After

The After checklist are the things that Nomad should do after you’ve purchase one or more Nomad properties. It consists of tasks for managing and keeping up with the Nomad properties you own.

It is part of the three major checklists that we have:

We have a similar set of Before, During and After checklists for the things that real estate agents working with Nomads should use.

After

The following are my recommendations for tasks that Nomad should completed after you’ve purchased one or more Nomad properties.

Warning! Logging and tracking tasks is for Premium Nomads only.

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Complete the "After" checklists:

https://learntoberich.com/after/

Mark this task complete when done.

After ChecklistsBuying Process OverviewUltimate Nomad ChecklistWeek 13

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Read the "After for Real Estate Agents" blog post on

https://learntoberich.com/after-agent/

Mark this task as complete when you're done.

After ChecklistsFor Real Estate AgentsSponsors

Buying Process Overview:
Post Closing

buying-process-overview-post-closing

First 30 Days After Closing

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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).

Mark this task as complete when done.

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

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Once you've closed on your property, you can safely turn off property search emails until you're ready to buy another property.

Ask your Real Estate Agent to pause the automatic property search emails for you until you're ready to start buying again.

Mark this task as complete when you've asked your Real Estate Agent to pause your property search emails.

Post ClosingProperty SearchUltimate Nomad ChecklistWeek 14

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Read the "Catch Up For Retirement Nomad Overview" blog post on

https://learntoberich.com/catch-up-for-retirement-nomad-overview/

Mark this task as complete when you're done.

Catch Up NomadNomad BasicsUltimate Nomad ChecklistWeek 14

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Watch the recording of the live presentation of "Catch Up Nomad Overview" available on:

https://learntoberich.com/catch-up-nomad-overview/

Mark this task as complete once you've watched it.

Catch Up NomadClassesUltimate Nomad ChecklistWeek 14

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Watch the recording of the live presentation of "Capital Expenses: The Silent Killer" available on:

https://learntoberich.com/cap-ex/

Mark this task as complete once you've watched it.

Analyzing DealsCapital ExpensesClassesUltimate Nomad ChecklistWeek 16

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Read the "Nomad with Lease Option Exit Book" for your city:

https://LearnToBeRich.com/book/

Mark this task complete when done.

ASAPLease OptionNomad BasicsTenant BuyersUltimate Nomad ChecklistWeek 17

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Watch the recording of the live presentation of "Nomad with Lease Option Exit Overview" available on:

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

Mark this task as complete once you've watched it.

ASAPClassesLease OptionTenant BuyersUltimate Nomad ChecklistWeek 17

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Watch the recording of the live presentation of "How to Acquire a Multi-Million Dollar Real Estate Portfolio with just $3,000" available on:

https://learntoberich.com/nomad-just-3000/

Mark this task as complete once you've watched it.

ClassesGet Your First Deal DoneLease OptionNomad BasicsTenant BuyersUltimate Nomad ChecklistWeek 15

Month 2 After Closing

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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).

Mark this task as complete when done.

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

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Watch the recording of the live presentation of "Analyzing Deals 101: an Intro to Cash on Cash Return on Investment" available on:

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

Mark this task as complete once you've watched it.

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

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Decide which Plumber you will use to do a should you have plumbing issues with your property.

You can ask your Real Estate Broker for recommendations.

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

Dream TeamDream Team - Post-ClosingUltimate Nomad ChecklistWeek 19

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Decide which Flooring Company you will use to do carpet or other flooring on the property.

You can ask your Real Estate Broker for recommendations.

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

Dream TeamDream Team - Post-ClosingUltimate Nomad ChecklistWeek 21

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Decide which Handyman you will use to do a should you have general maintenance issues with your property.

You can ask your Real Estate Broker for recommendations.

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

Dream TeamDream Team - Post-ClosingUltimate Nomad ChecklistWeek 18

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Decide which Electrician you will use to do electrical work on the property.

You can ask your Real Estate Broker for recommendations.

Mark this task complete once you've decided on an Electrician to use.

Dream TeamDream Team - Post-ClosingDream Team - Pre-ClosingUltimate Nomad ChecklistWeek 20

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If you've decided to download and use Brian's Bookkeeping and Accounting Spreadsheet to keep track of your income and expenses on your rental and Nomad properties, you can download a copy of it here:

https://learntoberich.com/bookkeeping-spreadsheet/

If you're not going to use Brian's accounting spreadsheet, you can skip this step and mark it as complete.

Mark this task as complete when done.

AccountingBookkeepingBookkeeping and Accounting for NomadsPost-Closing Bookkeeping and AccountingUltimate Nomad ChecklistWeek 18

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You should setup your bookkeeping system for your rental property. There are several options to choose from including just hiring a bookkeeper/accountant to do it for you to using the tools we provide.

Of course, you could keep track of your income and expenses in software like QuickBooks and have your accountant prepare taxes at the end of the year. There are also property management software packages that allow you to do bookkeeping and accounting as well.

If you don't have a strong preference, we recommend you setup either Brian's bookkeeping and accounting spreadsheet or use web-based version on LearnToBeRich.com to start tracking income and expenses for property.

Mark complete once you've set up bookkeeping and accounting for this property.

AccountingBookkeepingBookkeeping and Accounting for NomadsPost-Closing Bookkeeping and AccountingUltimate Nomad ChecklistWeek 18

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Each month enter the income and expenses for the property and your LLCs.

The longer you delay doing this the more painful it becomes especially as you forget what expenses were for and why.

It is much easier to do it either: as you receive them or, at least, once a month.

Mark this task complete when done.

AccountingBookkeepingBookkeeping and Accounting for NomadsPost-Closing Bookkeeping and AccountingUltimate Nomad ChecklistWeek 18

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Each time you receive income, log it in your accounting system.

Mark this task complete when done.

AccountingBookkeepingBookkeeping and Accounting for NomadsPost-Closing Bookkeeping and AccountingUltimate Nomad ChecklistWeek 18

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Each time you spend money or have an expense, log it in your accounting system.

Mark this task complete when done.

AccountingBookkeepingBookkeeping and Accounting for NomadsPost-Closing Bookkeeping and AccountingUltimate Nomad ChecklistWeek 18

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Watch the recording of the live presentation of "Warning: The Dangers and Risks of Real Estate" available on:

https://learntoberich.com/warning-the-dangers-and-risks-of-real-estate/

Mark this task as complete once you've watched it.

ClassesEmergency PlanUltimate Nomad ChecklistWeek 21

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Watch the recording of the live presentation of "Analyzing Deals 201: Selling with Lease Option" available on:

https://learntoberich.com/how-to-analyze-a-lease-option-deal-with-brians-spreadsheet/

Mark this task as complete once you've watched it.

Analyzing DealsASAPCash FlowClassesLease OptionNet Operating IncomeReturn On InvestmentTenant BuyersUltimate Nomad ChecklistWeek 19

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Watch the recording of the live presentation of "Analyzing Deals 301: Multi-Family for Nomads" available on:

https://learntoberich.com/analyzing-deals-301-multi-family-for-nomads/

Mark this task as complete once you've watched it.

Analyzing DealsClassesMulti-FamilyNet Operating IncomeUltimate Nomad ChecklistWeek 20

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Watch the recording of the live presentation of "Interest Rate Scenarios for Nomads" available on:

https://learntoberich.com/interest-rate-scenarios/

Mark this task as complete once you've watched it.

ClassesFinancingInterest RateUltimate Nomad ChecklistWeek 18

Month 3 After Closing

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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).

Mark this task as complete when done.

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

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Decide which Painter you will use to do painting on the property.

You can ask your Real Estate Broker for recommendations.

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

Dream TeamDream Team - Post-ClosingUltimate Nomad ChecklistWeek 22

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Decide which Roofing Company you will use to do roof related work on the property.

You can ask your Real Estate Broker for recommendations.

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

Dream TeamDream Team - Post-ClosingUltimate Nomad ChecklistWeek 23

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Decide which HVAC Company you will use to do a heating and air conditioning work on the property.

You can ask your Real Estate Broker for recommendations.

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

Dream TeamDream Team - Post-ClosingUltimate Nomad ChecklistWeek 24

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Watch the recording of the live presentation of "Buy at a Discount to Refi and Hold" available on:

https://learntoberich.com/buying-at-a-discount-to-refi-and-hold/

Mark this task as complete once you've watched it.

BRRRRClassesFixer Upper NomadUltimate Nomad ChecklistWeek 25

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Read the "Legacy Nomad Overview" blog post on

https://learntoberich.com/legacy-nomad-overview-2/

Mark this task as complete when you're done.

Legacy NomadNomad BasicsUltimate Nomad ChecklistWeek 24

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Watch the recording of the live presentation of "Legacy Nomad Overview" available on:

https://learntoberich.com/legacy-nomad-overview/

Mark this task as complete once you've watched it.

ClassesLegacy NomadUltimate Nomad ChecklistWeek 24

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Watch the recording of the live presentation of "Asset Protection 101: Overview for Nomads" available on:

https://learntoberich.com/asset-protection-101/

Mark this task as complete once you've watched it.

Asset ProtectionClassesUltimate Nomad ChecklistWeek 22

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Watch the recording of the live presentation of "Asset Protection 102: Document Examples" available on:

https://learntoberich.com/asset-protection-102/

Mark this task as complete once you've watched it.

Asset ProtectionClassesPaperworkUltimate Nomad ChecklistWeek 23

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Read the "Young Nomad Overview" blog post on

https://learntoberich.com/nomad-overview-for-young-professionals/

Mark this task as complete when you're done.

Nomad BasicsUltimate Nomad ChecklistWeek 24Young Nomad

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Watch the recording of the live presentation of "Young Professional Nomad Overview" available on:

http://learntoberich.com/young-professional-nomad-overview/

Mark this task as complete once you've watched it.

