FAQs

First Meeting with Buyers FAQs

What do you typically discuss at the first meeting with a buyer? At the first meeting with a buyer, I usually go over the following: Agency Documents: Definitions of Working Relationships Exclusive Right-To-Buy Listing Contract Professional Services Provided Your Real Estate Goals Financing Receiving Property Lists Analyzing Deals Writing Offers Of course, I don’t go into crazy level of detail for each of those steps. The initial meeting is more to give people an overview of the process and to provide them with some additional resources. How long does the first meeting with a buyer take? The first meeting with … Read more

Fixer Upper Nomad FAQs

Fixer Upper Nomad FAQs The following are FAQs related to the less common Fixer Upper Nomad model. Some individual FAQs may appear in more than one list if they cover a topic that would be categorized in more than one. What is Fixer Upper Nomad? Fixer Upper Nomad is the Nomad investing model except you’re looking for properties that need work. You buy the properties that need work, fix them up as you live in them and then in many cases convert them to lease option exits. There are a couple variations of the model where you don’t need to … Read more

Foreclosure FAQs

Can I do Nomad with a foreclosure? If you’ve had a foreclosure in the past and you’re wanting to get your financial life back in order maybe with Catch Up Nomad, you may be wondering… is it even possible to do Nomad if I had a previous foreclosure on my credit report. The answer to that question is yes… you can do Nomad if you’ve had a previous foreclosure. However, doing Nomad after a foreclosure does requires that you do things a little differently since you’ll be severely limited in your ability to get loans for a period of time. … Read more

Home Warranty FAQs

Should I buy a home warranty when I’m buying? Some Nomads see great value in buying a home warranty to reduce the risk of a repair on a home they’re buying. The home warranty companies, like an insurance company, are in business to make money so they are trying to collect more in premiums then they need to pay out in claims. So, over a large group of people they’ll almost always collect more by having people buy home warranties then they’ll pay out in repairs. However, any one individual could pay the relatively small home warranty premium cost when … Read more

Income FAQs

Do I need to earn more for each Nomad™ home that I buy? Maybe. It really depends on the properties you’re buying. In some cases you will need to earn more each year as you buy additional Nomad™ properties in year 2 on. In other cases the income you’re receiving from the previous Nomad™ properties you’ve purchased and are renting out will actually help you qualify for the next purchases. So, what really determines whether you’ll need to earn more to buy more Nomad™ properties or less? It is really the cash on cash return of the previous Nomad™ properties. … Read more