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@Rebecca Morris if you want to tag someone in a post, then you just put the “@“ sign in front of their name.
For me to give you a suggestion, I would have more context about your situation. If you don’t have very much money to start out with, then I would suggest just reading books and saving money until you have $20-$40,000 to invest. That’s a pretty good amount to start out with if you’re creative
If you already have around $40,000 to invest then finding an affordable coach that can help you find under market valued deals and can help lead you and guide you through the process from start to finish is probably better than going to a course or reading a book. You probably have much better results if the coach knows what he or she is doing.
With the financials that you described, I don’t think that you need to sell your house and get into a duplex unless you guys want to move. You probably have a pretty good interest rate on your home so I would encourage you to stay there unless you don’t want to stay there. And if that is the case, then I think moving into a duplex would be a good idea
It looks like you have pretty good income, coming in compared to your expenses, so I would say open up a HELOC on your home in order to access some of the equity that you have in your home.
If your home appraises at 360k and you own around 160k then you could likely get a loan for around 130k. You have more income than expenses, so you could make a monthly payment on your home equity if you use your home equity for investing.
Then I would say to partner up with somebody in the area where you would like to invest in real estate. Make sure that that is a reputable person. That is super important. Partner with this person on one or two deals where you provide the money and they do the work and then you divide the profits. Whether it’s a flip or whether it’s a buy and hold for a couple years, either one should work. Make sure that you buy the property well under Marc value so you can create some instant equity when you buy it. You’ll be able to learn a lot through this process and if you do your numbers right, your return should be more than 30% per year if you hold the property for three years or less. This will help you pay off your $50,000 much easier and it will help you get investing in real estate.
I will be hosting a Real Estate investor retreat out of my property in Costa Rica in October.
This Retreat is for new investors or investors that have less than 10 properties that would like to learn how to buy properties better and build and scale a portfolio and build through real estate investing.
My name is Shiloh Lundahl and I have built a multimillion dollar real estate portfolio with 250 properties/doors in five years and I teach people how to do the same thing.
This retreat is priced very low for the value that you get. The cost is $2000 which includes food, lodging and an amazing property, transportation from the airport to the property, and excursions.
Watch the video below and to go to reiretreat.com for more info.
Amazing Real Estate Investor retreat in Costa Rica in October.
I have gotten a lot of direct bookings through my websites. majesticcostarica.com johnnysbeachbungalow.com and costaricaprivateresorts.com. I had my son use chatgpt to to help create 100 landing pages for the first two websites and I'm going to have him do it for the other websites where I advertise for my short-term vacation rentals.
@Maurice Giro one thing to keep in mind, if you are considering jumping into syndication, is that during markets like the one that we’re in, what it does is it sifts out the professionals from the amateurs. Those that are well-connected, and know what they’re doing Will succeeded while others will likely fail. Like the saying goes, a rising tide lifts all ships, but when the tide goes out, you can tell who’s been swimming naked. In other words, I wouldn’t get into anything halfheartedly. If you’re going to jump into real estate, I would highly encourage you to take is serious which means that you would need to dedicate time in learning and effort and connect with successful operators over time in order to be successful. We’re not in 2011 to the beginning of 2021 anymore where you would make money even when you made several mistakes. I would say we’re more in the Olympics of investing right now where you have to have a competitive advantage and you have to be an expert in order to win. I don’t say this to discourage you, rather, I say this to give you a realistic view of what it will take in order to be successful at the current investing climate today.
Hi @Maurice Giro it sounds like you would like to get into real estate investing, but you would like to be more passive than active.
Just keep in mind that the more active you are, the higher returns you get, and generally speaking, the more passive you are the lower returns you get
There is a hybrid model where you can learn how to find deals that are under market value, build a team that will help you purchase and rehab and rent out the property, and then have someone help you manage it. If you’re able to find properties that are under market value, then you can build wealth faster through forced appreciation that happens when you fix up the property at the beginning. But if you’re too busy to do that, then a few other options maybe:
1) syndication - but you would really want to vet the syndicator and see their track record especially how they’re doing during this downturn.