ClassesUltimate Nomad ChecklistWeek 24Young Nomad

Month 4 After Closing

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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).

Mark this task as complete when done.

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

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If you're planning to buy new construction for your next purchase, research the build time from the builder you're considering. Some can take 6 months or more.

So, it might be better to research this and maybe even go under contract very early to make sure you hit your ideal timeline for your next purchase.

Mark this task as complete when done.

New ConstructionNext PropertyUltimate Nomad ChecklistWeek 26

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Watch the recording of the live presentation of "Fixer Upper Nomad Overview" available on:

https://learntoberich.com/fixer-upper-nomad-overview/

Mark this task as complete once you've watched it.

ClassesFixer Upper NomadUltimate Nomad ChecklistWeek 26

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Watch the recording of the live presentation of "Little Down Nomad Overview" available on:

https://learntoberich.com/little-down-nomad-overview/

Mark this task as complete once you've watched it.

ClassesLittle Down NomadNomad BasicsUltimate Nomad ChecklistWeek 27

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Watch the recording of the live presentation of "Understanding Appreciation – A Guide to Becoming Wealthy with Real Estate for Nomads" available on:

https://learntoberich.com/understanding-appreciation-a-guide-to-becoming-wealthy-with-real-estate-for-nomads/

Mark this task as complete once you've watched it.

AppreciationClassesUltimate Nomad ChecklistUnderstanding AppreciationWeek 28

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Read the "Save For College Nomad Overview" blog post on

https://learntoberich.com/save-for-college-nomad/

Mark this task as complete when you're done.

ASAPCollege NomadNomad BasicsUltimate Nomad ChecklistWeek 29

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Watch the recording of the live presentation of "College Nomad Overview" available on:

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

Mark this task as complete once you've watched it.

ASAPClassesCollege NomadUltimate Nomad ChecklistWeek 29

Month 5 After Closing

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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).

Mark this task as complete when done.

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

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Watch the recording of the live presentation of "Northern Colorado Real Estate Markets Stats" available on:

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

Mark this task as complete once you've watched it.

ASAPClassesMarket StatsUltimate Nomad ChecklistWeek 30

Month 6 After Closing

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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).

Mark this task as complete when done.

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

Month 7 After Closing

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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).

Mark this task as complete when done.

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

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Watch the recording of the live presentation of "Tenant Screening" available on:

https://learntoberich.com/tenant-screening/

Mark this task as complete once you've watched it.

ClassesPrepare to be a LandlordTenant BuyersTenant ScreeningTenantsUltimate Nomad ChecklistWeek 41

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Watch the recording of the live presentation of "Marketing for Tenants" available on:

https://learntoberich.com/marketing-for-tenants/

Mark this task as complete once you've watched it.

ClassesLeaseLease OptionPrepare to be a LandlordProperty ManagementTenant BuyersTenant ScreeningTenantsUltimate Nomad ChecklistWeek 40Week 55

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If you haven't recently watched the live presentation of "Marketing for Tenants", you should review it again now:

https://learntoberich.com/marketing-for-tenants/

Mark this task as complete once you've watched it.

Advertise Property for RentLeaseLease OptionProperty ManagementTenant BuyersTenant ScreeningTenantsUltimate Nomad ChecklistWeek 40Week 55

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If you haven't recently watched the live presentation of "Marketing for Tenants", you should review it again now:

https://learntoberich.com/marketing-for-tenants/

Mark this task as complete once you've watched it.

LeaseLease OptionProperty ManagementTake Calls from TenantsTenant BuyersTenant ScreeningTenantsUltimate Nomad ChecklistWeek 40Week 55

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If you have not done so recently, review the recording of the live presentation of "Tenant Screening" available on:

https://learntoberich.com/tenant-screening/

Mark this task as complete once you've watched it.

Process ApplicationTenant BuyersTenant ScreeningTenantsUltimate Nomad ChecklistWeek 41

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If you have not done so recently, review the recording of the live presentation of "Tenant Screening" available on:

https://learntoberich.com/tenant-screening/

Mark this task as complete once you've watched it.

Approve ApplicantUltimate Nomad ChecklistWeek 41

Month 8 After Closing

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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).

Mark this task as complete when done.

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

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Once you've read through the Lease 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 Lease.

Mark this task as complete once you feel comfortable with the Lease.

Dream TeamDream Team - Post-ClosingLeasePaperworkUltimate Nomad ChecklistWeek 44

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Determine who you will use to run credit and background checks on your tenants and tenant-buyers.

Mark this task as done when you determine who you'll use.

Dream TeamDream Team - Post-ClosingTenant ScreeningUltimate Nomad ChecklistWeek 43

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Complete the "Property Maintenance" checklists:

https://learntoberich.com/property-maintenance/

Mark this task complete when done.

Post-ClosingProperty MaintenanceUltimate Nomad ChecklistWeek 44

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If you have not already done so, determine who you will use to run credit and background checks on your Tenants and Tenant-Buyers.

Mark this task as done when you determine who you'll use.

Dream TeamDream Team - Post-ClosingPrepare to be a LandlordTenant ScreeningUltimate Nomad ChecklistWeek 43

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Take some time to research the landlord-tenant laws for your city, county, and your state.

Mark this task as done when complete.

Dream TeamDream Team - Post-ClosingPrepare to be a LandlordTenant ScreeningUltimate Nomad ChecklistWeek 43

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Make sure you feel comfortable with the cash reserves you have for your rental property.

Most CPAs will recommend you have between 6 months and 12 months of your mortgage payment, taxes, insurance and maintenance reserves for your property.

If you do not have this amount saved for your property, make it a goal to work on building up your account to have that for each rental property you have.

Mark this task as done when complete.

Dream TeamDream Team - Post-ClosingPrepare to be a LandlordTenant ScreeningUltimate Nomad ChecklistWeek 43

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Find your local landlord group and attend meetings to stay abreast of the rental market and network with other landlords.

Mark this task as done when complete.

Dream TeamDream Team - Post-ClosingPrepare to be a LandlordTenant ScreeningUltimate Nomad ChecklistWeek 43

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Write out your own process for screening and approving tenants.

Plan ahead by considering all possible what-if scenarios you can think of and what you'd do in each situation before it happens. Write this out.

Mark this task complete when you have your process written out.

Prepare to be a LandlordTenant ScreeningTenantsUltimate Nomad ChecklistWeek 43

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If you're offering the property to a Tenant-Buyer on a Lease Option, write out your own process for screening and approving Tenant-Buyers.

Plan ahead by considering all possible what-if scenarios you can think of and what you'd do in each situation before it happens. Write this out.

Mark this task complete when you have your process written out.

Prepare to be a LandlordTenant BuyersTenant ScreeningUltimate Nomad ChecklistWeek 43

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Watch the recording of the live presentation of "Mock Tenant Screening" available on:

https://learntoberich.com/mock-tenant-screening/

Mark this task as complete once you've watched it.

ClassesLeaseLease OptionPrepare to be a LandlordProperty ManagementSolving Tenant ChallengesTenant BuyersTenant ScreeningTenantsUltimate Nomad ChecklistWeek 42

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Get or create your own "Move-In Inspection Report" and "Move-Out Inspection Report" that you can use with your Tenant or Tenant-Buyer.

You can usually get this either from your Real Estate Broker or your Contract and Paperwork Attorney.

Mark this task complete when you have a "Move-In Inspection Report" and "Move-Out Inspection Report".

PaperworkPrepare to be a LandlordUltimate Nomad ChecklistWeek 45

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Watch the recording of the live presentation of "The $5,000 Lease Demystified" available on:

https://learntoberich.com/5k-lease-demystified/

Mark this task as complete once you've watched it.

ClassesLeaseLease OptionPrepare to be a LandlordProperty ManagementSolving Tenant ChallengesTenantsUltimate Nomad ChecklistWeek 44

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Download a copy of the "Lease" you intend to use (either from your Attorney or from your Real Estate Broker) or create your own with the help of your Attorney.

Mark this task complete once you have a copy of the "Lease".

LeasePaperworkPrepare to be a LandlordUltimate Nomad ChecklistWeek 44

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If you're using my "Lease", read the "Annotated Lease" to see examples of the "Lease" filled in and see how we explain it to Tenants and Tenant-Buyers.

https://LearnToBeRich.com/lease/

Mark this complete once you've read through the "Annotated Lease".

LeasePaperworkPrepare to be a LandlordUltimate Nomad ChecklistWeek 44

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Read through your "Lease" and highlight any sections you have questions about. Write down the questions you have.

Mark this task complete once you've read through the "Lease".

LeasePaperworkPrepare to be a LandlordUltimate Nomad ChecklistWeek 44

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Watch the recording of the live presentation of "Property Management Mastery" available on:

https://learntoberich.com/property-management-mastery/

Mark this task as complete once you've watched it.

ClassesPrepare to be a LandlordProperty ManagementSolving Tenant ChallengesTenantsUltimate Nomad ChecklistWeek 45

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If you have not recently watched the recording of the live presentation of "Tenant Buyer Sales and Marketing" you should review it:

https://learntoberich.com/tenant-buyer-sales-and-marketing/

Mark this task as complete once you've watched it.

Advertise Property for RentLease OptionMarketingTenant BuyersUltimate Nomad ChecklistWeek 43

More info about this task...
If you have not recently watched the recording of the live presentation of "Tenant Buyer Sales and Marketing" you should review it:

https://learntoberich.com/tenant-buyer-sales-and-marketing/

Mark this task as complete once you've watched it.

