Checklist Tags

These are the checklists related to Cash Reserves.

These are the tasks that are related to your cash reserves that you should keep when you buy any property.

When you click on the task, you can also see the tags that task is filed under. You can also click on the tag to see other tasks with that tag.

  1. Determine your Cash Reserves
    It is prudent to determine where you might get cash from if you need it to take care of unexpected expenses when buying a property as a Nomad or as a rental.

    Take a moment to determine where your Cash Reserves are in cash you need money to maintain a property.

    Mark this task complete once done.

    ASAPCash ReservesPre-Showings: Down PaymentUltimate Nomad ChecklistWeek 2

  2. Partnership Determine how much Cash Reserves for Partnership
    If you're doing a partnership, you will want to determine with your partners how much you will want to keep in Cash Reserves for the Partnership.

    If you're not doing a Partnership, you can skip this step, but it may also be helpful for you to think about the sources of your Cash Reserves are as well.

    Mark this task complete once you've determined how much Cash Reserves you should have with your Partnership.

    Cash ReservesPartnershipsPartnerships - SetupPre-Showings: Down PaymentUltimate Nomad ChecklistWeek 2

  3. Partnership Transfer money from your Master LLC to your Single Member LLC for Down Payment
    This step is highly unusual for Nomads, but... if you happen to be buying in the name of a new LLC and you've got a Master LLC, make sure you transfer money from your Master LLC to your Single Member LLC (SMLLC) for your Down Payment.

    Mark this task complete once done or if you're not doing this.

    ASAPCash ReservesPartnershipsPre-Showings: Down PaymentUltimate Nomad ChecklistWeek 2