Warren Buffet Talks About Buying “A Couple Hundred Thousand Single Family Homes”

When one of the richest men in the world decides to recommend buying single family homes with 30 year fixed rate financing, Nomads would be smart to listen (you can watch the video clip below).

Warren Buffett during a television interview with CNBC talks about how he’d buy a couple hundred thousand single family homes if he could figure out the property management. He says, “he’d load up on them.”

For Nomads, we’re not recommending you buy a couple hundred thousand single family homes… but you’re probably not Warren Buffett. Instead, we’re suggesting maybe you buy 1 and see how it goes. It if makes sense after attending all 50 different classes, buy another. If, instead, you decide “James is crazy and I don’t know what I was thinking”, you’ve still got a single home you’ve bought you can live it, rent out or sell. No harm, no foul and since the average net worth of a home owner is 36 times that of a renter, you probably did yourself a favor anyway.

In a recent NY Times article on How Homeownership Become the Engine of American Inequality they tell us home ownership is a proven wealth builder and savings compeller:

“There is a reason so many Americans choose to develop their net worth through homeownership: It is a proven wealth builder and savings compeller. The average homeowner boasts a net worth ($195,400) that is 36 times that of the average renter ($5,400).”

Warren goes on to talk about how he’d take out mortgages at very, very low rates. Well… that would be now. I show in the class we do on interest rates with charts just how low interest rates are right now. He explains how if you get a 30 year mortgage and it turns out interest rates were too high, you can refinance it next week. If it turns out interest rates were too low, the “other guy” (presumably the bank in this case) is stuck with it for 30 years. He says, “it is a very attractive asset class now.”

The host then asks Warren: if you were a young investor and you had the choice to buy a home or stocks, which would you invest in? Warren Buffett’s answer is clear: if he knew he’d be living in that same area for 5 years or so, he’d buy a home with a 30 year mortgage. He tells us it is a terrific deal.

If only Warren was a “handy type” (which is readily admits he is not), he says if he could buy a couple single family homes at distressed prices with 30 year mortgages it is a leveraged way to buy a very cheap asset.

He says, “that’s as attractive of an investment as you can make.”

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Nomad on $10 Per Hour

The following is a guest blog post by Jassen Bowman.

As the social and political debate rages on in the United State in regards to the minimum wage and the desire by many to see the minimum increased to $15 per hour, there is one statement that is repeated over and over again: It’s impossible to get ahead in this country on $10 per hour.

Most people acknowledge that absolute minimum wage jobs are difficult to get ahead on, but it’s not impossible. The conversation tends to become an argument for those career paths for which $10 to $12 per hour is about the limit of progress. In other words, starting an minimum wage is OK, but when the job caps out at $10 or $12 per hour, people lose the opportunity to get ahead.

In 2015, this become an even more heated debated when President Obama used his executive authority to increase the minimum wage for federal employees and contractors to $10.10. Many politicians were quoted as saying that, while an improvement, it was still impossible to get ahead on $10.10 per hour. Sen. Marco Rubio stated this on an episode of The Daily Show with Jon Stewart, which is when the debate really caught my ire.

In this post, I will explain that it’s not only possible to get ahead in life on $10 per hour, but also possible to build a multi-million real estate portfolio on that same $10/hr job.

Let’s start with a basic but seldom discussed truth: The real problem isn’t the wage base, but rather the exhaustive consumerism of the standard American lifestyle.

Much has been written about the Standard American Diet (SAD), and it has become mainstream thought to accept the fact that, in general, Americans eat like crap. Two thirds of us (myself included) are fat, and the reason why is not a mystery.

Much less, sadly, has been written about the waste that exists in the average American household. The cadre of bloggers and authors covering the topic is small, albeit vocal within their specific sub-groups. Unfortunately, those of us that embrace simpler, low-budget lifestyles are viewed as oddballs — the idea of living well below your means has not yet crept into the American mainstream. I don’t expect this post to have any impact on that, but I’m at least going to take the time to throw my two cents into the debate.

I’m going to specifically address Sen. Rubio’s comment about not being able to get ahead on the new federal employee minimum wage. All of the numbers I’m about to put out there onto the Interwebs are on a per person basis.

