How to Acquire a Multi-Million Dollar Real Estate Portfolio with Just $3,000

On October 20th, 2016 in Fort Collins I taught a special class called, How to Acquire a Multi-Million Dollar Real Estate Portfolio with Just $3,000 (video recording of the live presentation below).

In this class I go through 157 Power Point slides walking you through the exact model to use to start with a single down payment of $3,000 and use that to buy your first property using the Nomad investing strategy. Once you have that property, you can use that property and the tenant buyer moving into that property to create your next down payment to purchase your second property. You can continue to use this strategy to buy additional properties until you have a multi-million dollar portfolio of rental properties.

I walk you through–in significant detail–the cash flow, depreciation (tax benefits), appreciation and debt paydown on each property and on all the properties as a whole. We discuss the exact mechanics of making this model work including discussing the types of loans to use and how much you’d need to earn from your job to qualify for these loans.

I also walk you through the exact type of properties we’re using to implement this model and where to find them.

At the end, I take questions from the class live to address any areas that were not clear.

More Recent Recording

And, I have since taught this same class again on October 24, 2017. The recording of that is below.

Lease Option Resources

To learn more about Nomad and Lease-Option strategies, consider checking out the following tasks related to doing Lease-Options.

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More info about this task...
If you're going to allow your Tenant-Buyer to select any property from the MLS where you'd buy it and then offer it to them on a Lease Option, then setup your search page on JamesOrr.com.

Talk to James to have him show you this and get it set up for you.

Mark this task complete when it is setup or if you decide you're not doing this.

Analyzing DealsASAPFirst Meeting: Analyze DealsLease OptionMarketingOptionalTenant BuyersUltimate Nomad ChecklistWeek 2

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If you're going to allow your Tenant-Buyer to select any property from the MLS where you'd buy it and then offer it to them on a Lease Option, then after James sets up your search page on JamesOrr.com you will want to customize with your specific investing criteria.

Mark this task complete when you've customized your Lease Option Search Page on JamesOrr.com.

Analyzing DealsASAPFirst Meeting: Analyze DealsLease OptionMarketingOptionalTenant BuyersUltimate Nomad ChecklistWeek 2

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If you're going to allow your Tenant-Buyer to select any property from the MLS where you'd buy it and then offer it to them on a Lease-Option, then after James sets up your search page on JamesOrr.com you may want to purchase and setup a custom domain name for it.

The custom domain name will allow you to use that domain name on your marketing and have it URL frame the page James set up for you.

Ask James and he can usually get you a domain name and set it up for you for about $10 per year.

Mark this task complete when you've purchased a custom domain and had it set up for your Lease-Option Search Page on JamesOrr.com.

Analyzing DealsASAPFirst Meeting: Analyze DealsLease OptionMarketingOptionalTenant BuyersUltimate Nomad ChecklistWeek 2

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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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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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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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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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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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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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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 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 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

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

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

Mark this task complete when done.

LeaseLease OptionLease Signing and Lease ReviewTenant BuyersTenant ScreeningTenantsUltimate Nomad ChecklistWeek 60

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

Mark this task as complete when done.

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.

Mark this task as complete when done.

LeaseLease OptionLease Signing and Lease ReviewTenant BuyersTenant ScreeningTenantsUltimate Nomad ChecklistWeek 61

More info about this task...
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

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 DealsASAPCash FlowClassesLease OptionNet Operating IncomeReturn On InvestmentTenant BuyersUltimate Nomad ChecklistWeek 19

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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

More info about this task...
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

More info about this task...
Read the "Lease Option Ad for Property Listed in MLS for Clients" blog post on

https://LearnToBeRich.com/lease-option-ad-for-property-listed-in-mls-for-clients/

Mark this task as complete when you're done.

CraigsListFor LendersFor Real Estate AgentsLease OptionMarketingSponsors

Improvements

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

  • Consider teaching how to do this entire model without moving in using creative financing strategies.

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