Expected Value

Expected Value is a mathematical term used in probability and statistics to determine what a typical value might be. For a more detailed definition and discussion, check out wikipedia’s article. Here’s how I use it with the Real Estate Financial Planner™ software to model my own real estate investments. First, I model my entire real estate investing strategy by entering it in the software. See the How to Create a Real Estate Financial Plan™ post to get a good tutorial on how to enter in your own real estate investing strategy. When I do my modeling I do include things … Read more

Interest Rate Buy Down Spreadsheet

Interest Rate Buy Down Spreadsheet

Trying to figure out whether you should buy down your interest rate? Use Brian and Brendon’s spreadsheet to quickly and easily do the math for making your decision. This is the latest version, version 3.01, for classes in 2020 and later. It now includes a special spreadsheet from Brendon on how to do an entire Portfolio Optimization for Refinances as well (sheet 3 of the spreadsheet). Download Version 3.01 of Interest Rate Buy Down Spreadsheet Previous Spreadsheet Versions The following is version 2 for classes prior to 2020. Download Version 2.0 of Interest Rate Buy Down Spreadsheet Classes On Buying … Read more

Live Real Estate Deal Analysis

Hello, savvy real estate investors! Are you ready to turn the complex world of rental property analysis into a walk in the park? Well, buckle up because today, we’re diving deep into the heart of one of the most powerful tools in your arsenal – The World’s Greatest Real Estate Deal Analysis Spreadsheet™. Whether you’re a seasoned pro or just starting out, this guide will illuminate the path to making informed, profitable investment decisions. Why You Need a Deal Analysis Spreadsheet Download a free copy of the latest, new and improved version of The World’s Greatest Real Estate Deal Analysis … Read more

How to Minimize Your Monthly Payment with Your Lender

This evening I was preparing for my Cash Flow Explosion presentation on how to improve cash flow on your rental properties for our local investor club. The Cash Flow Explosion presentation is pretty much the same presentation that I gave to Nomads a month or so ago called How to Improve Rental Property Cash Flow. At the start of that presentation I talk about the importance of using the Lowest Monthly Payment Guarantee Checklist as a starting point for making sure you’re maximizing your cash flow on your rental properties. So, I decided to also share with you the section … Read more

First Meeting with Buyers FAQs

What do you typically discuss at the first meeting with a buyer? At the first meeting with a buyer, I usually go over the following: Agency Documents: Definitions of Working Relationships Exclusive Right-To-Buy Listing Contract Professional Services Provided Your Real Estate Goals Financing Receiving Property Lists Analyzing Deals Writing Offers Of course, I don’t go into crazy level of detail for each of those steps. The initial meeting is more to give people an overview of the process and to provide them with some additional resources. How long does the first meeting with a buyer take? The first meeting with … Read more

Builder Walkthrough FAQs

Do you usually test for radon during the builder walkthrough? No. If you’re testing for radon on a new construction property, this is often done independently of the builder walkthrough. Why? Because typically radon tests happen over several days. The person doing the radon test will set it up and then come back several days later to pick up the test and record the measurements. Because it takes several days, we do not usually do radon testing during the builder walkthrough itself. Do you usually test each electrical outlet at the builder walkthrough? Some people will bring an electrical tester … Read more

Real Estate is the “IDEAL” Model for Investing

I talk to a lot of Nomads as well as real estate agents and lenders that work with Nomads. Most of the people I talk to believe real estate is an awesome investment–and it is. Some talk about how great it is that you can cash flow or that property appreciates. Few people remember the easy little trick for recalling the 5 primary benefit areas of rental real estate. Here’s the trick. IDEAL Real estate is often called the IDEAL investment because IDEAL can be an acronym describing the benefits of buying investment real estate (like we do with Nomad). … Read more

Dan Kennedy for Real Estate Agents

The following is a list of Dan Kennedy resources that have sections related to real estate agents and brokers. I complied it by purchasing each book on Kindle and searching the book for “Real Estate” and “Real Estate Agent”. I actually already owned most of them but I did need to re-buy some of them that I owned in paperback on kindle. I hope it helps and if you know of any other resources (including courses) by Dan Kennedy that have info specifically related to real estate agents, please do let me know by commenting below and I will add … Read more

Lease

At the end of June, 2020 I received the updated version of the Lease with some changes the attorney made to them. The latest version of the lease can be downloaded here: IMPORTANT NOTE: We are providing you these documents as examples for entertainment purposes only and you MUST have them reviewed and approved by your own attorney before using them yourself and in your own business. By using them you agree to hold us harmless. Seriously, don’t use this stuff without having your attorney review and approve them. Download Lease as PDF Download Lease editable in MS Word However, … Read more

Warren Buffett Talks About Buying “A Couple Hundred Thousand Single Family Homes”

When one of the richest men in the world decides to recommend buying single family homes with 30 year fixed rate financing, Nomads would be smart to listen (you can watch the video clip below). Warren Buffett, during a television interview with CNBC, talks about how he’d buy a couple hundred thousand single family homes if he could figure out the property management. He says, “he’d load up on them.” For Nomads, we’re not recommending you buy a couple hundred thousand single family homes… but you’re probably not Warren Buffett. Instead, we’re suggesting maybe you buy 1 and see how … Read more