The first fact that I want to mention is that almost everything that we spend money on is a want, rather than a need. Westerners in particular are too quick to confuse the two. My years of international travel taught me this very important lesson.

Needs are things like oxygen, water, and food. Technically speaking, humans don’t need shelter and clothing — they’re simply contrivances that allows us to extend our habitat range. For the sake of this discussion, however, I will put those into the “need” category. Most people will find themselves arrested without clothing, so it’s probably OK to lump it into the “need” category.

Next, I need to point out that a large chunk of what we spend money on is straight up a waste of money. The irony never ceases to amaze me when a low-income individual complains about their finances while smoking two packs a day.

So let’s see how to go about living comfortably on $10.10 per hour. I’ll make the assumption that such a person is working 40 hours per week. That’s $404 gross per week, $21,008 per year, $1750 per month. For reference, this is about equal to the US Health & Human Services federal poverty level for a family of three.

Now, let’s start spending!

First, let’s deal with Uncle Sam’s cut. The average American earning $21,000 per year actually has a negative effective tax rate. In other words, due to such things as the Earned Income Credit and the Child Tax Credit, the average low-income worker doesn’t actually pay income taxes, but rather receives a refund for free. In other words, low income people, especially those with children, receive a tax refund via money actually paid in by higher income individuals. This is a wealth distribution mechanism, pure and simple. According to the IRS, the average Earned Income Tax Credit paid out in 2016 was $2,455 per person, and a total over $67 billion in taxpayer dollars was redistributed to low income families.

For the sake of argument, we’ll consider that this is a single person with no children. For 2017, that makes their combined personal exemption and standard deduction equal to $10,400. This person is not eligible for the EIC or CTC, and thus their taxable income is $10,608 for the year. Federal income tax on this is $1,125, for an effective income tax rate of 5.4%.

Jane Doe now has $19,883 left for the year.

Oh, but let’s not forget Social Security and Medicare. That’s going to eat up another 7.65%, or $1607, from Jane’s paycheck. That leaves her with $18,276 for the year, and an effective federal tax rate of 13%.

State and local taxes are also going to take a bite. The national average for all income earners, of all wage levels, is just under 10% for state and local taxes. I prefer living in states with no state income tax, but others don’t hold that view. Since there is such a wide range of possibilities, I’m going to pick my old home state of Colorado and say that Ms. Doe is paying 4.65% to the state, or $493, on her federal taxable income.

Add that all up, and we see that she’s paying $3,225 in federal and state wage taxes. That’s a combined effective tax rate of 15.3%. Don’t try comparing this number to other articles you find online, because most sources are only taking income taxes into consideration when running these numbers, which simply isn’t accurate.

So Jane is now down to living on $17,783 for the year after taking into consideration the government’s cut. Let’s look at what is normally the biggest chunk of any person’s spending: Housing.

Too many people, when looking at these scenarios, grossly overestimate the housing level required to be comfortable. To put it bluntly, Jane doesn’t need her own apartment. She might want her own apartment, but she sure as hell doesn’t need it. In fact, this becomes particularly important when we look at Jane’s desire to build a multi-million dollar real estate portfolio.

Jane needs some time to save up for her Nomad down payment and closing costs. So for now, let’s have her rent a room in somebody’s home. A quick look on Craigslist shows me quite a few rooms for rent in the $350 to $900 per month range. Let’s pick something for $450, in a nice home living with a married couple without kids. That’s $5400 per year to live quite comfortably by global standards. It’s also not bad for a city like Denver, where the cost of housing index is 85% higher than the US national average.

Jane is now down to just $12,383 per year to live on. Let’s talk about getting around town.

I just checked, and Jane can get an RTD monthly pass for $1,089 per year. This will allow her to get back and forth to work, go get groceries, visit friends, etc. The Denver bus system is quite good by American standards, and Denver has a growing light rail system, also.

I know what some people are saying. “Hold on partner, you expect her to take the BUS?” Yes, that’s correct.

For a city dweller in particular, owning a car is a totally unnecessary luxury. That’s a blasphemous statement in the United States, to be sure, but it’s true. In some cities, such as New York City, it’s more normal not to own a car, but in general, this would be “strange” in most cities.

