FAQ List

Bankruptcy FAQs

Can I do Nomad with a bankruptcy? Often times, the reason why someone may find themselves in the Catch Up Nomad position is because of some financial setback that happened in the past. Many times this results in a Catch Up Nomad in having a past bankruptcy. So, the next logical question is: can someone do the Nomad model if they’ve had a past bankruptcy? The answer is: yes, you can do the Nomad model if you’ve previously had a bankruptcy. Loan programs vary over time such that loan programs that are available today might not be available tomorrow and … Read more

Buying FAQs

Do I need to buy houses at a discount with Nomad? No, you do not need to buy houses at a discount to make the Nomad model work… but it can help in some situations. First, I should remind you that one of the reasons we really started to investigate the Nomad model was because our local real estate market was incredibly hot that properties were receiving multiple offers and selling for above asking price. So, Nomad was first modeled for extremely strong real estate markets and you do NOT need to buy homes at a discount to make the … Read more

Cash Flow FAQs

How much cash flow does Nomad generate? The amount of cash flow that Nomad generates depends on a number of factors. Here is a partial list of some of the factors. Your real estate market Price of homes you’re buying Rent for homes you’re buying Interest Rate Down payment (and whether you have private mortgage insurance) Expenses like property taxes, insurance, HOA, maintenance, capital expenses Property management (whether you do it yourself or hire it out) Whether you’re renting or offering lease options Type of loan you’re getting Will I have positive cash flow in the first year with Nomad? … Read more

Cash On Cash FAQs

What is Cash on Cash Return on Investment? Cash on Cash Return on Investment, often abbreviated CoC or Cash on Cash or Cash on Cash Return or Cash on Cash ROI is the percentage return you get on the cash you have invested in the deal. For example, if you invested $10,000 to purchase a property and you’re getting $1,000 per year in net cash flow after all your expenses, then you’re seeing a 10% cash on cash return. It gives you an idea of how well your property is cash flowing and what return you’re getting for the amount … Read more

Conventional Financing FAQs

Can I do Nomad with a bankruptcy? Often times, the reason why someone may find themselves in the Catch Up Nomad position is because of some financial setback that happened in the past. Many times this results in a Catch Up Nomad in having a past bankruptcy. So, the next logical question is: can someone do the Nomad model if they’ve had a past bankruptcy? The answer is: yes, you can do the Nomad model if you’ve previously had a bankruptcy. Loan programs vary over time such that loan programs that are available today might not be available tomorrow and … Read more

Creative Financing FAQs

Can I do Nomad with a bankruptcy? Often times, the reason why someone may find themselves in the Catch Up Nomad position is because of some financial setback that happened in the past. Many times this results in a Catch Up Nomad in having a past bankruptcy. So, the next logical question is: can someone do the Nomad model if they’ve had a past bankruptcy? The answer is: yes, you can do the Nomad model if you’ve previously had a bankruptcy. Loan programs vary over time such that loan programs that are available today might not be available tomorrow and … Read more

Down Payment FAQs

How much down payment will I need to buy my first Nomad property? The amount of money that you will need to be able to purchase your first Nomad property depends on several factors. Here are some of them: First… the purchase price of the property you plan to buy. If you’re considering buying a $100,000 property you’ll generally need less than if you’re buying a $400,000 property. Second… the down payment of the loan program you plan to use. If you’re using the recommended 5% down payment on a $100,000 property, you’ll need about $5,000 down (plus any closing … Read more

FHA FAQs

Can I do Nomad with a bankruptcy? Often times, the reason why someone may find themselves in the Catch Up Nomad position is because of some financial setback that happened in the past. Many times this results in a Catch Up Nomad in having a past bankruptcy. So, the next logical question is: can someone do the Nomad model if they’ve had a past bankruptcy? The answer is: yes, you can do the Nomad model if you’ve previously had a bankruptcy. Loan programs vary over time such that loan programs that are available today might not be available tomorrow and … Read more

Financing Nomad FAQs

Can I do Nomad with a bankruptcy? Often times, the reason why someone may find themselves in the Catch Up Nomad position is because of some financial setback that happened in the past. Many times this results in a Catch Up Nomad in having a past bankruptcy. So, the next logical question is: can someone do the Nomad model if they’ve had a past bankruptcy? The answer is: yes, you can do the Nomad model if you’ve previously had a bankruptcy. Loan programs vary over time such that loan programs that are available today might not be available tomorrow and … Read more

Finding Properties FAQs

What factors do you consider when searching for Nomad properties I recommend Nomads consider a number of factors when searching for a Nomad home. Here is a brief list of the some of the factors I recommend. Attached/Detached # Units Age Beds Baths Square footage Style of home Lot size Location Price HOA Rent Metrics Financing School district Realize, that these factors are not weighted equally… for example… location may be much more important to me than age. School district may be less important to me than cash flow (financial metrics). Do you consider cash on cash return when looking … Read more