What do most real estate investors truly want?
Why do they come to BiggerPockets?
It’s a simple question, but an important one. You see, based on the answers to this question, we here at BiggerPockets can create tools, networking, and education that help our users best.
My mission is simple: to help you achieve your goals through real estate investing. So, I wanted to find out, truly, what investors today want. To discover that, I turned to a survey.
Let me explain.
Each week for the past three years, I’ve run a live webinar here on BiggerPockets, teaching a variety of topics, such as:
And many, many more.
(Want to see all the past webinars? Check out the Pro Replay room. BiggerPockets Pro members have unlimited access to all previous webinar replays. Not a Pro member? Sign up now and enjoy over 50 hours of replays!)
Now, when someone registered for a webinar, I sent a super simple email that asked registrants to take a quick survey. The goal of the survey was simple: to find out what webinar registrants wanted to do, learn, and be. This way, I could craft the best webinar ever.
So, after several years of giving out this survey, I’ve received a LOT of responses—as in, 25,000 of them. From people just like you.
And as I talked with Josh Dorkin (CEO of BiggerPockets) the other day, we realized that others would probably like to see this data as well! So, without further ado, I give you: what 25,000 BiggerPockets members say they want from real estate investing.
Related: What Sets Apart Successful Real Estate Investors From Those Who Fail, Quit, or Never Get Started?
Rentals, Flips, Wholesaling—or Something Else?
The first question I asked was simple:
What kind of investing are you most interested in?
I gave out six possible options, in which respondents could pick one OR multiple choices:
- House Flipping
- Rental Properties
- Notes/Paper/Tax Liens
So, what did most people choose?
- Rental properties win, with nearly 80% of our survey-takers telling us they are highly interested in owning rental properties.
- Coming up in second place was house flipping, with 54.6% of people looking to fix and flip their way to financial freedom.
- Third place went to wholesaling, followed by a near tie for fourth place between commercial and notes (both around 18%) and “other” rounding out the bottom at 4.3%.
Of course, some people are looking at that graph saying, “Hey, that adds up to more than 100%!” But remember, people had the ability to choose more than one option, even though the question said “most interest in.” Apparently some people had a hard time picking just one!
OK, let’s get to question #2.
Other Than Your Own Home, Home Many Real Estate Deals Have You Done?
BiggerPockets is a GREAT place to learn how to take the first steps on your real estate journey. And it’s also a great place to hone your skills and take your investing to new heights. Really, it’s perfect for pretty much everyone.
But I wanted to know just what percentage of webinar registrants are new to real estate and which are experienced. So I asked the question:
Other than your own home, how many real estate deals have you done?
- According to the survey, a whopping 56.1% of folks who took the survey were complete newbies—never having done a single deal.
- Another 12.9% had done just one deal.
- In third place was those who had done 2-5 deals, with 19.8% of surveyed people choosing that option.
- Finally, 8% had done 6-20, and 3% had done 21 or more deals.
While the number of “newbies” was certainly high, I actually love to see newbies come to these weekly webinars, where I try to always “keep the cookies on the bottom shelf.”
How Important is Quitting Your Job?
Finally, I asked about financial freedom and the desire to quit one’s job. And I have to admit, I was surprised at the results.
You see, I got into real estate for one primary reason: to leave my job. I hated my job and wanted desperately to quit. But I didn’t know to what extent that extreme desire to quit extended to others.
Now I do, because survey says:
Related: BiggerPockets Survey: How Do Real Estate Investors File Their Taxes?
Of the nearly 25,000 responses:
- 10,000 people rated the desire to leave their job as a “5” on a scale of 1 to 5—41% of those surveyed!
- Another 18.7% gave it a 4.
- And 20.1% gave it a 3.
- Rounding out the bottom, 9.4% answered “2,”
- and 10.9% answered “1.”
So, clearly not everyone wants to leave their job, but the largest percentage of people definitely want to.
What Do You Think?
So, what do you think? Are you surprised by any of these results? How close is it to what you think?
Leave your thoughts in the comments below!