Lease OptionMarketingTake Calls from TenantsTenant BuyersUltimate Nomad ChecklistWeek 43

More info about this task...
Watch the recording of the live presentation of "Tenant Buyer Sales and Marketing" available on:

https://learntoberich.com/tenant-buyer-sales-and-marketing/

Mark this task as complete once you've watched it.

ClassesLease OptionMarketingTenant BuyersUltimate Nomad ChecklistWeek 43

More info about this task...
If you have not done so recently, review the recording of the live presentation of "Mock Tenant Screening" available on:

https://learntoberich.com/mock-tenant-screening/

Mark this task as complete once you've watched it.

LeaseLease OptionProcess ApplicationProperty ManagementSolving Tenant ChallengesTenant BuyersTenant ScreeningTenantsUltimate Nomad ChecklistWeek 42

More info about this task...
If you have not recently watched the recording of the live presentation of "Tenant Buyer Sales and Marketing" you should review it:

https://learntoberich.com/tenant-buyer-sales-and-marketing/

Mark this task as complete once you've watched it.

Approve ApplicantUltimate Nomad ChecklistWeek 43

More info about this task...
If you have not done so recently, review the recording of the live presentation of "Mock Tenant Screening" available on:

https://learntoberich.com/mock-tenant-screening/

Mark this task as complete once you've watched it.

Approve ApplicantUltimate Nomad ChecklistWeek 42

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Once you've approved them, let Tenant/Tenant-Buyer know they're approved by phone and email.

Coordinate meeting with them to get "Reservation Deposit Agreement" and the Reservation Deposit.

Mark this task as complete when done.

Approve ApplicantUltimate Nomad ChecklistWeek 42

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Send your approved Tenants/Tenant-Buyers a copy of the "Lease" that you're going to ask them to sign.

Mark this task as complete when done.

Approve ApplicantUltimate Nomad ChecklistWeek 42

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Until you have a "Reservation Deposit Agreement" and the reservation deposit in hand, continue to market the property and process applications.

No matter how solid you think your Tenant/Tenant-Buyers are it isn't rented until the paperwork is done.

Mark this task as complete when done.

Approve ApplicantUltimate Nomad ChecklistWeek 42

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If the Tenant/Tenant-Buyers do not meet your criteria then notify them they have not been approved.

If they did not pass because of credit reasons you are required to notify them in writing.

Some landlords will let Tenant/Tenant-Buyers know what they'd need to do to qualify. For example, you might agree to rent to them if they prepare for 6 months of rent or get a co-signer, etc.

Mark this task as complete when done.

Approve ApplicantUltimate Nomad ChecklistWeek 42

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Once you've approved your Tenant/Tenant-Buyer have Tenant/Tenant-Buyer complete the "Reservation Deposit Agreement" and give you a reservation deposit.

Mark this task as complete when done.

Collect Reservation DepositUltimate Nomad ChecklistWeek 42

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Collect reservation deposit from Tenant/Tenant-Buyer.

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Collect Reservation DepositUltimate Nomad ChecklistWeek 42

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Once you have a signed "Reservation Deposit Agreement" and the reservation deposit in certified funds from your Tenant/Tenant-Buyers, you can pause your marketing of the property and stop running additional applications.

Mark this task as complete when done.

Collect Reservation DepositUltimate Nomad ChecklistWeek 42

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If you haven't done so recently, review the recording of the live presentation of "The $5,000 Lease Demystified" available on:

https://learntoberich.com/5k-lease-demystified/

Mark this task as complete once you've watched it.

Lease Signing and Lease ReviewUltimate Nomad ChecklistWeek 44

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If you have not done so recently, review the recording of the live presentation of "Property Management Mastery" available on:

https://learntoberich.com/property-management-mastery/

Mark this task as complete once you've watched it.

Lease Signing and Lease ReviewUltimate Nomad ChecklistWeek 45

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If you have not done so recently, review the recording of the live presentation of "Property Management Mastery" available on:

https://learntoberich.com/property-management-mastery/

Mark this task as complete once you've watched it.

Document Property ConditionUltimate Nomad ChecklistWeek 45

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Record a video of the condition of the property with video just prior to giving possession to your new Tenant/Tenant-Buyer in case there is a dispute later.

Save a copy to your tenant folder in Dropbox.

Mark this task as complete when done.

Document Property ConditionUltimate Nomad ChecklistWeek 45

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Have your Tenant/Tenant-Buyer document the condition of the property at the time of move-in by completing the "Move-In Inspection".

Mark this task as complete when done.

Document Property ConditionUltimate Nomad ChecklistWeek 45

More info about this task...
If you have not done so recently, review the recording of the live presentation of "Property Management Mastery" available on:

https://learntoberich.com/property-management-mastery/

Mark this task as complete once you've watched it.

Pre-Occupancy Reminders to TenantUltimate Nomad ChecklistWeek 45

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Remind your Tenant/Tenant-Buyer of the following:

  • When their move-in date and time is and what happens if the current occupant is not out in time
  • When their rent is due and how much is due (especially true if they are moving in mid-month)
  • Expected maintenance schedule for the Tenant/Tenant-Buyer

Mark this task as complete when done.

Pre-Occupancy Reminders to TenantUltimate Nomad ChecklistWeek 45

More info about this task...
If you have not done so recently, review the recording of the live presentation of "Property Management Mastery" available on:

https://learntoberich.com/property-management-mastery/

Mark this task as complete once you've watched it.

Prepare to be a LandlordProperty ManagementSolving Tenant ChallengesTenant Move-InTenantsUltimate Nomad ChecklistWeek 45

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Remind your Tenant/Tenant-Buyer of the following when they move in:

  • When their move-in date and time is and what happens if the current occupant is not out in time
  • When their rent is due and how much is due (especially true if they are moving in mid-month)
  • Expected maintenance schedule for the Tenant/Tenant-Buyer

Mark this task as complete when done.

Tenant Move-InUltimate Nomad ChecklistWeek 45

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If you have not done it recently, review the recording of the live presentation of "Property Management Mastery" available on:

https://learntoberich.com/property-management-mastery/

Mark this task as complete once you've watched it.

Tenant Week 1Ultimate Nomad ChecklistWeek 45

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Collect the filled out "Move-In Inspection" from Tenant/Tenant-Buyer and save a copy to the tenant's folder in Dropbox.

Mark this task as complete when done.

Tenant Week 1Ultimate Nomad ChecklistWeek 45

More info about this task...
If you have not done so recently, review the recording of the live presentation of "Property Management Mastery" available on:

https://learntoberich.com/property-management-mastery/

Mark this task as complete once you've watched it.

Tenant Month 1Ultimate Nomad ChecklistWeek 45

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Email or text Tenant/Tenant-Buyer and ask if they had any problems changing the furnace filter in the first month as a gentle way of reminding them they need to do it and verifying it was done.

Mark this task as complete once you've watched it.

Tenant Month 1Ultimate Nomad ChecklistWeek 45

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Email and/or text your Tenant/Tenant-Buyer to remind them when rent is due and the amount that is due (especially if they moved in mid-month).

Mark this task as complete when done.

Tenant Month 1Ultimate Nomad ChecklistWeek 45

More info about this task...
If you have not done so recently, review the recording of the live presentation of "Property Management Mastery" available on:

https://learntoberich.com/property-management-mastery/

Mark this task as complete once you've watched it.

Tenant Periodic InspectionsUltimate Nomad ChecklistWeek 45

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Replace fire extinguishers to prepare for the next Tenant/Tenant-Buyer.

They have limited lifespans and it is probably cheaper to just buy new ones than to have them serviced.

Mark this task as complete when done.

Prepare to be a LandlordProperty ManagementSolving Tenant ChallengesTenant Move-InTenant Turn-over PreparationTenantsUltimate Nomad ChecklistWeek 45

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Have AC and furnace serviced preparing for next Tenant/Tenant-Buyer.

Mark this task as complete when done.

Tenant Turn-over PreparationUltimate Nomad ChecklistWeek 45

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Your HVAC person may replace the furnace filter for you, but they may not. So, make sure you have a new furnace filter installed.

Mark this task as complete when done.

Tenant Turn-over PreparationUltimate Nomad ChecklistWeek 45

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Check for leaks under all sinks and near all water sources. Fix them as required.

Mark this task as complete when done.

Tenant Turn-over PreparationUltimate Nomad ChecklistWeek 45

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Call your carpet cleaner and schedule a time for them to clean the carpets right after the current tenant vacates the property.

Mark this task as complete when done.

Tenant Turn-over PreparationUltimate Nomad ChecklistWeek 45

More info about this task...
If you have not done so recently, review the recording of the live presentation of "Property Management Mastery" available on:

https://learntoberich.com/property-management-mastery/

Mark this task as complete once you've watched it.

Tenant Turn-overUltimate Nomad ChecklistWeek 45

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If you have not done so recently, review the recording of the live presentation of "Property Management Mastery" available on:

https://learntoberich.com/property-management-mastery/

Mark this task as complete once you've watched it.

Post-Move-OutUltimate Nomad ChecklistWeek 45

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Complete your final accounting and return the remaining security deposit to your previous Tenant/Tenant-Buyer.

Mark this task as complete when done.

Post-Move-OutUltimate Nomad ChecklistWeek 45

Month 9 After Closing

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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).

Mark this task as complete when done.

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

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Get or create your own "Rental Application" to be used when tenants and/or tenant-buyers apply to rent your properties.

Use the Nomad "Rental Application" as a starting point:

https://LearnToBeRich.com/rental-application/

Mark this task complete when you have your own "Rental Application".

PaperworkPrepare to be a LandlordTenant ScreeningUltimate Nomad ChecklistWeek 48

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Get or create a "Reservation Deposit Agreement" form that you'll use with your Tenant or Tenant-Buyers when they reserve your rental property.

