Checklist Tags

These are the checklists related to ASAP.

The ASAP tag is primarily for tasks that you should do "as soon as possible". That might mean doing them ahead of where they may appear in the Ultimate Nomad Checklist™.

If you have any questions ask your Real Estate Broker or James (if he's your Real Estate Broker).

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. Complete "Before" checklist
    Complete the "Before" checklist for tasks that you should do before you start buying a property:

    https://RealEstateFinancialPlanner.com/before/

    ASAPBefore ChecklistsUltimate Nomad ChecklistWeek 1

  2. Class Watch "Get Your First Deal Done" Recording of Live Class
  3. Class Watch "Buying Process Overview for Nomads" Recording of Live Class
  4. Read "Benefits of Becoming a Client"
  5. Determine your Real Estate Broker
    Meet with James for lunch to discuss working with him. You can request a meeting by scheduling an appointment on his calendar:

    https://JamesOrr.com/meet/

    Mark this task as done once you've selected a Real Estate Broker to work with.

    ASAPBuying Process OverviewDream TeamDream Team - Pre-ClosingUltimate Nomad ChecklistWeek 1

  6. Complete "First Meeting: Paperwork" checklist
  7. 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

  8. 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

  9. 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

  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. 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

  12. 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

  13. Read "Brokerage Disclosure Regarding New Construction"
  14. 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

  15. 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

  16. Complete "First Meeting: Professional Services Provided" checklist
  17. Receive a copy of "Professional Services Provided"
    Receive a copy of "Professional Services Provided".

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

    • "Definitions of Working Relationships"
    • "Exclusive Right-To-Buy Listing Contract"
    • "Brokerage Disclosure Regarding New Construction"

    Mark this task complete once you've received it.

    ASAPFirst Meeting: Professional Services ProvidedPaperworkProfessional Services ProvidedUltimate Nomad ChecklistWeek 1

  18. Read "Professional Services Provided"
  19. Discuss the "Professional Services Provided" with your Real Estate Broker
  20. Save copy of "Professional Services Provided" to your Dropbox folder
    Save copy of "Professional Services Provided" to your Dropbox folder using the filename format of:

    "YYYY-MM-DD - YOUR NAME - Professional Services Provided.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 - Professional Services Provided.pdf"

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

    ASAPFirst Meeting: Professional Services ProvidedNew ConstructionPaperworkUltimate Nomad ChecklistWeek 1

  21. Complete "First Meeting: Your Real Estate Goals" checklist
  22. Define my goal: Purchase a Nomad property that will ultimately be a rental in the next 3 months.
    Define your goal for your next Nomad property to move into that will ultimately become a rental after at least a year.

    A suggestion might be: Purchase a Nomad property that will ultimately be a rental in the next 3 months.

    ASAPFirst Meeting: Your Real Estate GoalsGoalsUltimate Nomad ChecklistWeek 1

  23. Define my goal: Purchase a owner-occupant property in the next 3 months.
    Define your goal for your next owner-occupant property to move into.

    A suggestion might be: Purchase an owner-occupant property that I will move into within the next 3 months.

    ASAPFirst Meeting: Your Real Estate GoalsGoalsUltimate Nomad ChecklistWeek 1

  24. Define my goal: Purchase an investment rental property (without a partner) in the next 3 months.
    Define your goal to buy an additional non-owner-occupant rental property without a partner.

    A suggestion might be: Purchase an investment rental property (without a partner) in the next 3 months.

    ASAPFirst Meeting: Your Real Estate GoalsGoalsUltimate Nomad ChecklistWeek 1

  25. Partnership Define my goal: Purchase an investment rental property with a partner in the next 3 months.
    If this is for a partnership, define your partnership goal.

    A suggestion might be: Purchase an investment rental property with a partner in the next 3 months.

    ASAPFirst Meeting: Your Real Estate GoalsGoalsPartnershipsUltimate Nomad ChecklistWeek 1

  26. Discuss your goals with your Real Estate Broker
    During your meeting with your Real Estate Broker discuss your goals and your plan to achieve them.

    Some common discussion points include:

    • What you're committed to achieving (not just wishing you could achieve)
    • Finding an owner occupant property
    • Finding a Nomad property
    • Nomad investing plan to acquire rentals and/or catch up for retirement
    • Finding a buy and hold property
    • Finding a properties where you can put a Lease-Option Tenant-Buyer in it
    • Finding a fix and flip property
    • Finding creative off-market transactions
    • Model Nomad with calculator and on-going discussions
    • Clients can schedule a time with me to discuss their personal goals regularly

    Mark this task as complete when you've discussed your goals with your Real Estate Broker.

    ASAPFirst Meeting: Your Real Estate GoalsGoalsUltimate Nomad ChecklistWeek 1

  27. Create "Future Narrative"
    Take an afternoon and create your own "Future Narrative" of what you'd like your life to look like.

    Reference the following resources for more information:

    You'll be reviewing your "Future Narrative" weekly.

    Mark this task as complete once you've created your own "Future Narrative".

    ASAPFirst Meeting: Your Real Estate GoalsFuture NarrativeGoalsUltimate Nomad ChecklistWeek 1

  28. Review my "Future Narrative"
  29. Schedule on your calendar when you'll do this week's tasks from your Future Narrative
    You're much more likely to follow through on your goals if you plan out when you'll do the steps to achieve them.

    So, take a moment to schedule out on your calendar when you'll actually do the tasks for this week on your calendar. Make an appointment with yourself to do them. If you need to reschedule one, reschedule it (don't delete it).