Cars are a tremendous expense. Even though gas prices are going down, there’s the cost of acquisition, maintenance, parking (in some places), etc. The IRS National Standards allow for a whopping $471 per month car payment and, for Denver, $213 per month in operating costs. These standards, used for calculating ability to pay back tax debts, represent a “middle class” American lifestyle.

Do you realize how much money that is? That’s over $8,200 per year in expected vehicle costs. That’s insane. For the several years, I got by just fine without owning a car (granted, I had a motorcycle, which is far cheaper to own and operate, but it mostly just sat in storage). For the types of errands that most Americans run, we do so very inefficiently. By planning ahead and clumping our trips, taking the bus is just fine.

Jane is now down $11,294 to live on. Let’s talk food.

As somebody that’s done it, I can tell you how easy it is to spend $900 per month, as a single person, on food. This is accomplished by eating out for every meal. It’s very easy to do.

What’s also easy, also speaking from experience, is to just cook at home and make simple meals. Simple, healthy meals really aren’t that expensive. I personally believe that the slow cooker is one of the greatest inventions ever. Ten bucks worth of ingredients in the slow cooker can easily feed me for three or four days.

Taking this into account, plus a number of other articles I found online in a super simple Google search, proves my point that a single person can eat quite well on as little as $100 per month. Really, really well on $200 per month — this is about what I currently spend myself. So let’s cut the difference and give Jane a $150 per month food budget.

Jane is now down to $9,494 per year to live on.

Let’s talk health insurance, now that it’s required by law. Jane’s situation qualifies her for a $177 per month Premium Tax Credit to help pay for health insurance. On the Colorado Healthcare Exchange, her cheapest plan is going to run $206 per month (just two years ago, it was $107 per month). Minus the credit, that’s only $29 per month for health insurance, or $348 per year.

This brings Jane down to $9,146 to live on for the year.

What else does Jane need?

Nothing. Jane doesn’t need anything more.

I’m making an assumption here that Jane has a wardrobe already. If Jane is smart, she’ll recognize the fact that she doesn’t need to spend hundreds of dollars per month on clothes that will just sit in her closet anyway (I’ve read studies showing that, on average, Americans never wear 3/4 of the clothing they own). Maybe Jane needs to replace a worn out piece of clothing occasionally, but this will be only a few hundred dollars per year, at most. Even less if she shops at thrift stores.

Note that I’m not going to the super-extreme here. There are other blogs, such as this one, that advocate mending your own clothing, darning socks, etc. Most people aren’t going to be willing to do that. I know I’m not.

Jane’s going to probably purchase personal care items like soap and deodorant. I’m not suggesting giving those up. But, at most, these items shouldn’t run more than a couple hundred bucks per year.

We’re also going to assume that Jane has no debt. In this scenario, Jane is in her early to late 20’s., and that she’s averse to consumer debt, as she should be.

I used to be a total moron in this regards. Absolute idiot. Dumbest person on the planet. To the point of bankruptcy. I’m not proud to admit it, but filing for Chapter 7 bankruptcy is one of the smartest financial moves I ever made, because now I’m debt free.

But we’re going to assume that Jane is smart, and doesn’t have any debt. Not even student loans, because she didn’t think she could afford college, and her parents didn’t have the money to send her, either.

So look at what we just laid out. Jane is making $10.10 per hour, the new minimum wage for federal employees. I even made her pay for her own health insurance, just in case she’s just a federal contractor and doesn’t get health insurance at work. Jane lives in a room in a nice house in suburban Denver, and pays her own way in life. She earns over $9,000 per year more than she actually needs to live on.

You’ll notice that there are some things Jane doesn’t have. For example, a cell phone. With many cell phone plans breaking the $100 per month mark, this service is yet another example of the extravagance of Western life, and it’s a needless expense.

Blaspheme, yes. But really, it’s true. Jane doesn’t need to be reached at a moment’s notice. She doesn’t need to check Facebook every two seconds. Jane can spend time with her friends face to face. Heck, she can buy the first round of beer because she’s not paying for a cell phone. Ya’ know, the way life was 20 years ago, when hardly anybody had a cell phone.

Does this mean she doesn’t have one? No, it doesn’t. Jane likes the security of being able to call a cab if her friends ditch her at the bar, or to quickly check the bus schedule if she’s on an unfamiliar route. She also calls her mom once a week for half an hour.

