Nomad™ Real Estate Investing Podcast: Recent Episodes
James Orr
Real estate investing podcast and recordings of live classes focused primarily on the Nomad™ real estate investing strategy, but also covering traditional buy and hold.
- What is your current budget?
- How much do you need to achieve lean FIRE (or the minimum to be financially independent)?
- How much do you need to achieve fat FIRE (or your ideal lifestyle and true financial independence)?
Use The Ultimate Financial Independence Retire Early Budget™ for Excel to determine all these numbers for yourself quickly and easily.
In this special class on How to Buy a Rental Property you’ll learn:
- An entire overview of the buying process for buying a rental property
- Learn exactly what James discusses with folks meeting with him for the first time to discuss buying/selling a property
- What James typically gives to buyers at the first meeting including The World’s Greatest Real Estate Deal Analysis Spreadsheet™
- What is an Exclusive-Right-To-Buy Listing Contract and how do they work?
- Why you may want the ability to terminate the agreement and a recommended way to structure that
- When does your agreement end?
- Different ways to pay your real estate agent/broker... when it is due and why it is not always the same
- What if a brand-new agent and super-experienced agent cost the same?
- What is a holdover period and how it can bite you in the hind-quarters
- The "inside scoop" on real estate agents and kickbacks for recommending/referring you to other providers
- What if your real estate agent/broker poops the bed and fails to perform?
- Who pays for what... costs of the transaction
- Keeping your identity secret
- Attorney's fees and what happens when poop hits the fan
- The real-world pros and cons of working with one real estate agent/broker versus many
- Who does what in the transaction... a list of the key players and their roles
- Building your team for acquiring your next deal and some suggestions
Plus info on setting goals, financing properties, receiving property lists via the MLS, establishing your buying criteria, analyzing deals, writing offers, comparing lenders, earnest money, down payments and much, much more.
For detailed outline and downloadable resources see:
https://realestatefinancialplanner.com/how-to-buy-a-rental-property/
Capital Expenses (CapEx) can be the most harmful factor in how well your rental properties cash flow. And, the truth is: you have a lot of control over how it impacts you. But, unfortunately, most real estate investors don't even think about CapEx.
In this new class, James will cover two new spreadsheets. The new Cap Ex Estimator for Rental Property - BASIC version and the new Cap Ex Estimator for Rental Property - ADVANCED version.
The BASIC version is the way some others have tried to make a tool to estimate how much to set aside for CapEx. However, all of the other versions I've seen have a significant ERROR in them (which is corrected in this version).
The ADVANCED version takes making investment decisions based on CapEx to the next level. It is the tool I wish I had with my own rentals, but didn't exist. So, I created it. And, it is AMAZING.
Use these spreadsheets to eliminate buying a cash-flow-sucking-dog-of-a-property and to only buy properties with great cash flow (even accounting for CapEx... correctly this time).
Use the spreadsheets as a sort-of "crystal ball" to predict the future and make decisions about keeping properties or selling them before they (unexpected) become an albatross around your neck.
Plus, powerful ideas on how to all-but-completely eliminate your CapEx, reduce CapEx, shift some CapEx to a third-party at a fraction of the cost and much more.
https://realestatefinancialplanner.com/capex/
New year, new spreadsheet.
Get the first look at the new deal analysis spreadsheet with a goal to first simplify, then to empower.
Tucked away are 90% of the numbers that no-one ever looks at in other spreadsheets. To the forefront are 9 of the most important charts summarizing the most important decision-making info you need to buy an amazing deal or pass on a dog-of-a-property.
In this class James will walk you through the new spreadsheet and, at the end, email you a link to download it.
What's covered:
- Everything on one reasonably-sized screen
- Easily print to one page
- Simplified inputs - everything you need, but nothing you don't
- Advanced input overrides
- Drill down if needed
- The difference between TWGREDAS and REFP
- One-click export to REFP from TWGREDAS
- Easily export the spreadsheet for presentations to raise money or share with partners, lenders, accountants, banker, teaching classes or you spouse
- The 9 primary decision-making charts
- Monthly Cash Flow and Cash Flow from Depreciation™
- Return in Dollars Quadrants™
- Return on Investment Quadrants™
- Returns if Sold (ROI and IRR)
- Cash on Cash and Cap Rate
- Return on True Net Equity™
- Key Metrics
- Non-Loan Expenses
- True Net Equity™, Cash Out Refi Equity and Cost-To-Access Each
- Modeling variable returns
- Professional sponsors
- Silver and Gold Editions and how to download
- And, future improvements
Download a copy of the spreadsheet here:
https://realestatefinancialplanner.com/spreadsheet/
A question for the ages: should I sell my rental property?