Ask your Contract and Paperwork Attorney or your Real Estate Broker.

Mark this task complete once you have a "Reservation Deposit Agreement" form.

PaperworkPrepare to be a LandlordUltimate Nomad ChecklistWeek 47

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Get or create your own written "Tenant Evaluation Criteria" to be in compliance with Fair Housing Laws.

This is the written standards and approval process for whether a Tenant or Tenant-Buyer qualifies to rent your property.

Remember that you are about to loan someone an asset that is probably worth hundreds of thousands of dollars (the value of your property), so you should screen Tenants and Tenant-Buyers thinking that you're loaning them something that is worth hundreds of thousands of dollars to you. Personally, I'd even tell them that to set the right tone.

Mark this task complete when you have written "Tenant Evaluation Criteria".

PaperworkPrepare to be a LandlordTenant BuyersTenant ScreeningTenantsUltimate Nomad ChecklistWeek 46

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Read through your "Tenant Evaluation Criteria" and highlight sections you have questions about. Write down your questions.

Mark this task complete once you've read through the "Tenant Evaluation Criteria" and documented your questions.

PaperworkPrepare to be a LandlordTenant ScreeningTenantsUltimate Nomad ChecklistWeek 46

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Watch the recording of the live presentation of "The Lease Option – The Lease Part II" available on:

https://learntoberich.com/the-lease-option-the-lease-part-ii/

Mark this task as complete once you've watched it.

ClassesLease OptionPrepare to be a LandlordProperty ManagementSolving Tenant ChallengesTenant BuyersTenantsUltimate Nomad ChecklistWeek 46

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Watch the recording of the live presentation of "Solving Tenant Challenges" available on:

https://learntoberich.com/solving-tenant-challenges/

Mark this task as complete once you've watched it.

ClassesPrepare to be a LandlordProperty ManagementSolving Tenant ChallengesTenantsUltimate Nomad ChecklistWeek 47

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Watch the recording of the live presentation of "Cash Flow Explosion" available on:

https://learntoberich.com/how-to-maximize-rental-property-cash-flow/

Mark this task as complete once you've watched it.

Cash FlowClassesLease OptionNet Operating IncomeReturn On InvestmentTenant BuyersUltimate Nomad ChecklistWeek 48

Month 10 After Closing

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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).

Mark this task as complete when done.

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

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Twice a year replace the batteries in your smoke and CO detectors.

Mark this task as complete when done.

Property Maintenance
Ultimate Nomad ChecklistWeek 53

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Watch the recording of the live presentation of "Bookkeeping and Accounting for Nomads" available on:

https://learntoberich.com/bookkeeping-and-accounting-for-nomads/

Mark this task as complete once you've watched it.

AccountingBookkeepingBookkeeping and Accounting for NomadsClassesPost-Closing Bookkeeping and AccountingUltimate Nomad ChecklistWeek 52

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Send your Accountant your income and expenses for the year to prepare your tax returns.

Mark complete once you've sent your Accountant income and expenses from either Brian's Spreadsheet or the web-based version.

AccountingBookkeepingBookkeeping and Accounting for NomadsPost-Closing Bookkeeping and AccountingUltimate Nomad ChecklistWeek 53

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Schedule and give your partners notice you have an upcoming annual partnership meeting.

Mark done once you've given partners notice.

Maintain Your LLCPartnershipsUltimate Nomad ChecklistWeek 52

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Hold your annual meeting for Partners.

Mark complete once you've held your annual meeting for Partners.

Maintain Your LLCPartnershipsUltimate Nomad ChecklistWeek 53

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Review your LLC Operating Agreement to make sure everything is up to date and relevant.

Mark this task complete when done.

Maintain Your LLCPartnershipsUltimate Nomad ChecklistWeek 53

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Watch the recording of the live presentation of "Emergency Plan Workshop" available on:

https://learntoberich.com/emergency-plan-workshop/

Mark this task as complete once you've watched it.

ClassesEmergency PlanUltimate Nomad ChecklistWeek 50

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Create your own "Emergency Plan" assuming you won't be able to talk or tell your Emergency Contacts any more than what you have written down, documented.

Once you've completed your own "Emergency Plan", mark this task as done.

Emergency PlanUltimate Nomad ChecklistWeek 50

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With the help of your Attorney create a Will that will document who is responsible for taking over should you die.

Mark this task as complete when done.

Emergency PlanUltimate Nomad ChecklistWeek 50

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Determine who your Primary Emergency Contact will be.

You'll need their name, address, phone and email.

Mark this task as complete when done.

Emergency PlanUltimate Nomad ChecklistWeek 50

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Email or call your Primary Emergency Contact for your Emergency Plan to tell them where your Emergency Plan is located and how they can access it should something happen to you.

Emergency PlanUltimate Nomad ChecklistWeek 51

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While having your Primary Emergency Contact listed in your business Operating Agreement will give them the ability to step in and manage your business should something happen to you, they may need a Limited Power of Attorney to manage your personal affairs.

With the help of your Attorney give your Primary Emergency Contact a Limited Power of Attorney so they can handle your affairs should you become injured or incapacitated.

Emergency PlanUltimate Nomad ChecklistWeek 51

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With the help of your Attorney, add your primary Emergency Contact to your LLC Operating Agreement as who takes over as manager in case you're injured, incapacitated or die.

Let them know they're to take over as manger if something happens to you.

Mark this task as complete when done.

Emergency PlanLLCUltimate Nomad ChecklistWeek 50

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Make sure your primary, backup and third Emergency Contact all know the others. Send each of them the other's contact info in case there is an emergency for you and they need to contact each other.

Mark this task as complete when done.

Emergency PlanUltimate Nomad ChecklistWeek 50

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Make sure your Primary, Backup and Third Emergency Contact all know your Attorney's contact info.

Mark this task as complete when done.

Emergency PlanUltimate Nomad ChecklistWeek 50

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Create your own "Emergency Plan Summary" sheet and tell your Primary, Backup and Third Emergency Plan contact and your Attorney where it is located. For example, you might have a copy of it in your safe in your home and you have a key to the safe on your primary keychain.

The "Emergency Plan Summary" should list the following information at a minimum:

  • Name, address, phone and email of your Attorneys
  • Name, address, phone and email of your Primary, Backup and Third Emergency Contacts
  • List of all your properties (rentals and owner occupied)
  • List of tenants in each property and where to find their tenant file
  • List of all your bank, savings and investment accounts with account numbers, logins and passwords
  • List of all your LLCs, trusts and other entities, what is in each and who is to run them should something happen
  • List of all your mailboxes and where the key is to each
  • List of all your email accounts and password for accessing each
  • List of all your insurance policies and the Insurance Agent for each
  • List of all your Powers of Attorney, who they're with and where to find each
  • Location of your Will
  • If you've buried or otherwise hidden any treasure, a map or at least clues as to where to find it
  • Your preferred referral list for all your contractors and professional advisers
  • Documentation on your key business processes (how to run your business if you're not there)

Mark this task as complete when done.

Emergency PlanUltimate Nomad ChecklistWeek 50

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Store an off-site backup of your "Emergency Plan Summary" sheet in case of fire, floor or other issue with your primary copy of your "Emergency Plan Summary" sheet.

Example might be you store your primary "Emergency Plan Summary" sheet in your locked safe in your office. You could keep a backup in your safe at home.

Another example might be you store your primary "Emergency Plan Summary" sheet in your locked filing cabinet at home and your Attorney has a second copy in his locked filing cabinet in his office.

IMPORTANT NOTE: My personal Attorney suggested NOT using a safe deposit box as they can be hard for your Emergency Contacts to access should something happen to you.

Mark this task as complete when done.

Emergency PlanUltimate Nomad ChecklistWeek 50

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Sit down and go over your entire Emergency Plan with your Emergency Contacts so they're familiar with it and how it is setup.

Mark this task as complete when done.

Emergency PlanUltimate Nomad ChecklistWeek 50

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Make sure you update your "Emergency Plan Summary" sheet yearly.

Mark this task as complete when done.

Emergency PlanUltimate Nomad ChecklistWeek 50

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We're estimating you have 3 months until your home buying anniversary which means you should start the buying process now to buy your next home if you want to buy it within 3 months.

Mark this task complete once you've started another Ultimate Nomad Checklist™ for your next purchase.

Next PropertyUltimate Nomad ChecklistWeek 52

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Watch the recording of the live presentation of "Return on Investment and Return on Equity" available on:

https://learntoberich.com/return-on-equity-for-nomads/

Mark this task as complete once you've watched it.

AppreciationCash FlowClassesDebt PaydownDepreciationReturn On EquityReturn On InvestmentUltimate Nomad ChecklistWeek 51

Month 11 After Closing

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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).

Mark this task as complete when done.

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

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Watch the recording of the live presentation of "Analyzing a Deal with Brian's Spreadsheet" available on:

https://learntoberich.com/how-to-analyze-a-deal-with-brians-spreadsheet/

Mark this task as complete once you've watched it.

Analyzing DealsASAPCash FlowClassesFirst Meeting: Analyze DealsGet Your First Deal DoneNomad BasicsUltimate Nomad ChecklistWeek 4Week 56

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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

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

Mark this task as complete when done.

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

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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.

Mark this task as complete when done.

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

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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.

Mark this task as complete when done.

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

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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.

Mark this task complete when done.

ASAPFinancingUltimate Nomad ChecklistWeek 2Week 54

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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.

Mark this task complete when done.

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

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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"

Mark this task complete when done.

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

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

Mark this task complete when done.

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

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Determine who you will as your accountant to help you with financial planning and completing your taxes.

Ask your Real Estate Broker for a recommendation.