Well, guess what? That level of realistic talk and data can be had with a $20 phone and about $20 per quarter in pre-paid cell phone cards. I’m a tax consultant and marketing consultant, for crying out loud — you know, somebody that spends a fair amount of time on the phone — and this is the type of cell phone service I use.

With all this said, and even some cash here and there for entertainment or a round of drinks, and the math clearly shows that Jane has well over $8,000 per year extra to do with as she pleases.

The point of all this math was to counter Sen. Rubio’s comment that a person can’t get ahead on $10.10 per hour. Well, using this calculator I was able to determine that full-time attendance at Front Range Community College in Colorado will cost Jane $5,338 in tuition and books. Interestingly, the same calculator states that, since she’s low-income, she’ll receive $8,275 in grant aid (NOT LOANS). This covers her full cost of college.

This handy calculator from the college shows something else pretty awesome. It says that Jane’s room and board cost is only $9,603, plus gives her an allowance of over $5,000 for transportation and miscellaneous expenses. Jeesh, those numbers look familiar, don’t they?

The reality here is that Jane can pay her own way through college at FRCC while working her $10.10 per hour job, even without grant money. She has the cash from her job to do this. BUT, because she gets the grant aid, some much more interesting possibilities open up if Jane saves that $9,000 per year that she has left over. We’ll get to that in a moment.

Is her schedule going to be hectic? Yes, it is. Is she going to be tired, and have to sacrifice having an iPhone 7 and a daily latte? Yes on all counts.

But come on, those aren’t sacrifices. They’re luxuries. And since Jane wants to get ahead in life, she’s going to spend her nights and weekends going to class and studying. She’s going to apply herself, and avoid wasting money on needless spending. If necessary, she’ll make two trips to work each day in order to accommodate a class she needs for her academic program that is only offered mid-day. (Although it should be noted that many of FRCC’s career certificate programs can be completed entirely via evening classes.)

When she finishes her certificate program, Jane will earn $12 to $20 per hour as a welder, LPN, computer technician, etc. These are one year or less certificate programs. After her career change and significant salary increase, Jane may decide to pursue her Bachelor’s degree in her spare time. Or maybe not, because now she has a valuable skill and a career.

This is how Jane gets ahead on $10.10 per hour. In fact, based on these numbers, and using financial aid, Jane can actually get ahead in life on pure minimum wage.

Oh, but what if Jane is a single parent? Doesn’t that change the equation? Yes, of course it does. Maybe Jane is going to have to suffer the indignity of living at home with her parents for a couple more years (which many 20-somethings are doing already anyway). Maybe she’ll have to work a swing shift job while her father watches her child in the evening, and she can only take two or three classes at a time. Regardless, Jane can still get ahead in life by making the right choices — even on minimum wage.

Bottom line: The assertion that somebody can’t get ahead on a low income is just plain incorrect.

Now let’s take things a step further, and demonstrate how Jane can actually build wealth on her $10 per hour wage.

We’ve already demonstrated that Jane’s tuition and fees can be fully covered by grants and the Colorado Opportunity Fund. So that’s taken care of. Instead of a room in somebody’s else, let’s put her into a small apartment with a roommate. There are plenty of decent apartments in the Denver suburbs that are in the $1000-$1200 per month range. Let’s split the difference, and move her into an $1100/mo apartment in Northglenn that I found right now on Craigslist, or $550/mo for her half. Let’s say they skip cable TV, turn the lights off when not in use, and throw on a sweater instead of jacking the heat up to 72 in the winter. Let’s estimate utilities at $100, for a total housing cost of $650/mo. Although substantially higher than the previous scenario, the extra $2400 per year is well within her budget.

Why do this?

Because Jane has spoken to a mortgage lender about the FNMA Homeready program. The program allows low income homebuyers to purchase a home and use a roommate’s monthly rent to apply toward qualifying income. The roommate rent can be up to 30% of the total gross income used for qualification. In addition, the presence of the non-borrower household income can be used as a compensating factor that allows going up to a 50% debt to income ratio.

