Closing Disclosure Checklist

Recently, I had a client discover almost a year after closing (while doing his taxes) that there was a small error on his Closing Disclosure form. This isn't a form that we typically see since it is a disclosure right from the Lender to the Buyer regarding their loan. So, having never seen their Closing Disclosure, it is not an error I would normally be able to catch for clients.

This client, who is a super smart engineer, made his own small checklist of things to check on the Closing Disclosure. He shared it with me and, with his permission, I am able to share it with you as well.

So, here is a special, simple checklist of things to check on your Closing Disclosure when buying properties as a Nomad.

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Net Operating Income

Net Operating Income (often abbreviated NOI) is the income you receive from your investment after all your expenses except the expense of debt. It does NOT include your mortgage payment.

Net Operating Income then is the cash flow you'd receive on a property if you did not have a loan on it.

Net Operating Income/Purchase Price of the property is the Cap Rate of the property.

Net Operating Income Related Tasks and Resources

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Return On Investment

Return on Investment (often abbreviated ROI) is the return you're receiving divided by the investment that you've made to get that return.

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More info about this task...
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 Deals Cash Flow Classes Net Operating Income Return On Investment

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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 Deals Cash Flow Classes Lease Option Net Operating Income Return On Investment Tenant Buyers

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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 Flow Classes Lease Option Net Operating Income Return On Investment Tenant Buyers

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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.

Appreciation Cash Flow Classes Debt Paydown Depreciation Return On Equity Return On Investment

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Read the "Return On Investment" blog post on

https://learntoberich.com/return-on-investment/

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Return On Investment Understanding Appreciation

Here are examples of Return On Investment when you're not leveraged and with various amounts of leverage.

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Asset Protection 102: Document Examples

The Asset Protection 102: Document Examples class will be posted here once we’ve recorded it. It is scheduled to be taught in October, 2017.

See the Nomad Class Schedule for more information on upcoming classes in the meantime.

More info about this task...
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 Protection Classes

More info about this task...
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 Protection Classes

Improvements

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

Sponsor Content

There is additional content on this page that is shown to Sponsors only.

Sponsors are usually Real Estate Agents and Lenders who'd like to work with Nomads in their local market.

Click here for more information on how to become a Sponsor.

IMPORTANT: You are not logged in.

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Asset Protection 101: Overview for Nomads

The Asset Protection 101: Overview for Nomads class will be posted here once it is taught and recorded. It is scheduled to be taught in October, 2017.

See the Nomad Class Schedule for more information on upcoming classes in the meantime.

More info about this task...
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 Protection Classes

More info about this task...
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 Protection Classes

Improvements

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

Sponsor Content

There is additional content on this page that is shown to Sponsors only.

Sponsors are usually Real Estate Agents and Lenders who'd like to work with Nomads in their local market.

Click here for more information on how to become a Sponsor.

IMPORTANT: You are not logged in.

New? Create a FREE account

Analyzing Deals 301: Multi-Family for Nomads

The Analyzing Deals 301: Multi-Family for Nomads class will be posted here once we’ve recorded it. It is scheduled to be taught in September, 2017.

See the Nomad Class Schedule for more information on upcoming classes in the meantime.

More info about this task...
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 Deals Cash Flow Classes Net Operating Income Return On Investment

More info about this task...
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 Deals Cash Flow Classes Making Offers

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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 Deals Cash Flow Classes Get Your First Deal Done Nomad Basics

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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 Deals Capital Expenses Classes

More info about this task...
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 Deals Cash Flow Classes Lease Option Net Operating Income Return On Investment Tenant Buyers

More info about this task...
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 Deals Classes Multi-Family Net Operating Income

Improvements

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

Sponsor Content

There is additional content on this page that is shown to Sponsors only.

Sponsors are usually Real Estate Agents and Lenders who'd like to work with Nomads in their local market.

Click here for more information on how to become a Sponsor.

IMPORTANT: You are not logged in.

New? Create a FREE account

Emergency Plan Workshop

The following is the outline and additional resources of the class on Emergency Plan Workshop.

This class discusses what you should be doing now so that should something unexpected happen to you (accident or death), you have an emergency plan in place for a smooth, easy transition for those you love.

Here's the video recording of the class followed by some related checklist tasks related to implementing an Emergency Plan of your own:

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