What is your Favorite Lifestyle Investment

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Pat L.
Rental Property Investor · Upstate, NY · Member since 2012 · 3k+ posts · 3k+ votes
3y

As we were pulling back from the demands of a large portfolio, my wife said she always wanted a Lakehouse. So we lucked into one back in 2015, where the retired sellers had committed to a new home & were strung out with 2 mortgages, so we low balled them. It was a very rough, very rustic, one bed, one bath, 1970's era, well built structure. 

We spent 2 years stripping it to the studs, rewiring, re-plumbing & opening it up into 4 bedrooms, 2.5 baths & a new 23x12 kitchen overlooking the Lake & the daily sunrises/sunsets. We literally did it all the work ourselves.

It has been an amazing experience, especially the lifetime memories our grandkids are experiencing, as they still beg to go EVERY summer weekend.

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  • Ben Firstenberg
    Investor · Cleveland · Member since 2021 · 247 posts · 240 votes
    3y

    I'm not sure if raw land counts as a "lifestyle" property, but I do love the idea of investing in land. Even if it's way out in the middle of nowhere.

    0Reply
  • Shiloh LundahlPro Member
    OP
    Rental Property Investor · Gilbert, AZ · Member since 2016 · 3k+ posts · 4k+ votes
    3y

    I guess it depends on what you plan on doing with the land? If you bought the land in order to enjoy the land, and it adds value to your lifestyle, then it would be a lifestyle investment. If it’s just a flipping or an appreciation investment play that is focused on getting a return, then it would probably just be categorized as a real estate investment.

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  • Pat L.
    Rental Property Investor · Upstate, NY · Member since 2012 · 3k+ posts · 3k+ votes
    3y

    As we were pulling back from the demands of a large portfolio, my wife said she always wanted a Lakehouse. So we lucked into one back in 2015, where the retired sellers had committed to a new home & were strung out with 2 mortgages, so we low balled them. It was a very rough, very rustic, one bed, one bath, 1970's era, well built structure. 

    We spent 2 years stripping it to the studs, rewiring, re-plumbing & opening it up into 4 bedrooms, 2.5 baths & a new 23x12 kitchen overlooking the Lake & the daily sunrises/sunsets. We literally did it all the work ourselves.

    It has been an amazing experience, especially the lifetime memories our grandkids are experiencing, as they still beg to go EVERY summer weekend.

    8Reply
  • Shiloh LundahlPro Member
    OP
    Rental Property Investor · Gilbert, AZ · Member since 2016 · 3k+ posts · 4k+ votes
    3y

    @Pat L. Thats exactly what I am talking about. The memories and enjoyment that you and your family will get out of this cabin sounds amazing. Post a picture if you wouldn’t mind. We’d love to see it.

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  • Jay HinrichsBusiness Member
    Real Estate Consultant · Summerlin, NV · Member since 2014 · 45k+ posts · 66k+ votes
    3y
    Quote from @Shiloh Lundahl:

    @Pat L. Thats exactly what I am talking about. The memories and enjoyment that you and your family will get out of this cabin sounds amazing. Post a picture if you wouldn’t mind. We’d love to see it.


    my goal would be a nice size ranch Property with stocked lake ( trout not bass) and a Trout stream with mixed Oak and Conifer .  Nice cabin with a good well and no off grid .  I have sold many in my land brokerage days and owned a few but those were logging / timber plays so they got sold off I want one for retirement 6 months out of the year.. PNW to Southern BC   East Slope of Cascades or Idaho MT rockies.. or well something in between there are some really nice Ranch style props in N. CA as well.
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  • Shiloh LundahlPro Member
    OP
    Rental Property Investor · Gilbert, AZ · Member since 2016 · 3k+ posts · 4k+ votes
    3y

    @Jay Hinrichs I think I can picture it and it looks beautiful. Thank you for sharing. 

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  • Bjorn AhlbladPro Member
    Investor · Shelton, WA · Member since 2017 · 6k+ posts · 6k+ votes
    3y

    My wife and I live in a house on the ocean in the PNW. It is down a dirt track well off the county road. A few years ago an adjoining parcel came up for sale, my wife bought it so no one else could. It has a meadow, a woods area, a seasonal wetlands. For us it is place to take the dog for a walk and trails for us to use for family and friends. As long as keep it undeveloped taxes are 75 dollars a year! Crazy.

    4Reply
  • David A.
    Rental Property Investor · Los Angeles · Member since 2019 · 157 posts · 175 votes
    3y

    Sending this from my weekend mobile home half a block from the ocean in San Diego, courtesy of my real estate holdings.

    2Reply
  • Patty C.
    Homeowner · CA · Member since 2014 · 125 posts · 33 votes
    3y

    All of our properties have been lifestyle investments. They served the purpose of gatherings for family and friends, work from home, rentals, and primary residence(s). We've enjoyed and appreciated the renters I've had and made friends being a landlord. These lifestyle investments gave far superior returns than the 403(B)/401(K) "retirement" plans with the added benefit of being able to control our portfolio and enjoying them before we retired. :-). 

