All Forum Posts by: Daniel Umstead

Right, thanks for the feedback! A default is a major red flag. My main concern is verifying the expenses to income ratio, and confirming how much the student loans cost the holder on a regular basis. That is not reflected on the report that I received from Zillow, unfortunately.

References might be beneficial as well from past landlords

1 Vote

Raleigh, North Carolina

Quote from @Jared Hottle:

Keep checking MLS and also Loopnet and Crexi for on market deals. Typically you do not see a ton of foreclosure multifamily also looking off market may be a good idea. Call For rent signs, use the tax assessor website to look up addresses and get in contact with owners of multifamily in your area.

100% agreed, I am connected with another multifamily investor who said he was able to find a deal on Loopnet, a lot of people might say oh no deals aren't there and are overlooked but it's about making the numbers work and doing full due diligence.

1 Vote

Tampa, Florida

Hi Brandon,

Being on the other side as a student loan recipient, the biggest disqualifier that comes up is if they defaulted on their loans. I currently am not as high as $100k in student debt, but a good amount. I have been current on my student loans but I have been told that if I ever defaulted on them that it would be a huge credit risk, hope this helps.

Best,
Daniel

1 Vote

Raleigh, North Carolina

What is the expected timeframe of those individuals who have needed to get the insulation done while the tenant is still living there? Day job? Or two days?

1 Vote

Upstate New York, New York

I am 10000% agreement with @Nathan Gesner your best bet to really get to know your mix is really attending them all and take advantage of the virtual ones as well, don't feel that all of them need to be face to face. Good luck to you!

1 Vote

Houston, Texas

Quote from @Eric Drum:

Great question Daniel! I honestly struggle with the same issue. A couple of bullet points on items that I personally have been working on that seem to help.

-Bigger Pockets 90 day intentional journal- Honestly not a plug for Brandon T. (who is obviously awesome!) and you could really replicate the book. But what I love is the general framework of planning and writing down your week and breaking it into daily tasks. In addition the importance of an accountability partner.

-Creating time for habits- Monday night- My wife helps put down the kids, Wednesday morning instead of working out I focus on REI, and Sunday early morning I focus on REI. This is the specific time I really knock out prospecting and building the business.

-I would highly suggest you read the book "Miracle Morning" if you haven't already.

-Focus on building a team. Personally this is the step that I'm working on right now. Like you I have realized my time is rather limited and I am realizing that I'm not able to make a big enough impact if I'm doing the work by myself. I really like the book "Who not How" that has changed my mindset on some of this.

Good luck! The challenge is certainly a tough one and one that takes a ton of focus on dedication to turn it into a habit.

Gem after Gem after Gem.....thanks so much Eric!

I just got the copy of Miracle Morning and Who Not How, I started reading Limitless by Jim Kwik, will definitely check out The 90 Day Journal as well.

This is extremely helpful in more ways than one and I just joined a small mastermind that focuses on multifamily and one of the investors has me scheduled on a check-in/accountability call weekly.

Again, thanks so much for the tips!

0 Votes

Philadelphia, Pennsylvania

Quote from @Brighton Kondor:

Hey @Daniel Umstead, I feel like I could be a tremendous asset to you. Check PM for information.

Hi Brighton,

I just responded, looking forward to staying connected.

0 Votes

Philadelphia, Pennsylvania

Afternoon Ladies and Gents,

Hope everyone is doing amazing, I wanted to ask about time for searching for off market deals. I have the steps, I have the tools, I know what needs to be done in regards to looking for off market deals but by the time I look up at the clock whether it be for work, after work, family time, I am like oh goodness, time has beat me again and I need to block off time. But everytime I try to come up with the best schedule in the world, that thing called life gets in the way.

What are your best methods for tracking off market deals?

What are your strategies for blocking off time for RE investing?

Thoughts, suggestions, tips, all are welcome. Have a great day everyone!

1 Vote

Philadelphia, Pennsylvania

People continuously ask on these posts if Ohio is growing, are they expanding, is it a good place to look at market trends?

Yes!

And Yes!

I came across this article on Bisnow and talked about how Amazon and a few other major players are opening up campus centers and expanding. A quick way to know if your market is doing well is to see what is growing in the area? What are the jobs like or in this case, what will they be like?

The biggest piece of advice is mainly connecting of those who are in the area. Good luck to you in your search for your next deal and I hope that the address includes OH somewhere in the address.

"Amazon, Lincoln Property Co. Plan New Data Center Projects In Emerging Columbus Market"
https://tinyurl.com/3ppn9x98

3 Votes

Quote from @William Rodriguez:

Hi,

I'm an RE investor in the Orlando area, currently own 2 single family and a condo and now looking to purchase my 1st multifamily. I've had a hard time finding deals by looking at the new listings on the market from my realtor daily report. Do you have recommendations on productive resources and/or strategies to find multifamily deals in the Orlando/Surrounding areas.

My max purchase price is 450K.

Future congrats on your journey to your first property, I am part of a weekly meetup. I know Tampa is a bit far, but using myself as an example, they don't care where folks are at from the group and I believe there are a couple of folks who have been on the call near Orlando. In addition, I would recommend checking out local REIAs in the area as well.

Multi family/ Commercial Real Estate meet up(virtual), Wed, May 4, 2022, 10:00 AM | Meetup

2 Votes

Orlando, Florida

All Forum Posts by: Daniel Umstead

Daniel Umstead has started 4 posts and replied 102 times.

Post: How do I evaluate student loans on a tenant application?

Post: "NEW Member" First Time Investor With Multifamily

Post: How do I evaluate student loans on a tenant application?

Post: Tenant noise - considering adding insulation in interior walls

Post: Which RE networking event to attend in Houston?

Post: It's the time for me, when do you search for off market deals?

Post: It's the time for me, when do you search for off market deals?

Post: It's the time for me, when do you search for off market deals?

Post: Emerging Columbus Market....

Post: My First Multifamily in Central Florida