    ASAPFirst Meeting: Your Real Estate GoalsUltimate Nomad ChecklistWeek 1Week 10Week 11Week 12Week 13Week 14Week 15Week 16Week 17Week 18Week 19Week 2Week 20Week 21Week 22Week 23Week 24Week 25Week 26Week 27Week 28Week 29Week 3Week 30Week 31Week 32Week 33Week 34Week 35Week 36Week 37Week 38Week 39Week 4Week 40Week 41Week 42Week 43Week 44Week 45Week 46Week 47Week 48Week 49Week 5Week 50Week 51Week 52Week 53Week 54Week 6Week 7Week 8Week 9

  30. Complete "First Meeting: Financing" checklist
  31. 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

  32. Complete "First Meeting: Receive Property Lists" checklist
  33. Class Watch "Finding Properties for Nomads" Recording of Live Class
  34. Discuss how MySite works
    Talk to your Real Estate Broker how receiving property list emails and MySite works.

    Mark this task as complete once you've learned about receiving properties via email and using MySite.

    ASAPFirst Meeting: Receive Property ListsGet Your First Deal DoneProperty SearchUltimate Nomad ChecklistWeek 1

  35. Determine your property investment criteria
    Define what your property investment property criteria.

    Often your investment criteria will not be easily searchable in the MLS. For example, you may want to see:

    • Certain dollar amount of cash flow with 20% down, or
    • Certain percentage of cash on cash return on investment with 20% down, or
    • Certain dollar amount below market

    While James has special searches set up on JamesOrr.com for you to use to find these types of properties, it is not easily setup as an automatic search directly from the MLS.

    Discuss with your Real Estate Broker if you have questions.

    Mark this task complete once you know your property investment criteria.

    ASAPFirst Meeting: Receive Property ListsUltimate Nomad ChecklistWeek 1

  36. Determine your acceptable property characteristics
    Define what your acceptable property characteristics are. These are characteristics it is easy to search for in the MLS.

    Examples include:

    • Cities you'd be willing to invest in
    • Minimum (and maybe maximum) number of bedrooms
    • Garage or no garage
    • Mobile homes? Condos? Townhomes? SFH? Multi-Family (2-4 units)? Commercial multi-family (5+ units)?
    • Price? Minimum? Maximum?
    • Property age? New construction?

    Discuss with your Real Estate Broker if you have questions.

    Mark this task complete once you know your acceptable property characteristics.

    ASAPFirst Meeting: Receive Property ListsUltimate Nomad ChecklistWeek 1

  37. Send investment criteria to your Real Estate Broker
    Send the investment criteria you determined in a previous task to your Real Estate Broker so they can set up a search in the MLS to send you properties.

    Mark this task complete once you have sent your criteria to your Real Estate Broker.

    Analyzing DealsASAPFirst Meeting: Receive Property ListsProperty SearchUltimate Nomad ChecklistWeek 1

  38. Discuss how JamesOrr.com property search works
    Discuss with James how searching for properties on JamesOrr.com works including:

    • How to use pre-defined searches from the Homepage
    • How to setup your own searches
    • How to setup for properties by monthly payment
    • How to setup for properties by cash on cash return
    • How to setup for properties by ratio of price to taxes (to find potentially under-valued properties)

    ASAPFirst Meeting: Receive Property ListsProperty SearchUltimate Nomad ChecklistWeek 1

  39. Discuss ColoProperty.com
    Discuss with James why you should use ColoProperty.com to check any properties you find on other websites before contacting James about them.

    Websites like Zillow, Realtor, Trulia, Redfin, etc can have inaccurate or delayed data.

    ColoProperty.com is the direct interface to our local MLS and so it is the most up-to-date website for checking property status, pricing, etc.

    If you're going to use other websites, please check ColoProperty.com before emailing James about it to make sure the info from those other websites is correct.

    ASAPFirst Meeting: Receive Property ListsProperty SearchUltimate Nomad ChecklistWeek 1

  40. REAL ESTATE BROKER: Setup automatic property search emails
    Have your Real Estate Broker set you up to receive automatic property search emails with properties that match your criteria.

    Usually this means telling your Real Estate Broker:

    • Cities you'd consider (or in some cases parts of specific cities)
    • Attached, detached or both
    • Minimum beds and bathrooms
    • Price max (and maybe a price minimum)
    • Garage requirements
    • Any other requirements that Real Estate Broker can set up a search for

    Mark this complete once your Real Estate Broker has started to send you automatic property search emails.

    ASAPFirst Meeting: Receive Property ListsProperty SearchUltimate Nomad ChecklistWeek 1

  41. Complete "First Meeting: Analyze Deals" checklist
  42. Class Watch "Analyzing Deals 101" Recording of Live Class
    Watch the recording of the live presentation of "Analyzing Deals 101: an Intro to Cash on Cash Return on Investment" available on:

    https://RealEstateFinancialPlanner.com/cash-on-cash/

    Analyzing DealsASAPCash FlowClassesFirst Meeting: Analyze DealNet Operating IncomeReturn On InvestmentUltimate Nomad ChecklistWeek 18Week 2

  43. Class Watch "Analyzing a Deal with Brian's Spreadsheet" Recording of Live Class
  44. Determine your acceptable property characteristics (if you haven't done so already)
    Define what your acceptable property characteristics are if you haven't already done so.

    Remember, these are characteristics it is easy to search for in the MLS. Examples include:

    • Cities you'd be willing to invest in
    • Minimum (and maybe maximum) number of bedrooms
    • Garage or no garage
    • Mobile homes? Condos? Townhomes? SFH? Multi-Family (2-4 units)? Commercial multi-family (5+ units)?
    • Price? Minimum? Maximum?
    • Property age? New construction?

    Discuss with your Real Estate Broker if you have questions.

    Mark this task complete once you know your acceptable property characteristics.

