Starting to feel Disappointed

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Starting to feel Disappointed

Kenny Kuramoto
Member since 2022 · 69 posts · 20 votes

I've been reading for a few months now on biggerpockets and feel like the beginner posts are starting to be not informative.  Lots of people replying with consider my location here or my location is best I can help you. I feel like people are just selling themselves not giving actual advice.. am I wrong for this?

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Nathan GesnerBusiness Member
Moderator
Real Estate Broker · Cody, WY · Member since 2010 · 28k+ posts · 41k+ votes
4y
Quote from @Kenny Kuramoto:

I've been reading for a few months now on biggerpockets and feel like the beginner posts are starting to be not informative.  Lots of people replying with consider my location here or my location is best I can help you. I feel like people are just selling themselves not giving actual advice.. am I wrong for this?

I think the forums have changed. There's definitely an increase in short-term rental conversations. I'm being driven crazy by "mid-term rentals" which are really just month-to-month rentals. And there are a lot of sharks on here promoting their business to new investors.

As @Joe Villeneuve said, the internet is full of information. Not all of it is good, so you need to be careful who you are listening to. Do they have a lot of posts with at least as many votes? Are they giving away advice for free, or are they trying to sell you something? Is there information verifiable from another reliable source?

There are many "old timers" on here like Joe that will give you more advice than your brain can handle and they'll never try to sell you anything.

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  • Eric Michiels
    Flipper/Rehabber · Denver, CO · Member since 2020 · 43 posts · 36 votes
    4y

    Hi Kenny the reason most people recommend their location is because it's what they know. I invest in Atlanta and i know that market. I would not be able to give great advice on buying a property in Miami simply because I don't know Miami. That would be unwise.

    Hope that helps. 

    1Reply
  • Jaron WallingPro Member
    Rental Property Investor · Indianapolis, IN · Member since 2018 · 4k+ posts · 4k+ votes
    4y

    @Kenny Kuramoto So much constructive advice given here. 

    The best you can do is stay hyper LOCAL. If you want to invest and buy in SoCal focus on that. Follow discussions revolving around your market. As a mid west investor I don't read and use my TIME researching Florida. The numbers don't make any sense. The ARV's, rehab budgets, and strategies don't match what we're trying achieve.

    You can literally get a degree in REI from this website. it's quite obvious but the format of these forums steers you to newer/tending posts. Use the search bar and read older post (from your market). You'll find quality discussions about rentals, tenants disputes, evictions, or cash-for-keys from the experts in these forums.  

    2Reply
  • Aj Parikh
    Rental Property Investor · Centreville, VA · Member since 2019 · 1k+ posts · 799 votes
    4y

    Hi Kenny! Forums on bigger pockets are well monitored so you won't find a lot of people selling. Its important you spend a few more weeks on here to find out who can actually provide value to you versus who cannot. 

    What are the areas you are looking to learn? I am an out of state investor from Northern Virginia and invest primarily in Cleveland. If that is something you want to discuss or just learn about, feel free to reach out. 

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  • Jordan MoorheadBusiness Member
    Real Estate Agent · Austin, TX · Member since 2015 · 5k+ posts · 3k+ votes
    4y

    @Kenny Kuramoto check out some of the blogs on here too and the enormous amount of free educational content. The forums only go so deep and can only answer specific questions. Don't ask how to make money generally on here and expect a great answer. I recommend you put together a thesis and ask specific questions that you can have answered by those more experienced.

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  • Cody L.
    Rental Property Investor · San Diego, CA · Member since 2013 · 3k+ posts · 4k+ votes
    4y

    I'm almost glad this site wasn't around when I got started.  All I knew is I wanted to get started in multifamily.  So I looked to see what multifamily was out there.  Saw an 8 unit.  I had enough for the down payment so I bought it.  I fixed it up a bit, raised the rent, sold it, took the profiles and bought a bigger one.


    Fast forward and I have a lot of units

    I think if I started on here I'd have been obsessed with reading forums, podcasts, online calculators, etc.  Where as without that I had to just think "Hm, my debt is going to be $x, rent should be $y... yeah, this'll work" and that was that. 

    Don't over think it.  It's not that complicated.  There is one item that makes up 99% of your income (rent).  Then there are a small handful of items that make up most of your expenses.  Don't worry about hitting a home run on your first deal.  Just get something.  The first one is always the hardest. 

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  • Kenny Kuramoto
    OP
    Member since 2022 · 69 posts · 20 votes
    4y

    I get it. I get the info needed easily from the blog posts and videos. I'm just saying the replys are not as informative when people post on the starting out section. Please everyone understand this is just form observation I'm not attacking anyone. 

