Investor · Philadelphia, PA · Member since 2015 · 3k+ posts · 3k+ votes
What are the topics that come up on BP way too much?
LLC or not?/ transfer to LLC
Guru stole my money guru is a scam
Best flooring for my rental
Any others?
Real Estate Agent · Orlando, FL · Member since 2008 · 551 posts · 159 votes
10y
Hi, I am new to real estate. Will someone who is super successful but has nothing to do and lots of time on their hands be my mentor, find me deals and teach me everything that I need to know.
Hi, I am new to real estate. Will someone who is super successful but has nothing to do and lots of time on their hands be my mentor, find me deals and teach me everything that I need to know.
John Kent welcome to BP. I went to Disney World but have no investments in Florida. I can be your boots on the ground and show you the joy of passive income.
Please PM me and I can let you know where to send your cash.
Wholesaler · Bushnell, FL · Member since 2016 · 3 posts · 0 votes
10y
Hey John. I'm semi-retired but still do a deal herer and there to create income. I try to do a deal a month but have a fair amount of down time available. What are you looking for? I live about an hour West of Orlando. Email me anytime up to 9:00 PM and we can chat.
My last deal I bought an auction.com home near here on October 15, 2015 for $14K, insured it for 6 months (575.00 - 30K structure, 75K liability, no one had to come out and look), did nothing to it and sold it on February 16, 2016 it "AS-IS" for a net of $15K. This is a small rural community. If it was a bigger community, it would've sold quicker but the purchase price woul have been higher.
Now that was a great investment. I wish they all had ROI's like that one! Email me and we can chat.
Rental Property Investor · Tulsa, OK · Member since 2014 · 241 posts · 187 votes
10y
What software should I use for my new REI business? My budget is "0" and I don't have any properties, and when I do I don't know if I will use a Property Manager?
Investor · Atlanta, GA · Member since 2013 · 3k+ posts · 3k+ votes
10y
Should I get all of my team (accountant, attorney, realtor, contractor etc) together and file my corporation and furnish my office first, before I even start looking for deals?
Real Estate Agent · Orlando, FL · Member since 2008 · 551 posts · 159 votes
10y
@Bob Stevens thank you kindly for your generosity. I am a seasoned investor and an agent who works with investors. My post was in response to the original post asking for repetitive topics here on BP.
Rental Property Investor · Denver, CO · Member since 2014 · 2k+ posts · 6k+ votes
10y
Well this is perfect. Literally a year's worth of topics to address for new users, put down in a list, we'll start with the most votes first. Thank you!
And just to chime in -
"I'm a new investor with a middle-class white collar 9-5 job and listen to the podcast on my 45-minute commute. ON THE SIDE, I'm going to buy TEN properties this year, and THIRTY next year. This will be my first post, and after making this outlandish proclamation to the community, I shall not be heard from ever again."
Christiansburg, VA · Member since 2016 · 7 posts · 4 votes
10y
Well, this "most repetitive topics" knocked me down a few notches:) I'm glad I read it and will try not to make these mistakes! Instead, start small, focus, save money, research and try not to be a pain in the rear!
This thread may explain why my local Real Estate Networking facebook page (That BP referred to on a marketing webinar last week) didn't take off like I expected (given that I have no experience yet). Also my requests to some local people for advice in exchange for services have fallen flat.
I was getting a little depressed since BP preaches "ACTION". I've done networking "ACTION" and not working. Perhaps I need to lower my expectations on finding a mentor, and increase my research time and familiarity with my local market more! Thank you!
Investor, Entrepreneur, Educator · Springfield, MO · Member since 2009 · 21k+ posts · 12k+ votes
10y
It's an endless list! It's also why my posting and other seasoned types are slowing down, IMO. Same repetitive questions from the I want it now bunch, don't make search, I have a question...... it's okay if you guys have to retype answers 1,000 times!
What contract do I need to wholesale?
How do I find the ARV?
I did this or that, now what?
Do I need an LLC for each property?
Can I get a loan?
Have money ($XXX) what should I do?
One of my favorites; Need "Investor friendly" attorney, Realtor, title company, appraiser (or anyone who is a professional and knows better!)
Well, can't write these questions all day, back to the forum chatter! :)
Funny, but you've created a nice instant "informative" poll and it's definitely telling us something.
I hope admin is taking note. I don't know if BP's backend software is capable of this but...
If all these "most repetitive questions on BP" threads are harvested, collated and indexed in a very visible / easy to access corner of the site, I bet it becomes one of the most trafficked corners of this blog.
The emphasis on the BP forums has although been quantity of posts and topics. Now that the site is so huge, perhaps quality should now be the emphasis.