    ASAPFirst Meeting: Analyze DealUltimate Nomad ChecklistWeek 1

  45. Read "Net Operating Income"
  46. Class Watch "Strategies to Get the Lowest Monthly Payment When Buying Real Estate" Recording of Live Class
    Watch the recording of the live presentation of "Strategies to Get the Lowest Monthly Payment When Buying Real Estate" available on:

    https://RealEstateFinancialPlanner.com/lowest-monthly-payment/

    Analyzing DealsASAPCash FlowClassesFirst Meeting: Analyze DealMaking OffersUltimate Nomad ChecklistWeek 58Week 6

  47. Get Insurance Quote for analysis
    Call your Insurance Agent and get an Insurance Quote estimate to use when analyzing properties using Brian's Deal Analysis Spreadsheet.

    You'll modify this slightly based on the price of the property you're analyzing.

    You may want to discuss with your Insurance Agent additional coverage for Loss of Rent.

    Your Insurance Quote typically varies based on your credit score and the deductible amount you choose.

    Mark this task complete when you have an insurance estimate to use when analyzing deals using Brian's Spreadsheet.

    Analyzing DealsASAPFirst Meeting: Analyze DealNet Operating IncomeUltimate Nomad ChecklistWeek 2

  48. REAL ESTATE BROKER: Setup Lease-Option Search Page on JamesOrr.com
    If you're going to allow your Tenant-Buyer to select any property from the MLS where you'd buy it and then offer it to them on a Lease Option, then setup your search page on JamesOrr.com.

    Talk to James to have him show you this and get it set up for you.

    Mark this task complete when it is setup or if you decide you're not doing this.

    Analyzing DealsASAPFirst Meeting: Analyze DealLease-OptionMarketingOptionalTenant-BuyersUltimate Nomad ChecklistWeek 2

  49. Customize your Lease-Option Search Page on JamesOrr.com
    If you're going to allow your Tenant-Buyer to select any property from the MLS where you'd buy it and then offer it to them on a Lease Option, then after James sets up your search page on JamesOrr.com you will want to customize with your specific investing criteria.

    Mark this task complete when you've customized your Lease Option Search Page on JamesOrr.com.

    Analyzing DealsASAPFirst Meeting: Analyze DealLease-OptionMarketingOptionalTenant-BuyersUltimate Nomad ChecklistWeek 2

  50. Setup custom domain name for your Lease-Option Search Page on JamesOrr.com
    If you're going to allow your Tenant-Buyer to select any property from the MLS where you'd buy it and then offer it to them on a Lease-Option, then after James sets up your search page on JamesOrr.com you may want to purchase and setup a custom domain name for it.

    The custom domain name will allow you to use that domain name on your marketing and have it URL frame the page James set up for you.

    Ask James and he can usually get you a domain name and set it up for you for about $10 per year.

    Mark this task complete when you've purchased a custom domain and had it set up for your Lease-Option Search Page on JamesOrr.com.

    Analyzing DealsASAPFirst Meeting: Analyze DealLease-OptionMarketingOptionalTenant-BuyersUltimate Nomad ChecklistWeek 2

  51. Complete "First Meeting: Write Offer" checklist
  52. Class Watch "Low Ball Offer Case Studies" Recording of Live Class
    Watch the recording of the live presentation of "Low Ball Offer Case Studies" available on:

    https://RealEstateFinancialPlanner.com/low-ball-offer/

    ASAPClassesFirst Meeting: Write OfferMarket StatsUltimate Nomad ChecklistWeek 59Week 7

  53. Discuss what is required to write an offer
    Discuss with your Real Estate Broker what is required when you're ready to write an offer.

    Here is most of what is required as a guide to discuss:

    • Full name(s) as you want it to appear on title
    • Offer price
    • Seller concessions amount (if any)
    • Earnest money amount and when it is due
    • Down payment amount and when it is due
    • Loan type or types you are considering to buy the property
    • Days until you close
    • Any dates and deadlines that are a concern from you that differ from the norm
    • Loan pre-approval letter
    • Who's paying the Closing Services Fee
    • Any due diligence documents you require
    • Anything you might want to do to make your offer stronger

    Mark this task as complete once you understand what is required to write an offer when you're ready.

    ASAPFirst Meeting: Write OfferUltimate Nomad ChecklistWeek 7

  54. Receive a generic copy of the "Contract to Buy and Sell Real Estate"
    Receive a completed copy of the "Contract to Buy and Sell Real Estate" from your Real Estate Broker so you can see how it might look filled out in a generic way.

    ASAPFirst Meeting: Write OfferUltimate Nomad ChecklistWeek 7

  55. Read through "Contract to Buy and Sell Real Estate"
    Read through the generic completed version of the "Contract to Buy and Sell Real Estate" with a pen and a highlighter. Highlight sections you have questions about and write down your questions on the contract itself.

    Schedule time to meet with your Real Estate Broker, Attorney and CPA as needed to get your questions answered.

    ASAPFirst Meeting: Write OfferUltimate Nomad ChecklistWeek 7

  56. Meet with your Attorney to go over "Contract to Buy and Sell Real Estate"
    Once you've read through the "Contract to Buy and Sell Real Estate" and highlighted sections you have questions about, take your questions and meet with your Contract and Paperwork Attorney and go over your questions about the "Contract to Buy and Sell Real Estate".

    Better to do this well before you have an offer you're about to make so you don't delay making your offer and miss out on a property you really want.

    Mark this task as complete once you feel comfortable with the "Contract to Buy and Sell Real Estate".

    ASAPFirst Meeting: Write OfferUltimate Nomad ChecklistWeek 7

  57. Meet with your Real Estate Broker to go over "Contract to Buy and Sell Real Estate"
    Once you've read through the "Contract to Buy and Sell Real Estate" and highlighted sections you have questions about, take your questions and meet with your Real Estate Broker and go over your questions about the "Contract to Buy and Sell Real Estate".

    Better to do this well before you have an offer you're about to make so you don't delay making your offer and miss out on a property you really want.

