Blueprints by Monthly Income

The following are The Real Estate Financial Planner Blueprints™ grouped by household gross monthly income.

Household gross monthly income is the income you and your spouse/significant other earn before taxes each month combined. It is usually your paychecks, but for some folks it may be a stipend or retirement pension.

As an example, if you earn $3,000 per month from your job and your spouse earns $3,000 per month from their job, you should consider looking at the $6,000 per month blueprints. Use The Real Estate Financial Planner™ to modify just about any of the assumptions in the blueprint to customize for your unique situation.

Emergency Escape Plan

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Complete "Emergency Escape Plan" checklist

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

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Emergency Escape PlanEmergency PlanUltimate Nomad Checklist


Upon purchase of a new property, draw a map of your home.

Include all doors, windows, & smoke alarms.

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Emergency Escape PlanUltimate Nomad Checklist


Plan 2 ways to get out of each room.

This can include both doors and windows.

Check to make sure you can open all doors and windows easily.

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Emergency Escape PlanUltimate Nomad Checklist


Basements containing any habitable room (bedroom, family room, game room) must have an egress window.

As per the IRC 2015 the minimum requirements for an egress window are:

  • Window opening can’t exceed 44” from the finished floor
  • Minimum opening area of 5.7 square feet
  • Minimum opening height is 24” high

IRC regulations get updated every 3 years.

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Emergency Escape PlanUltimate Nomad Checklist


Plan how to escape from the 2nd story of the property.

  • Map escape routes leading down to the main level via stairs indoor or outdoors (if available)
  • Place fire extinguishers throughout the house including on the 2nd floor
  • Put fire escape ladders in all upstairs bedrooms. These are relatively inexpensive and can be deployed quickly

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Emergency Escape PlanUltimate Nomad Checklist


In case of fire:

  • If small enough, attempt to extinguish
  • If not, get low and make your way to your planned exit route
  • Close any doors between you and the fire to keep out the smoke and slow the spread of the fire
  • Attempt to escape from the house
  • Call 911

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Emergency Escape PlanUltimate Nomad Checklist


Review the emergency plan with your tenants when they move in.

Most people fail to make emergency escape plans and since you've already made one for the property it won't require any extra effort and it may one day save their lives.

It will also serve as a reminder to you to review your own escape plan with your family for your current residence.

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Emergency Escape PlanUltimate Nomad Checklist

Leaking Water Heater


If the water heater is leaking complete the "Leaking Water Heater" checklist:

https://learntoberich.com/leaking-water-heater/

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Leaking Water HeaterProperty MaintenanceUltimate Nomad Checklist


Determine the location of the leak.

Look at the drain valve at the bottom of the tank. If this is leaking call a plumber to replace the faulty drain valve.

If the leak is coming from the tank you will need to replace the water heater.

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Leaking Water HeaterUltimate Nomad Checklist


Turn off the water heater.

For electric water heaters, find the water heater’s circuit breaker and flip it to “off.”

For gas water heaters, look on your water heater for an on/off switch or dial. Turn it to “off.”

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Leaking Water HeaterUltimate Nomad Checklist


Turn off the cold water supply. Look for a lever or dial above your water heater.

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Leaking Water HeaterUltimate Nomad Checklist


Call a plumber for help.

They may offer a free inspection and quote for the repairs and/or replacement.

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Leaking Water HeaterUltimate Nomad Checklist