Mark this task complete once you've determined who you'll use as your Accountant.

AccountingBookkeepingBookkeeping and Accounting for NomadsDream TeamDream Team - Pre-ClosingPre-Showings: Mock ContractUltimate Nomad ChecklistWeek 2Week 54

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Watch the recording of the live presentation of "Nomad 101" available on:

https://learntoberich.com/nomad-101/

Mark this task as complete once you've watched it.

ASAPClassesNomad BasicsOptionalUltimate Nomad ChecklistWeek 5Week 57

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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

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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.

Mark this task complete when done.

ASAPContract Deadline: Loan Application DeadlineFinancingUltimate Nomad ChecklistWeek 2Week 54

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If you're going to have your Lease (or any other paperwork you might sign) reviewed by an Attorney before you use it, you may want to determine who that attorney will be.

This attorney will also probably review your Contract to Buy and Sell Real Estate.

Ask your Real Estate Broker for a recommendation.

Mark this task as complete once you've decided which Contract and Paperwork Attorney you will use to help review your legal documents or if you're qualified to review them yourself.

Asset ProtectionDream TeamDream Team - Post-ClosingLeasePaperworkUltimate Nomad ChecklistWeek 54

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If you have a concrete driveway, it is recommended that you seal concrete driveways every two years.

Mark this task complete when done.

Property Maintenance
Ultimate Nomad ChecklistWeek 56

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If you're operating your partnership as an LLC, create meeting minutes for your annual meeting with your partners.

Mark this task complete when done creating your meeting minutes.

Maintain Your LLCPartnershipsUltimate Nomad ChecklistWeek 54

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Once a year you must complete a "Periodic Report" with the Secretary of State.

If you subscribed your email to the Secretary of State for your LLC's record, you should receive an email notice. Otherwise, you should receive a postcard.

As soon as you receive it, just do it. It takes 2 minutes if you do it right away.

If you delay, not only could you invalidate your asset protection plan, but there are late fees from the Secretary of State.

Mark complete when done.

Maintain Your LLCUltimate Nomad ChecklistWeek 54

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Practice filling in a complete sample "Lease" before meeting with your Tenant or Tenant-Buyer to show a property and complete a "Lease".

Mark this task complete once you've practiced filling in a complete "Lease" and asking your Contract and Paperwork Attorney any questions if they come up while doing it.

LeasePaperworkPrepare to be a LandlordUltimate Nomad ChecklistWeek 55

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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

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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

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Write out what questions you're going to ask when Tenants or Tenant-Buyers are calling in on your marketing.

Mark this task complete when you've got a written script of questions.

Prepare to be a LandlordScriptsTenant BuyersTenant ScreeningTenantsUltimate Nomad ChecklistWeek 54

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Practice your script for incoming calls from Tenants and/or Tenant-Buyers.

"Professionals practice off the field." The time to learn your script is not when you have a fully qualified, Tenant-Buyer with a large down payment on the phone.

Mark this task complete once you've run through your script enough times so that you feel comfortable with it.

Prepare to be a LandlordScriptsTenant BuyersTenant ScreeningTenantsUltimate Nomad ChecklistWeek 55

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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

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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

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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

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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

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Watch the recording of the live presentation of "Marketing for Tenants" available on:

https://learntoberich.com/marketing-for-tenants/

Mark this task as complete once you've watched it.

ClassesLeaseLease OptionPrepare to be a LandlordProperty ManagementTenant BuyersTenant ScreeningTenantsUltimate Nomad ChecklistWeek 40Week 55

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Check to make sure the fire extinguisher under the sink in the kitchen is still functioning.

If it is not functioning or not existent, replace it by purchasing one from your favorite Home Improvement Store.

Mark this task complete when done.

Buy at Home Improvement StorePrepare Property for RentUltimate Nomad ChecklistWeek 56

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Clean the property.

Make sure the property is in great condition; it sets the tone for the condition you want the Tenant or Tenant-Buyer to treat and maintain your property. If you're OK with dirty windows and floors, they won't care about that or other things either.

Things to clean probably include:

  • Kitchen including behind and underneath appliances like the strove and refrigerator
  • Clean inside refrigerator, oven and microwave
  • Bathrooms
  • At a minimum vacuum the carpet (ideally have the carpets cleaned if needed)
  • Sweep and pressure wash the garage and driveway
  • Clean windows inside and outside
  • Mow the lawn, trim shrubs and neaten landscaping
  • Clean out the gutters

Mark this task complete when done.

Buy at Home Improvement StorePrepare Property for RentUltimate Nomad ChecklistWeek 56

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If there were things on your Home Inspection that have not been fixed yet, complete all repairs prior to putting your property up for rent.

Make sure the property is in great condition; it sets the tone for the condition you want the Tenant or Tenant-Buyer to treat and maintain your property. If you're OK with a dripping faucet, they won't care about that or other things either.

Mark this task complete when done.

Buy at Home Improvement StorePrepare Property for RentUltimate Nomad ChecklistWeek 56

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Have the AC and furnace serviced prior to renting your property.

Mark this task complete when done.

Buy at Home Improvement StorePrepare Property for RentUltimate Nomad ChecklistWeek 56

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Make sure you look under all sinks and around all toilets for possible leaks. Fix leaks immediately if they exist.

Mark this task complete when done.

Buy at Home Improvement StorePrepare Property for RentUltimate Nomad ChecklistWeek 56

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If you haven't recently watched the live presentation of "Marketing for Tenants", you should review it again now:

https://learntoberich.com/marketing-for-tenants/

Mark this task as complete once you've watched it.

Advertise Property for RentLeaseLease OptionProperty ManagementTenant BuyersTenant ScreeningTenantsUltimate Nomad ChecklistWeek 40Week 55

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Place up directional signs to direct people toward the property you have for rent or on a rent to own.

Mark this task complete when done.

Advertise Property for RentMarketingUltimate Nomad ChecklistWeek 56

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Place your "For Rent" (or "Rent To Own") sign in the yard.

Mark this task complete when done.

Advertise Property for RentMarketingUltimate Nomad ChecklistWeek 56

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Write ad for Tenant and/or Tenant-Buyer using photos you took from when it was vacant.

Mark this task complete when done.

Advertise Property for RentMarketingUltimate Nomad ChecklistWeek 55

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Once you start marketing, be prepared to answer your phone.

As you market, prospective Tenants and Tenant-Buyers will expect to be able to reach you.

If they can't reach you that sets the wrong tone for the start of the relationship. You come across as an unresponsive landlord.

If you do miss a call, call them back as soon as possible. If prospective Tenants and Tenant-Buyers email or text you, reply quickly.

Answer prospective Tenants and Tenant-Buyers questions. It is normal for them to ask questions that are already addressed in the ad. I believe most people don't actually read stuff (including your ad) and they're looking at a number of different properties.

Mark this task complete when done.

Advertise Property for RentMarketingUltimate Nomad ChecklistWeek 55

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Post your "For Rent" or (or "Rent To Own") ad on Zillow.

Mark this task complete when you've posted the ad.

Advertise Property for RentMarketingUltimate Nomad ChecklistWeek 56Week 57Week 58Week 59Week 60

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Post your "For Rent" (or "Rent To Own") ads for the property on CraigsList.

Mark this task complete when you've posted your ad.

Advertise Property for RentMarketingUltimate Nomad ChecklistWeek 56Week 57Week 58Week 59Week 60

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Post your "For Rent" (or "Rent To Own") ad on other local rental websites.

For example, in Northern Colorado you may also want to post an ad to NorthernColoradoRentals.com as well.

Mark this task as complete when you've posted ads to these other websites.

Advertise Property for RentMarketingUltimate Nomad ChecklistWeek 56Week 57Week 58Week 59Week 60

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If you haven't recently watched the live presentation of "Marketing for Tenants", you should review it again now:

https://learntoberich.com/marketing-for-tenants/

Mark this task as complete once you've watched it.

LeaseLease OptionProperty ManagementTake Calls from TenantsTenant BuyersTenant ScreeningTenantsUltimate Nomad ChecklistWeek 40Week 55

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As calls come in on your marketing, field Tenant and Tenant-Buyer calls and answer questions about the property, complete initial telephone screening and schedule showings.

Do your screening early... in this first call... don't meet unqualified people at the property.

Some people prefer to ask Tenant or Tenant-Buyer for permission using something like this:

"I’d be happy to answer any questions you have about the property."

"Then, if you don’t mind… if it seems like a property you'd be interested in... I’d like to ask you a few questions to see if you qualify for the property and… if you qualify… then we can schedule a time for you to see the property. Will that work for you?"

Mark this task complete when done.

Take Calls from TenantsTenant BuyersTenant ScreeningTenantsUltimate Nomad ChecklistWeek 56Week 57Week 58Week 59Week 60

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Write down the answers to these initial screening questions that you'd ask the prospective Tenant/Tenant-Buyer on the first phone call.

Remember, we're trying to determine if the Tenant/Tenant-Buyer is qualified to borrow something worth hundreds of thousands of dollars and whether you're going to meet them at the property to show it.

  • What's your name? Phone number? Email?
  • Who will be living there besides yourself?
  • Do you have any pets? How many? What breeds? What size? Neutered/spayed?
  • Do you have good landlord references?
  • Are you renting now? How much do you pay? Why are you moving?
  • What is your approximate gross monthly income?
  • Any felonies or other convictions?
  • Any evictions?
  • How is your credit?
  • How long are you looking to stay?
  • When are you looking to move in?

Mark this task complete when done.

Take Calls from TenantsTenant BuyersTenant ScreeningTenantsUltimate Nomad ChecklistWeek 56Week 57Week 58Week 59Week 60

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If the Tenant/Tenant-Buyer seems to qualify based on asking the Initial Screening Questions on your initial phone call then let them know you're going to send over a video tour of the property along with a copy of the application.