    Mark this task as complete once you feel comfortable with the "Contract to Buy and Sell Real Estate".

    ASAPFirst Meeting: Write OfferUltimate Nomad ChecklistWeek 7

  58. Meet with your CPA to go over "Contract to Buy and Sell Real Estate"
    Once you've read through the "Contract to Buy and Sell Real Estate" and highlighted sections you have questions about, take your tax related questions and meet with your CPA and go over your questions about the "Contract to Buy and Sell Real Estate".

    Better to do this well before you have an offer you're about to make so you don't delay making your offer and miss out on a property you really want.

    Mark this task as complete once you feel comfortable with the "Contract to Buy and Sell Real Estate".

    ASAPFirst Meeting: Write OfferUltimate Nomad ChecklistWeek 7

  59. Complete "Pre-Showings: Qualify with Lender" checklist
  60. Ask Real Estate Broker for list of possible Lenders
    Ask your Real Estate Broker to suggest 3 possible Lenders to contact for financing your home purchase based on the types of loans you're considering.

    You're welcome to use whichever Lender you choose (from the Real Estate Broker's recommendations or your own), however... you should realize that making sure your Lender performs if your responsibility.

    In other words, if your Lender does not show up on the day of closing with the money for whatever reason, you are still in default on the "Contract to Buy and Sell Real Estate" (not your Lender) and you are at risk of losing your Earnest Money (and specific performance in the unlikely event that box is checked on the "Contract to Buy and Sell Real Estate"). Another way of saying this is: your Lender is not a party to the "Contract to Buy and Sell Real Estate" and so they have no consequences in the "Contract to Buy and Sell Real Estate" if they don't perform.

    So, consider "testing" a new Lender carefully.

    ASAPDream TeamDream Team - Pre-ClosingFinancingPre-Showings: Qualify with LenderUltimate Nomad ChecklistWeek 2

  61. Interview 3 Lenders
    Talk to 3 Lenders to determine which one you'd like to use.

    Ask your Real Estate Broker for recommendations.

    You may want to consider at least reading through the Mortgage Broker Interview Questions for some ideas of what you might want to ask:

    https://JamesOrr.com/mortgage-broker-interview-questions/

    Mark complete once you've talked to 3 Lenders of if you've already decided which Lender you plan to use.

    ASAPDream TeamDream Team - Pre-ClosingFinancingPre-Showings: Qualify with LenderUltimate Nomad ChecklistWeek 2

  62. Determine your Lender
    Decide which Lender you will use to finance your purchase.

    You can ask your Real Estate Broker for recommendations.

    Mark this task complete once you've decided on a Lender to use.

    Analyzing DealsASAPDream TeamDream Team - Pre-ClosingFinancingPre-Showings: Qualify with LenderUltimate Nomad ChecklistWeek 2

  63. Apply for loan with Lender
    Make an application to get qualified for a loan with the Lender you've decided you're going to use.

    Some people will opt to get quotes from multiple lenders. If you're going to do this, compare everyone on the same day so the rate is the same.

    Also, have the Lender you think is most likely to be the one you'll go with pull your credit and then tell the other Lenders you're comparing what your credit score is. If you decide to go with them, you'll let them pull your credit then.

    Your ultimate goal at this point is to get a pre-approval letter for the max amount you qualify for.

    If you need a recommendation for a Lender ask your Real Estate Broker.

    Mark this task complete once you've applied for a loan and been approved with the Lender you plan to use.

    ASAPFinancingPre-Showings: Qualify with LenderUltimate Nomad ChecklistWeek 2Week 54

  64. Understand what documents your Lender will need
    Understand what documents your lender will ultimately need to do your loan and start gathering and preparing those documents.

    ASAPFinancingPre-Showings: Qualify with LenderUltimate Nomad ChecklistWeek 2Week 54

  65. Find out what interest rate and down payment amount you'll likely get
    Find out what interest rate and what down payment amount you'll likely get when you get your loan.

    You'll want to use this when you start to analyze properties using Brian's Spreadsheet.

    ASAPFinancingPre-Showings: Qualify with LenderUltimate Nomad ChecklistWeek 2Week 54

  66. IF OWNER OCCUPANT: Find out your estimated monthly payments
    If you're going to owner occupy the property especially, find what your estimated monthly payment will be for both your max loan that you can qualify for and the price you're comfortable with that you'll likely be buying at.

    ASAPFinancingPre-Showings: Qualify with LenderUltimate Nomad ChecklistWeek 2Week 54

  67. Send copy of "Contract to Buy and Sell Real Estate" to your Lender
    As soon as your "Contract to Buy and Sell Real Estate" is accepted, make sure your Lender has a copy so they can complete your application and start working on getting your financing approved and through under-writing.

    ASAPFinancingUltimate Nomad ChecklistWeek 2Week 54

  68. Complete "Pre-Showings: Pre-approval Letter" checklist
  69. Get max "Lender Letter"
    Get Pre-Approval letter from Lender for the max you can afford. We will only use this if you're unable to reach your Lender and you want to submit an offer right away. Otherwise, we will ask your Lender for an updated "Lender Letter" for the exact Purchase Price.

    Having a "Lender Letter" helps you get your offer accepted.

    ASAPFinancingPre-Showings: Pre-approval LetterUltimate Nomad ChecklistWeek 2Week 54

  70. Save max "Lender Letter" to your Dropbox
    Save a copy of your max "Lender Letter" to your Dropbox using the file format:

    "YYYY-MM-DD - FULL NAME - Max Lender Pre-Approval Letter.pdf"

    ASAPFinancingPre-Showings: Pre-approval LetterUltimate Nomad ChecklistWeek 2Week 54

  71. Send max "Lender Letter" to Real Estate Broker
    Send a copy of your max "Lender Letter" to your Real Estate Broker.

