All Forum Posts by: Shiloh Lundahl
Shiloh Lundahl has started 249 posts and replied 2687 times.
Post: Funding for Trophy Property

- Rental Property Investor
- Gilbert, AZ
- Posts 2,815
- Votes 4,388
@Jeff S. not everyone's goals in real estate are the same. Not everyone has the goal of th highest yield. That may be your goal, but it may not be Colin's goal.
@Colin Eilts what would your goal with this property be. You mention preservation but if it is running currently as an STR than it is probably being preserved right now. Is it at risk of being demolished? What is it about this specific piece of property that you are drawn to? What about this property would others be drawn to to the point of wanting to invest so much for a low return? What would the investors get out of it?
Post: Training for Fix and Flips

- Rental Property Investor
- Gilbert, AZ
- Posts 2,815
- Votes 4,388
Hi @Tabitha Grant. I'm located in Gilbert, Arizona. I've done several flips. Where are you looking to flip and at what price point? There are lots of meet ups in Arizona to connect with other investors. There are the AZREIA meetings and I also host a meetup in Mesa, Arizona. Let me know if I can be of help.
Post: Did Brandon Turner really lose $14M of investor money while pocketing $4.4M???

- Rental Property Investor
- Gilbert, AZ
- Posts 2,815
- Votes 4,388
@James Wise I don't think Brandon's story isn't too unique right now. in 2020, 2021, and 2022 a lot of people were getting into multifamily investing. The evaluations were based on cap rate. Lots of people purchased multifamily and other larger projects during that time with the planned exit to refinance at 4%, 5% or 6%. The problem that I'm seeing right now is that the market has pulled back and is more hesitant to invest in real estate, making values go down. Additionally, with higher interest rates, it's keeping a lot of refinances from happening.
I'm not involved in this syndication so I don't know all of the moving parts or the expenses. But what I do know is that when people's expectations aren't met, they get pretty upset and then their mind goes to how they were swindled, or scammed, or how the person in charge didn't do their job.
I've met Branden and his family several times. There's a big difference between him and someone like Clayton Morris. I think Brandon is genuinely honest and has a lot of experience and connections in several areas of real estate. However, I don't think that he's at the level of someone like Ken McElroy, who lives in breathes multifamily real estate investing. But I also know that Branden is well connected with a lot of people like Ken and therefore has a lot of help and support when it comes to breaking into the multifamily market.
So I think that there may be some people trying to attribute nefarious reasons to a situation that may just be attributable to market conditions.
Post: Lender and Investor Intro!

- Rental Property Investor
- Gilbert, AZ
- Posts 2,815
- Votes 4,388
Post: Happy To Be Back

- Rental Property Investor
- Gilbert, AZ
- Posts 2,815
- Votes 4,388
Hey@James Nelson welcome back. It's always good to learn new things. I'd be interested in learning what you know about buying HUD homes.
Post: Real estate investor

- Rental Property Investor
- Gilbert, AZ
- Posts 2,815
- Votes 4,388
Hi Jacob, welcome to the BiggerPockets community. When starting out, I would encourage you to ask yourself a couple of questions to direct your learning.
1. What type of real estate interests me. It is hard to go in too many directions so I would encourage you to just pick one.
2. What are the resources you are starting out with. This will let you know where to start. If you don't have any of your own money then you will need to start a certain way and if you do then you have more options.
3. Where are you interested in investing. Local or distant?
Good luck to you and again, welcome.
Post: Today is the day things get going at BPCON 2025

- Rental Property Investor
- Gilbert, AZ
- Posts 2,815
- Votes 4,388
I am excited for BPCON2025 and I wanted to reach out to everyone going to see what you are most exited about and what you want to get out of the conference this year.
I will start. I am looking forward to meeting up with great investor friends that I have made through BiggerPockets and I hope to meet new ones.
What are you most excited about?
Post: Returning from the shadows!

