All Forum Posts by: Shiloh Lundahl

@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. 

@Taylor Smith if you are looking to buy a home for yourself as a primary residence, I have a video on my YouTube channel called "The Absolute Best Way to Buy a House." You can search my name with the words real estate and you should be able to find my channel. That video will go over a complicated strategy to help you get a primary home without much of a down payment and with built in equity. 

@Bradley Buxton I'd like to network with more people that have a net worth of between 5 and 10 million dollars. I feel like I've been stuck between that 4 to 6 mark for about three years and I'm having a hard time pushing past that. In my experience, your level of wealth that you can handle is based on your mindset. And in order to change the level of wealth, you need to change your mindset. Being around people with the mindset that you'd like to have is probably one of the best ways to help shift your mindset. so in order to shift my financial mindset, I'd like to spend time with people that are at a financial level that I'd like to be at.

Sometimes going to local investor meet ups after investing for 15 years and building a large portfolio is a little disappointing. The majority of the investors at these local meet ups are either new or they've only done a handful of deals.

I would like to network with investors that have done hundreds of deals and have made multiple millions of dollars in real estate. 

For those who have built a net worth of over 5 million dollars or more in real estate, what are the best ways you have found to network with people at your level or higher?