2) Buy turnkey properties that are managed by the turnkey company. However, you usually buy these properties at or a little bit above market value. so it really takes quite a bit longer for you to build wealth with these properties and you are really just hoping for appreciation overtime. Or, if you don’t have a loan on the property, then you make money through cash flow. But the money that you are making is usually below 10% with a turnkey property
3) partner with somebody who is a skilled Real Estate investor, who can do the majority of the work and you can come in as the money partner. They can find the deals and get them ready for rent or for sale and you can just be the money partner on it and then you guys can split the profit in a way that makes sense for both of you.
4) become a private money lender, and lend out your money to skilled real estate investors in order for them to do deals. You wouldn't be an equity partner, you would be a debt partner. I've had a lot of people do this with me where they will lend me money on some of the deals that I do and then I will give them a deed of trust, which ties their money to a specific property that has much more equity than the sum of the loans. They receive a promissory note that outlines the timeframe of the loan with a specific interest rate. For me it is usually a 24-36 month loan at between 13-15 APR%. This is a very passive way of getting involved in real estate that provides fixed returns that are usually higher than the stock market.
Those are a few ways to get involved in real estate in a more passive role.
Hopefully this is helpful to you. Let me know if I can be of any help. And good luck investing in real estate.
We run awesome real estate investor and mastermind retreats in amazing locations. Check out our schedule for upcoming retreats. Text the words “investor retreat” to 480-206-1209 to BOOK A CALL to see if you would be a good fit for the investor or mastermind retreats.
Who would benefit from the investor retreat?
Anyone who is just starting out in real estate investing
Investors who own less than 10 properties
Investors who want to learn how to build wealth faster by buying under-valued properties
Investors who want to pick up a gold nugget or 2 and that could make them 10’s or 100’s of thousand of dollars
Investors who want to network with high-level investors in order to learn how to scale a real estate business
Next Investor Retreat Schedule
Each day of the retreat you will receive real estate educational content. The content will be broken up during the day by either meals or excursion. Each day there will be 1 or 2 excursions in order to make the content more digestible and to enjoy your time in the beautiful country of Costa Rica.
Bring a laptop with you to practice the skills of finding properties and implementing the skills that are being taught. Yes, it is likely that participants will make offers and get properties under contract during the retreat.
Session 1 at Bella Vista Private Resort
Day 1 – Saturday, October 19
Fly into the San Jose Airport. We get started at noon so you may want to fly in early in the morning or get there the day before. We will arrange for airport transportation at 10 am. Let us know your itinerary.
Saturday – You will be picked up from the San Jose International airport and you will travel to Bella Vista Private Resort in Costa Rica which is about 1 hour and 15 minutes from the airport. Please text your itinerary to 480-206-1209 along with your name.
We will get started at noon. Saturday will be a day of getting to know each other, defining goals, and getting started breaking down investing in real estate.
Day 2 – Sunday, October 20
Sunday morning will be a less structured until noon for anyone who would like to go to church or peacefully enjoy the grounds.
Lunch at noon
Instruction from 12:30 until 3:30 PM
Monkey house and beach from 4:00 until 5:30 PM
Dinner from 6:00 PM until 7:00 PM
Instruction from 7:00 PM until 9:00 PM
Day 3 – Monday, October 20
For the early risers, at 5 AM, there is a hike to Cerro Tinajita to take in the beauty of the Costa Rican sunrise.
Breakfast at 7 AM
Instruction from 8 AM to 11 AM
Lunch 11:30 AM – 12:30 PM
Visit El Encanto Waterfall and go on a Chocolate Tour
Dinner 5 PM
Instruction 6 PM – 9 PM
Day 4 – Tuesday, October 21
Breakfast at 7 AM
Instruction from 8 AM to 11 AM
Lunch 11:30 AM – 12:30 PM
San Lorenzo Ziplines 2 PM – 5 PM
Dinner 6 PM – 7 PM
Instruction 7 PM – 9 PM
Day 5 – Wednesday, October 22
Breakfast at 7 AM
Pack and head to airport 10 AM
Session 2 at The Majestic Lodge
Day 1 – Wednesday, October 22
Fly into the San Jose Airport. We get started at 2 PM so you may want to fly in early in the morning or get there the day before. We will arrange for airport transportation at 10 am. Let us know your itinerary.