    ASAPFinancingPre-Showings: Pre-approval LetterUltimate Nomad ChecklistWeek 2Week 54

  72. Complete "Pre-Showings: Earnest Money" checklist
  73. Discuss typical amount of Earnest Money with Real Estate Broker
    Discuss the typical amount of Earnest Money with your Real Estate Broker.

    In Northern Colorado, Earnest Money is typically about 1% of the purchase price of the property but is negotiated between Buyer and Seller.

    However, offering less Earnest Money than the Seller is requesting on the MLS listing is typically considered a weaker offer.

    If you're buying a property with little or no money down (especially less than what Earnest Money would be), discuss with your Real Estate Broker some possible strategies for trying to get an offer accepted in this situations. It may be harder to get your offer accepted in these situations so you may need to be more flexible in the homes you're looking at until we find a more flexible Seller.

    Mark this task done when complete.

    ASAPEarnest MoneyFinancingMaking OffersPre-Showings: Earnest MoneyUltimate Nomad ChecklistWeek 2

  74. Determine the source of your Earnest Money
    You will need Earnest Money at the time you make your offer. It can vary and is negotiated but it is typically about 1% of the purchase price of the property you're going to buy. Earnest Money typically does count towards your Down Payment.

    For a $300,000 property, that means you'll likely need about $3,000 for Earnest Money at the time you make your offer. Do you know where those funds are and are they readily accessible?

    Discuss this with your Real Estate Broker if you have additional questions or concerns.

    Mark this task done when complete.

    ASAPEarnest MoneyFinancingMaking OffersPre-Showings: Earnest MoneyUltimate Nomad ChecklistWeek 2

  75. Complete "Pre-Showings: Down Payment" checklist
  76. Class Watch "How to Get Down Payment for Nomad" Recording of Live Class
  77. Determine the source of your Down Payment and Closing Costs
    Make sure that you know the source of your Down Payment and Closing Costs.

    You will need at least the Earnest Money when you make your offer. You will need the Down Payment and Closing Costs for closing.

    Discuss the timing with your Real Estate Broker and/or Lender if you have any concerns.

    ASAPDown PaymentFinancingPre-Showings: Down PaymentUltimate Nomad ChecklistWeek 2

  78. 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

  79. 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

  80. Complete "Pre-Showings: Mock Contract" checklist
  81. Class Watch "Contract To Buy and Sell in Detail" Recording of Live Class
    Watch the recording of the live presentation of "Contract To Buy and Sell in Detail" available on:

    https://JamesOrr.com/contract-buy-sell-real-estate-detail/

    ASAPClassesPaperworkPre-Showings: Mock ContractUltimate Nomad ChecklistWeek 2

  82. Review "Contract to Buy and Sell Real Estate"
    Read through the "Contract to Buy and Sell Real Estate". Highlight any sections you have questions about. Write down your questions.

    Mark this task complete once you've read through the "Contract to Buy and Sell Real Estate". You'll be scheduling time to meet with your Contract and Paperwork Attorney, Accountant, Insurance Agent and/or your Real Estate Broker to have your questions answered in additional tasks.

    ASAPPaperworkPre-Showings: Mock ContractUltimate Nomad ChecklistWeek 2

  83. Review "Lead-Based Paint Disclosure"
    Read through the "Lead-Based Paint Disclosure". Highlight any sections you have questions about. Write down your questions.

    You'll only need this if the property was built prior to January 1, 1978 but it is good to have reviewed it ahead of time so you understand it in case you look at properties built prior to this date.

    Mark this task complete once you've read through the "Lead-Based Paint Disclosure". You can schedule time to meet with your Contract and Paperwork Attorney, Accountant, Insurance Agent and/or your Real Estate Broker to have your questions answered in additional tasks.

    ASAPPaperworkPre-Showings: Mock ContractUltimate Nomad ChecklistWeek 2

  84. Review "Source of Water Addendum"
    Read through the "Source of Water Addendum". Highlight any sections you have questions about. Write down your questions.

    Mark this task complete once you've read through the "Source of Water Addendum".

    You can schedule time to meet with your Contract and Paperwork Attorney, Accountant, Insurance Agent and/or your Real Estate Broker to have your questions answered in additional tasks.

    ASAPPaperworkPre-Showings: Mock ContractUltimate Nomad ChecklistWeek 2

  85. Review "Seller's Property Disclosure"
    Read through the "Seller's Property Disclosure" for the property you're considering making an offer on or after you've made the offer if the Seller failed to provide ahead of time.

    Mark this task complete once you've read the "Seller's Property Disclosure".

    ASAPMaking OffersPaperworkPre-Showings: Mock ContractSellers Property DisclosureUltimate Nomad ChecklistWeek 2Week 3Week 4Week 5Week 6Week 7Week 8Week 9

  86. Review "Square Footage Disclosure"
    Read through the "Square Footage Disclosure" to see if you have any questions about information in that disclosure.

    Mark this task complete once you've read the "Square Footage Disclosure".

    ASAPMaking OffersPaperworkPre-Showings: Mock ContractUltimate Nomad ChecklistWeek 2Week 3Week 4Week 5Week 6Week 7Week 8Week 9

  87. IF FORT COLLINS: Review "Occupancy Limits Disclosure For Property Sale"
    Read through the "Occupancy Limits Disclosure For Property Sale" to see if you have any questions about information in that disclosure.

    Mark this task complete once you've read the "Occupancy Limits Disclosure For Property Sale".

    ASAPMaking OffersPaperworkPre-Showings: Mock ContractUltimate Nomad ChecklistWeek 2Week 3Week 4Week 5Week 6Week 7Week 8Week 9

  88. Meet with Real Estate Broker to review the "Contract to Buy and Sell Real Estate" and additional disclosures
    Meet with your Real Estate Broker to go over the highlighted sections of the "Contract to Buy and Sell Real Estate" and the additional disclosures. Ask your Real Estate Broker your questions about the "Contract to Buy and Sell Real Estate".