In this special class recording James discusses considerations when approaching this question along with some brand-new tools that allow you to determine the answer for yourself and your properties.
https://RealEstateFinancialPlanner.com/should-i-sell-my-rental/
Get tips on saving money and reducing risk with insurance as a real estate investor.
A special thanks to Brian Armstrong with Arrow Insurance Professionals for significant contributions to this presentation.
Arrow Insurance Professionals
Brian Armstrong
Phone: (303) 284-2997
Email: brian@arrowinsuranceprofessionals.com
Website: http://arrowinsuranceprofessionals.com
To see the outline or watch the video of the presentation, check out the blog post here:
https://realestatefinancialplanner.com/8-money-saving-risk-reducing-real-estate-investor-insurance-tips/
Are you considering investing in real estate? What strategy are you considering? How does that compare to all your other options?
Let's dive into the pros and cons of every real estate investing strategy… compared in this special one-time-only class taught by James Orr on February 10, 2021.
Or, check out the video with the outline here:
https://RealEstateFinancialPlanner.com/pros-and-cons-of-every-real-estate-investing-strategy-compared/
Keeping good books as a real estate investor is important. Making keeping good books easy is, apparently, Brian's gift. In this special masterpiece, Brian will go over how to get organized and use his magical bookkeeping spreadsheet to keep track of income and expenses on your rentals plus much more.
https://realestatefinancialplanner.com/bookkeeping-and-accounting/
To meet the safe harbor requirement for the qualified business income deduction as a landlord with rental property, you need to keep a contemporaneous log documenting the work you and your folks have done in your rental business.
Learn all about it and download a free copy of the log:
https://RealEstateFinancialPlanner.com/download-free-log-for-qualified-business-income-deduction-with-rental-property/
Imagine yourself in a hot tub and working through the math of you achieving financial independence. This class will help you more easily and more accurately model your journey toward financial independence.
https://realestatefinancialplanner.com/over-simplified-financial-independence-with-real-estate/
Should you go to college or skip it and invest in real estate instead?
What if... after getting a college degree... you could earn $30,000 more than someone investing in real estate? And, what if you invested that full $30,000 more per year than the person who skipped college?
Which gets you to financial independence faster? Safer?
James (and Brian) tackle this question for the first time in this amazing new class.
Listen to the episode on the podcast or check out the video and the related charts here:
https://RealEstateFinancialPlanner.com/go-to-college-or-skip-it-to-invest-in-real-estate/
Don't ask me who thought it was a good idea to have me present a class on rental property tax deductions when I don't even do my own taxes (my CPA does), but that's what this is.
In my defense, I did ask IRS Enrolled Agent, Jassen Bowman, to join me to help prevent me from making egregious mistakes.
And, to make me even more nervous, my CPA was on the webinar to correct me from time to time.
So, join me and Jassen to discuss some rental property tax deductions.
Watch the video here:
https://RealEstateFinancialPlanner.com/rental-property-tax-deductions/
Real Estate Investor Story about Peter from Denver trying to evaluate whether he should save up 20% down payments, 25% down payments or do the Nomad™ real estate investing strategy and save up 5% down payments for acquiring rental properties.
Real Estate Investor Story about Peter from Denver evaluating the chance of successfully achieving financial independence with 5% down payments, 20% down payments or 25% down payments when in a variety of market conditions using the Cash Flow Power Meter™.
Real Estate Investor Story about Peter from Denver evaluating the impact of variable stock market returns, random price appreciation and random rent appreciation when investing with 20% down payments.
Real Estate Investor Story about Anthony working in grocery store, saving his pennies for financial independence someday. He decides to invest in real estate in Hackensack, NJ with extremely high property taxes by Nomading™.
Learn about James' latest tool for visualizing cash flow on a property at a glance: The Cash Flow Power Meter™.
https://realestatefinancialplanner.com/cash-flow-power-meter/
Real Estate Investor Story about professional salesman Sam who double down on his sales skills and uses them to achieve financial independence with creative real estate investing.
Real Estate Investor Story about plain Jane investing 15% of her income in the stock market as she seeks financial independence.
Real Estate Investor Story about "Bad Luck" Bobby who starts investing as a Nomad™ just at the peak of the real estate market as it begins to go against him.
Real Estate Investor Story about Andrea and how she plans to buy 8 rental properties with just 2 down payments utilizing the Nomad™ real estate investing strategy as a single mother after a stressful divorce.
In this episode Brian explains how he is using a Fulfillment by Amazon business to acquire some additional income and generate down payments even faster. Watch the recording of the presentation at https://jamesorr.com/get-your-side-hustle-on/