The Impact of Just $25 More in Rent on Rental Properties

I'm guilty of it too. I am a busy real estate agent and investor who has limited time to focus on everything. I tend to poo poo away the small expenses and small sources of income. I convince myself, paying an extra $25 here or there won't make that much of a difference. Or, why bother tweaking and improving an area of my businesses that will save me tens of dollars when I could focus on doing another deal and make tens of thousands or more. Maybe, you are like me and the phrase, "stepping over dollars to pick up dimes" echoes incessantly through your head as well.

Well, if you've ever had thoughts like mine or wondered if the small stuff matters as a real estate investor, this book is for you.

I've spent most of my professional career analyzing properties. As often for myself as I have for clients and in marketing to find new clients. I can honestly say, I have analyzed more deals than most people will ever analyze in their lifetime. I say this not because I am perfect at deal analysis; I am not. In fact, what I've learned from analyzing thousands upon thousands of deals is that I still have a lot to learn. Real estate deal analysis is subtle and nuanced and complicated. And if analyzing an individual deal wasn't challenging enough, analyzing a group of real estate deals as part of a real estate portfolio is almost unheard of, but more important than most people would imagine.

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Your Third Nomad Property

In Your First Nomad Property we discuss the idea of buying a property as an owner-occupant, living there for a year (or more) and then converting your property to a rental when you buy your next property to live in. That’s the simplest version of the Nomad investing strategy.

Your First Nomad Property covers the basics of the plan and the tips and resources we provide on how to buy your first property with the idea of Nomading in mind.

Then, in Your Second Nomad Property we assume you own your first property already. We demonstrate what stopping at one property looks like for your net worth and cash flow (spoiler: you don’t get any cash flow without a converting the property to a rental). We also discuss how your net worth and cash flow changes if you just move once as a Nomad by buying a new owner-occupant property and keeping the property you’re moving out of as a rental.

We also show you the difference between stopping at your second Nomad property and continuing on to acquire ten rental properties as a Nomad. In case you could not guess: the difference between two and ten is significant.

Finally, in Your Second Nomad Property, we also share with you some of the resources we provide for converting your first property to a rental, marketing to find tenants, and screening tenants.

Now, in Your Third Nomad Property, we will share with you what having just two rentals and the property you’re living in looks like in terms of a number of metrics including your net worth and cash flow. That is what the plan looks like if you stop here. Then, we will remind you how amazing doing the full Nomad looks like if you decide to continue along the Nomad path.

Plus, in Your Third Nomad Property, we will go over the resources we have for you for when a tenant moves out and you need to replace them with a new tenant.

I think you’ll find Your Third Nomad Property an excellent resource for Nomads looking at their third Nomad property. Let’s begin our journey together.

Fewer Clients, More Money

Discover your opportunity for a better life in the real estate business...

  • Stop worrying about where your next sale is coming from
  • Stop cutting your commission
  • Stop holding open houses
  • Stop prospecting
  • Stop wasting time with pretend buyers
  • Lock in consistent, predictable streams of commission checks
  • Start serving clients at a higher level
  • Take back control over your clients, your time, and enjoy life
  • Be the envy of every other real estate agent in your market

Dear Fellow Real Estate Professional,

Below, I'll show you exactly how you can have the same system that I built—after investing thousands of dollars and thousands of hours in trial and error—set up and put to work for you, done for you, to dramatically change your immediate commission income and future banked commission income (and the way that you make it) for the better.

2012-06-28-19-59-48My name is James Orr. I am a 41-year-old REALTOR® in Northern Colorado. I have two college age sons, a wife and a dog that I love to spend time with (photo to the right). As a real estate broker, I own a three-and-a-quarter person real estate brokerage called James Orr Real Estate Services LLC. It is not what anyone would ever consider a traditional real estate office. My company is just me and my wife plus two assistants—one full time and one that does a handful of hours a week. However, you don't need a spouse working with you or assistants to do what I do.

When I first got into real estate, I experienced the traditional feast and famine cycles that many sales professionals suffer through. I studied and tried just about every real estate book, course, and seminar out there searching for a solution. Maybe you've studied some of the same material by Tom Hopkins, Brian Tracy, Craig Proctor, Brian Buffini, Ninja Selling, Chet Holmes, Jay Abraham, Dan Kennedy, Mike Ferry, Tony Robbins, and many more. Sure, each one taught me something, but it wasn't until mid-2015 that I discovered the strategy that helped my sales almost double (commission checks as proof below).

Now, I have traded in chasing down clients like a madman herding cats and the self-inflicted torture of prospecting, to serving clients at such a high level that they seek me out in order to work with me. I spend most of my time on my passion of creating tools, writing, and teaching classes. I probably spend 2 or 3 days a week actually brokering properties for clients. While I still show houses, it is almost exclusively to serious buyers that either have bought, or are planning to buy, multiple homes from me. I rarely list homes, except for clients I'm especially fond of and usually only after they've convinced me they shouldn't keep the property as a rental. My clients are almost exclusively actively working on acquiring multi-million dollar real estate portfolios and I now consider many of them my best friends—how bad is it to help 50 or more friends become multi-millionaires with tons of free time to travel and enjoy life as clients? I don't have to answer every call at inconvenient times or instantly return voicemails for fear a client will call another real estate agent they know.

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