Love this! Posting more often now!
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Awesome information. Thank you!
@Dave Meyer that was great advice well said. I have noticed in the past when I post on the forum I end up getting a colleague request. Well said and thanks for the post.
I think sometimes as a newbie investor in the real estate realm you don't want to put your foot in your mouth or appear foolish. Its hard to interject into a conversation when you're in the beginning stages of your career. So for me I try to pick my spots on what I talk about with the forum. I think the more time you have under your belt the more value you can give. Like anything though patience is the key. So many of us want the mentor, the colleagues, the large network right now, but Rome wasn't built in a day. So for me I have to constantly remind myself that this is a process. I love the data and info presented because it gives me a good goal to shoot for.
Makes sense! Thanks Dave.
This immediately made me think of my sister's boyfriend, who is studying actuarial sciences. Am I right in believing that what you've done falls into the same realm?
Either way, super cool. :)
@Dave Meyer Great work. I am going to try this.
what is on adverage is
What is on adverage the amount of the % of the amount you should pay on a loan,for a flip?
Originally posted by @Jasmine Dixon :
Thank you Mike for this advice. I have already started applying these things. I've joined multiple REI clubs in the past few days. Some events coming up and when they do I will attend. I will definitely take your advice to see what others needs are and offer free help, I am currently building my reading collection and will add your recommended books.
You're welcome! I'm on the same journey myself, please feel free to message me and let me know how it goes :)
Thanks for the encouragement @Dave Meyer I hold back a lot because I am learning, but I see the benefit of posting more often.
I definitely agree with @Dan Mackin on this I am not on BP as much as I want and just looking at my past and current post I too would like to beef up my network national...thanks for pointing that out
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@Dave Meyer being new to BP, and to the industry, this information was really insightful. Thanks so much for sharing.
I love this info. everyone is giving. I have been on BP for about 2-3 weeks now and I agree the more Value you put into forums and reach out to people the better your network becomes. I appreciate everything that BP has given to investors in this community network.
@Dave Meyer Very interesting post--my left-brain analyst mind really lit up and loved it. Thank you for crunching the numbers and for the ideas.
I'm just the Newbie here but feel very positive about it. Thanks for sharing. Networking is the strength of your business.
When I was a kid nerds were mocked. Now as an adult, an aviator, and a real estate investor, I wear my nerd hat with pride! Thank you for your data and a great crash course on correlation and its importance.
I have been off the grid these last few months and now am back with a thirty day deadline to raise enough equity investors for an overseas buy-and-hold condo property.
But now that you have drawn my attention more to posts, I have an additional goal to continue to learn and strive to be in the top 1,000 most supportive folks on BP! Bring on the forum questions!
When I was a kid nerds were mocked. Now as an adult, aviator and investor, I fly my nerd flag with pride! Great post and an excellent crash course on correlation. You're correct, it is pretty useful.
I have been out of the net for a few months but I am back now with a goal to find enough investors to fund a long-term buy-and-hold property, an overseas metropolitan condo in a high growth city. But now I have another goal to keep learning and strive to be one of the top 1,000 most supportive folks on BP!
Awesome great information to have! @davemeyer and everyone's contribution here. I got a lot out of it.
@Dave Meyer Thank you for the analysis. As a new member to BP, the networking was one of my main reasons for joining, so I will get to it! Thank you for your contribution of the article.
@Dave Meyer thanks for this post. I have been a BP member for 2 years but never
posted more than a few posts. What a waste of my membership! I've never been any good at stats but you explained it very clear and the correlation is obvious. Thanks to your post I have set a new goal to become an active poster. I don't think I'll ever be in the top 1000 like @James Wise !!
Originally posted by @Dave Meyer :
No matter how you’re involved in real estate investing, I’d venture a guess that one of your main goals on BiggerPockets is networking. I know this is true because one of the most common questions we get at BiggerPockets is, “How can I make more connections on BiggerPockets?”
Well lucky for you, there is a simple answer: Post frequently on the forums.
There are dozens of ways to connect with people on BP, but I ran the numbers and the results are clear. People who post on the forums most frequently have the most profile views, and the most colleagues.
That makes sense, right? It doesn’t take a numbers whiz to see the connection: if you post, and build a reputation as a helpful and knowledgeable member of the community, people are going to want to connect with you.
And connections mean more deals seen, partners identified, and clients secured. A.K.A more money.
Still not convinced? Here’s some statistical nerdery to backup my claims:
I grabbed data for the 1,000 most-visited profiles on BiggerPockets. I then looked at correlations between profile views and forum posts, post votes, and number of colleagues. But before we get into that, a quick refresher on correlation in case you haven’t kept up on your stats knowledge since high school.
Here is the dictionary definition of correlation: a relation existing between phenomena or things or between mathematical or statistical variables which tend to vary, be associated, or occur together in a way not expected on the basis of chance alone.
In english? We’re measuring how changes in one variable affect changes in a second variable. So in our case: how does posting on the forums influence the number of profile views, or number of colleagues a member has?
And the reason stats nerds like me love correlation is that it is unit-agnostic. It tests the strength of a relationship between two variables, no matter if you’re measuring inches, pounds, housing prices, or forum votes. It’s a handy little tool.
I won’t bore you with the math to derive correlations, but I will explain a bit on how to interpret them. First, correlations are always a number between -1 and 1.
As you can see in the graphic above, a correlation of 0 means there is no linear relationship between the two variables (a change in variable A has no effect on variable B). A correlation of -1 means there is a very strong correlation, but the relationship is negative (one variables goes up, the other goes down). Lastly, a correlation of 1 means a strong positive relationship (both variables move together in the same direction).
So, back to how to make more connections on BiggerPockets. I ran a correlation matrix for the four variables: posts_count, profile_hits, votes_received, and colleague_count. Here are the results.
For our purposes we really just want to look at the numbers in BOLD right now.
profile_hits posts_count votes_received colleague_count profile_hits 1.00 posts_count 0.67 1.00 votes_received 0.71 0.87 1.00 colleague_count 0.70 0.54 0.49 1.00
Now that you’re an expert in correlations, we can see how strong these relationships are.
As you can see the correlation between posts and profile hits is .67, a really strong positive relationship! This means that the more posts you have the more times people will look at your profile.
The correlation between votes and profile hits is even stronger, at .71. Meaning that if you write such great forum posts that people vote for you, you’re even more likely to get profile hits.
But what good is a profile view without a connection? Well, the correlation between profile hits and colleague count is .70, also really strong. More profile hits means more colleagues.
So in short: more posts = more profile views = more colleagues.
I also did some regression analysis, which I can’t explain in a single forum post, but trust me, it’s really cool. What I discovered is that 50% of your colleague count can be attributed to the number of forum posts you have. That’s crazy! There are tons of variables that contribute to how many colleagues you have, but one variable reigns supreme: forum posts.
Posting on the forums is the single best way to build your network on BiggerPockets.
So you want to make more real estate connections, find partners, and make more deals? POST!
Stay tuned for a follow up post on the monetary value of BP connections!
If you have any questions about posting, correlations, statistical nerdery, or have some ideas for other data studies we should run, let me know!
Splendid report, Mr. Meyer
@Dave Meyer thanks! Just signed up this week, started posting a few days ago and have already made some great connections
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