Thinking about starting a flipping blog, but unsure about sharing too much?

Question

Getting close to doing my first flip. I think it would be cool to document my progress - firstly for myself and secondarily it might be useful. I'd probably mimic 123flip.com. I really like that site.

I'm not sure how it would be useful to my business though. Thinking out loud: I presume it could help if I'm marketing to find houses to buy. Potential sellers could see what I'm doing and maybe be attracted to me because of that. Maybe neighbors of crappy houses will like what I do for property values and give me leads.

But, I wonder about sharing too much information. J Scott gives all kinds of financial details. Great for us investors who want to learn. But does it help him in his market? Other investors know his profits. Sellers may not like seeing his success?

In the past I've never been one to boast about a big sale in the technology field, especially before the deal was closed and the check had cleared. Even then I like to try to stay humble and keep to myself.

But (again), I like the idea of running a simple blog with pics and videos and details about my projects. I've got what I think is a pretty catchy domain name idea too, and I just registered it to be sure :)

So, how do you all decide how to balance those thoughts?

Rick H. · Answer

@Gary Bailey - there is sharing a reasonable amount of information, and there is TMI. The latter can result in what boxers "Leading with the Chin."

Providing specific information is unecessary to pass along principles and concepts.

Personally, I learned to establish some healthy boundaries in this area and I don't share the really good ideas with just anybody, in part because I had to expend time, money and energy to learn, and because I've learned the hard way that people don't appreciate information unless they are in the right environment and have invested something into it.

Alex Baev · Answer

Transparency and clarity of goals is one of the best ways to investing credibility. Think of Warren Buffet, who's value investing ideas have been out there for decades and he's telling people what he's doing pretty much as he's doing it, yet people think he's a genius. Yet he's just an average investor - by his own admission - who exercises incredible patience, analytical thinking and chooses to be transparent with his actions.

Ned Carey · Answer

The more you share the more you get.

As soon as people think you are afraid to share, you become the last person someone wants to share with.

Gary Parker · Answer

I really agree with Rick's last paragraph. However, I also try and build relationships with people that can help me grow. And, I have given away information in private about things that are working for me. I would say that most successful investors share most of what they learn and know; however, I know people keep small specifics about marketing and other things "secret". I also dont think this is a bad thing either. I think that as people try to become better at what they do, they improve on what they are doing and learn a lot of things about their area along the way. And a lot of the times that can be specific to their area. In other words if @Rick Harmon told me his "secret" of marketing to probate or attornies in California, it very well might not be as effective in my area. For example, through a lot of trial and error, I discovered a post card that works very well on one of the lists I mail to. It very well might not work in another area or another list.

Gary Bailey · Answer

This is a CRAZY situation that is unlikely to ever happen, however, I started a little blog to document a big rehab I was doing. Within 1 week my entire job site got shut down by the code enforcement office (I'll confess i didn't pull permits!) and when I asked how they found out about the house the guy said "I saw it on the internet"!!

Craziness.

Chris Feltus · Answer

Agreed. There is nothing new under the sun as they say. The secrets to real estate have been revealed long ago. Take the time to share with others, and you will receive back tenfold. If you document your journey and progress, eventually you will become an authority in your niche, and there are many ways this can be of benefit to you, and not just financially.

If everyone was tense and unwilling to share information openly and encourage each other onwards, Bigger Pockets would not be where it is today. Meditate on that one for a moment.

Matt Devincenzo · Answer

You're focused on what a potential or prior seller might think. I bet with about 95% certainty that sellers will almost never even find your blog, because REI is the last thing on their mind. A potential seller isn't looking for the REI that flips houses they're looking for who will buy their house...yesterday. And any that do find your site will probably be more interested in the fact that you can buy their house and fix their issue than how much money you make.

Your blog is more for those people looking to get into flipping, or to lend money. Both can be sources to grow your business. Maybe a seller is turned off and costs you a single deal, a contact that can help you perform on multiple deals every year is worth way more than that one lost seller.

Mark Ferguson · Answer

The reason blogs like that are successful is because they give so many details. I'm a strong believer in sharing knowledge and successes with others. I feel the more you help the more pull get back.

My blog has taught me a ton and I thought I knew it all when I started. If this is your first flip I would not be as concerned with giving up secrets as I would be with learning as much as possible.

Dawn Anastasi · Answer

When you think of J Scott, you think "this is a guy who gets things done". Wouldn't you want to be seen that way by sellers?

Thinking about starting a flipping blog, but unsure about sharing too much?

Thinking about starting a flipping blog, but unsure about sharing too much?

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