On the BiggerPockets Real Estate Podcast, co-hosts David Greene and Rob Abasolo interview real estate investors and entrepreneurs about successes, failures, and hard-earned lessons. Through in-depth conversations, 1-on-1 listener coaching calls, and news analysis, you’ll get a breakdown of real strategies that work for different niches and experience levels. Tune into the #1 real estate investing podcast every Monday, Wednesday, and Friday.
https://www.biggerpockets.com/podcasts/real-estate
episode 287: Putting Together Real Estate Deals Using Creativity Instead of Cash with Shiloh Lundahl
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
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