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All Forum Posts by: Daniel Umstead

Daniel Umstead has started 4 posts and replied 102 times.

@Taylor L. Yes indeed!

Originally posted by @Taylor L.:

"...knew that there were possibilities out there."

"Passive income" doesn't mean "free income with no work." Always remember, There Is No Such Thing As A Free Lunch (TINSTAAFL). Passive investors in syndications don't need to do anything to earn income, but they do need to go make the money in the first place.

I like the, "There is no such thing as a free lunch" I even have to check myself on this when I say to my coworkers in regards to where is our free lunch, they used to give out free lunches at my job and then reading this, it's like Hey! Did you earn a free lunch? And above all, this isn't your company and would you offer a free lunch to yourself?  Making money in 2020 and free lunches!  

Post: New to BP and Househacking

Daniel UmsteadPosted
  • Realtor
  • Philadelphia, PA
  • Posts 107
  • Votes 69

Hey Erik, I would recommend also listening to the podcasts about house hacking by @David Greene and @Brandon Turner, they provide a lot of info and the recent ones give you step by step as far as how to start out along with doing research on your own.  Good luck to you and feel free to connect!

Post: Hello, this is my first post :)

Daniel UmsteadPosted
  • Realtor
  • Philadelphia, PA
  • Posts 107
  • Votes 69

Welcome Michael and I am actually looking to do the same by next year as far as owning a multi unit and moving in and being responsible for the upkeep and then sell after a year, good luck to you!  Feel free to connect!

Post: What Was Your Worst REI Blunder of 2019?

Daniel UmsteadPosted
  • Realtor
  • Philadelphia, PA
  • Posts 107
  • Votes 69

Not leveraging my contacts properly.  I had my 1st wholesale deal ready and I made the mistake of letting the woman know that I couldn't get $1k for an earned money deposit and instead of asking how to get around it, I just let it go and the woman sold the home and I would have had $6k from my first deal.  But I am networking more and taking advantage of all connects that I make with everybody. 

Post: Newbie from central ny (penn yan)

Daniel UmsteadPosted
  • Realtor
  • Philadelphia, PA
  • Posts 107
  • Votes 69

@Joe Khan Thanks so much for this

Post: Newbie from central ny (penn yan)

Daniel UmsteadPosted
  • Realtor
  • Philadelphia, PA
  • Posts 107
  • Votes 69

@Brent Hoover I'll look into it, but thank you for sharing, greatly appreciate the info

Post: Newbie from central ny (penn yan)

Daniel UmsteadPosted
  • Realtor
  • Philadelphia, PA
  • Posts 107
  • Votes 69

@Brent Hoover Is there a minimum number of years you have to be in there

Post: Finally got my first offer accepted

Daniel UmsteadPosted
  • Realtor
  • Philadelphia, PA
  • Posts 107
  • Votes 69

Thanks @Mark F. for sharing and I side with @Jerrett Wilson, the information provided was very helpful, thanks for going over your obstacles.  I think everybody's situation is different of course depending upon location, location, location, lol.  But greatly appreciate the info and Good luck on your next offer to come!

Post: Buying in College Towns

Daniel UmsteadPosted
  • Realtor
  • Philadelphia, PA
  • Posts 107
  • Votes 69
Originally posted by @Spencer Goldenberg:

@Daniel Umstead thanks for sharing the site (it looks awesome) and congrats on being newly licensed. Good luck to you as well! If you ever want to look at the Midwest - make sure to reach out. Omaha is a great market. 

 Definitely will! Thanks for connecting with me!