Do I need to be "concerned" bout Big Pockets forum members?

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Do I need to be "concerned" bout Big Pockets forum members?

Investor · Vancouver · Member since 2017 · 44 posts · 9 votes

I am new to RE discussions nad the BP community. I just noticed people here are VERY open to helping and giving advice/guidance. For some reason... I feel these are red flags, but maybe am wrong. I come from the online digital marketing world and attitudes like this mean they are trying to solicit their services or products to you...

Though I am so new, and perhaps this is just the common BP community culture that people are being helpful.

Should I be concerned about these users and are there any warning signs I should take note of or be weery of - thank you for your replies.

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Mindy JensenPro Member

BiggerPockets Money Podcast Host · Longmont, CO · Member since 2014 · 7k+ posts · 10k+ votes

@Jessey Kwong , in my real life, not one person cares about real estate at all.

But on BiggerPockets, everyone here is a real estate geek. I can talk about tenants, new landlord laws, AirBnB regulations, and the frustrations of finding a contractor with people who care, know about it, and can contribute to the conversation.

I love real estate. I love talking about real estate and nobody I know in real life wants to talk about it. (Except for all the lovely people I meet at the local meetups.)

While there are people here who are trying to build their business, there are also just tons of people who have finally "found their tribe." BiggerPockets is my tribe. (And I'm not just saying that because I work here. I work here because It's my tribe.)

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Ryan Dossey
Real Estate Broker · Indianapolis, IN · Member since 2014 · 3k+ posts · 2k+ votes
8y
@Jessey Kwong

Just use good judgement. If they sell a product or service.... Check out their references if you're interested. If they sell a product or service make sure they actually personally use it... There's been a trend lately of some "keyword" squatting where the same folks answer questions on everything in a very copy/paste authoritative kind of a way. I've got no problem with helping folks or businesses helping folks. As long as they're actually doing and successful in what they're selling.

I will say that I've bought courses, used services, and met MANY people from BP with great luck. When in doubt check their references.
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Latanya Richardson
New York, NY · Member since 2017 · 4 posts · 2 votes
8y
Originally posted by @Michael Hayworth:

@Russell Brazil has a point. Some people are on here to generate business, but they mostly do it by actually being helpful. And some of them are legitimate experts in their field.
But the prevailing sense I get is that most people on here aren't even looking for business - they're engaged in give and take, they both get help and give help. I know I try to help people because other people helped me when I was new and clueless. It's rare for me to ask a question anymore, but I still do occasionally, and people help me. And even after years of doing this, I still learn things occasionally just by reading the threads. That's a good community.
Like anything else, there may be people taking a predatory approach, but don't assume everyone being helpful is out to take advantage of you.
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Mindy JensenPro Member
BiggerPockets Money Podcast Host · Longmont, CO · Member since 2014 · 7k+ posts · 10k+ votes
8y
Originally posted by @JD Martin:

Originally posted by @Mindy Jensen:
@Jessey Kwong , in my real life, not one person cares about real estate at all.
But on BiggerPockets, everyone here is a real estate geek. I can talk about tenants, new landlord laws, AirBnB regulations, and the frustrations of finding a contractor with people who care, know about it, and can contribute to the conversation.
I love real estate. I love talking about real estate and nobody I know in real life wants to talk about it. (Except for all the lovely people I meet at the local meetups.)
While there are people here who are trying to build their business, there are also just tons of people who have finally "found their tribe." BiggerPockets is my tribe. (And I'm not just saying that because I work here. I work here because It's my tribe.)
I love it. This is a great post. I feel the same way. Except I don't work at BP. :) Well, maybe one day I will.
We ARE hiring... www.biggerpockets.com/jobs
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Jay HinrichsBusiness Member
Real Estate Consultant · Summerlin, NV · Member since 2014 · 45k+ posts · 66k+ votes
8y
Originally posted by @Joe Splitrock:

