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The Real Estate Financial Planner™ software gives users unprecedented insight into how real estate investments impact your journey toward achieving financial independence. The software does an amazing job of modeling passive cash flow from rental properties and automatically adjusting cash flows as you consider paying off properties, refinancing properties, cash out refinancing properties and selling properties. But, until recently, it did not have a great way to model other forms of passive income like social security income, pensions and annuities. The software has the user define their Target Monthly Income in Retirement. Target Monthly Income in Retirement is the amount … Read more
One of the more common questions we get from real estate investors is Should I refinance my rental property?. It is right up there with Should I Sell My Rental Property?. However, the math for the decision making process is a little bit different. When considering selling you often look at your True Net Equity™ and the return you’re currently receiving on that equity. Then, you know what return you’d need to get on the proceeds from the sale (aka your True Net Equity™) with what you’re going to do with that money. When considering the question of refinancing, there … Read more
The following describes two things: A rough outline of the Initial Intake Zoom Meeting when you hire us to do a Your Initial Real Estate Financial Plan™ Consultation, and How we recommend you go about setting up your initial situation in the Real Estate Financial Planner™ software if you’re doing it yourself Time Estimate If you were to hire us, for a typical person with a reasonable number of Accounts, Properties and Rules, the initial intake call will take about an hour. If your situation is complex or you’re doing it yourself and learning as you go, expect it to … Read more
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For Buy-and-Hold Real Estate Investors, Nomads™ and House Hackers… Serious Real Estate Investor Education and Tools, Without All The Sleazy Hype! You get 1 full year of access to: Over 100 premium real estate investing classes Over 200 hours of video training Downloads: The World’s Greatest Real Estate Deal Analysis Spreadsheet™ How to Improve Cash Flow on Rentals Checklist Buying Criteria Worksheet Rental Property Bookkeeping and Accounting Spreadsheet Qualified Business Income Deduction with Rental Property Log Interest Rate Buy-Down Spreadsheet Off Market Deal Business Marketing Tracking Spreadsheet 240-page book with detailed analysis of 10 different investing plans 20 “secret” bonus … Read more
The following is the checklist to be used primarily by a real estate agent after an investor meeting. It is based on what I use as our checklist for preparing for our investor classes in Fort Collins.
So, we’ve talked about the different types of real estate investors, what they’re typically looking for, and how you might work with them as a real estate agent running a real estate investor group. Now, I’ll get right to it: why start and run a real estate investor group.
I think there are 4 compelling reasons for starting and running a real estate investor group.
“In an inflationary world, a toll bridge (like company) would be a great thing to own because you’ve laid out the capital costs. You built it in old dollars and you don’t have to keep replacing it.” – Warren Buffett
Once you take the time to setup your real estate investor group, it continues to produce for you over time. When we talk about ways to monetize your real estate investor group, you will also see that you can get paid for access to your group or profit directly from the group by offering your services as a real estate agent to some of the members.
Last year in our local market, one of the investor clubs sold. While I do not have inside information as to the sale price, my best guess is that it sold for just under $100,000.
Investing in growing your own investor group is investing in a saleable, appreciating asset. The longer you own and grow your group, the more it is worth.
A real estate agent coming into my market could buy my real estate investor group from me and start generating commissions from it right away. It is like buying an established, up-and-running, highly profitable, lead-generating machine.
I consider the first two reasons for starting and running an investor group as bonus reasons. The next two reasons for starting and running an investor group are the best reasons of all.
If you’re a candidate for the Save For College Nomad model, you’re probably short on sleep so I’ll try to keep this short. It is just one of the five types of Nomads.
The Save For College Nomad is typically a strategic thinking parent of young children with a good to great job who realizes that they need to be planning now to be able to pay for college for their kids while they’re still relatively young. The sooner you start, the easier (and less expensive) it will be.
In the most vanilla of versions (and there are lots of variations), you would be buying a property, moving in and living there for one year before converting it to a rental property. You’ll repeat this 10 times.
In an ideal world, you start this plan the year your first child is born (or earlier). I’ll show you the math if you start a little later below (towards the end).
I’ve made some assumptions to create this model for you and I’ll be explaining what my assumptions are. We can evaluate the Save For College Nomad model with other assumptions to see how that affects it as well and I will do that in the future for you.
I will tell you that I believe, deep down, that the assumptions I use are very conservative but let me know if you’d like me to run it with different assumptions.
I’ve modeled buying 10 houses over 10 years in this example. I am using an actual property that is currently for sale in Northern Colorado as of July, 2015. So, yes, these numbers are real.
You’ll be buying the first property for $238,875. That price would include 2% in closing costs in the form of Seller Concessions.
After buying a Nomad property, you should remember to change your address with various companies. We’ve integrated the following list right into the Ultimate Nomad Checklist and the list of things to do immediately after closing, but here is a stand alone list for your reference. If you have additional suggestions, please do let me know.