Benefits of Becoming a Client

My local real estate brokerage business model is largely to provide amazing, free real estate classes to real estate investors with an emphasis on providing classes to Nomads.

So, if I am providing all of these great classes for free, what motivates a person to become a client?

Part of it is good, ethical guilt… I am providing so much value that they feel guilted into using me to buy and sell real estate if they want to continue to come to and benefit from the classes and tools I provide. But, there are a few additional client benefits I provide (listed below).

I have not always done the best job sharing this with clients or potential clients, but I do plan to make a handout of this and include it with the class handouts and/or class schedules that I give out in classes to people so they become more aware.

With further delay, here’s the list of benefits of becoming a client…

Free Access to Recordings of Previous Classes

If you happened to miss a class on a topic you wanted to attend live, but couldn’t… if you’re a client… no need to worry. Clients can access recordings of the previous classes right on the RealEstateFinancialPlanner.com website. I usually issue you a coupon code to get access to Premium Nomad Content for free as a client which grants you access to dozens of recordings of previous classes.

This usually sells for $497 per year, but it is included free as a client.

“Northern Colorado Real Estate Advisor” Book

I have a book that I give to clients called the “Northern Colorado Real Estate Advisor”. In the book, I have checklists and explanations of what to expect when buying a home with me, selling a home with me or investing in real estate. In addition, I have my personal referral directory of who I’d recommend for a variety of trades and local services.

Clients get a copy free, but if you’d rather not be a client, you can buy a copy of the book on Amazon for $197.

Priority Access to Investor Club Meetings

Sometimes we have limited space at popular investor club meetings. If too many people want to attend and we don’t have enough seats for people, we often need to start a waiting list for people. Clients get priority access by jumping to the front of the waiting list (and in some cases they’re invited to attend and we’ll bring in an extra seat).

Nomad Calculator Classic

As part of the Premium Nomad Content you also get access to the Real Estate Financial Planner™ software for doing your own analysis on the Nomad™ model with your own assumptions.

Before, During and After Checklists

I’m in the process of adding robust Before, During and After checklists for before you buy a home (Before), the home buying process (During) and what happens after you buy a home (After) for Nomads to the the Nomad website. Eventually these will become dynamic checklists that you can use to keep track of your progress and manage your properties. For now, you get access to the BETA edition of these checklists as we create and improve them.

“How to Acquire a Multi-Million Dollar Real Estate Portfolio Starting with $3,000” book

In November, 2016 I wrote a new book that was eventually titled “How to Acquire a Multi-Million Dollar Real Estate Portfolio with Just $3,000” that is based on the presentation I gave called How to Acquire a Multi-Million Dollar Real Estate Portfolio with Just $3,000. In the book, I walk you through acquiring 20 rental properties starting with just $3,000.

Plus, clients get access to the expanded on-line edition of the book that includes other cities, interactive charts and much more.

Charts and Web Tools

On my brokerage website, JamesOrr.com, I have a plethora of additional charts, data and analysis tools that helps with analyzing properties and our local real estate market.

Lease and Option Paperwork

In December, 2016—after many years of being asked and saying, “no”—I finally agreed to provide a copy of a lease that has been reviewed by a local attorney. It is the same lease that we teach from in our classes. And, in late 20117 I had our attorney review our option paperwork as well for doing lease options with tenant-buyers.

The lease (and option) cost me more than $6,000 and many, many hours of my time to create.

If you can think of anything else I should add, update or edit, please let me know below in the comments.

First Meeting: Paperwork

The following are the additional tasks related to the paperwork in that first meeting with James.

  1. Complete "First Meeting: Paperwork" checklist
  2. Review "Benefits of Becoming a Client"
    If you have not done so recently, review the "Benefits of Becoming a Client" blog post on:

    https://RealEstateFinancialPlanner.com/benefits-of-becoming-a-client/

    ASAPFirst Meeting: PaperworkOptionalUltimate Nomad ChecklistWeek 1

  3. Sign up for Dropbox
    Sign up for Dropbox with "Extended Version History" feature at:

    https://Dropbox.com

    "Extended Version History" keeps copies of old versions of your files longer than just 30 days in case you accidentally delete something and don't realize it right away.