Well this is perfect. Literally a year's worth of topics to address for new users, put down in a list, we'll start with the most votes first. Thank you!
And just to chime in -
"I'm a new investor with a middle-class white collar 9-5 job and listen to the podcast on my 45-minute commute. ON THE SIDE, I'm going to buy TEN properties this year, and THIRTY next year. This will be my first post, and after making this outlandish proclamation to the community, I shall not be heard from ever again."
I'm sure BP absolutely want quality questions but you can’t forget the stated goal of this blog.
Biggerpockets' tagline reads - (Biggerpockets is a) “Social network for the real estate investing community.” It’s a place for newbies and seasoned investors alike to ……..“ Learn real estate investment, get free tips & education, make deals, and grow your business.”
Newbie questions evolve from quantity to quality. So if you’re a seasoned investor, chances are that you’ll see their questions as basic (non quality) if you will. But to another newbie, that question is literally a Godsend.
Maybe using software to automatically compile and relocate all these “quantity” questions into a section of the site and herding hungry investors ( newbies et al) towards that area can be good for all.
Heavy traffic (if you will that is) directed away from the “main thoroughfare” so the "seasoned investors" (maybe like yourself) can graze in peace without being distracted by the “quantity” that you speak of.
I'm sure BP absolutely want quality questions..........
Newbie questions evolve from quantity to quality. So if you’re a seasoned investor, chances are that you’ll see their questions as basic (non quality) if you will. But to another newbie, that question is literally a Godsend.
Maybe using software to automatically compile and relocate all these “quantity” questions into a section of the site and herding hungry investors ( newbies et al) towards that area can be good for all.
Heavy traffic (if you will that is) directed away from the “main thoroughfare” so the "seasoned investors" (maybe like yourself) can graze in peace without being distracted by the “quantity” that you speak of.
Very good suggestion Francis!
I didn't mean to be so tough on those with less knowledge, we were all there when we began. BP as well as real estate is a social business.
If there is any positive strand to marketing RE gurus, it must be that they have generated an interest in real estate with their hype, let's not fault our newbies for their interest.
Younger people are quick to engage in public forums, being tech savvy they are more eager to join in and just like any conversation sometimes we fail to engage the brain before we open our mouth, that applies to everyone, yes me too.
When someone just jumps in with poor advice, it takes about 4X as much writing to point out the issue than to simply give correct advice, we use to say an expert was anyone more than 50 miles from home, now they can be at home!
If there is a stupid question, it would be one that has been addressed 500 times before.
We have a "Pro Only" forum section, that is no guarantee that someone who drops money in won't be giving bad advice, many seem to be on the newish side as well.
Consolidating good information would be very difficult to do, who would judge that advice? BP staff? Really, I love'em all, but real estate and finance expertise doesn't really overflow on the admin side. There is a lot of very questionable material (unethical and even illegal aspects) that remains in podcasts and blogs and it does so from a social networking point of view, introducing ideas, not really an educational one.
We can't really have a post count as an indicator of quality, nor can we use votes, being a popular poster is not an indication of quality in some cases it's simply about popularity. There are a few "blow hards" that are popular, having a cutoff at 10,000 posts isn't fair, we have a new member who was a real estate regulator, he has given solid advice, another is a compliance consultant. We have other sharp and qualified people who have low post counts, so that's out.
We can't use age or perceived maturity in the business as an indicator of quality knowledge either, some of the worst advice or suggestions come from old investors thinking they are still in the 80's or 90's.
No, I think the best software program ever devised is in our brain, in life and in any venture, we simply have to develop a good BS Meter to sort things out, that takes some effort to do, but it's not that hard.
BTW, I get some relief in a forum at the University of Missouri Law`School, not for everyone but I enjoy it. I'm also a newbie on other sites, I ask dumb questions about yachting, owning one doesn't make you an expert and I'm still trying to figure out lofting chines in boat designs. So, we all have our talents and shortcomings. :)
pueblo, CO · Member since 2015 · 5 posts · 2 votes
10y
Not adding content, asking a question.
I haven't asked any of these questions but I am curious about the answers. I am guessing that most of them are too individual for others to answer or are opinions.
ie. when to pay off certain loans vs. getting more.
I wonder if BP has sort of 'jumped the shark'. Meaning that it's become so popular, that its popularity is really hurting it.
If I open BP in a window in the morning and don't write anything else, there are 500-1000 new posts if I go back in hours later. It's crazy. Who can keep up? So, I might look at the top 20 topic lines and if nothing jumps out I don't write anything. There are simply so many new posts (and many repetitive), that nobody can really keep up. So, now the answers are just sort of from those who happen to be looking at the time, but no longer is it a sure thing that people with really great answers/knowledge actually ever see the question.