If Jane’s roommate sticks around for a full year, and agrees to move in and continue paying rent as a roommate after Jane buys a house, then a fascinating thing happens. Including the rent payment from the roommate, Jane can qualify for a mortgage payment up to $1250 per month, including principal, interest, taxes, and insurance (PITI). This allows her to buy a house up to about $195,000 — plus she had the full year with the roommate to save up for down payment and closing costs, which together will cost roughly $9,000. Remember that number from earlier?

So this means that… Wait for it… 12 months of living in a cheap apartment with a roomie allows a $10/hr worker to buy a decent house.

This is all assuming no other debt and spotless credit.

Are there single family, non-manufactured homes available in greater Denver? Yes, yes there are.

Jane can now pursue the low down payment Nomad model, and buy a new home each year to build her multi-million dollar real estate portfolio. As she finishes her education, her income will go up, improving her ability to qualify for future mortgages.

So there you have it. Real math showing that low income, non-college educated individuals can not only squeak by, but actually build a multi-million dollar real estate portfolio over the course of their life working entry-level jobs.

People who say it cannot be done should not interrupt those who are doing it.

Volunteer

Thank you for your interest in volunteering to help run one of our local chapters of the Nomad Investor Clubs on Meetup. We appreciate your interest.

Nomad Investor Clubs is a volunteer run organization that relies heavily on volunteers to coordinate and facilitate the local meetups chapters on Thursday evenings.

How Are Chapters Organized?

Most weeks, our local meetup chapter will have a discussion meeting. In some ways, we operate like a book club where Nomads all read the same book each week then get together to discuss it. Except… we’re not reading a book… we’re watching a class on a specific topic relating to the Nomad investing model.

The classes are taught live by James on Tuesday evenings at 6 PM MST. They are open to the public and free to attend. All Nomads and volunteers are encouraged to attend the webinar live to be able to get the content, ask questions and get answers. Plus, you should attend the class live just in case the recording fails (which does happen).

We do attempt to record each class and make that recording available for a very limited amount of time before it gets saved away in the archives for Premium Nomads only. The recording of the class from Tuesday is usually available for everyone for free from late on Tuesday night, Wednesday and Thursday up until the meetup. After the meetup on Thursday, the recording is archived and only available to Premium Nomads and we start allowing registration for next week’s class.

Each local chapter of Nomad Investor Club usually has 1 to 3 volunteers.

What Do Volunteers Do

Volunteers are expected to:

  • Promote and uphold the “Go Giver” philosophy and culture of the clubs (there’s a 4 minute video on the principles of the “Go Giver” book below)
  • Attend the classes on Tuesday evening (or at least watch the video recording of the class on Wednesday or Thursday before the meetup so they know what the discussion is about)
  • Attend most meetups on Thursday
  • Work together harmoniously with other volunteers and coordinate to make sure another volunteer will cover for you if you can’t make a meetup
  • Coordinate a venue for the Thursday meetups – Starbucks is fine for your first few meetups until you outgrow it
  • Greet Nomads and make them feel comfortable and welcome and
  • Encourage discussions on Thursday’s meetup with Nomads about Tuesday’s class topic

“Go Giver” Philosophy

The Nomad Investor Clubs culture is based largely on the principles taught in the “Go Giver” book (summarized in the 4 minute video below).

Volunteer Benefits

Volunteers get a free Premium Nomad membership as our way of saying, “thank you for volunteering!”

They also get the satisfaction of knowing they’re being active in the Nomad community and helping their fellow Nomads on the Nomad path.

Interested In Volunteering?

If you’re interested in volunteering and helping your local Nomad Investor Club chapter, here are the steps:

Step 1

Sign up for free for the meetup for your local area (or let us know if there isn’t one formed yet):

https://www.meetup.com/pro/nomads/

Step 2

Register for a free Nomad membership:

https://LearnToBeRich.com/register/

IMPORTANT TIP: You’ll want to remember that address since new Nomads that visit the meetup on Thursday will often ask you how to register for a free account.

Step 3

Register for the next class:

https://LearnToBeRich.com/meetup/

IMPORTANT TIP: You’ll want to remember that address since new Nomads that visit the meetup on Thursday will often ask you how to register for the classes or to access the recording of the class for Wednesday and Thursdays.

Step 4

Contact James to let him know that you’re interested in volunteering.