    Mark this task complete once you understand the "Contract to Buy and Sell Real Estate" and feel comfortable with it.

    ASAPPaperworkPre-Showings: Mock ContractUltimate Nomad ChecklistWeek 2

  89. Meet with Contract and Paperwork Attorney to review the "Contract to Buy and Sell Real Estate" and additional disclosures
    Meet with your Contract and Paperwork Attorney to go over the highlighted sections of the "Contract to Buy and Sell Real Estate" and any additional disclosures. Ask your Attorney your questions about the "Contract to Buy and Sell Real Estate".

    Mark this task complete once you understand the "Contract to Buy and Sell Real Estate" and feel comfortable with it.

    ASAPPaperworkPre-Showings: Mock ContractUltimate Nomad ChecklistWeek 2

  90. Interview 3 Accountants
    Talk to 3 Accountants to determine which one you'd like to use.

    Ask your Real Estate Broker for recommendations.

    Mark complete once you've talked to 3 Accountants of if you've already decided which Accountant you plan to use.

    AccountingASAPBookkeepingBookkeeping and Accounting for NomadsDream TeamDream Team - Pre-ClosingUltimate Nomad ChecklistWeek 2

  91. Meet with Accountant to review the "Contract to Buy and Sell Real Estate" and additional disclosures
    Meet with your Accountant to go over the highlighted sections of the "Contract to Buy and Sell Real Estate" and any additional disclosures. Ask your Accountant your questions about the "Contract to Buy and Sell Real Estate".

    Mark this task complete once you understand the "Contract to Buy and Sell Real Estate" and feel comfortable with it.

    ASAPPaperworkPre-Showings: Mock ContractUltimate Nomad ChecklistWeek 2

  92. Create property folder on your computer within Dropbox
    Create a folder for this property purchase on your computer within Dropbox to stay organized.

    Mark this task complete once you've created the folder.

    ASAPComputer SetupShowingsUltimate Nomad ChecklistWeek 2Week 3Week 4Week 5Week 6Week 7Week 8Week 9

  93. Class Watch "Nomad 101" Recording of Live Class
  94. Determine how you'll take Title to Property
    With the help of your Attorney and Accountant, determine how you will take title to the Property you're buying.

    Common choices include: severalty (for one person or entity), joint tenants or tenants in common.

    You'll need this to make an offer.

    Mark this task complete once you know how you'll take Title to the Property.

    ASAPUltimate Nomad ChecklistWeek 12Week 4Writing Offer: Info Required

  95. Provide Real Estate Broker with the info to write your offer
    Your Real Estate Broker will need certain information from you to be able to write your offer. Here's a list of some of the information they may need:

    • Offer price
    • Earnest Money amount (default to what Seller is asking in the MLS)
    • Who will pay the Closing Services Fee (usually around $300 to $400 depending on the Title Insurance Company)
    • If you're negotiating/insisting on choosing Title Insurance Company, then which Title Insurance Company you want to use.
    • Who pays for Appraisal (it is customary for Buyer to pay)
    • Who pays for Owner's Title Insurance Policy (it is customary for Seller to pay)
    • What Loan type or types are you considering using to finance the purchase?
    • How much Down Payment are you going to put down?
    • Any Additional Provisions you want added? Common ones might include: additional disclosures for Fort Collins (which we typically add for you by default), limited appraisal language, light or limited inspection language and asking for personal property (which may complicate your ability to get a Loan to cover those).
    • How much are you asking for in Seller Concessions?
    • Is there a property you must sell before you can buy this?
    • Are you offering the Seller a "Post-Closing Occupancy Agreement" to allow them to stay in the property beyond Closing?
    • What due diligence documents are you requesting?
    • What is your travel/work schedule like? Will it impact inspection? Will it impact Closing?

    Mark this task complete once you've emailed your Real Estate Broker the information they need above to write your offer.

    ASAPUltimate Nomad ChecklistWeek 12Week 4Writing Offer: Info Required

  96. IF NEW CONSTRUCTION: Consider the following extras
    If you're buying new construction consider that not all properties come with the same upgrades. Ask the following questions and if it is not included, considering adding it when you write your contract. Changes later to the contract often will cost you a change order fee from the builder so it is important to do it at the time of writing your offer.

    • Does it include Air Conditioning?
    • Does it include window blinds for the entire property? Some builder don't include any. Some include just a few windows.
    • Does it include backyard landscaping?
    • Does it include a fence?
    • Does it include all appliances? Refrigerator? Dishwasher? Stove? Microwave? Clothes washer? Clothes dryer?
    • Does it include garage door opener?

    ASAPNew ConstructionUltimate Nomad ChecklistWeek 12Week 4Writing Offer: Info Required

  97. IF NEW CONSTRUCTION: Consider the following for lot selection
    If you're buying new construction consider the following factors when selecting a lot to build on:

    • Does it face north? North facing lots often have icy front steps.
    • Does it get sunlight in the rooms you desire at the times of day you desire? This varies by person, so consider it for yourself.
    • Do you want a corner lot? Some people prefer not having another neighbor. Some people prefer not having to shovel two long sidewalks and having people walking on the side of their homes.
    • Is there a lot by open space or other desirable feature?
    • Is the lot by a busy street?
    • Is the lot on a street that most people will need to drive by to access the neighborhood?