    AccountingASAPBookkeepingBookkeeping and Accounting for NomadsComputer SetupFirst Meeting: PaperworkOptionalUltimate Nomad ChecklistWeek 1

  4. Setup Dropbox on your computer
    Once you've signed up for Dropbox make sure it is installed and working on your computer for saving all your real estate related files.

    Here is the recommend folder structure for Nomads to be setup inside Dropbox:

    • "REI Folders"
      • Folder for each property and LLC/major entity
      • Example: "Main St LLC" (one folder for each LLC/major entity)
      • Example: "1234 Main Street" (one folder for each property)
        • "1. Purchase Docs"
          • "YYYY-MM-DD - PROPERTY STREET ADDRESS - FILE DESCRIPTION.pdf"
          • Example: "2018-04-21 - 1234 Main St - Buyer Settlement Statement.pdf"
        • "1.1 Refinance" (if applicable, but make it now)
        • "2. Trust Docs"
        • "3. Property Info"
        • "4. Mortgage"
        • "5. Taxes"
        • "6. Insurance"
        • "7. HOA"
        • "8. Expenses"
        • "9. Tenant and Property Mgmt Info"
          • Example: "Smith, John and Suzy" (one for each tenant group)

    Mark this task complete once you've set up Dropbox and your folder system within Dropbox on your computer.

    AccountingASAPBookkeepingBookkeeping and Accounting for NomadsComputer SetupFirst Meeting: PaperworkOptionalUltimate Nomad ChecklistWeek 1

  5. Determine your Contract and Paperwork Attorney
    If you're going to have the paperwork for working with your Real Estate Broker, Contract to Buy and Sell Real Estate, or any other paperwork you might sign reviewed by an Attorney before you sign it, you may want to determine who that Attorney will be.

    This Attorney will also probably prepare or review your Lease.

    Ask your Real Estate Broker for a recommendation.

    Mark this task as complete once you've decided which Contract and Paperwork Attorney you will use to help review your legal documents or if you're qualified to review them yourself.

    Asset ProtectionDream TeamDream Team - Pre-ClosingFirst Meeting: PaperworkLeasePaperworkUltimate Nomad ChecklistWeek 1

  6. Receive copy of "Definitions of Working Relationships"
    Receive a copy of "Definitions of Working Relationships" or whatever the equivalent is in your local real estate market.

    James usually provides this via DocuSign for you to sign electronically along with:

    • "Exclusive Right-To-Buy Listing Contract"
    • "Professional Services Provided"
    • "Brokerage Disclosure Regarding New Construction"

    Mark this task complete once you've received it.

    First Meeting: PaperworkPaperworkUltimate Nomad ChecklistWeek 1

  7. Read "Definitions of Working Relationships"
    Read the "Definitions of Working Relationships" to prepare to discuss it with your Real Estate Broker.

    Mark this task complete once you've read it.

    First Meeting: PaperworkPaperworkUltimate Nomad ChecklistWeek 1

  8. Discuss the "Definitions of Working Relationships" with your Real Estate Broker
    Discuss the "Definitions of Working Relationships" with your Real Estate Broker including:

    • That there are several ways you can work with a Real Estate Broker: where they represent the buyer, where they represent the seller and where they act more like a referee not representing either buyer or seller but helping coordinate the purchase and sale.
    • If you want a Real Estate Broker to represent you as a Buyer, you will need an "Exclusive Right-To-Buy Listing Contract".
    • James prefers to work with you as a Buyer's Agent when buying so he can represent you and your best interest and give you advice throughout the transaction and beyond.
    • If you refuse to sign one, I will need to mark down that I gave you a copy and that you refused to sign.

    Mark this task as complete when you understand the "Definitions of Working Relationships".

    First Meeting: PaperworkPaperworkUltimate Nomad ChecklistWeek 1

  9. Sign "Definitions of Working Relationships" via DocuSign
    Your Real Estate Broker will typically send over the "Definitions of Working Relationships" with the other documents for you to sign via DocuSign.

    Sign these by click on the link in your email and you will receive a copy of the signed documents via DocuSign.

    Mark this task as complete when you've signed your documents from your Real Estate Broker via DocuSign.

    First Meeting: PaperworkPaperworkUltimate Nomad ChecklistWeek 1

  10. Save copy of "Definitions of Working Relationships" to your Dropbox folder
    Save copy of "Definitions of Working Relationships" to your Dropbox folder using the filename format of:

    "YYYY-MM-DD - YOUR NAME - Definitions of Working Relationships.pdf"

    Where YYYY = the year, MM = the two digit month, DD = the two digit day of the month and YOUR NAME is your actual name.

