The Nomad™ real estate investing strategy is one of the best available, but it won't be the best for you if you make these all-too-common mistakes.
In this class you'll learn to avoid:
- Using the wrong financing type and what financing type you should be using instead
- Buying the wrong property type (SFH, Condos, Duplex, Triplex, Fourplex) and what properties you should be buying instead
- Buying the wrong property (Location, Layouts, Obsolescence, Cap Ex), the criteria you must have and the criteria you should have (when possible)
- How to avoid refinancing errors will stop your acquisition plans dead in their tracks
- Putting together the wrong team (Real Estate Agent/Broker, Lender, Inspector, Property Manager) and what criteria is most important in selecting a Dream Team
- Look away! Look away! Avoiding "Shiny Object Syndrome" (and not starting soon enough, flipping, wholesaling when you should Nomad™ in parallel at the beginning, losing motivation and stalling)
- The fatal mistake of not optimizing cash flow (Income, Expenses, Leases including Timing) especially in markets where positive cash flow is hard to come by
- Avoiding analysis paralysis and making decisions confidently
- Having unrealistic expectations that prevent you from taking action with a plan that thrives for those that take action with even reasonable expectations
- Being under-capitalized (including reserves) and some simple solutions
Duration: 1 hour and 59 minutes
Recorded: December 16, 2020
Instructor: James Orr
