Has Anyone Ever Stole a Deal on BiggerPockets

Question

I know this may sound paranoid, but I'm actually afraid to ask for advice on specific deals on Bigger Pockets because of the possibility of someone stealing the deal.  Is this a legitimate concern?  This market is so bad for buyers that I feel like if I do find a decent deal I'm going to be fighting off the jackals to secure it.

Russell Brazil · Answer

If someone is on top of their game, they may know what property you are talking about. At least a dozen times I've seen people post info on properties in my market and I know what property they are talking about. That being said if someone is smart enough to recognize the property you are asking about from a few small pieces of information....that property is likely already on their radar and they likely have a better chance at getting it than you do.

Pete Perez · Answer

Account Closed

I'd look into rules about raising rent (if any exist). Where I am there a ton of rules about how and why you can raise rent when purchasing a property. Where I am if you purchase a property and they are under a long term lease you can't raise rent until the lease is up, and even then there are rules about how much you can raise it.

Jason Hirko · Answer

Account Closed I wouldn't go on here an post the address and owner's phone number on some off market deal, but short of that I'd imagine you can get 99% of your questions answered without giving away all the pertinent information.

Account Closed · Answer

Thank you

Mike Cumbie · Answer

Account Closed

I just sent someone a set of comps this morning. I had him PM me the address and ran them for him. I just asked that if he ended up not making something work to let me know so I could try and get the listing. I've done it around 10 times where I had someone send me the info and I gave them the data. A few other ones told me they didn't trust doing it. To me trying to steal the deal gets you a bad rep quick. Not worth trying to steal it, that guy could feed me leads for years for the cost of some comps.

I don't wholesale but they run into people all the time who want retail, nice to have a place to off load them and someone who will throw over ones that they work better with.

Shawn Ackerman · Answer

Account Closed my rule of thumb is;

1. I have it under contract - Provide the address - Wholesale deal

2. I don't have it under contract - I don't post the address however may do cross streets.

Best of luck to you.

Sam R. · Answer

Account Closed You should be basing your offer on what it currently rents for and not what the seller or you think it should be renting for. Maintaining rents at the market rate is part of a building's upkeep.  The business side of things is "broken" if the seller has let rents slide.

Levi T. · Answer

Spot on. I've seen a few deals I knew talked about on here. I knew about them deals weeks or months beforehand. Needless to say, the deal did not fit my model, I was not in a position to get it, or the deal was not that good to make me want to line things up. Those who know have deals happing always vs the newbies or smaller investors who see deals less than they see vacations per year.

I would make sure your rental data is spot on, likely your about to make a life mistake or not. Give the street, street corners, or area. Someone on here will be able to guide you. Also check rentometer.com

Has Anyone Ever Stole a Deal on BiggerPockets

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