    For example, mine might look like this:

    "2019-04-03 - James Orr - Definitions of Working Relationships.pdf"

    Mark as complete when you've saved it to your Dropbox.

    ASAPFirst Meeting: PaperworkNew ConstructionPaperworkUltimate Nomad ChecklistWeek 1

  11. Receive a copy of "Exclusive Right-To-Buy Listing Contract"
    Receive a copy of Exclusive Right-To-Buy Listing Contract or whatever the equivalent is in your local real estate market.

    James usually provides this via DocuSign for you to sign electronically along with:

    • "Definitions of Working Relationships"
    • "Professional Services Provided"
    • "Brokerage Disclosure Regarding New Construction"

    Mark this task complete once you've received it.

    First Meeting: PaperworkPaperworkUltimate Nomad ChecklistWeek 1

  12. Read "Exclusive Right-To-Buy Listing Contract"
    Read the "Exclusive Right-To-Buy Listing Contract" to prepare to discuss it with your Real Estate Broker.

    Mark this task complete once you've read it.

    First Meeting: PaperworkPaperworkUltimate Nomad ChecklistWeek 1

  13. Discuss the "Exclusive Right-To-Buy Listing Contract" with your Real Estate Broker
    Discuss the "Exclusive Right-To-Buy Listing Contract" with your Real Estate Broker including the following:

    • Your obligations in the "Exclusive Right-To-Buy Listing Contract".
    • Your Real Estate Broker's obligations in the "Exclusive Right-To-Buy Listing Contract".
    • The term of the agreement. I prefer to use 1 year or when you a buy a home, whichever comes first. Of course, see the note about terminating early below.
    • The types of houses and service area your Real Estate Broker is to show you.
    • How your Real Estate Broker is paid and why we often say the Buyer is obligated to pay (it is so we can negotiate getting the payment from the Seller or Seller's Broker).
    • How to terminate if your not happy with your Real Estate Broker. 99% of my agreements are written such that a Buyer can terminate with just an email to me at any time.

    Mark this task as complete when you understand the "Exclusive Right-To-Buy Listing Contract".

    First Meeting: PaperworkPaperworkUltimate Nomad ChecklistWeek 1

  14. Sign "Exclusive Right-To-Buy Listing Contract" via DocuSign
    Your Real Estate Broker will typically send over the "Exclusive Right-To-Buy Listing Contract" with the other documents for you to sign via DocuSign.

    Sign these by click on the link in your email and you will receive a copy of the signed documents via DocuSign.

    Mark this task as complete when you've signed your documents from your Real Estate Broker via DocuSign.

    First Meeting: PaperworkPaperworkUltimate Nomad ChecklistWeek 1

  15. Save copy of "Exclusive Right-To-Buy Listing Contract" to your Dropbox folder
    Save copy of "Exclusive Right-To-Buy Listing Contract" to your Dropbox folder using the filename format of:

    "YYYY-MM-DD - YOUR NAME - Exclusive Right-To-Buy Listing Contract.pdf"

    Where YYYY = the year, MM = the two digit month, DD = the two digit day of the month and YOUR NAME is your actual name.

    For example, mine might look like this:

    "2019-04-03 - James Orr - Exclusive Right-To-Buy Listing Contract.pdf"

    Mark as complete when you've saved it to your Dropbox.

    ASAPFirst Meeting: PaperworkNew ConstructionPaperworkUltimate Nomad ChecklistWeek 1

  16. Receive a copy of "Brokerage Disclosure Regarding New Construction"
    Receive a copy of "Brokerage Disclosure Regarding New Construction" (also known as "Risks of New Construction").

    James usually provides this via DocuSign for you to sign electronically along with:

    • "Definitions of Working Relationships"
    • "Exclusive Right-To-Buy Listing Contract"
    • "Professional Services Provided"

    Mark this task complete once you've received it.

    ASAPFirst Meeting: PaperworkNew ConstructionPaperworkUltimate Nomad ChecklistWeek 1

  17. Read "Brokerage Disclosure Regarding New Construction"
  18. Discuss the "Brokerage Disclosure Regarding New Construction" with your Real Estate Broker
    Discuss the "Brokerage Disclosure Regarding New Construction" with your Real Estate Broker.