Ask them to watch the video and look at the application and then confirm a time to meet them at the property for a showing.

If they don't reply back confirming they've watched the video, looked at the application and will be there for the showing time, do not go to the showing.

Mark this task complete when done.

Take Calls from TenantsTenant BuyersTenant ScreeningTenantsUltimate Nomad ChecklistWeek 56Week 57Week 58Week 59Week 60

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Before confirming the showing, send the Tenant/Tenant-Buyer an email with a link to a video tour of the property that you've made and posted on YouTube along with a copy of the application.

They will need to confirm with you that they've seen the video and will be there at the showing before you drive out to meet them.

Mark this task complete when done.

Take Calls from TenantsTenant BuyersTenant ScreeningTenantsUltimate Nomad ChecklistWeek 56Week 57Week 58Week 59Week 60

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After your Tenant/Tenant-Buyer confirms they have watched the video tour of the property, read through your "Application" and wants to still meet at the property for a showing then confirm with them the date and time of the showing.

Mark this task complete when done.

Take Calls from TenantsTenant BuyersTenant ScreeningTenantsUltimate Nomad ChecklistWeek 56Week 57Week 58Week 59Week 60

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If you're already going to be out showing the property to one Tenant or Tenant-Buyer you might as well show it more people on the same trip. So, advertise that you're going to be showing the property around the time of your scheduled showing to maximize exposure and showings.

As an example, if your scheduled showing is at 4 PM, you might advertise an open showing window of 4:30 PM to 5 PM as well.

Mark this task complete when done.

Take Calls from TenantsTenant BuyersTenant ScreeningTenantsUltimate Nomad ChecklistWeek 56Week 57Week 58Week 59Week 60

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To prepare for showing the property to Tenant/Tenant-Buyers:

  • Show up early.
  • Turn all lights on.
  • Adjust temperature... turn AC to cooler in summer, heat to warmer in winter
  • Open windows if house is vacant and stuffy
  • Replace missing marketing materials (yard sign, flyers, etc)

Mark this task complete when done.

Showings to TenantsTenant ScreeningUltimate Nomad ChecklistWeek 56Week 57Week 58Week 59Week 60

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Meet your prospective Tenants and Tenant-Buyers outside at the property near their car when you initial gree them to show the property.

Peek inside their car to see how they maintain their car. That's how your house will look.

Introduce yourself and invite them inside the home.

Strongly recommend you take your shoes off and encourage them to do the same... this sets the tone that you take care of your property and they should too.

Mark this task complete when done.

Showings to TenantsTenant ScreeningUltimate Nomad ChecklistWeek 56Week 57Week 58Week 59Week 60

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Give prospective Tenants/Tenant-Buyers a quick tour of the property highlighting the things you love best about the property. Remember, why did you buy the property? Those are the things to share.

Invite them to take their time and look around the property.

If the property is still occupied... do not let the prospective Tenant/Tenant-Buyers out of your sight. Be aware of people looking in medicine cabinets or at the current occupant's personal stuff. Remember, you have NOT done your background check yet!

Mark this task complete when done.

Showings to TenantsTenant ScreeningUltimate Nomad ChecklistWeek 56Week 57Week 58Week 59Week 60

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While looking at the property, explain your pet policy and pet fee policy to your prospective Tenants/Tenant-Buyers.

Mark this task complete when done.

Showings to TenantsTenant ScreeningUltimate Nomad ChecklistWeek 56Week 57Week 58Week 59Week 60

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While looking at the property, explain how utilities work (which ones are in their name and which ones are kept in your name) as well as the utility fee policy to your prospective Tenants/Tenant-Buyers.

If you happen to know average utilities for the property, share that as well.

Mark this task complete when done.

Showings to TenantsTenant ScreeningUltimate Nomad ChecklistWeek 56Week 57Week 58Week 59Week 60

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While looking at the property, explain the next steps to your prospective Tenants/Tenant-Buyers:

  • Fill out application (and what that means)
  • How the application approval process goes
  • How you notify them
  • How the reservation deposit works when they're approved

Mark this task complete when done.

Showings to TenantsTenant ScreeningUltimate Nomad ChecklistWeek 56Week 57Week 58Week 59Week 60

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Provide any prospective tenants and/or tenant-buyers your "Rental Application" to complete by each person 18 or older that will be living in the property.

Mark this task as complete when done.

Showings to TenantsTenant ScreeningUltimate Nomad ChecklistWeek 56Week 57Week 58Week 59Week 60

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Once the Tenant/Tenant-Buyer has completed the "Rental Application" collect it from them. In an ideal world, you'd collect it from them at their current residence giving them little or no notice so you can see how they maintain that property.

Is the property clean? How is the outside maintained? This is how your property will look.

This is also a chance for you to visit with their pet to make sure it is friendly.

It should include:

  • A complete application for each person over the age of 18 who will be living in the property. That includes children over 18. Check the application to make sure you can read everything and that every spot is filled in. Ask them to mark any blank spots with "N/A" if they really are not applicable.
  • Application fee of $30 per application in cash, money order or cashier's check only. Do not accept personal checks.
  • Copy of valid Driver's License (or state-issued photo ID if no Driver's License). Check to make sure they look like the person on the ID and that the name on the ID matches the name on the application.
  • Proof of current balances in checking and savings accounts.
  • Previous 3 months of statements for checking and savings accounts.
  • Latest W-2 and most recent 2 months of paystubs (or if self-employed, previous 2 years or tax returns)

Remember, you're about to loan someone an asset worth (in many cases) hundreds of thousands of dollars... treat the application process as such!

Mark this task as complete when done.

Showings to TenantsTenant ScreeningUltimate Nomad ChecklistWeek 56Week 57Week 58Week 59Week 60

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When you pick up their application, do a pet visit. This is also an opportunity to see their current residence.

Mark this task as complete when done.

Showings to TenantsTenant ScreeningUltimate Nomad ChecklistWeek 56Week 57Week 58Week 59Week 60

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Either meet the Tenant/Tenant-Buyer at their car when they pull up or walk the Tenant/Tenant-Buyer out to their car after the showing so you can look inside their car.

If the inside of their car is full of trash, that's how your property will look since that's how they take care of stuff. Write down the condition of their car in your notes.

TIP: If this is not part of your written Tenant Evaluation Criteria, we strongly recommend adding it.

Mark this task as complete when done.

Showings to TenantsTenant ScreeningUltimate Nomad ChecklistWeek 56Week 57Week 58Week 59Week 60

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If the prospective Tenants/Tenant-Buyers do not submit an application do not chase them... you're not trying to convince them they should rent from you... you want someone who wants to rent from you and loves the home.

If they are interested, they'll follow up with you.

Do more marketing instead of chasing.

Mark this task as complete when done.

Showings to TenantsTenant ScreeningUltimate Nomad ChecklistWeek 56Week 57Week 58Week 59Week 60

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While we recommend scheduling individual showings for the property, there are some alternative methods you may consider in the right situation.

For example, you could also:

  • Put a lockbox on the property and have people show it themselves. Not good when tenant-occupied.
  • Hold an open house. "I'll be there from 1 to 3 PM on Saturday." Not good when tenant-occupied.
  • Scheduling back t back showings, every X minutes (usually 15). Recommended.

Mark this task as complete when done.

Showings to TenantsTenant ScreeningUltimate Nomad ChecklistWeek 56Week 57Week 58Week 59Week 60

1 Year After Closing

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Watch the recording of the live presentation of "Strategies to Get the Lowest Monthly Payment When Buying Real Estate" available on:

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

Mark this task as complete once you've watched it.

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

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Decide which Insurance Agent you will use to insure your home purchase. You'll need this once you go under contract, but you'll want to do it earlier so you can get an estimate of insurance for analyzing deals.

You can ask your Real Estate Broker for recommendations.

Mark this task complete once you've decided on an Insurance Agent to use.

Analyzing DealsDream TeamDream Team - Pre-ClosingFirst Meeting: Analyze DealUltimate Nomad ChecklistWeek 2Week 61Week 9

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Watch the recording of the live presentation of "Making Strong Offers that Get Accepted" available on:

https://learntoberich.com/making-strong-offers-that-get-accepted/

Mark this task as complete once you've watched it.

ClassesFirst Meeting: Write OfferMaking OffersMarket StatsUltimate Nomad ChecklistWeek 59Week 7

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Watch the recording of the live presentation of "Low Ball Offer Case Studies" available on:

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

Mark this task as complete once you've watched it.

ASAPClassesFirst Meeting: Write OfferMarket StatsUltimate Nomad ChecklistWeek 59Week 7

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Watch the recording of the live presentation of "Contract to Close" available on:

https://learntoberich.com/contract-to-close/

Mark this task as complete once you've watched it.

ClassesContract To CloseUltimate Nomad ChecklistWeek 60Week 8

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You should receive a copy of the Title Work from the Title Company shortly after going under contract with the help of the Real Estate Brokers involved in the transaction.

Review Title Work and highlight any sections you have questions about. Write down your questions.

IMPORTANT NOTE: Real Estate Brokers do not receive training on how to interpret Title Work so while they may be able to answer very basic questions, they are not competent to answer questions about the Title Work itself. For that, you will rely on getting info from the Title Company that is providing the Title Insurance and/or by hiring your own Title Attorney who is educated on Title Work.

You may want to meet with your Title Attorney and/or Title Company to ask questions about it.

If there is something in the Title Work that is unacceptable to you, let your Real Estate Broker know as soon as possible and definitely before the Record Title Objection Deadline.

Mark this task done once you've reviewed your Title Work.

