The following is the Nomad Investor Club class schedule. Attending the live class via webinar is free (click on the link to RSVP), but watching previously recorded classes requires a Premium Nomad membership.
IMPORTANT: Class dates and times are subject to change without notice.
Nomad with Lease Option Exit Overview
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.
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.
Once you have your ads running and tenants are calling, you’ll need to screen potential tenants to find someone who is qualified enough to “borrow” a several hundred-thousand-dollar asset from you by renting your property. As Nomads we take this process very seriously and have very detailed processes and systems for screening tenants legally and thoroughly. This class covers this process in detail including modifiable evaluation checklists to make your life easier and keep you out of legal trouble with fair housing laws.
Mock Tenant Screening
“Tell me, and I will forget. Show me, and I may remember. Involve me, and I will understand." - Confucius, circa 450 BC
It is one thing to hear me explain how to screen tenants in the Tenant Screening class, but something else entirely when you have an application in front of you and you need to evaluate the tenants on your own. So, we give you some sample tenant applications and allow you to work through the process on your own. Then we go over them in detail so you can see how we think about them together. This is a hands-on workshop that will make you much better at screening tenants.
Tenant Buyer Sales and Marketing
This is a special class that peers inside the mind of tenant buyers. If you plan to use lease options with your Nomad model, this is a critical class for understanding strategies for finding tenant buyers, talking to tenant buyers on the phone and in person and understanding tenant buyer psychology. It is an advanced class, going beyond just normal tenant screening, focused on dealing with tenant buyers who are going to be renting your property with the intention of buying it from you.
The $5,000 Lease Demystified
Since 2000 my clients and other local real estate investors have asked me repeatedly to share my lease with them. It was a lease I personally purchased from an expensive real estate course and then modified to fit my personal business. As you could probably understand, I did not feel comfortable sharing it with others. In 2016, after being worn down by clients and other local investors, Brian, Tammy and I decided that we would take the lease and submit it to our attorney with a laundry list of changes we wanted to see, and then make it available to my local Nomad and investor clients for free. We do still insist that each person using it have it reviewed by their own attorney before using it themselves. Between the initial course purchase and the attorney fees to have the modifications made this is my $5,000 lease which I will go over with you in detail during this class.
IMPORTANT: Attending this class live or buying access to the video recording of this class does NOT include a copy of my $5,000 lease. I give away this lease to clients once they've bought or sold a home with me or clients that have bought or sold a home with a real estate agent in another market where I have been paid a referral fee for referring them to work with that real estate agent.
Property Management Mastery
Once you've placed a tenant in your property, you must remain diligent and manage the property. In this class we will walk you through the process to prepare your property for a tenant moving in. We will also cover the best practices for move-in and move-out with the tenant or tenant buyer. Plus, we cover what happens the first week and first month after the tenant moves in. We discuss how frequently and what to do during property inspections while the tenant is living there. Then, we cover what happens the last 90 days of a tenant's lease including preparing to rent the property to another tenant, damage deposits and much more.
The Lease Option - The Lease Part II
In a previous class we've gone over my $5,000 lease, but what if you're wanting to do a lease option? This class covers the additional paperwork we use for lease options. You should have gone through the lease class and ideally one or more classes on the lease option strategy as a prerequisite for this class.
IMPORTANT: Attending this class live or buying access to the video recording of this class does NOT include a copy of my $5,000 lease or the option paperwork. I give away this lease and option paperwork to clients once they've bought or sold a home with me or clients that have bought or sold a home with a real estate agent in another market where I have been paid a referral fee for referring them to work with that real estate agent.
Solving Tenant Challenges
Despite our best laid plans and best efforts, not every renter will be the perfect tenant we hope and screen for. Challenges with rental properties happen. This class covers checklists and processes for dealing with tenant challenges like late rent, evictions, lease term violations and much more.