    • The contracts that builders use are typically different than the contract the we use when buying a resale home from a Seller in the MLS or a FSBO.
    • The builder contracts tend to be very pro-builder whereas the contract we use elsewhere tends to be pro-Buyer.
    • Each builder contract is unique to each builder and is written usually by their attorney. Real Estate Brokers do not get training on the builder's contract and so we rely on the builder to explain it. If you have questions you may want to hire your own attorney to review it.

    Mark this task as complete when you feel you understand the "Brokerage Disclosure Regarding New Construction".

    ASAPFirst Meeting: PaperworkNew ConstructionPaperworkUltimate Nomad ChecklistWeek 1

  19. Sign "Brokerage Disclosure Regarding New Construction" via DocuSign
    Your Real Estate Broker will typically send over the "Brokerage Disclosure Regarding New Construction" with the other documents for you to sign via DocuSign.

    Sign these by click on the link in your email and you will receive a copy of the signed documents via DocuSign.

    Mark this task as complete when you've signed your documents from your Real Estate Broker via DocuSign.

    First Meeting: PaperworkPaperworkUltimate Nomad ChecklistWeek 1

  20. Save copy of "Brokerage Disclosure Regarding New Construction" to your Dropbox folder
    Save copy of "Brokerage Disclosure Regarding New Construction" to your Dropbox folder using the filename format of:

    "YYYY-MM-DD - YOUR NAME - Brokerage Disclosure Regarding New Construction.pdf"

    Where YYYY = the year, MM = the two digit month, DD = the two digit day of the month and YOUR NAME is your actual name.

    For example, mine might look like this:

    "2019-04-03 - James Orr - Brokerage Disclosure Regarding New Construction.pdf"

    Mark as complete when you've saved it to your Dropbox.

    ASAPFirst Meeting: PaperworkNew ConstructionPaperworkUltimate Nomad ChecklistWeek 1

Improvements to Make

In the future, I can improve on this and make it better. Here’s a short capture list of things I could (and probably should) do in the future to make this better.

  • Have this prettied up by a graphics design person.
  • Also, plan to add this to our “Northern Colorado Real Estate Advisor” book as a new page or section.
  • Add in a more detailed description of the resources on JamesOrr.com including the ability to search by cash on cash return, under-valued properties, comp properties and more.
  • Coaching/mentoring – describe the on-going coaching and mentoring that we provide and put a value on it.
  • As I add more to the Before, During and After checklists, update this as well.
  • Describe priority access in better terms like our “red velvet rope” policy for clients.
  • Add Option agreement and additional disclosures to it as I have those reviewed by attorney and I start providing them.
  • Tenant Screening Checklist
  • Tenant Criteria and Scoring checklists

Sponsors are encouraged to heavily borrow from my list below, tweak it to be in-line with the benefits you’re willing to provide and offer and then include it in your handouts and class schedules to people that come to classes for you in your local markets.

Nomad Basics

The following are additional tasks that are considered part of the Nomad Basics.

  1. Read "What is Nomad?"
  2. Read "Nomad on $10 Per Hour"
    Read "Nomad on $10 Per Hour" blog post:

    https://RealEstateFinancialPlanner.com/nomad-on-10-per-hour/

    Mark this done when complete.

    Nomad BasicsOptional

  3. Class Watch "Get Your First Deal Done" Recording of Live Class
  4. Class Watch "Buying Process Overview for Nomads" Recording of Live Class
  5. Class Watch "Financing Nomad 101" Recording of Live Class
    Watch the recording of the live presentation of "Financing Nomad 101" available on:

    https://RealEstateFinancialPlanner.com/financing-nomad-101/

    This class covers the different types of financing available and which ones we consider for Nomad. It goes into detail on Down Payments and much more.

