BiggerPockets

I'm curious. We have hundreds of posters, thousands of posts and tons of questions posed on here.
It made me wonder today as I was posting some advice to questions I received. Does ANYONE ever take the advice? I'm serious. Most come to this board with our built-in preconceived methods. Cash is king. I want to wholesale. I want to rehab and flip. I only want sfrs. I want to buy only in ohio, and on and on and on.
My question is this. Has anyone on BP changed their methods, interests, or ideas due to replies here on BP? Everyone knows where I stand on most subjects, as well as some of the other posters stand. Do we ever change anyones' mind?
I think it would be interesting for BP posters to share their ideas when they started here, and if they've changed any of their core beliefs, methods or locations to play the real estate game. We might all learn something from those that have made changes, why and the results. What do you think?
I'll go first. I'm one of the older and more experienced posters on here. I've always felt I could be ahead of the curve on areas to boom and I've been lucky and good at it. I believe in free and clear as well as a second tier of highly leveraged properties for long term growth. I've changed my thinking in a couple areas somewhat.
1. I'll buy older properties for cash flow, irregardless of age or depreciable basis.( this has changed from only wanting newer properties for buy and hold)
2. I'll not be involved in the mgmt of these older properties at all. It is no longer worth my time and effort.

These aren't huge changes, but I guess even old dogs can learn new tricks. What about you? Any influences you've had on here that caused you to change something? What? Rich

Rich,

I have always bought short sales and sold them for profit. I did have the desire to look into buying a multifamily complex. But after doing MANY hours of research on BP, I decided that now was not the time. I read over many posts and threads and came to a very simple solution. I did not feel comfortable with the deal, so I must walk.

That is how BP has effected by business directly! I could never thank everyone that I have learned from on this site. But a BIG THANKS is sent out to all!

I truly believe that anyone could gain much knowledge from this site. And everyone should not only read and learn, but express their knowledge back.

James

I have gained tons of valuable knowledge and made many changes to my business model from reading and participating on the forum but I would have to say the most significant change would be the one to really become a student of long-term investment techniques instead of going after the "quick buck".

vote up for you Ty

Thanks Rich and Nick, you guys post have really been instrumental in me seeing the "light".

50% rule has become paramount in my search for long term investments properties ... bBP (before BP), I dramatically underestimated the costs of being a landlord.

I already had my strategy when I came here: a comfortable plodding-ahead thing kind of like an old six-banger Rambler.

Now I've rejetted the carb, ported and polished the heads, added a turbocharger and put on all-weather tires.

Since coming here I'm reaching my goals faster and more reliably, exploring new roads I didn't know existed, and thankfully avoiding some hidden potholes.

No way, Rich! I haven't had a ticket since 1979 and I'm keeping it that way!

From these posts, Josh should be thanked. There are numerous posters referring to BP helping them "tweak" their system used. It will probably continue changing with more time and more input. Rich

BP has helped me greatly expand on the things I was already doing. I dind't drastically change my entire methodology, just became more aggresive and self confident knowing that I could always turn to this site for advice if I felt I was getting in too deep or unsure of my decision making.

The biggest benefit I've had from being here is simply reading the forums. I don't do a lot of posting, however I ABSORB as much as I can from quietly taking it all in. Furthermore, I've networked with some excellent resources who have been a great help with deal making outside of the forums.