What is the best piece of advice you've received on BP?

34 Replies

@Account Closed Great find in the archives!

In addition to some of those mentioned, one I can't get out of my head is....

$1 of income is worth more than $1 of expenses

...so simple, but so true! I wish I could remember which expert it was (and the exact wording) but thank you!

Are you kidding, that's like putting a child in a candy store and saying " OK Johnny/Suzy you can have just one piece so pick one " It's too hard to pick! :)_

You're welcome Jon. I'm hoping our upcoming projects are prosperous ones! Things are starting to get quite nuts lately. I don't have any time to post on BP anymore!

It's been good to see what's going on around the country, it certainly helps in seeing the big picture. And, how the banks have reacted during the past couple years in short sales, this aspect as been new for everyone, the regs and the strategies. SO you can teach an old dog new tricks, LOL :)

Originally posted by Dave Meyer:
Jean K. Great find in the archives!

In addition to some of those mentioned, one I can't get out of my head is....

$1 of income is worth more than $1 of expenses

...so simple, but so true! I wish I could remember which expert it was (and the exact wording) but thank you!

Charles Perkins posted what I think you wanted to say:
http://www.biggerpockets.com/forums/61/topics/73429-landlords---what-are-all-your-practical-money-savers?page=2#p425132

And then there is Brandy Y. giving that same basic line:
http://www.biggerpockets.com/forums/51/topics/75660-multiple-self-directed-retirement-accounts?page=1#p444559

I'd have to say the best piece of advice I've ever read here on BP is this:

When you're looking for someone to mentor you, or a private lender, you must KNOW what you bring to the table, and be able to clearly communicate it. What can you do that will bring value to the relationship?

This business is all about networking & knowing what you know. Accomplished investors of all types would LOVE to have someone to chase leads for example. And for that help, they'll teach you the ropes.

I think it was @Loc R. who said it in such a way that had a profound affect on me. I can't find it, and it might not have been Loc. If @Steve Babiak feels frisky maybe he will have more luck than I. I'm pretty sure it was in a "how do I find a mentor" or "how do I find a private lender" topic, but I've searched & can't find it.

@Shane Woods , I have to agree. Just being active on BP, and starting to network has helped me some!

This business is all about networking & knowing what you know. Accomplished investors of all types would LOVE to have someone to chase leads for example. And for that help, they'll teach you the ropes.

Glad to hear that @Keith Lutz . I'm doing lead followup for a couple of investors right now that just happened by accident. And I've already learned way more than reading books or forums, and it hasn't cost me much...it's like paid training. What works for me is being great on the phone and with people in general. Lots of people hate phone work & talking with sellers. I love it. That's what I bring to the table. :) Everyone should be asking theirself: What do I have have to offer this investor person that will make their job easier/better, so that in return I'll learn what/how they do?

Free eBook from BiggerPockets!

Ultimate Beginner's Guide Book Cover

Join BiggerPockets and get The Ultimate Beginner's Guide to Real Estate Investing for FREE - read by more than 100,000 people - AND get exclusive real estate investing tips, tricks and techniques delivered straight to your inbox twice weekly!

  • Actionable advice for getting started,
  • Discover the 10 Most Lucrative Real Estate Niches,
  • Learn how to get started with or without money,
  • Explore Real-Life Strategies for Building Wealth,
  • And a LOT more.

We hate spam just as much as you