I Am THANKFUL to BP This Year Because...

37 Replies

BPer's, what are you grateful and thankful to BP this year?

Biggerpockets have indeed made my pocket bigger this year vs. last year. Thanks @Joshua Dorkin and @Brandon Turner .

In what ways did BP made me more money this year vs last year?

1.  I met a BIG Investor because of BP this year. He has already pledged to invest $2M with me (I've already bought 3 houses with his money - spent about $500K last week and will close on another house next week).

2. I met several smaller investors who already invested anywhere from $30K to $200K on my deals. In total, the new investment capital from smaller investors this year total around $650K.

3. I partnered with a BP member (I met him last year but we only did a deal starting this year) on the biggest rehab project of my career. Property is going to be worth $1.1M to even $1.2M by the time we're done. We bought the house for $490K and have budgeted about $202,500 in renovations.

4. I wholesaled several properties to BP members this year. One of which is to a buyer who I thought was not legit - he backed out of my deals twice - but he proved himself a real player by paying cash and closing in 2 weeks. Also, this year is the first time I wholesaled a house to a buyer in CANADA (the house is in Cincinnati - I am based in Chicago). I doubt it if this set up will ever happen without Biggerpockets!

5. I met credit partners because of BP. One of those credit partners closed on a rent to own deal for me - we're earning $600 a month cashflow on that one house. The loan is in his name and I put up the money. In another instance, a credit partner got a $2M rehab credit line - this is what we've used to buy my biggest rehab deal (see #3 above). Another credit  partner got me 2 rent to own homes. One of them is already rented (we just closed on our second deal) and we got $8,000 non refundable option fee on that one.

6. I lent money to a BP member who is a rehabber and he has since paid me back (and I made a good return!)

7. Even though I met this BP member back in 2014, he has partnered with me this year to start a REHAB LENDING business. We have closed on our first loan last week and have 4 in the pipeline (2 of those are loans from BP members).

8. I've provided Business Lines of Credit to about 20 BP members, ranging anywhere from $40K to $80K.

9. I've spoken to a REIA group twice this year because of a BP member - and some of the people I met there attended my seminars, signed up as credit partners and one of them even became part of my acquisitions team.

10. Talking about seminars, I made a little bit of money in putting up small seminars for real estate investors - majority of the attendees are BP members. I even put up a Real Estate School - and my students are BP members also. 

Now, don't get me wrong. Not all my deals are as profitable as I expected and there were many problems and challenges along the way. But without Biggerpockets, my real estate business this year will probably be not even half of what it is now. 

SO thank you BP!

What about you? What are you thankful to BP this year about?

I am thankful for quite a few things with BP.

1) Deal analysis and advice here helped me buy my first fully rental property (4 unit in Albany park that is cash flowing very well even as i live in one unit)

2) Listing Agent for my condo was met through BP

3) Flip i am working on now is with a partner that was introduced to me through a BP memeber

4) 2 Flips i have under contract are both with a partner i met through BP (same one working with Account Closed so i have to thank him and BP for that.

So from Feb to Nov i have bought over 1 mil in property, both flips and rentals, through BP associations. (now to get to 1 mil in equity)

Originally posted by @Nnabuenyi Anigbogu :

I am thankful for quite a few things with BP.

1) Deal analysis and advice here helped me buy my first fully rental property (4 unit in Albany park that is cash flowing very well even as i live in one unit)

2) Listing Agent for my condo was met through BP

3) Flip i am working on now is with a partner that was introduced to me through a BP memeber

4) 2 Flips i have under contract are both with a partner i met through BP (same one working with @Wendell De Guzman on his huge rehab)

5) The hard money that i am using for one of the flips could potentially come from a BP members lending arm

6) A good chunk of my education and exposure in REI has come from @Wendell De Guzman so i have to thank him and BP for that.

So from Feb to Nov i have bought over 1 mil in property, both flips and rentals, through BP associations. (now to get to 1 mil in equity)

 Very nice Nnabuenyi! I am privileged and honored to have taught you a little bit. Your success so far is through your hard work and is very much well deserved!

I'm am thankful to everyone that participates on the site for the sound advice and vast amount of transferable knowledge. I've been able to venture out to doing flips on my own, and I will be closing on my first rental property (a 4 flat in the Beverly Hill neighborhood of Chicago).

Thanks a lot BP I'll definitely return the favor.

Congrats to the many of you that have shared great successes. I too am grateful for the quality of information and people on BP. It's a privilege to be a part of such a professional online community. 

I am thankful to have been able to connect with Wendell. Since meeting him I've learned so much in the short time. I've also connected with so many key individuals who I look forward in crushing 2016 with! I strongly recommend you connect with Wendell and his team!

I am truly grateful to BP, it'd founders and it's community, I am brand new to all of this and it seems everyone I have a question I can open the search bar and find an answer, though I have nothing under belt yet, I grow more and more confident in my abilities. It is an honor and privilege to be apart of this community!

Hi,

I am thankful to BP for providing the platform for the REI community to connect, to learn, to share our experiences (good and bad), to vent out, to debate, to brainstorm and solve problems, to get the most needed help when things are not looking so good, to agree to disagree respectfully, and to celebrate our success stories.

For giving like-minded people the opportunity to create long-lasting business relationships and possible ever-lasting friendships.