Saturday – You will be picked up from the San Jose International airport and you will travel to The Majestic Lodge Private Resort in Costa Rica which is about a 3 hour drive from the San Jose airport. You will stop to get lunch along the way. Please text your itinerary to 480-206-1209 along with your name.
We will get started at 2 PM. Wednesday will be a day of getting to know each other, defining goals, and getting started breaking down investing in real estate.
Dinner 5 PM
Baldi Hot Springs 6 PM – 9 PM
Day 2 – Thursday, October 23
Breakfast 7 AM
Instruction 8 AM to 11 AM.
Lunch 11:30 AM
Vista Arenal Zipline and Hiking La Fortuna Waterfall 1 PM – 5 PM
Dinner 6 PM
Instruction 7 PM to 9 PM
9 PM – Downtime
Day 3 – Friday, October 24
Yoga and Meditation on the outside deck 6 AM
Breakfast 7 AM
Instruction 8 AM to 11 AM
Lunch 11:30 AM
Hanging Bridges 12:30 PM – 3 PM
Instruction 3 PM to 5 PM
Dinner 5 PM to 6 PM
Night Time Wildlife Exploration 6 PM – 8 PM
Day 4 – Saturday, October 25
Breakfast 7 AM to 8 AM
Massages and Individual Consultations 8 AM – 11 AM
Lunch 11 AM to 12 PM
Tubing or River Rafting 12 PM to 4 PM
Dinner 5 PM to 6 PM
Instruction 6 PM to 9 PM
Downtime 9 PM
Day 5 – Sunday, October 26
Breakfast at 7 AM
Pack and head to airport 10 AM
Retreat Pricing
The retreat is limited to 18 people. Below is the pricing
$3900 for an individual sleeping on a twin bed in a shared bedroom
$4900 for an individual in private room with king or queen bed
$5900 for two people in a private room
What will the retreat fee include?
Housing and transportation (excluding airfare to Costa Rica).
1 -2 (on average) adventurous excursions in the country of Costa Rica per day.
All meals (excluding snacks)
Real estate education taught by one or more experienced real estate investors.
How to register?
Individuals or couples who are ready to learn how to invest in real estate or improve their real estate investing skills can reserve their spot by that is non-refundable. After paying the registration fee, send an email to [email protected] to confirm the receipt of payment and to select your specific reservation (Individual in a shared room, Individual in a private room, two people in a private room).
What does the Investor Education Consist of?
The investor retreat is more than just a seminar that you spend a few days in and take some notes and then go back to how you were living your life before the seminar. This retreat is more like a workshop. Rather than just tell you things that you can do, we show you what to do and we will buy a house during the retreat and show you each step of the way how we are doing it. We break down investing into the 5 F’s and 1 M of investing:
How to FIND under valued properties
How to get initial FUNDING to purchase them
How to get the property FIXED up
How to FIND the right tenant
How to get long-term FINANCING
How to MANAGE the property
Who will teach at the investor retreat?
We have several expert real estate investors who attend and teach at our real estate investor retreats. One of the highlights of these retreats is to have access to the knowledge and experience of these investors during the retreat. Below are some brief bios of some of the retreat facilitators.
Kalvin Vitalis is a serial entrepreneur and has build 3 successful businesses. He is an international real estate investor and has 25 years of real estate investing experience using creative financing. And he is a public speaker.
Dominic Wood is an international real estate investor with 15 years of experience in real estate. He has build and remodeled over 50 homes and has 6 vacation rentals including a property in Tulum, Mexico.
Shiloh Lundahl is an international real estate investor and real estate investing coach. He build a portfolio of 250 properties with partners. He currently owns 50 single family homes and specializes in lease options.
Don’t delay reserving your spot at the next real estate investor retreat in September. that is non-refundable. After paying the registration fee, send an email to [email protected] to confirm the receipt of payment and to select your specific reservation (Individual in a shared room, Individual in a private room, two people in a private room).