    ASAPNew ConstructionUltimate Nomad ChecklistWeek 12Week 4Writing Offer: Info Required

  98. Class Watch "Seller's Property Disclosure Case Studies" Recording of Live Class
  99. If you haven't already selected a Lender, ask Real Estate Broker for list of possible Lenders
    If you haven't already selected a Lender (which in most cases you will have at this point), then ask your Real Estate Broker to suggest 3 possible Lenders to contact for financing your home purchase based on the types of loans you're considering.

    You're welcome to use whichever Lender you choose (from the Real Estate Broker's recommendations or your own), however... you should realize that making sure your Lender performs if your responsibility.

    In other words, if your Lender does not show up on the day of closing with the money for whatever reason, you are still in default on the "Contract to Buy and Sell Real Estate" (not your Lender) and you are at risk of losing your Earnest Money (and specific performance in the unlikely event that box is checked on the "Contract to Buy and Sell Real Estate"). Another way of saying this is: your Lender is not a party to the "Contract to Buy and Sell Real Estate" and so they have no consequences in the "Contract to Buy and Sell Real Estate" if they don't perform.

    So, consider "testing" a new Lender carefully.

    ASAPContract Deadline: Loan Application DeadlineDream TeamDream Team - Pre-ClosingFinancingUltimate Nomad ChecklistWeek 2

  100. If you have not already done so, interview 3 Lenders
    If you have not already done so, talk to 3 Lenders to determine which one you'd like to use.

    Ask your Real Estate Broker for recommendations.

    You may want to consider at least reading through the Mortgage Broker Interview Questions for some ideas of what you might want to ask:

    https://JamesOrr.com/mortgage-broker-interview-questions/

    Mark complete once you've talked to 3 Lenders of if you've already decided which Lender you plan to use.

    ASAPContract Deadline: Loan Application DeadlineDream TeamDream Team - Pre-ClosingFinancingUltimate Nomad ChecklistWeek 2

  101. If you have not done so already, determine your Lender
    Decide which Lender you will use to finance your purchase.

    You can ask your Real Estate Broker for recommendations.

    Mark this task complete once you've decided on a Lender to use.

    Analyzing DealsASAPContract Deadline: Loan Application DeadlineDream TeamDream Team - Pre-ClosingFinancingUltimate Nomad ChecklistWeek 2

  102. If you have not done so already, apply for loan with Lender
    Make an application to get qualified for a loan with the Lender you've decided you're going to use.

    Some people will opt to get quotes from multiple lenders. If you're going to do this, compare everyone on the same day so the rate is the same.

    Also, have the Lender you think is most likely to be the one you'll go with pull your credit and then tell the other Lenders you're comparing what your credit score is. If you decide to go with them, you'll let them pull your credit then.

    If you need a recommendation for a Lender ask your Real Estate Broker.

    Mark this task complete once you've applied for a loan and been approved with the Lender you plan to use.

    ASAPContract Deadline: Loan Application DeadlineFinancingUltimate Nomad ChecklistWeek 2Week 54

  103. If you haven't done so alreayd, send copy of "Contract to Buy and Sell Real Estate" to your Lender
    As soon as your "Contract to Buy and Sell Real Estate" is accepted, make sure your Lender has a copy so they can complete your application and start working on getting your financing approved and through under-writing.

    ASAPContract Deadline: Loan Application DeadlineFinancingUltimate Nomad ChecklistWeek 2Week 54

  104. REAL ESTATE BROKER: Provide you a list of Home Inspectors
    Your Real Estate Broker should provide you with a list of Home Inspectors. You can use whoever you wish including Home Inspectors not on the recommended list.

    ASAPContract Deadline: Inspection Objection DeadlineDream TeamDream Team - Pre-ClosingInspectionUltimate Nomad ChecklistWeek 61Week 9

  105. Determine your Home Inspector
    Determine who you will use to inspect your new property when you go under contract.

    Ask your Real Estate Broker for a recommendation.

    Mark this task complete when you've decided which Home Inspector you'll use when you go under contract.

    ASAPContract Deadline: Inspection Objection DeadlineDream TeamDream Team - Pre-ClosingInspectionUltimate Nomad ChecklistWeek 61Week 9

  106. Get Interest Rate quote for analysis
    Call your Lender and get an Interest Rate quote estimate to use when analyzing properties using Brian's Deal Analysis Spreadsheet.

    You'll modify this as interest rates change or as your loan program changes for the property you're analyzing.

    Mark this task complete when you have an interest rate estimate to use when analyzing deals using Brian's Spreadsheet.

    Analyzing DealsASAPCash FlowFinancingNet Operating IncomeUltimate Nomad ChecklistWeek 2

  107. Partnership Determine Partnership entity
    Determine the entity that you'll use for Partnership. Often this will be an LLC, but meet with your Entity Attorney to discuss what might be best for your unique situation.

    ASAPAsset ProtectionLLCPartnershipsPartnerships - SetupUltimate Nomad ChecklistWeek 2

  108. Partnership Read Operating Agreement
    Read through your LLC Operating Agreement.

    Highlight sections you have questions about. Write down any questions you have.

    Mark this task complete once you've read your Operating Agreement and marked up any sections you have questions on. You will be meeting with your Entity Attorney to get your questions answered in another task.

    ASAPAsset ProtectionLLCPartnershipsPartnerships - SetupUltimate Nomad ChecklistWeek 2

  109. Partnership Meet with Entity Attorney to review Operating Agreement
    Once you've read through your Operating Agreement and highlighted sections you have questions about, bring your questions to a meeting with your Entity Attorney.

    Mark this task complete once you understand and feel comfortable with your Operating Agreement.

    ASAPAsset ProtectionLLCPartnershipsPartnerships - SetupUltimate Nomad ChecklistWeek 2

  110. Partnership Search LLC names
    Search for available names for your LLC on the Secretary of State website.

    Mark done when you've found a name that you can use for your LLC that is not already being used.

