🔥 On this Real Estate Hustlers Podcast episode, we will be talking with Shiloh Lundahl an international real estate, investor and real estate coach. He’s been investing in real estate for the past 13 years and had built up a portfolio of over 250 units. He currently has around 180 units and he is focusing on improving his short-term rentals and running real estate investor retreats out of his properties in Costa Rica.
What actionable value will you provide to our listeners?
It encourages creative thinking in real estate investing.
Why lease options rather than normal rentals?
Ways to find good deals
The goal of real estate investing?
The lifestyle investment
Ways to take care of your properties out of state
What are you working on now and what are you looking forward to in real estate investing?
Key Takeaways
“And so I had to be strategic in either, what do you call it, propping up the branches, or I had to start taking off some of these peaches so it didn't break the branch and then I would lose all the peaches. Same thing goes in real estate investing. You got to be careful that as you're building and scaling a business that you do it according to what you can handle. Like this last year in 2020, we bought 100 units in mostly mobile home parks and multifamily, but a lot of single family homes. And then this last year, 2022, we bought an additional like 60 properties.”
“The homes are actually very low maintenance to manage because you bring in a tenant buyer, that tenant buyer takes care of the property. And we have in our lease agreement that if they take care of the property, then we give them $100 discount on rent. But if they ask us to come and take care of something then we actually will take away that discount. And so we have the normal rent. Let's say the normal rent is about $1,000. Then what we'll do with the lease option properties, we'll charge 1200.”
“Not a chiropractor, but I have uncles that are chiropractors, so it's really close. So with how I manage my properties is I have really good assistance. That's how I manage my properties. So we don't have a property management company here in Arizona because a lot of our properties are lease option properties. So we have our six small mobile home parks with 100 units in those parks. And then we have the commercial building that I have my therapy practice out of. And then we have about 50 single family homes that we sell on lease options.”
“Yeah, I wanted to touch on that. And I told you before the call, me and the wife are 100% interested in anything Costa Rica. If it's an excuse to go down there and visit the property and have time in a tropical environment, the beach, it's a win win. So it makes sense on all levels and including your retreat. You get educated, have an incredible place to visit, and check out the properties.”
“I bring them there, and they're with us for about six days. We spend time in each of the properties, and it's more of kind of a workshop. It's a retreat, but it's also a workshop where they bring their laptop in, and I will show them. This is how you build a team. This is how you find properties. This is how you make offers. And I just show them the basics of how to start building a portfolio. And people will come with different levels of investing experience.”
Connect with Shilol
LinkedIn: @Shiloh Lundahl
Facebook: Shiloh Lundahl
Instagram: Shiloh Lundahl
Connect with Josh Appelman:
Facebook: https://www.facebook.com/josh.appelman.108/
Facebook group: https://www.facebook.com/groups/realestatehustler
Linked in: https://www.linkedin.com/in/josh-e-appelman-97767973/