    2Reply
  • Carlos Ptriawan
    Member since 2019 · 7k+ posts · 4k+ votes
    3y
    Quote from @Shiloh Lundahl:

    After investing for awhile and building up a sizable portfolio, I have started venturing into lifestyle properties.

    I’d love to hear what your favorite lifestyle investments are.


    work for CA company from 7AM-2AM HST
    and by 2-5pm HST already on the beach, either body surfing or surfing LOL

    Repeat. Daily. LOL.

    1Reply
  • Jay HinrichsBusiness Member
    Real Estate Consultant · Summerlin, NV · Member since 2014 · 45k+ posts · 66k+ votes
    3y
    Quote from @Carlos Ptriawan:
    Quote from @Shiloh Lundahl:

    After investing for awhile and building up a sizable portfolio, I have started venturing into lifestyle properties.

    I’d love to hear what your favorite lifestyle investments are.


    work for CA company from 7AM-2AM HST
    and by 2-5pm HST already on the beach, either body surfing or surfing LOL

    Repeat. Daily. LOL.


    one thing I like about my time in Hawaii is exactly that and with a lot of my bizzness mid west and east coast  as long as folks dont call me and wake me up at 4am LOL.. that works very well.
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  • Carlos Ptriawan
    Member since 2019 · 7k+ posts · 4k+ votes
    3y
    Quote from @Jay Hinrichs:
    Quote from @Carlos Ptriawan:
    Quote from @Shiloh Lundahl:

    After investing for awhile and building up a sizable portfolio, I have started venturing into lifestyle properties.

    I’d love to hear what your favorite lifestyle investments are.


    work for CA company from 7AM-2AM HST
    and by 2-5pm HST already on the beach, either body surfing or surfing LOL

    Repeat. Daily. LOL.


    one thing I like about my time in Hawaii is exactly that and with a lot of my bizzness mid west and east coast  as long as folks dont call me and wake me up at 4am LOL.. that works very well.

     yeah ! feeling weird calling city of milwaukee from Kona by 7AM, was like calling someone in US from Bali LOL

    honesly when we're in BI we dont want any phone from mainland lol

    1Reply
  • Account Closed
    Investor · Singapore · Member since 2013 · 1k+ posts · 3k+ votes
    3y

    Lifestyles can be rented. A couple of months ago my childhood best buddies and I rented a 7000 sq foot villa with 3 pools, an elevator, and a full time staff of 5 including a chef, driver, house manager and housekeepers with amazing ocean views in Phuket Thailand for less than $1000 per night. I can easily do this a few times per year at different locations. Why buy?

    4Reply
  • Marcus Auerbach
    Investor · Milwaukee - Mequon, WI · Member since 2010 · 5k+ posts · 7k+ votes
    3y

    Has anyone read the book Lifeonaire by Micheleen Cook? While I like daydreaming about lifestyle properties; could be a café where I play guitar with friends (well, I can't even play tambourine) or a ranch in the mountains, I have decided it's too much work to maintain a second residence. And I don't want to be tied to one place.

    When I was in my 20s my GF parents had a condo in the Austrian mountains. They always went there, every holiday, vacation, every weekend. They felt guilty going anywhere else!

    Properties are for income and that's work. My credit card will take me to a ranch in Montana, a beach in Mexico or a mountain cabin in Thailand. And when I am done, I just leave and they will clean it and maintain it. I like the simplicity of that. 

    2Reply
  • Mark S.
    Real Estate Investor · Saint Paul, MN · Member since 2017 · 543 posts · 474 votes
    3y

    @Shiloh Lundahl Farm and ranch land. Solid capital appreciation over the years, ok cash flow, very easy to manage. But most important to me are the relationships I have developed with my tenants, who are now good friends. And since they are all large operators, I have access to literally tens of thousands of acres for bird hunting. Plus their kids and my kids are getting to know each other and I am confident the partnership will continue successfully into future generations. Oh, and it is a great inflation hedge!

    I own residential properties and am in some syndications but those don’t make me sit back and smile the way my land does.

    0Reply
  • Pat L.
    Rental Property Investor · Upstate, NY · Member since 2012 · 3k+ posts · 3k+ votes
    3y
    Quote from @Shiloh Lundahl:

    @Pat L. Thats exactly what I am talking about. The memories and enjoyment that you and your family will get out of this cabin sounds amazing. Post a picture if you wouldn’t mind. We’d love to see it.

    only had a couple on this Mac...
    sunset from the kitchen ... white recessed lights are now dark bronze

    Stairs were a lot of work

    0Reply
  • Shiloh LundahlPro Member
    OP
    Rental Property Investor · Gilbert, AZ · Member since 2016 · 3k+ posts · 4k+ votes
    3y

    Here is a picture of a happy moment at one of my lifestyle investments in Costa Rica. We held an investor retreat last August at one of our properties there.

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