What’s your opinion of self-righteous investors?

75 Replies

At least bold absolute posts invigorate emotion and discussion.  

What's worse to me is the vague feel-good yawner posts.  Do what feels right. It depends.  Do what fits your goals. Ugh.

Gotta stand for something or you'll fall for anything.  -Country Song

Originally posted by @Steve Vaughan :

At least bold absolute posts invigorate emotion and discussion.  

What's worse to me is the vague feel-good yawner posts.  Do what feels right. It depends.  Do what fits your goals. Ugh.

Gotta stand for something or you'll fall for anything.  -Country Song

 You sure not Buzzard Egg...............hahahahahaha. Rocks dont look like that.

Warren has said on many numerous often occasions dont try to be him.

Becky Quick once asked the Oracle of Omaha whats his WHY?   He responded Why what, whos on first, its on 2nd, maybe on 3rd. He looked at Becky like she lost it.

Originally posted by @Julius Chinn Chicken:
Originally posted by @Steve Vaughan:

At least bold absolute posts invigorate emotion and discussion.  

What's worse to me is the vague feel-good yawner posts.  Do what feels right. It depends.  Do what fits your goals. Ugh.

QGotta stand for something or you'll fall for anything.  -Country Song

 You sure not Buzzard Egg...............hahahahahaha. Rocks dont look like that.

Warren has said on many numerous often occasions dont try to be him.

Becky Quick once asked the Oracle of Omaha whats his WHY?   He responded Why what, whos on first, its on 2nd, maybe on 3rd. He looked at Becky like she lost it.

Right?  

I enjoy your firm (self-righteous?) stance against buying $320k Vegas homes that rent for $2k/mo.  The metrics are the same in my area, but nobody cares.   I'll buy with equity capture only. A 15% discount is worth years of typical per door cash-flow.

 

True @Dan Heuschele , some BP folks don't understand math. People can make money from CF,Appreciation,BRRR, or IRR. If any of these is workable then your project is profitable regardless it's in Missouri, California or the Phillipines.

I’m not sure I would of used the term self righteous. Opinionated is more what it seems is being targeted. There’s very few people that don’t have an opinion on something. 🧐

as much as "wholesellers" bug me, the people that get all high and mighty against them drive me nuts.  There was a dude on here from Flordia (if I remember right) that would do nothing but look for threads about wholeselling and comment like"

 "I'm going to report you to the (whatever it is).  You're doing brokerage without a license - HOW DARE YOU SIR!"

It was so cringe that I went from hating on whoelsellers myself to actually defending them just because this guy was such a tool. 

Originally posted by @Jordan Moorhead :

@Shiloh Lundahl what is the point of this post? If you don't like someone's opinion or advice, why not just ignore it?

 What's the point of your reply?  He's asking a question.  To spur dialog and conversation.  if it's not for you why not just skip it?

Originally posted by @Cody L. :

as much as "wholesellers" bug me, the people that get all high and mighty against them drive me nuts.  There was a dude on here from Flordia (if I remember right) that would do nothing but look for threads about wholeselling and comment like"

 "I'm going to report you to the (whatever it is).  You're doing brokerage without a license - HOW DARE YOU SIR!"

It was so cringe that I went from hating on whoelsellers myself to actually defending them just because this guy was such a tool. 

I think his name was John and I remember his posts being annoying.  However, that guy also donated a bunch of his time to personally help people out on BP that had been screwed over by wholesalers and the like

@Shiloh Lundahl  

My pet peeve is the otherwise piece = meaning "Social Media"

I see these self-righteous, egotistical real estate personalities on Social Media!!! 

Look at me I have so much money but don't forget to sign up for my course now!!! I will change your life even I have no interest in helping you whatsoever as I am clearly some self-serving.

Remember, to sign up now tho!!! Cuz if you wait till tomorrow the world will end...! 

Sorry, I think I have just totally started a brand new forum topic??!!!! lol 😂

Social Media RE Investors "showing off" unnecessarily. Why do they do that?!!! Boggles my mind 🧠  

@Shiloh Lundahl I had a reputable guy on here tell me that the guru education that I paid for was not tax decidable. He swore up and down that I was lying. Then there was a bunch on the thread who told me that I was crazy and it just went on and on. Like a bunch of bullies, but like in life I just shrugged and said they needed to get a better accountant. Also if you can’t be open then there’s no point in trying to persuade them, they know best.

Communication is rarely effective until you start thinking about the other person's needs rather than you own voice.  I am still learning that one.

absurd advice: Mom & Pop investors can't effectively manage rental properties and it's also self-righteous if it's coming from a professional property manager

They are posts, of opinions.  I think how strongly someone posts may be part of their style and tone and what to me may seem a strong post to others make seem to not go far enough. It is different then in-person preaching or a shout down saying there way is right. You have other voices that can post an opposing opinion and be heard. Then the reader can consider multiple views.  Sure, some posts, may scare off some people but I don't think you can be that sensitive in this environment.

As for most extreme opinions which I think is what you are asking. They are usually on: 1. Wholesaling (love it or hate it) 2. D class rentals (lipstick on pigs). 3. Relators (you have to have one or you don't) 4. property managers (you wouldn't have this problem if you had a PM), and  hobby landlords.

I stopped taking advice seriously from BP since most of the blogger and guru here can't even understand basic math , risk and has too much ego/self-promoter. Perhaps including the podcast and the founder :)

I only get annoyed by the investors that believe their niche is the only way to be successful. We have people that say that you’re an idiot if you don’t leverage to the Max, and also the people that say you’re an idiot if you don’t pay cash. Or out of state is impossible, single family homes are for noobs, turn key is for idiots etc. 

All forms of investing are the right move for certain individuals. For example if I’m a heart surgeon making 500K a year, and just looking for an easy place to park my money outside of the stock market, then turnkey is a viable option. If I’m making 100K a year and trying to achieve financial independence, then it’s probably not the way to go about it. Unless I want to be the richest man in the graveyard. 

Decide what niche is right for you, and what you’re trying to achieve. ONLY LISTEN TO THE PEOPLE THAT ARE SUCCESSFUL IN THAT NICHE. Everyone else is just noise. I value the words of caution from the heavy hitters on this forum. I only own 2 single family homes, so I’m all ears for advice. But, when someone says my goal of owning an out of state portfolio is never going to work it goes in one ear and out the other. 



You should really listen to your local property management company on rents and not decide your market rent from the internet. We KNOW the market by talking to hundreds and hundreds of renters. If I tell you a house will rent for $1100, I'm already pushing it a bit, please don't come tell me you need $1500 rent despite what I tell you, since you decided it needed to be more. We have very successful out of state owners because they trust us and listen to our 20 years of success. 

@Jonathan Hulen , I love your points.  Two of my favorite arguments: 

1. max leverage vs no leverage 

2. cash flow vs asset class

I always laugh when I read the posts that tell us all the ONLY arguments, opinions, strategies that are correct!!!  That said, I will continue to read them because unlike some of the posters, I don't have all of the only, right ideas...........

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