Contract Deadline: Record Title Objection DeadlinePaperworkUltimate Nomad ChecklistWeek 61Week 9

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If you have questions about your Title Work, you should first contact the Title Insurance Company that will be providing you (selling you) a Title Insurance Policy.

If after talking to your Title Insurance Company, you still have questions, please talk to your Title Attorney.

Mark this task done once you've reviewed your Title Work.

Contract Deadline: Record Title Objection DeadlinePaperworkUltimate Nomad ChecklistWeek 61Week 9

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If you have questions about your Title Work, you should first contact the Title Insurance Company that will be providing you (selling you) a Title Insurance Policy.

If after talking to your Title Insurance Company, you still have questions, please talk to your Title Attorney.

Mark this task done once you've reviewed your Title Work.

Contract Deadline: Record Title Objection DeadlinePaperworkUltimate Nomad ChecklistWeek 61Week 9

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You should receive a copy of any off-record title materials shortly after going under contract with the help of the Real Estate Brokers involved in the transaction from the Seller. That's if any exist.

Off-record title materials like lease-option agreements, option agreements and unrecorded easements are relatively uncommon.

Review off-record title documents and highlight any sections you have questions about. Write down your questions.

IMPORTANT NOTE: Real Estate Brokers do not receive training on off-record title documents so while they may be able to answer very basic questions, they are not competent to answer questions about the off-record title matters. For that, you will rely on hiring your own Attorney who is educated on these matters.

If there is something in the off-record title documents that is unacceptable to you, let your Real Estate Broker know as soon as possible and definitely before the Off-Record Title Objection Deadline.

Mark this task done once you've reviewed your off-record title documents.

Contract Deadline: Off-Record Title Objection DeadlinePaperworkUltimate Nomad ChecklistWeek 61Week 9

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If you have questions about off-record title matters, you should talk to your Attorney to get your questions answered.

Mark this task done when complete.

Contract Deadline: Off-Record Title Objection DeadlinePaperworkUltimate Nomad ChecklistWeek 61Week 9

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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.

Mark this task complete when done.

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

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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

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After you go under contract decide whether you will do a Radon Test as part of your inspection on the property.

Mark this task complete when you decide.

Contract Deadline: Inspection Objection DeadlineInspectionUltimate Nomad ChecklistWeek 61Week 9

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Determine who you will use to test for radon once you have a property under contract. Often this is the same person you selected as your Home Inspector.

Ask your Real Estate Broker or Home Inspector for a recommendation.

Mark this task complete once you've decided which Radon Testing Company you'll use.

Contract Deadline: Inspection Objection DeadlineDream TeamDream Team - Pre-ClosingInspectionOptionalUltimate Nomad ChecklistWeek 61Week 9

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If you've decided to have a Radon Test performed, hire Radon Test Company to do Radon Test ideally during the same time your Home Inspector will be there inspecting the property. It may even be the Home Inspector doing the Radon Test.

Mark this complete after you receive the results of your Radon Test if you decide to perform a Radon Test.

Contract Deadline: Inspection Objection DeadlineInspectionUltimate Nomad ChecklistWeek 61Week 9

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After you go under contract decide whether you will do a Sewer Scope as part of your inspection on the property.

Mark this task complete when you decide.

Contract Deadline: Inspection Objection DeadlineInspectionUltimate Nomad ChecklistWeek 61Week 9

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Decide which Sewer Scope Company you will use to do a Sewer Scope on the property.

You can ask your Real Estate Broker for recommendations.

Mark this task complete once you've decided on a Sewer Scope Company to use.

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

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If you've decided to have a Sewer Scope performed, hire Sewer Scope Company to do Sewer Scope ideally during the same time your Home Inspector will be there inspecting the property.

If you have any problems, I strongly recommend paying the extra fee to get the video of the problem to provide as evidence with any Inspection Objection.

Mark this complete after your Home Inspection if you decide to perform a Sewer Scope.

Contract Deadline: Inspection Objection DeadlineInspectionUltimate Nomad ChecklistWeek 61Week 9

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After you go under contract decide whether you will do a Methamphetamine Test as part of your inspection on the property.

Mark this task complete when you decide.

Contract Deadline: Inspection Objection DeadlineInspectionUltimate Nomad ChecklistWeek 61Week 9

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Decide which Meth Test Company you will use to do a Meth Test on the property.

You can ask your Real Estate Broker for recommendations.

Mark this task complete once you've decided on a Meth Test Company to use.

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

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If you've decided to have a Meth Test performed, hire Meth Test Company to do Meth Test ideally during the same time your Home Inspector will be there inspecting the property.

Mark this complete after your Home Inspection if you decide to perform a Meth Test.

Contract Deadline: Inspection Objection DeadlineInspectionUltimate Nomad ChecklistWeek 61Week 9

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Bring a copy of the CLUE Report from your Insurance Agent to the Home Inspection so you can use it to look closer at any items you have questions about with your Home Inspector during the inspection.

Mark this task complete once you finished the Home Inspection.

Contract Deadline: Inspection Objection DeadlineInspectionUltimate Nomad ChecklistWeek 61Week 9

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Bring a copy of the "Seller's Property Disclosure" to Home Inspection so you can use it to look closer at any items you have questions about with your Home Inspector during the inspection.

Mark this task complete once you finished the Home Inspection.

Contract Deadline: Inspection Objection DeadlineInspectionSellers Property DisclosureUltimate Nomad ChecklistWeek 61Week 9

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Your Real Estate Broker can provide you with a list of recommended Insurance Agents. You're welcome to choose any Insurance Agent you want whether they are on the list or not.

Mark this complete when done.

Analyzing DealsContract Deadline: Property Insurance Objection DeadlineDream TeamDream Team - Pre-ClosingFirst Meeting: Analyze DealsUltimate Nomad ChecklistWeek 2Week 61Week 9

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If you have already done so, decide which Insurance Agent you will use to insure your home purchase. You'll need this once you go under contract, but you'll want to do it earlier so you can get an estimate of insurance for analyzing deals.

You can ask your Real Estate Broker for recommendations.

Mark this task complete once you've decided on an Insurance Agent to use.

Analyzing DealsContract Deadline: Property Insurance Objection DeadlineDream TeamDream Team - Pre-ClosingFirst Meeting: Analyze DealsUltimate Nomad ChecklistWeek 2Week 61Week 9

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Watch the recording of the live presentation of "Closing Real Estate Deals" available on:

https://learntoberich.com/closing-real-estate-deals/

Mark this task as complete once you've watched it.

ClassesClosingGet Your First Deal DoneNomad BasicsUltimate Nomad ChecklistWeek 61Week 9

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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

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Post your "For Rent" or (or "Rent To Own") ad on Zillow.

Mark this task complete when you've posted the ad.

Advertise Property for RentMarketingUltimate Nomad ChecklistWeek 56Week 57Week 58Week 59Week 60

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Post your "For Rent" (or "Rent To Own") ads for the property on CraigsList.

Mark this task complete when you've posted your ad.

Advertise Property for RentMarketingUltimate Nomad ChecklistWeek 56Week 57Week 58Week 59Week 60

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Post your "For Rent" (or "Rent To Own") ad on other local rental websites.

For example, in Northern Colorado you may also want to post an ad to NorthernColoradoRentals.com as well.

Mark this task as complete when you've posted ads to these other websites.

Advertise Property for RentMarketingUltimate Nomad ChecklistWeek 56Week 57Week 58Week 59Week 60

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As calls come in on your marketing, field Tenant and Tenant-Buyer calls and answer questions about the property, complete initial telephone screening and schedule showings.

Do your screening early... in this first call... don't meet unqualified people at the property.

Some people prefer to ask Tenant or Tenant-Buyer for permission using something like this:

"I’d be happy to answer any questions you have about the property."

"Then, if you don’t mind… if it seems like a property you'd be interested in... I’d like to ask you a few questions to see if you qualify for the property and… if you qualify… then we can schedule a time for you to see the property. Will that work for you?"

Mark this task complete when done.

Take Calls from TenantsTenant BuyersTenant ScreeningTenantsUltimate Nomad ChecklistWeek 56Week 57Week 58Week 59Week 60

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Write down the answers to these initial screening questions that you'd ask the prospective Tenant/Tenant-Buyer on the first phone call.

Remember, we're trying to determine if the Tenant/Tenant-Buyer is qualified to borrow something worth hundreds of thousands of dollars and whether you're going to meet them at the property to show it.

  • What's your name? Phone number? Email?
  • Who will be living there besides yourself?
  • Do you have any pets? How many? What breeds? What size? Neutered/spayed?
  • Do you have good landlord references?
  • Are you renting now? How much do you pay? Why are you moving?
  • What is your approximate gross monthly income?
  • Any felonies or other convictions?
  • Any evictions?
  • How is your credit?
  • How long are you looking to stay?
  • When are you looking to move in?

Mark this task complete when done.

Take Calls from TenantsTenant BuyersTenant ScreeningTenantsUltimate Nomad ChecklistWeek 56Week 57Week 58Week 59Week 60

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If the Tenant/Tenant-Buyer seems to qualify based on asking the Initial Screening Questions on your initial phone call then let them know you're going to send over a video tour of the property along with a copy of the application.

Ask them to watch the video and look at the application and then confirm a time to meet them at the property for a showing.

If they don't reply back confirming they've watched the video, looked at the application and will be there for the showing time, do not go to the showing.

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Take Calls from TenantsTenant BuyersTenant ScreeningTenantsUltimate Nomad ChecklistWeek 56Week 57Week 58Week 59Week 60

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Before confirming the showing, send the Tenant/Tenant-Buyer an email with a link to a video tour of the property that you've made and posted on YouTube along with a copy of the application.

