Nomad REI Podcast: NCREIG 2018 How to do Nomad without Moving In
In this episode of the Nomad Real Estate Investing Podcast we add a few new "flavors" to the different Nomad strategies. Originally, the Nomad strategy of investing in real estate was this:
- Buy a property as an owner occupant and live there for a year
- After 1 year, buy a 2nd property as an owner occupant and move in
- Convert the previous property to a rental
- Repeat the process until you own 10 or so properties
Since then we have added several variations of Nomad including Catch Up Nomad, Young Nomad, Little Down Nomad, College Nomad, and Legacy Nomad. Now, we have added two more which are:
- Flush Nomad: Has enough for 15%-20% down payment and does not need owner occupant financing
- Creative Nomad: Is willing to use creative financing (Owner financing, WRAP financing, Lease Option, etc) to acquire properties.
With these new strategies we have eliminated the need to move into the properties (one of the biggest complaints we've received from potential Nomads) while still acquiring multiple rental properties over the course of 5 to 10 years.
You can listen to it by using the link below.
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