Receive Property Lists

Before: Buying Process Overview: First Meeting: Receive Property Lists

Receive Property Lists is all about how you'll get the properties that are for sale and that come up for sale from your real estate agent. It is the fifth step in the First Meeting with your real estate agent process.

Typically, we recommend that you ask your real estate agent to set up automatic property search emails at the first meeting. You'd provide your real estate agent information about the properties you need and they'd set it up so you receive property notifications as those properties come up for sale in the MLS. This is typically done in Week 1 or Week 2 of the Ultimate Nomad Checklist™.

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The Receive Property Lists process is shown below.

Class Watch "Finding Properties for Nomads" Recording of Live Class

Watch the recording of the live presentation of "Finding Properties for Nomads" available on:

https://RealEstateFinancialPlanner.com/finding-properties-for-nomads/

ASAPClassesFirst Meeting: Receive Property ListsGet Your First Deal DoneOptionalProperty SearchUltimate Nomad ChecklistWeek 1

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

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

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

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

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

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

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

Once you've figured out which properties and how you'll receive them from your real estate agent, you can move on to discussing Analyzing Deals with your real estate agent.

Improvements

The following are improvements I plan to make to this page based on some of my Standard Process Improvement Questions.

  • Add resources about what goes into picking which properties should be included in the property search.

  1. Sponsor Read "Facebook Ads for Real Estate Agent and Lender Sponsors"
  2. Sponsor Read "100 Ways to Get a Nomad Client in the Next 12 Months"
  3. Sponsor Read "Prepare for Investor Meeting Checklist"
  4. Sponsor Read "At Investor Meeting Checklist"
  5. Sponsor Read "Before for Real Estate Agents"
  6. Sponsor Read "During for Real Estate Agents"
  7. Sponsor Read "After for Real Estate Agents"
  8. Sponsor Read "Lease Option Ad for Property Listed in MLS for Clients"
  9. Sponsor Read "Standard Process Improvement Questions"

IMPORTANT NOTE: This checklist is based on what I personally use with clients in Northern Colorado. Please rely on your local real estate agent for how it works in your local real estate market. This process will definitely vary in different States.

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