287: Putting Together Real Estate Deals Using Creativity Instead of Cash with Shiloh Lundahl

BiggerPockets Real Estate Podcast

BiggerPockets

Education, Business, Investing

4.8 • 16.5K Ratings

🗓️ 12 July 2018

⏱️ 84 minutes

🔗️ Recording | iTunes | RSS

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Summary

How much money does it take to invest in real estate? Is there really such a thing as “no- or low-money down?” After you hear today’s interview, you’ll know the truth! Today we sit down with Shiloh Lundahl, a real estate investor who specializes in putting together deals using a variety of different no- and low-money strategies in some pretty unique combinations. From utilizing business lines of credit, to bringing in partners, to hard money, to lease options and beyond, this episode will give you tons of ammunition for your own creative finance deals. And don’t miss the incredible strategy that Shiloh uses today to make 300 percent more per deal than if he were to flip the home. It’s pretty darn fantastic! In This Episode We Cover: How Shiloh started his real estate investing journey The book that helped him heal Details about his first property Office hacking and subleasing a sublease His first flipping deal — $30K turned to $195K How he bought his dream car Losing $5K on his first flip A hack with city inspectors The importance of needing an assistant The six different strategies he uses creatively Moving to a lease-option model Getting $800K in business lines of credit Lease options and how he uses them Selling properties 5–7 percent higher than the current ARV Explaining lease option through videos And SO much more! Links from the Show BiggerPockets Forums BiggerPockets Bookstore BiggerPockets Webinar BiggerPockets Landlord Forms BiggerPockets Pro Dave Ramsey BiggerPockets Podcast 275: Buying 300 Homes While Working a Full-Time Job with Attorney Rob Oliver Lease Option Video Books Mentioned in this Show Long Distance Real Estate Investing by David Greene Rich Dad, Poor Dad by Robert Kiyosaki Rich Dad’s CASHFLOW Quadrant by Robert Kiyosaki The Book on Investing with Low or No Money Down by Brandon Turner The Richest Man in Babylon by George S. Clason Shoe Dog by Phil Knight Fire Round Questions I’m a little confused between lease option, lease purchase, and subject to. Doesn’t the existing financing stay in place for all three? Have you ever done a lease option agreement with seller for 6 months and lease option the property to buyer for 3 months? Lease Option Contract vs Rental Agreement & separate Option Agreement Am I crazy for considering a lease option to get out from under a low performing property? When you are lease optioning homes to tenants/buyers, what percentage actually end up exercising the options? Tweetable Topics: “Frustration comes from unmet expectations.” (Tweet This!) “Each deal I learn quite a bit from it.” (Tweet This!) Connect with Shiloh Shiloh’s BiggerPockets Profile Shiloh’s Company Profile Learn more about your ad choices. Visit megaphone.fm/adchoices

Transcript

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0:00.0	This is the BiggerPockets Podcast, Show 287.
0:05.0	You know, I didn't know the numbers very well at the time and I ended up losing about $5,000 on my first deal by myself.
0:13.2	So again, there's still that learning curve.
0:15.8	And so, you know, just to kind of give a brief overview,
0:18.9	2015, we do three flips.
0:21.4	My net profit, mine was about 17,000. It wasn't a whole lot, but I was learning
0:26.7	each deal I learned quite a bit from. And then in 2016, we do six flips. We buy some rental properties out in Indianapolis and then we also did this one
0:37.9	seller finance deal. You're listening to Bigger Pockets Radio simplifying real estate for investors large and small.
0:45.0	If you're here looking to learn about real estate investing without all the height,
0:49.0	you're in the right place.
0:51.0	Stay tuned and be sure to join the millions of others who have benefited
0:55.4	from bigger pockets.com. Your home for real estate investing online.
1:01.3	What is going on everyone? This is Brandon Turner today's host of the BiggerPockets
1:05.2	podcast here with my partner in crime Mr David Green. How you doing buddy?
1:11.0	I'm doing great. I'm actually getting on a plane tonight as soon as we're done here to fly to Las Vegas
1:17.0	I got invited to speak on a panel of long distance investors out there at a big conference that we're gonna be be having. That ended way more lame than I thought.
1:24.0	I was thinking Vegas and going to go and throw some money away.
1:28.0	Panel.
1:29.0	No. I put all my money into real estate.
1:31.0	I do not put it into gambling, casinos, roulette, none of that.
1:34.0	I don't gamble, I only invest in Bitcoin.
1:36.0	Yes.
	...

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