In 2016 I wrote a book How to Acquire a Multi-Million Dollar Real Estate Portfolio with just $3,000 based on a presentation I gave of the same name. In that book I walked folks through how to acquire a portfolio of rental properties using the Nomad real estate investing strategy with lease-options. The book and presentation came about when I taught a class on how to come up with down payments to do the Nomad investing strategy.
At the time I discovered how to do the entire model with a mere $3,000 I had only the original Nomad Calculator Classic for modeling the Nomad strategy. The Nomad Calculator Classic allowed me to model buying essentially the same property every year. I added additional functionality for using lease-options to write the presentation. The $3,000 Nomad model required that you move into 11 different properties as a Nomad over 11 years.
Nomads loved the model, but some prospective Nomads balked at moving 11 times. I've eaten at the same restaurant 6 days a week for going on 18 years and lived in my current home with my wife, Tammy, and my sons for 15 years. I am reluctant to change as well so I get it.
That's why How to Acquire a Multi-Million Dollar Investment Portfolio While Earning Just $5,000 Per Month is different.
For How to Acquire a Multi-Million Dollar Investment Portfolio While Earning Just $5,000 Per Month (and other more nuanced modeling of Nomad and related investing strategies) I invested, and continue to invest, heavily in the new Nomad Calculator 3.
Nomad Calculator 3 allows me to do modeling on investing strategies that was previously impossible. In How to Acquire a Multi-Million Dollar Investment Portfolio While Earning Just $5,000 Per Month you'll see a small fraction of what the new Nomad Calculator 3 can do, and I am adding new superpowers to it as I write this. You will see these new features as I release new blog posts on the official Nomad website on LearnToBeRich.com, presentations, podcasts and, ultimately, new books.
How to Acquire a Multi-Million Dollar Investment Portfolio While Earning Just $5,000 Per Month is a book that, as its name suggests, is about how to acquire a multi-million dollar investment portfolio while making $5,000 per month.
I will play Virgil, your guide throughout our journey together, and walk you through several different means of achieving the same end. I will also share strategies that don't quite hit our target of a multi-million dollar investment portfolio. I will include those for two reasons. First, to share with you some of the more common strategies for investing in real estate and the results they yield. And secondly, to be able to compare the results of those strategies to other strategies that do reach our stated target goal of a multi-million dollar investment portfolio.
Throughout this narrative you may hear me refer to a particular combination of accounts, houses, and rules as a strategy or, more frequently, as a scenario. Using the Nomad Calculator 3 we will model various scenarios to see how things could play out for you if you implement specific combinations of accounts, houses, and rules.
Here are the scenarios I will be covering, one per chapter with a comparative summary of all of them as a conclusion:Read More