@Account Closed because they are just offering a financing option for people who can't get money from a bank. There are lots of reasons people would choose HML and they accept the higher rate.
Subject-to or wraps cannot be used on foreclosures or auctions. Or in other cases when sellers don't want to retain their mortgage. For example, an estate selling a property or home owner looking to get a new mortgage, would not want to retain their mortgage for your benefit.
In other words, your method is not the single best solution. It is hardly morally superior to hard money lending. Subject-to and wraps are often used to take advantage of sellers. I have personally seen this happen to someone I know. Most mortgage contracts prohibit these types of transactions through the "due on sale" clause. The seller is left holding the mortgage, which makes these types of deals risky for the seller. At least when a HML deal is done, the seller gets to walk away.
Talking about how hard money lending is a bad deal, then touting your high profit method of raking sellers over the coals is the ultimate irony. No reason to hate on others that have a different business model than you.
Agreed I have seen so much carnage in sub too investing.. I discourage it at all points of the compass... its the province of many out and out thieves.. ( not saying this guys is a crook of course) but you can bet there has been many a seller totally abused by this scheme.
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Jay HinrichsBusiness Member
Real Estate Consultant · Summerlin, NV · Member since 2014 · 45k+ posts · 66k+ votes
8y
Originally posted by @Mindy Jensen:

Originally posted by @JD Martin:
Originally posted by @Mindy Jensen:

@Jessey Kwong , in my real life, not one person cares about real estate at all.
But on BiggerPockets, everyone here is a real estate geek. I can talk about tenants, new landlord laws, AirBnB regulations, and the frustrations of finding a contractor with people who care, know about it, and can contribute to the conversation.
I love real estate. I love talking about real estate and nobody I know in real life wants to talk about it. (Except for all the lovely people I meet at the local meetups.)
While there are people here who are trying to build their business, there are also just tons of people who have finally "found their tribe." BiggerPockets is my tribe. (And I'm not just saying that because I work here. I work here because It's my tribe.)
I love it. This is a great post. I feel the same way. Except I don't work at BP. :) Well, maybe one day I will.
We ARE hiring... www.biggerpockets.com/jobs
Mindy I would apply but it will foul up my SS payments..
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Steve Vaughan
Rental Property Investor · East Wenatchee, WA · Member since 2014 · 10k+ posts · 16k+ votes
8y
If the entire post is - 'I have a solution. PM me.' Don't!
Here it's give and take. I have learned who posts and doesn't come back, who ignores and doesn't engage the thread once they've asked their question. I make it a point to not waste my time in the future with that person.
Post and ghost much @Jessey Kwong? A lot of good responses here. Maybe we aren't worthy of your time to hear back? Is that how they do it in 'digital marketing'?
In a recent thread someone was whining that not enough people would respond to their questions. I said 'maybe because 9 out of 10 don't answer a clarifying question when asked and a lot just ignore us all together when we do answer, even when we add value and answer it.' Then I mentioned the person, asked them a specific question and gave 3:1 odds the whiner wouldn't come back. Some people owe me money LOL. He never did.
Actions speak louder than words our new friend.
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JD MartinBusiness Member
Moderator
Rock Star Extraordinaire · Northeast, TN · Member since 2015 · 10k+ posts · 16k+ votes
8y
Originally posted by @Mindy Jensen:
Originally posted by @JD Martin:

Originally posted by @Mindy Jensen:
@Jessey Kwong , in my real life, not one person cares about real estate at all.
But on BiggerPockets, everyone here is a real estate geek. I can talk about tenants, new landlord laws, AirBnB regulations, and the frustrations of finding a contractor with people who care, know about it, and can contribute to the conversation.
I love real estate. I love talking about real estate and nobody I know in real life wants to talk about it. (Except for all the lovely people I meet at the local meetups.)
While there are people here who are trying to build their business, there are also just tons of people who have finally "found their tribe." BiggerPockets is my tribe. (And I'm not just saying that because I work here. I work here because It's my tribe.)
I love it. This is a great post. I feel the same way. Except I don't work at BP. :) Well, maybe one day I will.
We ARE hiring... www.biggerpockets.com/jobs
I know! But I would have to move to Denver. I need an @Brandon Turner remote setup! Someone's gotta be here to keep things in line on my rentals. Maybe I could be the organizer for "BP East" - I have a central location in the east :)
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Michael PorchePro Member
Rental Property Investor · Boise, ID · Member since 2017 · 220 posts · 101 votes
8y
Originally posted by @Andrew Johnson:

Jessey Kwong So the extent of “services” I’ve offered are: “Buy me a Jamba Juice in Carlsbad and pick my brain for all of the limited information it has!”
I live in San Diego, I will buy you TWO Jamba Juice in Carlsbad to pick your brain! I am new in REI and your profile seems to be the direction I'd like to head!
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Account Closed
Consultant · Phoenix, AZ · Member since 2017 · 152 posts · 23 votes
8y
It is important to get the right information. Many BiggerPockets members are experienced and knowledgeable. The motives of people are known only to them.
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Kendra T.
Elk Grove, CA · Member since 2009 · 65 posts · 9 votes
8y
You can't generate business without being helpful first.
On another note, I come here to put in my two cents and also seek out real estate professionals for their services.
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John Thedford
Real Estate Broker · Naples, FL · Member since 2013 · 9k+ posts · 6k+ votes
8y
@Matthew Olszak
"However, I am wary of members with no photo"
I bet I can find several people that operate illegally that dress nice and wear suits for their profile photo:)
If someone wants to find out about a licensee, that is pretty easy to look up particularly in FL. You can check license status as well as violations. The worst deal I ever did was with a BP member with a photo. They post and they state "come join our team". I funded a deal, only later to find out they are penniless.
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Mike D'ArrigoPro Member
Turn key provider · San Jose, CA · Member since 2010 · 4k+ posts · 3k+ votes
8y
@Jessey Kwong Self promotion is not allowed in the forums but it's possible to create visibility and raise one's profile by sharing useful knowledge and experience. That's what a lot of people are doing. That's not to say that what they have to say is less valuable than others. One of the great things about BP is that it attracts people that love real estate investment and enjoy sharing their knowledge. Take advantage of that resource.
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Gina Tavizon
Realtor · Cypress, CA · Member since 2014 · 36 posts · 14 votes
8y
Bigger Pockets is going to be subject to the same issues and quirks as any business—a few not-so-great people, sales pitches, etc.—however, I find it to be one of the few business forums that is transparent and extremely helpful. I truly believe it’s like with anything in life—you get what you look for. You look for problems, you’ll find problems. You look for the good, you find mostly good. It’s worked for me this way in any business I’ve worked in (and life, in general). Just be smart about your engagements. Feel people out, vet them out, do your due diligence. I truly believe there is so much to be gained on BP.
1 Reply
Odie Ayaga
Specialist · Delran, NJ · Member since 2016 · 2k+ posts · 951 votes
8y
Don't believe @JD Martin....@Jay Hinrichs knows all
2 Reply
Shawn AckermanPro Member
Real Estate Entrepreneur · Mid West, East Coast · Member since 2015 · 3k+ posts · 1k+ votes
8y
@Jessey Kwong Trust but verify.....Every been to Missouri? That is the show me state. Online is similar to working/talking with someone offline. Use your same vetting procedure. Best of luck to you.
0 Reply
John Wells
Austin, TX · Member since 2017 · 11 posts · 9 votes
8y
I disagree. Investing isn't a zero sum game, especially right now. There are truly win win scenarios all the time in the REI world. I always appreciate advice, even if it means someone else benefits from it as well!
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Kurt K.
Investor · in, MI · Member since 2013 · 226 posts · 102 votes
8y
It would be prudent to not fully trust anyone on the internet. Better to get ideas here then investigate them yourself.
0 Reply
Robert Rademan
Real Estate Agent · Parrish, FL · Member since 2017 · 13 posts · 11 votes
8y
There is a wealth of knowledge in these forums, but with anything as it's been said...verify everything.
0 Reply
James Wise
Real Estate Broker · Cleveland Dayton Cincinnati Toledo Columbus & Akron, OH · Member since 2013 · 30k+ posts · 20k+ votes
8y
Originally posted by @Jessey Kwong:

I am new to RE discussions nad the BP community. I just noticed people here are VERY open to helping and giving advice/guidance. For some reason... I feel these are red flags, but maybe am wrong. I come from the online digital marketing world and attitudes like this mean they are trying to solicit their services or products to you...
Though I am so new, and perhaps this is just the common BP community culture that people are being helpful.
Should I be concerned about these users and are there any warning signs I should take note of or be weery of - thank you for your replies.
Understandble way to feel. It is absolutely true that many have alterior motives for offering up advice. However the mere fact that some have alterior motives does not mean that the advice provided doesn't still hold value.
I try to give as much unbiased & helpful advice as possible. In return it gives me a platform to demonstrate that I am an expert in my field. Many people noticing that I am an expert often results in additional business for myself & my company.
At this point I am at close to 13,000 posts. If I didn't receive the additional business I wouldn't be able to dedicate as much of my time helping others without direct compensation.
With the amount of members on this site & even those who are not members but still see some of these threads via Google searches it is almost guranteed that many of my 13,000 posts have immensly helped countless investors whom I've never done any business with or received any compensation from.
2 Reply
Brian Truman
Realtor · Seattle, WA · Member since 2016 · 97 posts · 33 votes
8y
Hi @Jessey Kwong,
Many of the people you will find on BP have an abundance mindset.... like many of the posts put out here.... a lot of us get the opportunity to work with each other.... those that step out of line would have to face this community... Sometimes peer pressure is a good thing.....
I wish you well in your real estate endeavor!
0 Reply
Account Closed
Flipper · Pittsburgh, PA · Member since 2017 · 218 posts · 345 votes
8y
@Jessey Kwong If I ever give you some good advice and you make money off it and you're ever in Pittsburgh...yeah, I expect lunch. Good lunch, too, not a chain.
1 Reply
Scott TarantinoPro Member
Baltimore, MD · Member since 2017 · 7 posts · 14 votes
8y
I am a new in the real estate investing world and put my first offer on a property just a few days ago. I found a local mentor through BP, have done a lot of webinars (BP and others), and gone to meet ups to get myself more familiar with the real estate world locally.
I have been amazed at the incredible generosity demonstrated by those in the real estate business in sharing their time, experiences, and wisdom. Yes, there is an indirect benefit because when people help you, you'll help them in return later.
Being from NYC, I understand your cynicism and being a skeptic. There are bad people everywhere in every business. I personally have found those around me and on BP willing to help because they know it will come back to them 10x over in other ways.
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Dustin Lavender
Investor · searcy, AR · Member since 2016 · 147 posts · 111 votes
8y
BP is great, the biggest thing I would be concerned with is advice from people who don't actually invest. Someone correct my numbers, but I believe the survey results a few months ago revealed that like 70% of BP members were still working on their very first deal! Be weary, as they say advice is free.
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Shiloh LundahlPro Member
Rental Property Investor · Gilbert, AZ · Member since 2016 · 3k+ posts · 4k+ votes
8y
@Jessey Kwong I use the BP website for several reasons. I like to listen to the podcasts and learn about how people are successful doing what they do. It gives me ideas of what I could add to my business to be successful as well.
I also share with other people what I do and the different successes that I have had in efforts to attract money partners. So far that has worked out really well. I have partnered with 4 people within the last 6 months that I have met through BiggerPockets. For me it has been easier to partner with someone who already understands real estate investing than try to sell someone on the idea of real estate investing and then share with them the benefit of investing with me.
And lastly, it's fun to talk about real estate with people who like talking about real estate.
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Kim Tucker
Flipper/Rehabber · Kansas City, MO · Member since 2011 · 2k+ posts · 712 votes
8y
You should always check out everyone.
Someone contacted me looking for a referral and I suggested to ask on BP or our Facebook group and she said funny as the guy who screwed her came from BP. There are bad people out there looking for business every day.
Ask for references and check them out.
Ask in a group like this for people to PM if you have had bad experiences.
Ask for licensing and insurance.
Document everything and use proper contracts and if the connection warrants consult an attorney.
And by the way, as I am very visible in KC, many people will drop by name as a way of validating themselves, check with me first. Most of those name droppers who say they have done business with me I either don't know or would never do business with.
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