this last one was Louisville and that's a bigger community.
And like the ones in Michigan and the U.P. said, come in early and talk to us.
So like they're they will give you free information essentially to to help you navigate that, which is.
So for this one in the expansion, do you foresee bringing in a partner or do you think at this point, you're like, nope, I've got it under control.
Is this something I guess, do you, and also thinking now I'm going a little bit bigger picture, you've already got the ops that can expand.
Do you want to go bigger than this to where it makes sense to bring a partner in? Or are you like, no, this is exactly my wheelhouse.
Yeah, I think what's been great about building out the team is once you have those people in place, you can expand.
And so we definitely have the capacity to do more and don't really need to necessarily bring in partners at this point.
The goal will be to use construction financing from the bank and then eventually refinance the two lots together.
And so based on the NOI of the two lots together, be able to refinance and that will help pull out the money after the investment.
And so that gives me a little bit of wiggle room because the lower resort performs really well.
Well, and I ask that because we literally have 16,000 communities in the United States that have a population of less than 10,000 people.
And quite frankly, you have to be the one doing it because outsiders have no idea what that community is or the value of it, but you as the local do know.
Literally, at the two meetups we've already had so far for local developers, We bring in the city officials and like this last one was Louisville and that's a bigger community.
And like the ones in Michigan and the U.P. said, come in early and talk to us.
So like they're they will give you free information essentially to to help you navigate that, which is.
So for this one in the expansion, do you foresee bringing in a partner or do you think at this point, you're like, nope, I've got it under control.
Is this something I guess, do you, and also thinking now I'm going a little bit bigger picture, you've already got the ops that can expand.
Do you want to go bigger than this to where it makes sense to bring a partner in? Or are you like, no, this is exactly my wheelhouse.
Yeah, I think what's been great about building out the team is once you have those people in place, you can expand.
And so we definitely have the capacity to do more and don't really need to necessarily bring in partners at this point.
The goal will be to use construction financing from the bank and then eventually refinance the two lots together.
And so based on the NOI of the two lots together, be able to refinance and that will help pull out the money after the investment.
And so that gives me a little bit of wiggle room because the lower resort performs really well.
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