Hi @Mike Lambert. You are thinking like an investor. Which is great. The thing that lead me to invest in Costa Rica was a desire to own a property in Costa Rica first. But I wanted a nice property and I couldn't justify spending $500,000 on a nice property there. At this time, I was part of a Mastermind group where I was the little fish in the pond (and at the time I owned 200 units between commercial, multifamily, single family and some mobile home parks). Everyone in the group were either business owners or serial entrepreneurs or had millions of dollars real estate. I showed a buddy there the property that I wanted to get and he told me that he was in and that he would partner with me on it. From there we just shared it with other people in the group and we were able to find a total of 9 people that wanted to have a property in Costa Rica and were willing to put in $110,000 to do it. At the time, I told them that we were looking at around a 5% cash on cash return and they still wanted to do it. In fact, more people wanted to be a part of it than we had room in that property so we purchased another property on the beach about 9 months later. Then we found the house in the rain forest and it completed the trifecta. So the goal wasn't to make money necessarily for the majority of the partners/investors. It was to own something awesome in Costa Rica that would pay for itself and we could enjoy and it could create a return too.
One of these days it would be great to have you come on one of our investor retreats that we do there.
@Martin D., @Mike Lambert, @Andrew Steffens hey guys, do you mind if I jump into the conversation to share a little on my experience investing out of the country?
I own 3 properties in Costa Rica with other investor partners and it has been a big learning curve.
I used to live in Costa Rica so I have a lot friends there that help me manage my properties. In my opinion, that is really the only way that I think investing out of the country can be done successfully. You have to have a team on the ground that can help you take care of the property, and if it is an STR, to help you take care of the guests.
We purchased our first property there about 2-and-a-half years ago. There were 8 partnership shares altogether. Each partner brought in $117,500. The property is on 2-and-a-half acres and it has a main house, a guest house and a tiny house. It will probably bring in $160,000 this year. Our goal is to have it bring in $180,000 or more each year. This gives the investors about a 10% return on their money. It isn’t very profitable compared to my US investments but it is way more enjoyable. It also takes a lot more of my time because I have been managing it mostly myself since we purchased it. Here is a link to the listing for context: airbnb.com/h/bellavistacostarica
We then bought a house on the beach about 2 years ago with other investor partners. We put in some work after we purchased it and it is making some money, but we have not hit our 10% return goal yet. Last year it brought in $180,000. Our goals is to bring up the revenue to $240,000. That should make each of the 10 partners a 10% cash on cash return for their $110,000 share: airbnb.com/h/johnnysbeachbungalow
I more recently purchased a house in the rainforest of La Fortuna. This is a pretty sweet property. We purchase it with seller financing and we built a caretaker’s house and popped the top adding an additional story to the house. That should be done by the end of August. This property should bring in about $270,000 a year. This property will have 7.5 shares (6 are already taken so I’m still looking for 2 more investor partners on this one). Each share is also $110,000. After the seller financing is paid off in 4 more years, this property should create a 15% cash on cash return: airbnb.com/h/majesticlodgecostarica
We are currently also expanding our beach house, which is already a six bedroom home that can sleep up to 28 people. We are buying the lot next-door and we’re building an eight bedroom house that is three stories and will have a roof top pool, where you can look out and see the ocean. This property will sleep another 24 people. It will also have large open spaces on the first floor that can seat between 50 and 80 people for corporate events and retreats. The two properties will be separate, but they can also be rented out together by larger groups. There will be 10 investor partners on this deal as well. The share price is the same as the others.
I would say, when you’re purchasing properties in another country, it’s important to visit there several times and do your research to find out which types of properties have the best returns. What we found out doing our research is that in Costa Rica, large vacation rental properties that are different than other properties can create a good return because the competition is lower and also money lending can be a good return because you can charge high interest with only a 50% loan. A lot of the money lenders will lend for two years at 12% with three points upfront and they only lend 50% of the value.
So that has been my experience investing in real estate out of the country. The returns are not as high as I get in the United States compared to the lease options that I do with single-family homes, but the enjoyment that I get from visiting these properties and hosting investor retreats out there is so much greater than any regular investments that I have in the states.
Let me know if you have any questions about the things that I’ve mentioned. I’m happy to chat.