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  • Kenny Kuramoto
    OP
    Member since 2022 · 69 posts · 20 votes
    4y
    Quote from @Cody L.:

    I'm almost glad this site wasn't around when I got started.  All I knew is I wanted to get started in multifamily.  So I looked to see what multifamily was out there.  Saw an 8 unit.  I had enough for the down payment so I bought it.  I fixed it up a bit, raised the rent, sold it, took the profiles and bought a bigger one.


    Fast forward and I have a lot of units

    I think if I started on here I'd have been obsessed with reading forums, podcasts, online calculators, etc.  Where as without that I had to just think "Hm, my debt is going to be $x, rent should be $y... yeah, this'll work" and that was that. 

    Don't over think it.  It's not that complicated.  There is one item that makes up 99% of your income (rent).  Then there are a small handful of items that make up most of your expenses.  Don't worry about hitting a home run on your first deal.  Just get something.  The first one is always the hardest. 


     For sure. If the numbers work the numbers work and don't over think it. 

    0Reply
  • Kenny Kuramoto
    OP
    Member since 2022 · 69 posts · 20 votes
    4y
    Quote from @Jordan Moorhead:

    @Kenny Kuramoto check out some of the blogs on here too and the enormous amount of free educational content. The forums only go so deep and can only answer specific questions. Don't ask how to make money generally on here and expect a great answer. I recommend you put together a thesis and ask specific questions that you can have answered by those more experienced.


     Yeah another reply said this and It's true the better question the better answer. Like I said before this thread will help others starting out to give better questions.

    1Reply
  • Kenny Kuramoto
    OP
    Member since 2022 · 69 posts · 20 votes
    4y
    Quote from @Jaron Walling:

    @Kenny Kuramoto So much constructive advice given here. 

    The best you can do is stay hyper LOCAL. If you want to invest and buy in SoCal focus on that. Follow discussions revolving around your market. As a mid west investor I don't read and use my TIME researching Florida. The numbers don't make any sense. The ARV's, rehab budgets, and strategies don't match what we're trying achieve.

    You can literally get a degree in REI from this website. it's quite obvious but the format of these forums steers you to newer/tending posts. Use the search bar and read older post (from your market). You'll find quality discussions about rentals, tenants disputes, evictions, or cash-for-keys from the experts in these forums.  


    It's hard to invest in Cali as I'm priced out on most things. There are a couple ideas I had but for a 200k HELOC I can't figure out how to make the price wor.

    0Reply
  • Jaron WallingPro Member
    Rental Property Investor · Indianapolis, IN · Member since 2018 · 4k+ posts · 4k+ votes
    4y
    Quote from @Kenny Kuramoto:
    Quote from @Jaron Walling:

    @Kenny Kuramoto So much constructive advice given here. 

    The best you can do is stay hyper LOCAL. If you want to invest and buy in SoCal focus on that. Follow discussions revolving around your market. As a mid west investor I don't read and use my TIME researching Florida. The numbers don't make any sense. The ARV's, rehab budgets, and strategies don't match what we're trying achieve.

    You can literally get a degree in REI from this website. it's quite obvious but the format of these forums steers you to newer/tending posts. Use the search bar and read older post (from your market). You'll find quality discussions about rentals, tenants disputes, evictions, or cash-for-keys from the experts in these forums.  


    It's hard to invest in Cali as I'm priced out on most things. There are a couple ideas I had but for a 200k HELOC I can't figure out how to make the price wor.

     I frequents the forums at least 3-4 times a week I read statements like that all the time. I don't disagree about with your opinions and prices in Cali but like others stated the first one is the hardest. It's about developing the correct mindset then taking action. 

    How many properties have you walked this year? How are you running numbers? How many offers have you made? Are you search off and on market? That's action. 

    1Reply
  • Eliott Elias
    Investor · Austin, TX · Member since 2021 · 9k+ posts · 5k+ votes
    4y

    I understand where you're coming from, but the quality of these newbie questions are horrible. You get their whole life story before getting to the point. KISS keep it simple stupid!

    0Reply
  • Matt Scinto
    Member since 2021 · 16 posts · 6 votes
    4y

    @Kenny Kuramoto ahhh ok I understand what you were saying now. Like no matter what I listen to I always pull a couple good tips from whoever is being interviewed in their videos but I understand the self promoter stuff, it's everywhere now

    0Reply
  • David M.
    Morris County, NJ · Member since 2020 · 5k+ posts · 2k+ votes
    4y

    @Kenny Kuramoto

    Yes, I TEND to agree...  It does feel like to me "half" of the people posting are newbies looking for info and the other "half" are people "selling" something...