    ASAPAsset ProtectionLLCPartnershipsPartnerships - SetupUltimate Nomad ChecklistWeek 2

  111. Partnership Determine LLC name
    Once you've looked up names on the Secretary of State website, decide what name you'll use for your LLC.

    Mark this task complete once you've decided.

    ASAPAsset ProtectionLLCPartnershipsPartnerships - SetupUltimate Nomad ChecklistWeek 2

  112. Partnership Register LLC with Secretary of State
    Important note: your Entity Attorney may do this on your behalf if you've hired them to create your entity.

    Otherwise, register LLC with the Secretary of State by completing Articles of Organization. Save a copy of your Articles of Organization to your Partnership folder in Dropbox.

    Mark this task complete once you've filed Articles of Organization.

    ASAPAsset ProtectionLLCPartnershipsPartnerships - SetupUltimate Nomad ChecklistWeek 2

  113. Partnership Subscribe your email to LLC record with Secretary of State
    Make sure when you create your LLC that you subscribe the LLC record via email so you can receive email notices when your "Periodic Report" is due, etc.

    ASAPAsset ProtectionLLCPartnershipsPartnerships - SetupUltimate Nomad ChecklistWeek 2

  114. Partnership Open Partnership bank account
    Open bank account for Partnership.

    You will likely need the Operating Agreement and/or meeting minutes to document your authorization to do so.

    ASAPAsset ProtectionPartnershipsPartnerships - SetupUltimate Nomad ChecklistWeek 3

  115. Read "Return On Investment"
  116. Get or create "Lease-Option" documents
    Have your Contract and Paperwork Attorney prepare your "Lease-Option" documents for your Tenant-Buyer or create them with your Attorney's help.

    Mark this task complete once your Contract and Paperwork Attorney has prepared your "Lease-Option" documents.

    ASAPLeaseLease-OptionPaperworkPrepare to be a LandlordTenant-BuyersUltimate Nomad ChecklistWeek 57

  117. Read through "Lease-Option" documents
    Read through your "Lease-Option" paperwork. Highlight any sections you have questions about. Write down your questions.

    Mark this task complete once you've read through your "Lease-Option" paperwork. You'll be scheduling time to meet with your Contract and Paperwork Attorney to have your questions answered in another task.

    ASAPLeaseLease-OptionPaperworkPrepare to be a LandlordTenant-BuyersUltimate Nomad ChecklistWeek 57

  118. Meet with Contract and Paperwork Attorney to review "Lease-Option" documents
    Meet with your Contract and Paperwork Attorney to go over the highlighted sections of your "Lease-Option" documents. Ask your Attorney your questions about the paperwork.

    Mark this task as complete once you understand and feel comfortable with your "Lease-Option" documents.

    ASAPLeaseLease-OptionPaperworkPrepare to be a LandlordUltimate Nomad ChecklistWeek 58

  119. Determine your Tenant-Buyer Evaluation Criteria
    Determine and write out the criteria that you'll use to evaluate a Tenant-Buyer.

    Mark this task as complete when you have written evaluation criteria to be in compliance with Fair Housing Laws.

    ASAPLeaseLease-OptionPaperworkPrepare to be a LandlordTenant ScreeningUltimate Nomad ChecklistWeek 54

  120. Determine your Rent (or Lease-Option Rent)
    Determine what Rent you'll charge for the property or, if you're offering a Lease-Option, what Lease-Option Rent you'll charge for the property.

    This is often done by researching what Fair Market Rent is.

    Some Real Estate Brokers may subscribe to a service that allows them to pull rental comparables to help to determine rent.

    Mark this task complete when you have determined your Rent.

    Analyzing DealsASAPLeaseLease-OptionNet Operating IncomePrepare to be a LandlordRentUltimate Nomad ChecklistWeek 55

  121. Determine your Lease-Option minimum Option Fee
    If you're offering the Tenant-Buyer a Lease-Option, determine what is your minimum acceptable Option Fee.

    Mark this task complete when you have your minimum Option Fee for your Lease-Option or if you're not doing a Lease-Option at all.

    Analyzing DealsASAPLease-OptionPrepare to be a LandlordUltimate Nomad ChecklistWeek 55

  122. Determine your Lease-Option strike prices
    If you're offering the Tenant-Buyer a Lease-Option, determine what price the Tenant-Buyer can purchase the property from you in year 1 and year 2.

    Mark this task complete when you have prices for year 1 and year 2 for your Lease-Option or if you're not doing a Lease-Option at all.

    Analyzing DealsASAPLease-OptionPrepare to be a LandlordUltimate Nomad ChecklistWeek 55

  123. Read "Nomad with Lease Option Exit Book" for your city
  124. Class Watch "Nomad with Lease Option Exit Overview" Recording of Live Class
    Watch the recording of the live presentation of "Nomad with Lease Option Exit Overview" available on:

    https://RealEstateFinancialPlanner.com/nomad-with-lease-option-exit-overview/

    ASAPClassesLease-OptionTenant-BuyersUltimate Nomad ChecklistWeek 17

  125. Class Watch "Analyzing Deals 201: Selling with Lease Option" Recording of Live Class
  126. Read "Save For College Nomad Overview"
  127. Class Watch "College Nomad Overview" Recording of Live Class
    Watch the recording of the live presentation of "College Nomad Overview" available on:

    https://RealEstateFinancialPlanner.com/college-nomad-overview/

    ASAPClassesCollege NomadUltimate Nomad ChecklistWeek 29

  128. Class Watch "Northern Colorado Real Estate Market Stats" Recording of Live Class
    Watch the recording of the live presentation of "Northern Colorado Real Estate Markets Stats" available on:

    https://RealEstateFinancialPlanner.com/northern-colorado-real-estate-markets-stats/

    ASAPClassesMarket StatsUltimate Nomad ChecklistWeek 30

  129. 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

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