Did I mention the education? A huge PLUS hands down.

The list goes on and on...

Thank you @Brandon Turner  and

@Joshua Dorkin for a job well done!

Warm Regards to the REI Community,

Yadira

PS: Account Closed Amazing, my request is on its way :)

Nice work gentlemen! Keep it up! I noticed you wholesaled a Cincinnati deal, what part of town was that deal in? Did you work with a wholesaler on the ground(I'm assuming)? I'm considering doing some deals remotely in Chicago so we might be able to work together on a deal or two if you have buyers in place.

Originally posted by @Chris Campbell :

Nice work gentlemen! Keep it up! I noticed you wholesaled a Cincinnati deal, what part of town was that deal in? Did you work with a wholesaler on the ground(I'm assuming)? I'm considering doing some deals remotely in Chicago so we might be able to work together on a deal or two if you have buyers in place.

 Chris, College Hill. Let's not derail this thread. 

Are you thankful to BP this year?

Account Closed I've had BP for a few years, but really just started using it a few weeks ago. It's always been a great place for like-minded people to connect. I'm grateful for the forum and I'm grateful for the past few years in real estate. I go where I want when I want, and some days I just stay home in my pajamas and think about what I want to do next (those are not my most productive days... lol). Real estate has blessed my family. BP will be a great resource moving forward as well. It was a good a few years ago, but it seems to be BIGGER and Better than before. 

When it’s all said and done I am thankful to be part of a group that through BP has been able to attract some of the best people in our industry.

It is through BP that I too discovered, sought out and now work side by side with @Wendell De Guzman. For that I am thankful.

I am thankful for the culture that BP has created. For it doesn’t matter where you are, if there’s a BP member present, your in common ground, a place where everyone is welcome.  

I am thankful for the education I have received, and am hoping to not have to take remedial courses at the school of hard knocks.  Thanks to @Joshua Dorkin and @Brandon Turner for this site.  Thanks to Dawn Anastasi, I now know what issues I have to address in future lease agreements.  Thanks to you all for the examples of success.

1. Bought a condo (current residence) at a modest discount. I would had probably paid current Market value if I wouldn't had known what a comparable was. I will be "House hacking" the condo next year. 

2. Currently in the middle of a rehab project, expecting to finish the rehab within 3 weeks. If it wasn't because of BP, I wouldn't had the guts to close on that property. I still have a lot to learn, but most of my current knowledge came from other BP members/threads (and J scott's books). Also saved 2.5K on a roof thanks to a referral from a BP member. 

I bet I can find a lot more reasons, but these are certainly the main two. 

I am thankful for the relationships I have found through BP.

Through BP I met a wholesaler and made a nice purchase from him.

We hope to sell it in a couple of weeks and then I look forward to posting in the "How much have you made from BP" thread.

I am thankful for the education that I received from the many posters, blogs, and podcasts.

I am thankful for the many relationships built online with BP members. 

I am thankful for the recommendation from the local Indianapolis BP members to attend the INREIA group.  I have made many contacts and relationships with BP members that are also INREIA members.

I am thankful for the encouragement I have received from the BP members. This site is truly a great group of people that are willing to help anyone out. I know that we are just small time investors compared to others on BP, but it allows us to learn from their experiences. It enables us to be prepared for when we take the next step in our business. We hold, rent and manage 6 doors; which is where we think we need to be right now. We are excited that BP will eventually help us to grow our REI business. THANK YOU BP!

This year we added 1 door, set up our LLCs, and will complete our estate plan (with asset protection).  This year was primarily working on building our business and the team that will support our business.  Without BP, we would never had organized our business so effectively.  Contacts made through BP relationships have made it all possible.  Again, we are small potatoes as compared to many on BP but we are bigger than we had ever envisioned.   THANK YOU BP!

I am thank full of all the awesome networking and contacts I have made from being a BP member.   I also got to meet the man, the myth and the legend @Joshua Dorkin at FinCon this year and that was super cool!

Sometimes I feel more comfortable talking to BP members then I do my own friends.  Is that weird?  Yes that is weird.

Originally posted by @Alexander A. :

I am thank full of all the awesome networking and contacts I have made from being a BP member.   I also got to meet the man, the myth and the legend @Joshua Dorkin at FinCon this year and that was super cool!

Sometimes I feel more comfortable talking to BP members then I do my own friends.  Is that weird?  Yes that is weird.

 Alexander, that is not weird. That means you're a true blue BP Nationalist (hahaha) or citizen of BP Nation.

Well - Josh has some pretty big tails. Everyone here is making money through BP. I am no exception, though it would help if @Brandon Turner quit running around telling everyone that I am just the worst guru there is...

Life is not about real estate. It's not about money. We are all talented people and money has to be and is a foregone conclusion. 

But then there are important things in life, and when I need advice I call these people - @Brian Burke@Serge S. , @Brandon Turner, and @Sreenath Vemulapalli . It's absolutely amazing, but I knew not a single one of these guys before BP. I spent my life being misunderstood, told that I am nuts, and wrong about everything I do. And then there was BP, and all of a sudden - I was home.

It's hard to put a dollar sign on friendships. It's hard to over-state the value of the reality that aside for Patrisha's opinion, the four opinions that matter to me in life are here...

And now, every one of these jerks (especially Burke) will make fun of me. What can I say - I'm an easy target...

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