James Orr, Realtor in Fort Collins, Colorado and Father of Nomads
jamesorr@gmail.com (this is what James prefers but you can call too)
Mobile: (970) 225-6989

Let him know:

  • Your full name
  • Email address
  • Mobile number in case he needs to reach you during a Thursday meetup
  • What city of Nomad Investor Club you’re interested in volunteering for

If you’re the first volunteer, we’ll need to find a venue to meet at. New, small chapters can usually meet at a Starbucks until you start having larger numbers of Nomads attend.

Step 5

Once you’ve volunteered at your first meetup or two, ask James to upgrade you to a free Premium Nomad.

Who Pays For The Meetup?

Nomad Investor Clubs LLC pays the cost of the Meetup Pro fee (about $35 per month), the technology for the classes and website, etc. We expect volunteers to find free venues to host the meetups and volunteers should not spend money on the meetups.

Volunteers are not required to invest or spend any money related to the running of the Nomad Investor Clubs, but volunteers may want to know how the Nomad Investor Clubs funds its operations and can afford to provide the classes, technology and pay for the cost of Meetup: the chapters are expecting a small percentage of the Nomads to voluntarily “chip in” to the support the club and/or upgrade to Premium Nomad. We are also seeking real estate agent and lender sponsors to offset the cost of running the club. We may also from time to time look for additional opportunities to help fund the Nomad mission like bringing in a guest that teaches a topic other than Nomad a few times a year. James, who is a real estate broker may also refer local Nomad buyers to a real estate agent in exchange for a referral fee.

Questions?

If you have questions, please contact James:

James Orr, Realtor in Fort Collins, Colorado and Father of Nomads
jamesorr@gmail.com (this is what James prefers but you can call too)
Mobile: (970) 225-6989

Meetup

Nomad with Lease Option Exit Overview

This week's class description:

A variation to the plain vanilla Nomad model is to convert your properties to lease options. This means having tenant buyers rent the property with the intent to buy it from you instead of converting them to straight rentals. There are many benefits of this model and some significant downsides to consider. We cover them in detail in this class plus much, much more.

Attend the live webinar then attend the local meetup in your market to discuss the class, network with other Nomads and professionals that can help you on your own Nomad path.

Step 1

Log in to your FREE account and then register to attend the live, FREE webinar of this class where you can also ask questions.

Once it is recorded, we will post the video here to watch (usually until Friday when we start looking at next week's class).

New? Create a FREE account

Watch Last Week's Video

Log in to your FREE account to watch a recording of last week's class.

New? Create a FREE account

Step 2

RSVP and attend your local Nomad Investor Club chapter meetup to discuss this week's class to network with other local Nomads and professionals that can help you implement the Nomad model in your local market..

Usually Thursdays at 6 PM local time

IMPORTANT: Class dates and times are subject to change without notice. Check your local Nomad Investor Club meetup for date, time and location of local chapter discussion groups.

Upcoming Classes and Meetups

Class Name/Meetup Discussion Topic Webinar Date
Marketing for Tenants
May 30
Tenant Screening
Jun 6
Mock Tenant Screening
Jun 20
Tenant Buyer Sales and Marketing
Jun 27
The $5,000 Lease Demystified
Jul 11
Property Management Mastery
Jul 18
The Lease Option - The Lease Part II
Jul 25
Solving Tenant Challenges
Aug 1
Fixer Upper Nomad Overview
Aug 8
Cash Flow Explosion
Aug 15
Bookkeeping and Accounting for Nomads
Aug 22
Return on Investment and Return on Equity
Aug 29
Topic To Be Determined
Sep 5
Legacy Nomad Overview
Sep 12
Emergency Plan Workshop
Sep 19
Analyzing Deals 301: Multi-Family for Nomads
Sep 26
Asset Protection 101: Overview for Nomads
Oct 3
Asset Protection 102: Document Examples
Oct 10
Young Professional Nomad Overview
Oct 17
How to Acquire a Multi-Million Dollar Real Estate Portfolio with just $3,000
Oct 24
Interest Rate Scenarios for Nomads
Nov 7
Warning: The Dangers and Risks of Real Estate
Nov 14
Little Down Nomad Overview
Nov 28
Building Wealth with Real Estate using Appreciation
Dec 5
College Nomad Overview
Dec 12

IMPORTANT: Class dates and times are subject to change without notice.