    ASAPClassesFinancingFirst Meeting: FinancingGet Your First Deal DoneNomad BasicsUltimate Nomad ChecklistWeek 1

  6. Class Watch "Analyzing a Deal with Brian's Spreadsheet" Recording of Live Class
  7. Class Watch "Looking at Houses" Recording of Live Class
  8. Class Watch "How to Get Down Payment for Nomad" Recording of Live Class
  9. Review "Looking at Houses" Recording of Live Class
  10. Discuss tips for Showings with your Real Estate Broker
    Discuss the following tips for when you go on Showings with your Real Estate Broker:

    • Wear easy to remove shoes
    • WARNING: Sellers can easily record audio (and video) of you while inside their home... don't say anything inside the home that you wouldn't say right in front of the Seller. This is especially true of offer price and strategy.
    • Arrive 5 minutes early. Some Showing windows are very strict time ranges.
    • There may be others present at the Showing.
    • If Tenants are present, we typically will ask them questions about the property.
    • Drive/walk around the neighborhood especially if you're interested in the property.
    • Consider using the +/- system to make property notes.

    Get Your First Deal DoneNomad BasicsPre-ShowingsShowings: Looking at HousesUltimate Nomad ChecklistWeek 3

  11. IF CONSIDERING MAKING AN OFFER: Consider the following and discuss with your Real Estate Broker
    Discuss the following with your Real Estate Broker when you you're out on a Showing and considering making an offer:

    • Meet the neighbors... tell them you're considering making an offer on the property and ask them how they like the neighborhood.
    • What appliances are included? Which are excluded?
    • What school district is this in?
    • Is the AC included? What type of heat is used in the property?
    • Where is the water disconnect located?
    • What is the age and likely need to replace or update the major, expensive items like:
      furnance, AC, roof, carpet, paint, hot water heater. You'll also check these during inspection.
    • Where are the property lines?
    • Is there adequate parking? Is it owned? Is there adequate garage spaces? Is it owned?
    • What does the HOA cost? What is included?
    • Is there anything from the current "Seller's Property Disclosure"?
    • Is there anything from previous "Seller's Property Disclosure" from past sales?
    • Where is the sewer cleanout?
    • Are there smoke/CO detectors within 15 feet of each bedroom doorway?
    • Does the house already have a radon mitigation system? Is it passive or active?
    • Will you be having a property inspection (it is recommended)? Will you be testing for radon? Mold? Meth? Termiates? Sewer scope?
    • If this is a condo, is it a warrantable or non-warrantable condo?
    • What are the secret broker comments on the "MLS Sheet"?
    • What due diligence documents are you going to want to see?
    • Are there any additional documents provided by the Seller's agent in the MLS?

    Get Your First Deal DoneNomad BasicsPre-ShowingsShowings: Looking at HousesUltimate Nomad ChecklistWeek 3

  12. Class Watch "Nomad 101" Recording of Live Class
  13. Class Watch "Closing Real Estate Deals" Recording of Live Class
  14. Read "Catch Up For Retirement Nomad Overview"
  15. Read "Nomad with Lease Option Exit Book" for your city
  16. Read "Legacy Nomad Overview"
  17. Read "Young Nomad Overview"
  18. Class Watch "How to Acquire a Multi-Million Dollar Real Estate Portfolio with just $3,000" Recording of Live Class
    Watch the recording of the live presentation of "How to Acquire a Multi-Million Dollar Real Estate Portfolio with just $3,000" available on:

    https://realestatefinancialplanner.com/3k/

    ClassesGet Your First Deal DoneLease-OptionNomad BasicsTenant-BuyersUltimate Nomad ChecklistWeek 15

  19. Class Watch "Little Down Nomad Overview" Recording of Live Class
    Watch the recording of the live presentation of "Little Down Nomad Overview" available on:

    https://RealEstateFinancialPlanner.com/little-down-nomad-overview/

    ClassesLittle Down NomadNomad BasicsUltimate Nomad ChecklistWeek 27

  20. Read "Save For College Nomad Overview"
  21. Check out the local Nomad Investor Club meetup near you
    Check to see if we have local Nomad Investor Club meetups near you to connect with other local Nomads, real estate agents, lenders and other dream team members:

    https://RealEstateFinancialPlanner.com/real-estate-investor-classes-by-year/

    ASAPNomad BasicsUltimate Nomad ChecklistWeek 1

  22. Review Nomad Class Schedule for upcoming classes near you
    Take a moment to look at the Nomad Class Schedule to see the live classes we have coming up near you.

    https://RealEstateFinancialPlanner.com/real-estate-investor-classes-by-year/

    You can also get links to previously recorded classes.

    Nomad BasicsUltimate Nomad Checklist

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