They will need to confirm with you that they've seen the video and will be there at the showing before you drive out to meet them.

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Take Calls from TenantsTenant BuyersTenant ScreeningTenantsUltimate Nomad ChecklistWeek 56Week 57Week 58Week 59Week 60

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After your Tenant/Tenant-Buyer confirms they have watched the video tour of the property, read through your "Application" and wants to still meet at the property for a showing then confirm with them the date and time of the showing.

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Take Calls from TenantsTenant BuyersTenant ScreeningTenantsUltimate Nomad ChecklistWeek 56Week 57Week 58Week 59Week 60

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If you're already going to be out showing the property to one Tenant or Tenant-Buyer you might as well show it more people on the same trip. So, advertise that you're going to be showing the property around the time of your scheduled showing to maximize exposure and showings.

As an example, if your scheduled showing is at 4 PM, you might advertise an open showing window of 4:30 PM to 5 PM as well.

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Take Calls from TenantsTenant BuyersTenant ScreeningTenantsUltimate Nomad ChecklistWeek 56Week 57Week 58Week 59Week 60

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To prepare for showing the property to Tenant/Tenant-Buyers:

  • Show up early.
  • Turn all lights on.
  • Adjust temperature... turn AC to cooler in summer, heat to warmer in winter
  • Open windows if house is vacant and stuffy
  • Replace missing marketing materials (yard sign, flyers, etc)

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Showings to TenantsTenant ScreeningUltimate Nomad ChecklistWeek 56Week 57Week 58Week 59Week 60

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Meet your prospective Tenants and Tenant-Buyers outside at the property near their car when you initial gree them to show the property.

Peek inside their car to see how they maintain their car. That's how your house will look.

Introduce yourself and invite them inside the home.

Strongly recommend you take your shoes off and encourage them to do the same... this sets the tone that you take care of your property and they should too.

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Showings to TenantsTenant ScreeningUltimate Nomad ChecklistWeek 56Week 57Week 58Week 59Week 60

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Give prospective Tenants/Tenant-Buyers a quick tour of the property highlighting the things you love best about the property. Remember, why did you buy the property? Those are the things to share.

Invite them to take their time and look around the property.

If the property is still occupied... do not let the prospective Tenant/Tenant-Buyers out of your sight. Be aware of people looking in medicine cabinets or at the current occupant's personal stuff. Remember, you have NOT done your background check yet!

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Showings to TenantsTenant ScreeningUltimate Nomad ChecklistWeek 56Week 57Week 58Week 59Week 60

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While looking at the property, explain your pet policy and pet fee policy to your prospective Tenants/Tenant-Buyers.

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Showings to TenantsTenant ScreeningUltimate Nomad ChecklistWeek 56Week 57Week 58Week 59Week 60

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While looking at the property, explain how utilities work (which ones are in their name and which ones are kept in your name) as well as the utility fee policy to your prospective Tenants/Tenant-Buyers.

If you happen to know average utilities for the property, share that as well.

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Showings to TenantsTenant ScreeningUltimate Nomad ChecklistWeek 56Week 57Week 58Week 59Week 60

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While looking at the property, explain the next steps to your prospective Tenants/Tenant-Buyers:

  • Fill out application (and what that means)
  • How the application approval process goes
  • How you notify them
  • How the reservation deposit works when they're approved

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Showings to TenantsTenant ScreeningUltimate Nomad ChecklistWeek 56Week 57Week 58Week 59Week 60

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Provide any prospective tenants and/or tenant-buyers your "Rental Application" to complete by each person 18 or older that will be living in the property.

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Showings to TenantsTenant ScreeningUltimate Nomad ChecklistWeek 56Week 57Week 58Week 59Week 60

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Once the Tenant/Tenant-Buyer has completed the "Rental Application" collect it from them. In an ideal world, you'd collect it from them at their current residence giving them little or no notice so you can see how they maintain that property.

Is the property clean? How is the outside maintained? This is how your property will look.

This is also a chance for you to visit with their pet to make sure it is friendly.

It should include:

  • A complete application for each person over the age of 18 who will be living in the property. That includes children over 18. Check the application to make sure you can read everything and that every spot is filled in. Ask them to mark any blank spots with "N/A" if they really are not applicable.
  • Application fee of $30 per application in cash, money order or cashier's check only. Do not accept personal checks.
  • Copy of valid Driver's License (or state-issued photo ID if no Driver's License). Check to make sure they look like the person on the ID and that the name on the ID matches the name on the application.
  • Proof of current balances in checking and savings accounts.
  • Previous 3 months of statements for checking and savings accounts.
  • Latest W-2 and most recent 2 months of paystubs (or if self-employed, previous 2 years or tax returns)

Remember, you're about to loan someone an asset worth (in many cases) hundreds of thousands of dollars... treat the application process as such!

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Showings to TenantsTenant ScreeningUltimate Nomad ChecklistWeek 56Week 57Week 58Week 59Week 60

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When you pick up their application, do a pet visit. This is also an opportunity to see their current residence.

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Showings to TenantsTenant ScreeningUltimate Nomad ChecklistWeek 56Week 57Week 58Week 59Week 60

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Either meet the Tenant/Tenant-Buyer at their car when they pull up or walk the Tenant/Tenant-Buyer out to their car after the showing so you can look inside their car.

If the inside of their car is full of trash, that's how your property will look since that's how they take care of stuff. Write down the condition of their car in your notes.

TIP: If this is not part of your written Tenant Evaluation Criteria, we strongly recommend adding it.

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Showings to TenantsTenant ScreeningUltimate Nomad ChecklistWeek 56Week 57Week 58Week 59Week 60

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If the prospective Tenants/Tenant-Buyers do not submit an application do not chase them... you're not trying to convince them they should rent from you... you want someone who wants to rent from you and loves the home.

If they are interested, they'll follow up with you.

Do more marketing instead of chasing.

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Showings to TenantsTenant ScreeningUltimate Nomad ChecklistWeek 56Week 57Week 58Week 59Week 60

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While we recommend scheduling individual showings for the property, there are some alternative methods you may consider in the right situation.

For example, you could also:

  • Put a lockbox on the property and have people show it themselves. Not good when tenant-occupied.
  • Hold an open house. "I'll be there from 1 to 3 PM on Saturday." Not good when tenant-occupied.
  • Scheduling back t back showings, every X minutes (usually 15). Recommended.

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Showings to TenantsTenant ScreeningUltimate Nomad ChecklistWeek 56Week 57Week 58Week 59Week 60

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Call your prospective Tenant or Tenant-Buyer references.

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Process ApplicationTenant BuyersTenant ScreeningTenantsUltimate Nomad ChecklistWeek 60

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Using your written Tenant Evaluation Worksheet, evaluate your prospective Tenant or Tenant-Buyer and determine if they qualify.

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Process ApplicationTenant BuyersTenant ScreeningTenantsUltimate Nomad ChecklistWeek 60

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If you have not already done so and they're going to be staying in the property with a pet, you should conduct a pet visit to make sure the pet is friendly with strangers.

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Process ApplicationTenant BuyersTenant ScreeningTenantsUltimate Nomad ChecklistWeek 60

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If your Tenants or Tenant-Buyers pass your written Tenant Evaluation Criteria, approve them.

If your Tenants or Tenant-Buyers fail your written Tenant Evaluation Criteria, decline them.

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Process ApplicationTenant BuyersTenant ScreeningTenantsUltimate Nomad ChecklistWeek 60

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If your Tenants or Tenant-Buyers fail your written Tenant Evaluation Criteria based on their credit, you are required by law to send them a letter stating they were declined.

Here's one sample, but you should have it reviewed by your own attorney prior to using it:

http://www.free-legal-document.com/rejection-letter.html

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Process ApplicationTenant BuyersTenant ScreeningTenantsUltimate Nomad ChecklistWeek 60

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Give your Tenant/Tenant-Buyer a copy of the "Lease".

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LeaseLease OptionLease Signing and Lease ReviewTenant BuyersTenant ScreeningTenantsUltimate Nomad ChecklistWeek 60

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If you're offering a Lease Option, then explain the Option to your Tenant-Buyer but strongly encourage them to talk to their own attorney.

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Lease Signing and Lease ReviewPaperworkTenant BuyersUltimate Nomad ChecklistWeek 60

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Go over the "Lease" in detail, section by section explaining it to your Tenant or Tenant-Buyer.

Encourage them to seek advice from their attorney.

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LeaseLease Signing and Lease ReviewTenant BuyersTenantsUltimate Nomad ChecklistWeek 60

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If you're doing a Lease-Option, go over the "Option" in detail, section by section explaining it to your Tenant-Buyer.

Encourage them to get the advice of their own attorney.

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LeaseLease Signing and Lease ReviewTenant BuyersTenantsUltimate Nomad ChecklistWeek 60

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Have your Tenant/Tenant-Buyer sign the "Lease".

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LeaseLease Signing and Lease ReviewTenant BuyersTenantsUltimate Nomad ChecklistWeek 60

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If you're doing a Lease-Option, have your Tenant-Buyer sign the "Option".

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LeaseLease Signing and Lease ReviewTenant BuyersTenantsUltimate Nomad ChecklistWeek 60

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Once your Tenant/Tenant-Buyer has signed the "Lease" give them a copy.

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LeaseLease OptionLease Signing and Lease ReviewTenant BuyersTenant ScreeningTenantsUltimate Nomad ChecklistWeek 61

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If you're doing a Lease-Option, once your Tenant-Buyer has signed the "Option" give them a copy.

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LeaseLease OptionLease Signing and Lease ReviewTenant BuyersTenant ScreeningTenantsUltimate Nomad ChecklistWeek 61

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