All Forum Posts by: Andrew Gunther

Hello BP,

One of my Grandparents recently passed away and my Mother is inheriting a nice sum of money. They have talked with me of possibly funding some of my deals going into the future. My initial thoughts are that we would find BRRRR deals that I could refinance out of and get my parents their capital back + interest. We thought that they would be more along the lines of a silent investor just putting up funds and I use my connections and deal finding skills to do all of the work.

With that said I am wondering what the lifecycle of private money looks like. By this I mean how do they actually fund the deals (is escrow involved as a third party to hold funds?), what is a standard return look like for a private money investor, what forms would your recommend we get from a real estate attorney, and what legal entities are recommended for this?

I would also like to get some insight on what a refinance would looks like for something like this. Assuming we pay cash for the property and the rehab, how would I go about refinancing. I have recently started a mobile auto detailing llc out of college that has been a side hustle for the past few years. I do not have the two years of self employment tax returns that are required for most new home loans or any W-2 income since 2015 as I was in school and not working a regular job. Would I be able to refinance or what would my options be? I do not want to to move forward with them just to find out that they will be stuck with a property and cannot get out of it because of my financial situation. I have excellent credit, just not much paycheck history.

Thanks!

Andrew Gunther

Hello BP,

One of my Grandparents recently passed away and my Mother is inheriting a nice sum of money. They have talked with me of possibly funding some of my deals going into the future. My initial thoughts are that we would find BRRRR deals that I could refinance out of and get my parents their capital back + interest. We thought that they would be more along the lines of a silent investor just putting up funds and I use my connections and deal finding skills to do all of the work.

With that said I am wondering what the lifecycle of private money looks like. By this I mean how do they actually fund the deals (is escrow involved as a third party to hold funds?), what is a standard return look like for a private money investor, what forms would your recommend we get from a real estate attorney, and what legal entities are recommended for this?

I would also like to get some insight on what a refinance would looks like for something like this. Assuming we pay cash for the property and the rehab, how would I go about refinancing. I have recently started a mobile auto detailing llc out of college that has been a side hustle for the past few years. I do not have the two years of self employment tax returns that are required for most new home loans or any W-2 income since 2015 as I was in school and not working a regular job. Would I be able to refinance or what would my options be? I do not want to to move forward with them just to find out that they will be stuck with a property and cannot get out of it because of my financial situation. I have excellent credit, just not much paycheck history.

Thanks!

Andrew Gunther

I just purchased a single family rehab home in the Vancouver area. We are planning on renting out the home and converting the detached garage into an ADU. When it is all said and done we should net ~$1000/mo. in cash flow. I feel as though value add is the name of the game right now. Especially in unfinished basements and ADUs like I am doing.

Hello all,

My name is Andrew Gunther and I am a 20 year old from the Vancouver Washington area currently going to school for Finance and Marketing at Northern Arizona University in Flagstaff, Az. Ever since I can remember I have never liked the thought of working for somebody else. During my sophomore year of high school I created my first profitable business in the auto industry. I now run a successful auto detailing business in two states with numerous return customers and 5 star reviews. I still run my business today and am fortunate enough to have it travel with me to and from school.

Before my entrepreneurial side got stared, I worked at Domino's Pizza in Vancouver, Wa. I was first introduced to the power of real estate while working there. I was junior in High School. Between work and school, I got a first hand glimpse at what the housing situation is like for lower middle-class areas. As I got closer to graduation, I saw my peers start looking for places to rent and the prices they would tell me were equal to if not more than a mortgage payment! Being an entrepreneur that I am, I saw these prices and the high demand for housing and I have made it my goal to have my first multifamily by the time I graduate college. 

I first made my Bigger Pocket account when I came to NAU and I have been lingering in the comments section ever since. I have listened to the majority of the podcasts and have picked up a few books as well. I am interested in multifamily investing, BRRRR investing, and short term fix and flips.

I love meeting new people and discussing real estate! If anybody is in the Flagstaff area and would like to meet up or just chat please feel free to reach out. 

See ya around,

Andrew Gunther :)