I’ve broken this class up into 6 parts.
Topics discussed include:
- Part 1 of 6: Introduction
- What’s preventing you from achieving your real estate goals? For this class, I break it down into 5 major categories
- Coming up with Down Payments (including closing costs and reserves)
- Overcoming Negative Cash Flow
- Qualifying for Loans
- Finding What’s Missing
- Inner Game
- Many of these topics have been their own 2-hour classes by themselves (and I’m sure I’ll revisit them in the future)
- Riddle of the farmer, chicken, bag of grain and fox: sometimes the solution to your challenges are not linear or obvious
- Often times there is more than one solution/challenge
- Will these solutions work for me?
- Part 2 of 6: Down Payments
- Strategies to reduce the need for down payments and strategies to produce down payments, closing costs and reserves
- How to reduce the need for down payments
- No Down Payment Loans
- Creative Financing
- Sources of down payments
- “Investment Cards” (aka Credit Cards)
- Security Deposit
- Maintenance Reserves
- Property equity (sell, refi, pledge)
- Depreciation (and other delayed taxes/refunds)
- Retirement Account
- Family Members (Legacy Nomad™ or Nomad by Proxy™)
- Sell stuff you don’t need or want
- Saving
- Partnering
- Rents (including House Hacking)
- Lease-Option Fees
- Part 3 of 6: Negative Cash Flow
- Cash Flow = Income – Expenses
- Reduce expenses and produce more income
- Lowest Monthly Payment Guarantee™
- Maximum Cash Flow Guarantee™
- Strategies to Reduce Monthly Payments with Your Lender
- Strategies if You Own Other Property
- Strategies When Searching for Homes
- Strategies When Making Offers
- Strategies When You Own/Manage Properties
- Strategies to Maximize Income
- Part 4 of 6: Qualifying for Loans
- Overcoming Income Challenges (and Debt-To-Income) to Qualify for Loans
- Overcoming Credit Challenges to Qualify for Loans
- Overcoming Loan Spot Limitations for Getting Loans
- Part 5 of 6: Finding What You’re Missing
- Finding Deals
- Building a Dream Team to Support You
- Finding Partners
- Finding Tenants
- Part 6 of 6: Inner Game
- Making a Commitment to Being Successful
- Finding Courage to Follow Through on Your Commitment
- Building the Skills and Capabilities to Be Successful as a Real Estate Investor
- Overcoming Fear
- Plus much more
Classes Mentioned
In this presentation James mentions some other classes:
- How to Improve Cash Flow Workshop
- How to Get Down Payment – 2020 Edition
- Financial Mindset and Overcoming Fear – 2019 Edition
- Real Estate Investor Financing After Coronavirus
Note: I also call this class “Overcoming Obstacles for Real Estate Investors”. Same class… just me messing up the title (repeatedly).