- Rental Property Investor
- Gilbert, AZ
- Posts 2,815
- Votes 4,388
Hi Julio, I have some properties in Costa Rica and I go there 4-5 times a year to host retreats. (https://costaricaprivateresorts.com/). What type of real estate transactions are you looking to do from Costa Rica?
Post: Using an SDIRA to purchase property in Costa Rica

- Rental Property Investor
- Gilbert, AZ
- Posts 2,815
- Votes 4,388
Hi @Colin Charles. I own some properties in Costa Rica (https://costaricaprivateresorts.com/). I did not buy them with an IRA. I bought them with partners and we rent them out as small luxury private resorts. But I have learned a lot about real estate in Costa Rica. And I would say you can find seller financing deals there a lot since it is hard for foreigners to get loans there. Also, there are a few US companies that are offering loans there but I can't say if they are good because they have not given ma a loan yet. I don't think the SDIRA rout would work on foreign investments though.
Post: Staying in Real Estate or Bow Out

- Rental Property Investor
- Gilbert, AZ
- Posts 2,815
- Votes 4,388
Hey Kay, I know the pain of losing money. I have lost around 85k twice; and both times were fairly early in my investing career. One time was with a partner that was a bad operator and the other time was with a contractor who essentially stole $85,000. Was it painful? Yes. Did I learn from it and move forward? Yes.
Here is what I have learned over 15 years from both profits and losses. And I start off by saying that this is in no way an advertisement for myself or for any services. I say that because my answer here will have some bias because I am a coach, but this post is not self-promotion. I self-promote plenty in other ways.
First, I have probably made more money with manufactured homes on land than any other asset class. So the asset class is not the problem. When you are investing in manufactured homes you need to keep a few things in mind.
1. What year is the home? It is very hard to get financing on a manufactured home pre June of 1976. So find out the year and I would generally not buy manufactured homes before that unless they are very inexpensive, it is a good rental market, the property is in decent shape, and I can create seller financing for it.
2. Does it come with the land or is it rented land? The short of it is you want to own the land with it.
3. Has it ever been moved? It is hard to get financing on a manufactured home that has been moved. Although I moved a double-wide manufactured home from a park that I bought for 25k and I moved it (for 5k) onto a piece of land I bought for 20k and had them put it back together for a few thousand dollars. Also, I had to put in a well for the unit next door that cost 40k so I was able to lower my basis for the well by splitting it between 2 properties. Our all-in was about $80,000 and we got a loan on it from a private money lender for about $50,000 that we paid 10% on and we sold it for around $195,000.
4. How is the subfloor. Sometimes the subfloor can be bad and you have to replace a lot of it and it can be expensive if you are tearing apart the majority of the inside of the manufactured home. Also, sometimes a city will stop you if you remove an outside walls to repair it and they will make you basically condemn it as uninhabitable. We had that happen once.
5. You may need to get tie-downs before you can sell it depending on the location and the type of loan.
Last month I partnered with a guy. He was the money guy and I was the operator. We got a manufactured home (1981) from a wholesaler, we cleaned it up and painted the outside and did a few fixes for a total cost of between 7k and 10k. We sold it within a few months and made 20k each. https://www.zillow.com/homedetails/2945-W-9th-Pl-Apache-Junc...
So I don't think it was the asset class. People usually lose money in real estate for just a few reasons, 1) they overestimate what it should be able to sell for, 2) they underestimate the repair costs, 3) there is something just down right undesirable about the house or area, and 4) they didn't pay attention enough to the market itself (which is where a lot of people are struggling right now).
I don't know your particular deal, but it may not have been a good deal. I don't know. But what I would suggest to you is connecting with someone, possibly someone in your area that is making money in the type of real estate that interests you. Then taking them out to lunch and present the deal you did to them and ask them for feedback in what went wrong and if they would have done the deal or done something different with the deal.
I would venture to say that right now the market is chewing up a lot of novice investors leaving room for the more savvy and experienced investors to make the money. So connect with more experienced investors improve your results.
Good luck to you.