Previous Recorded Classes

Nomad Investor Clubs

We are actively expanding and adding new Nomad Investor Clubs. If you're interested in starting one in your local market, please call or email James at (970) 225-6989 or jamesorr@gmail.com.

In the meantime, these are the 21 Nomad Investor Clubs that we have already.

And these are the cities we're likely to add next.

City, State Est. Population
Fort Worth, Texas 833,319
Charlotte, North Carolina 827,097
El Paso, Texas 681,124
Detroit, Michigan 677,116
Washington, District of Columbia 672,228
Boston, Massachusetts 667,137
Memphis, Tennessee 655,770
Nashville-Davidson, Tennessee 654,610
Portland, Oregon 632,309
Oklahoma City, Oklahoma 631,346

Checklist Tags

We group tasks by tags. One task can have multiple tags so that it can be categorized into multiple groups. For example, a class on Catch Up Nomad might be grouped in with the 'Class' tag but also in the 'Catch Up Nomad' tag.

You can see the list of the various tags we have below. Click on the tag name to see a list of tasks with that tag.

Tag Name Tools
Accounting
After Checklists
Analyzing Deals
Appreciation
Asset Protection
Before Checklists
Bookkeeping
Bookkeeping and Accounting for Nomads
BRRRR
Buying Process Overview
Capital Expenses
Cash Flow
Catch Up Nomad
Classes
Closing
College Nomad
Contract To Close
CraigsList
Debt Paydown
Depreciation
Down Payment
During Checklists
Emergency Plan
Facebook
Financing
First Meeting
First Meeting Paperwork
Fixer Upper Nomad
For Lenders
For Real Estate Agents
Get Your First Deal Done
Inspection
Interest Rate
Lease
Lease Option
Legacy Nomad
Little Down Nomad
Making Offers
Market Stats
Marketing
Meetup
Meetup Setup
Multi-Family
Net Operating Income
Nomad Basics
Post Closing
Pre-Showings
Professional Services Provided
Property Management
Return On Equity
Return On Investment
Sellers Property Disclosure
Showings
Solving Tenant Challenges
Sponsors
Tenant Buyers
Tenant Screening
Tenants
Understanding Appreciation
Writing Offer
Young Nomad

Class

Marketing for Tenants

We strongly recommend that you start marketing for tenants to find your next tenant or tenant buyer at least 60 days prior to moving out if it is your Nomad owner occupant property or before your current tenant's lease is set to expire. This class covers in step-by-step detail the entire process for marketing for your tenants. You'll learn about what to include in your ads, where to post ads and much more.

IMPORTANT: Class dates and times are subject to change without notice.

Additional Classes

Tenant Screening
Jun 6 Ad
Mock Tenant Screening
Jun 20 Ad
Tenant Buyer Sales and Marketing
Jun 27 Ad
The $5,000 Lease Demystified
Jul 11 Ad
Property Management Mastery
Jul 18 Ad
The Lease Option - The Lease Part II
Jul 25 Ad
Solving Tenant Challenges
Aug 1 Ad
Fixer Upper Nomad Overview
Aug 8 Ad
Cash Flow Explosion
Aug 15 Ad
Bookkeeping and Accounting for Nomads
Aug 22 Ad
Return on Investment and Return on Equity
Aug 29 Ad
Topic To Be Determined
Sep 5 Ad
Legacy Nomad Overview
Sep 12 Ad
Emergency Plan Workshop
Sep 19 Ad
Analyzing Deals 301: Multi-Family for Nomads
Sep 26 Ad
Asset Protection 101: Overview for Nomads
Oct 3 Ad
Asset Protection 102: Document Examples
Oct 10 Ad
Young Professional Nomad Overview
Oct 17 Ad
How to Acquire a Multi-Million Dollar Real Estate Portfolio with just $3,000
Oct 24 Ad
Interest Rate Scenarios for Nomads
Nov 7 Ad
Warning: The Dangers and Risks of Real Estate
Nov 14 Ad
Little Down Nomad Overview
Nov 28 Ad
Building Wealth with Real Estate using Appreciation
Dec 5 Ad
College Nomad Overview
Dec 12 Ad

IMPORTANT: Class dates and times are subject to change without notice.