Skip to content
×
PRO
Pro Members Get Full Access!
Get off the sidelines and take action in real estate investing with BiggerPockets Pro. Our comprehensive suite of tools and resources minimize mistakes, support informed decisions, and propel you to success.
Advanced networking features
Market and Deal Finder tools
Property analysis calculators
Landlord Command Center
$0
TODAY
$69.00/month when billed monthly.
$32.50/month when billed annually.
7 day free trial. Cancel anytime
Already a Pro Member? Sign in here
Pick markets, find deals, analyze and manage properties. Try BiggerPockets PRO.
x
All Forum Categories
All Forum Categories
Followed Discussions
Followed Categories
Followed People
Followed Locations
Market News & Data
General Info
Real Estate Strategies
Landlording & Rental Properties
Real Estate Professionals
Financial, Tax, & Legal
Real Estate Classifieds
Reviews & Feedback

All Forum Posts by: Bevan Daniels

Bevan Daniels has started 3 posts and replied 5 times.

Post: Creating Wealth with guilt

Bevan DanielsPosted
  • Seattle, WA
  • Posts 5
  • Votes 5

This piece is a meditation on the guilt associated with wealth accumulation, specifically the personal longing to achieve it.

Ever since I remember, I have been told and guided by friends, family and passers by not to focus so much on creating wealth and finances as it is not “good for my psyche” accompanied by the “I’m missing out on life” speech. Yes; this is all done in the best of intentions but has caused great imbalance in my own life as you are continuously told through many modalities to follow your passion or to find your WHY (just as long as this is not wealth creation). It was not until recently when it all clicked. I took multiple steps back to zoom out and realize the actual problem is within the framing of the passion and not the passion itself.

Take an Olympic runner for instance and compare this to someone (me) wanting to create substantial wealth. You ask the runner to go out for drinks with you and two friends they have not met before. The runner says, “No thanks, I am focused on my nutrition and have to be up at 5am to train”. Wow, what discipline and dedication. No judgement there and complete appreciation for what that person wants to achieve.

Turn this around, and I am being asked to go for drinks with the same group of people. I say, “No thanks, I am going to save my money and have to be up at 5am tomorrow to go for a morning walk, while listening to a finance podcast in order to learn how to best invest that money I just saved.” WHAT, you are crazy, you need to relax, life is short, YOLO and on and on…

5 years later, the runner is on top of the podium (#1) with the world cheering. They win $1 Mil and everyone is ecstatic and proud. The years of dedication paid off and the prize money is well deserved. No guilt to start a non-profit, no judgment; o wait, here is more: endorsements of clothing, cars and sponsorship. It is all for the runner to keep…

5 years later, I am a multi-millionaire (I wish). I won my own life race and able to do what I want when I want. First thing I do, buy a luxury car (because why not). I drive to friends showing them what I bought, how proud they would be, cheering me on as if I was on the top of the podium, right? Right? Isn’t that what’s happening? Unfortunately, it is far from the truth. Now you are seen as “full of it” as if you are rubbing it in and the only way to show remorse for your winnings and incredible sacrifices you made your whole life, is to dedicate as much as you can to philanthropy in order to be accepted back into the cultural norms.

I find this imbalance of morality vs what success “should” looks like struggle to comprehend. Why can the answer to the question, “why do you want to be wealthy” not just be: “because I want to be in the top 1% of achievers”. Instead we soften the answer with phrases like: “I want to change the world, I want to help others, I want to quit my job and spend time with my family”. Don’t get me wrong, these are all very valid reasons and incredibly powerful goals. I just personally feel that we should not judge those whom simply answer, “because I want to be the best”.

Concluding these thoughts, I will no longer apologize or feel guilty that my passion is to become wealthy. Ask me now as to why, and my answer is simple: “WHY NOT”

@Miguel Castillo thank you for the feedback. I would really appreciate a connection

I live in Seattle and my lease is up 31 Oct 2021. I would have saved enough for a 20% down payment by then and as rents are extensive in my area, I am better off with a mortgage.

I need advice on a timeline for preparing to purchase, especially what I need to think about now already to set this up.

1. I have already spoken to a bank to get mortgage pre-approval advice and will lodge this in Aug.

2. When do I need to start talking to agents and providing my requirements:

A. I am looking between Seattle Central down to Federal way area

B. First choice, 3 bedroom 2 bath single family and second choice, 2 bedroom 2/1 bath condo.

C. I will be living in the property for a year, fix it up before renting it out and moving on to the next property purchase.

D. Budget would be under $220k

E. Close to public transport preferred

3. How long does it normally take from offer acceptance to closing with a pre approved mortgage?

Is there anything I’m not thinking of that will eat up into my timeline. I’m thinking of actively going out and making offers in September and would definitely need a real estate agent to guide me through that process. Any help here would be amazing.

Post: New to USA and Seattle

Bevan DanielsPosted
  • Seattle, WA
  • Posts 5
  • Votes 5

Hi Michael, thanks for the feedback. I’m looking at 20% down payment and then owner occupy for about 6 months to a year to save up another down payment for the next property. I will only rent out the house after I move out. 

The 200k is the total budget for the property price.

Post: New to USA and Seattle

Bevan DanielsPosted
  • Seattle, WA
  • Posts 5
  • Votes 5

I am new to the USA and looking to buy my first house to buy, repair, hold and rent out. I’m currently renting in Seattle close to my work, however as we now work from home it has opened opportunity for living anywhere in Washington. Question here is where to start looking so I can pin down a real estate agent for a particular area and market. Any advise would be great.

I’m looking to get in under 200k including restorations if any.