    Also, its difficult to really give "good/appropriate" advice in a public forum.  All the info is "out there."  Without a true conversation (back and forth), its not worth the time to sit here and re-type a "lecture."  As I think its been mentioned (I'd skmmed the thread), the issue for any newbie and some seasoned investors is figuring out what info is appropriate.  Very rarely is advice or a pitch given with the necessary context or conditions when its appropriate.

    I'd be happy to chat if you'd like.  Just send me a direct message.

    0Reply
  • Kenny Kuramoto
    OP
    Member since 2022 · 69 posts · 20 votes
    4y
    Quote from @Jaron Walling:
    Quote from @Kenny Kuramoto:
    Quote from @Jaron Walling:

    @Kenny Kuramoto So much constructive advice given here. 

    The best you can do is stay hyper LOCAL. If you want to invest and buy in SoCal focus on that. Follow discussions revolving around your market. As a mid west investor I don't read and use my TIME researching Florida. The numbers don't make any sense. The ARV's, rehab budgets, and strategies don't match what we're trying achieve.

    You can literally get a degree in REI from this website. it's quite obvious but the format of these forums steers you to newer/tending posts. Use the search bar and read older post (from your market). You'll find quality discussions about rentals, tenants disputes, evictions, or cash-for-keys from the experts in these forums.  


    It's hard to invest in Cali as I'm priced out on most things. There are a couple ideas I had but for a 200k HELOC I can't figure out how to make the price wor.

     I frequents the forums at least 3-4 times a week I read statements like that all the time. I don't disagree about with your opinions and prices in Cali but like others stated the first one is the hardest. It's about developing the correct mindset then taking action. 

    How many properties have you walked this year? How are you running numbers? How many offers have you made? Are you search off and on market? That's action. 


    I haven't walked any this year as I need to travel to view these OOS properties. I'm running the numbers on dealcheck mostly to see the cashflow and CoC. Everything is off Zillow and Redfin. I have contacted 3 Agents already to give me listings of properties that meet my criteria.

    2Reply
  • Kenny Kuramoto
    OP
    Member since 2022 · 69 posts · 20 votes
    4y
    Quote from @Eliott Elias:

    I understand where you're coming from, but the quality of these newbie questions are horrible. You get their whole life story before getting to the point. KISS keep it simple stupid!


     100% Thats all I'm saying. I'm not trying to talk bad on anything... Thanks for understanding haha. Like I said. This thread should help some people that they need to stop asking " where do I invest" or "How do I start" and start saying more info like what have you done, what are your goals, where do you live, whats your criteria. It will help give more detailed replies

    0Reply
  • Dan DiFilippoBusiness Member
    Real Estate Broker · Fayetteville, NC · Member since 2020 · 251 posts · 244 votes
    4y

    @Kenny Kuramoto how many subject books have you read? Maybe you should start there. You'll get more out of what you read on here.

    [email protected]910-745-6972
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  • Jaron WallingPro Member
    Rental Property Investor · Indianapolis, IN · Member since 2018 · 4k+ posts · 4k+ votes
    4y

    @Kenny Kuramoto I haven't hear of Dealcheck... and not I'm going to search for it for a couple reasons. Using what I've learned for free in these forums I created my own spreadsheets. During that time you LEARN how the numbers affect a property. You learn how to the pull the strings. I'm by no means an expert but we can punch numbers and see an estimated ROI. This is done before we walk a property. Words cannot describe how important this step is. Some of the numbers are real like insurance quotes, market rate rent, and property taxes. Others are estimated based on local knowledge. Some are based on what other investors recommend.

    If you want to grow as an investor I'd spend the next couple weeks in excel. Start with a clean sheet and search everything you can about running numbers. Income, expenses, and formulas to spit out an ROI. Then build out more aspects. You could even build an amortization table for a mortgage. It's alarming to see how front loaded a fixed rate mortgage really is. It's a 2 mins adjustment to analyze opportunities; great deal, could be something, and hard pass. 

    0Reply
  • Kenny Kuramoto
    OP
    Member since 2022 · 69 posts · 20 votes
    4y
    Quote from @Dan DiFilippo:

    @Kenny Kuramoto how many subject books have you read? Maybe you should start there. You'll get more out of what you read on here.


     Guys I'm not disappointed in my lack of knowledge. I'm learning more everyday. I'm just stating that I read the forums in the starting out section and it's not quality replies. I said it so many times in this thread.

    0Reply
  • Bruce WoodruffPro Member
    Contractor/Investor/Consultant · San Diego / Phoenix · Member since 2021 · 12k+ posts · 15k+ votes
    4y
    Quote from @Kenny Kuramoto:

    Well what do you expect from the 'Starting Out' section.....? There is a HUGE amount of knowledge on here.....


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