All Forum Posts by: Shiloh Lundahl

@Mario Niccolini I am going to help make the decision easier for you. Pick whichever one that a mentor you have access to does. Top performing multifamily investors make money. Top performing single family investors make money. It isn't about the type of real estate you chose. That doesn't really matter. It's about being a top performer in what ever you chose. In order to do that, surround yourself with top performers. 

@Evan Cruz Yes, you can use both strategies. It is not difficult. First decide which type of house hacking you want to do. If you are single then it is even easier. Get on a bunch of wholesaler lists. Find a house that comes up on the wholesale list that has a lot of bedrooms and buy it as an investment property with a hard money loan. Then fix it up and force equity and then refinance it and move in a bunch of people to do a rent by the room model. Or, second option if you are not single, you could find a house on the wholesale list that can be divided into two units or a house that has a guest house and then fix it up and rent out one of the units and stay in the other. Simple. Let me know if you have more questions or would like the steps described in more detail. 

@Tony Pellettieri Interested deferred second position notes at 15% leveraging the properties at no more than 70% of the current value for 24 -36 months on properties you plan to sell during that time. Use the money only to stabilize assets and yourself. Don't buy any more assets until your reserves are filled again. It is possible to go broke by buying good deals. Don't let that happen to you. 

@Cristiana Rios we own three properties in Costa Rica. Where are your properties located?

@Don Konipol I think you and I are talking about different things. I'm specifically talking about mentorship and coaching.

From reading your posts it sounds like you're referring to real estate education programs. I believe some education programs market themselves as a coaching or mentorship programs. But I don't believe that they are.  I believe that they are education programs.

I agree with you that there are a lot of education programs that are high priced and not really well structured to help people get the most out of the education provided. They tend to be more focused on selling the program, then fulfilling the expectation. Basically, they give people information or access to information and they allow people to learn the information at their own pace or not. Often times the information is insufficient to really get good at it or protect yourself from the things that you don't know and thing that can get you into a lot of financial or legal trouble. 

I did an expensive $40,000 education program. And then I added a $25,000 coaching program on top of it and another $5000 program that increases your access to capital. Plus all of the travel costs and hotel costs at the seminars that I went to for a year. I'm pretty sure that the majority of people that went through that program did not do a lot with the information that they got. I think there were probably several of them that got up the courage to buy one or a couple of properties. And then there were probably a handful like myself that took the information and networked with people there and made over 50 times the cost of the tuition. But that was probably only a handful of us.

so I agree with you, the large education programs tend to be more expensive and tend to produce lower results. I think getting one-on-one coaching or small group coaching in a very specific niche of real estate by someone who is very good at that specific niche is a much better learning and growth environment compared to the large education programs that are out there. That is my opinion.

I think that mentors and coaches are fundamentally different.

Mentors are people that we look up to for a specific reason. they are people that we learn from based on our association or interaction with them. Sometimes our mentors don't even know that they are our mentors. Their most often not paid neither do they often have an obligation to a mentee. They live their lives in such a way, or do business in such a way, that others want to follow their lead, hoping to get similar results.

I have mentors on this website that may or may not know that they are my mentors. I have mentors in my life that may or may not know that they are my mentors. I've never asked them to be my mentor and they have never offered. I have just sought opportunities to interact with them and to be near them to learn and better myself from those interactions. 

A coaching relationship is fundamentally different. There are expectations on both sides. The coach expects to be compensated for his or her time in working with the student. The student expects to have access to the coach, according to the coaching agreement.

The student understandably expects to get better results through the coaching program than they would get if they were doing it on their own.

The frustration usually comes in when the expectations of the coach or the student are not met.

I think that there is a place for mentoring and a place for coaching. I think both can have tremendous value and I have received value from both types of relationships.

It's hard for me to understand posts on BiggerPockets that are negative towards coaching or mentoring. Help me understand what it is that I am missing here.

@Eric DeNardo I would be happy to share some information about my experience investing in Costa Rica. I'm only one person. I know there are lots of other perspectives, but I can share with you mine. But first, I'd like to know where you're starting from. That will help me know what level to explain things. What is your experience with investing in vacation rentals or other real estate investments?

Hey@Eric DeNardo. I have 3 vacation rentals in Costa Rica and a piece of land where we will be building another one near the beach. What type of information are you looking for? 

I actively buy real estate in Arizona. What are your goals and the strategies that you was to use?

I have purchased 3 properties in Costa Rica. I love the properties and the are all profitable. But I make more money on my US properties. 

There are different laws and nuances that you would consider when buying in a different country. I would encourage you to pick a country and then do the research on the way to buy real estate in that specific country.