Investor · Sarasota, FL · Member since 2008 · 17k+ posts · 17k+ votes
I responded to another thread earlier today that was discussing how to build relationships and find partners on BiggerPockets. The gist of my response was that BP was an amazing platform, but to really leverage it, you had to make an effort to take relationships offline as well.
As part of that discussion, I listed the offline business relationships, partnerships and deals I've done with other BP members (without naming names to protect the innocent :). I thought I would recap that list here, and invite others to talk about the relationships they've done with other BP members. I'm convinced there are at least 1000 offline business relationships that have originated from BP -- I want to use this thread to see if I'm right!
So, once again, here's my list:
I've found a partner and now good friend who I've worked with on probably 25 deals in different capacities (partnering, lending, listing, buying, staging, etc)
I found a partner and now good friend that taught me how to build new construction and who I've started building spec homes with
I found an out-of-state partner that I've done nearly 20 deals with
I've purchased deals from 4 different BP members
I've sold deals to at least 3 different BP members
I've borrowed money from 3 BP members
I've loaned money to 2 BP members
I've found two people who I've mentored
I found a GC who has worked on about a dozen projects for me
I found a partner that I'm hoping to start building spec homes with in the near future
I've found a partner (@Joshua Dorkin ) who has published two of my books
And that doesn't include the dozens of people I've met, keep in contact with, and will likely partner with in some capacity in the years to come (I hope!)...
Developer · Santa Clarita, CA · Member since 2008 · 15k+ posts · 10k+ votes
12y
I would have to go back and check my books for counts, but here is some of my success stories from BP.
Have had at least a dozen BP members fund deals as private investors.
I have partnered with 4 separate BP members on deals.
I have formed at least 5 close friendships with BP members, and consider at least 25 others as friends even though we may have never met in person.
I have networked with hundreds, yes hundreds of BP members offline.
I have referred hundreds, if not thousands of people to BP, mostly while networking at live local RE events. (I am often confused by others as being the owner or partner of BP. I have to correct them and tell them I am merely a very long time member, moderator, and simply a promoter - for free I might add - of the site.
I have mentored at least 10 BP members.
I have learned from countless BP members, thereby increasing my knowledge and success.
I am working on a multi family syndication with another BP member and will likely have several other BP members join the fund.
I have bought countless beers and cocktails for other BP members and had them buy me countless more. Isn't live networking fun!!! :)
There is probably more but that is what I can remember for now.
Investor · Peachtree Corners, GA · Member since 2014 · 1k+ posts · 1k+ votes
12y
I haven't been around here as long as J Scott has but I've done several deals with BP members.
I've found a good friend who has helped me do a lot of flips from mentoring to selling.
I've found an excellent GC who I know will do a quality job for me at a good price.
I've found contractors who do a good job quickly and economically which is a hard to find combination. I've used them both on my flips and in some of my rentals.
I met one of the best house stagers in the business via BP.
Investor · Round Rock, TX · Member since 2010 · 8k+ posts · 4k+ votes
12y
We recently raised several hundred thousand dollars from BP members for our [recent] project here:
The deal is currently 71.2% funded and I would say at least 30% of that is from BP members.
I have done several spec builds with BP members in east Austin and have had countless conversations with folks that have helped in one way or another. We've probably raised over a million dollars in equity from the site in the last 2 or so years either through our fund, JVs, or crowdfunding.
Real Estate Consultant · Camarillo, CA · Member since 2010 · 2k+ posts · 1k+ votes
12y
We recently raised several hundred thousand dollars for a MF in Texas. Several BP members joined with us to make it happen. I continue to meet with many BPers offline.
Investor · Louisville, KY · Member since 2011 · 1k+ posts · 1k+ votes
12y
I reached out to a BP member looking to invest in Louisville. My goal was to help them find a good deal that fit their needs. After multiple discussions, that interaction morphed into a partnership. We're still in the early stages, but have closed on a triplex and have an offer out on another one.
I don't think either of us started out with the intention of partnering, but after several discussions and seeing how our interests aligned it organically came to be.
As others mentioned, BP is a great platform for networking with others. However I can't stress enough the value of true personal interactions, both over the phone and in person to truly build a working relationship.
Wholesaler · San Francisco, CA · Member since 2012 · 259 posts · 147 votes
12y
My current business partner reached out to me after reading a few of my posts on BP, that was in May last year. After talking and meeting up a few times we decided that our interests/goals aligned and we started up a marketing copy doing direct marketing to homeowners. We went through some tumultuous times (I quit a job for another, then got laid off 7 weeks later and now I am self-employed fulltime) but in October/November we started to hit our stride.
Since that time, we've closed on one wholesale deal and are a week a half from closing on our first flip purchase. We have plenty of other irons in the fire and truthfully, I would not be where I am today without the partnership. I'll also credit the real estate investment firm I worked at for laying me off (which sounds weird). Nothing like having no income coming in to make you get out there and hustle.
Realtor, General Contractor, and Developer · Redding, CA · Member since 2009 · 7k+ posts · 4k+ votes
12y
@Bryan Hancock You rock!! That's great news. Did you raise it directly on BP or through BP members going to the crowdfunding site? @Jeff Greenberg same question.
We are currently working with a BP member that contacted us. He's involved in a 1031 exchange from a property in southern California he's selling and wants another so cal property, so hopefully we'll be able to work out the details for a Joint Venture! I'll keep you posted.
Real Estate Agent · Orem, UT · Member since 2012 · 164 posts · 49 votes
12y
I've been in the real estate game since 1995 and got on BP a few years ago but then stopped visiting for a while. Last fall I got back on, found a JV partner for a deal off BP - and now we are nearing completion of our first flip together.
BP works! Just keep plugged in and soon the magic will happen for you as well - that is if you haven't experienced success through BP connections yet...
Investor · Santa Rosa, CA · Member since 2012 · 2k+ posts · 7k+ votes
12y
That's an impressive list, @J Scott and it goes to show what happens when you have 12,000 posts...getting involved works! I'm less active so my list is dwarfed by J's but still pretty significant which means that it's just a start and there is more to come. So far I've:
Bought a deal from a BP member that will make over $100K net profit
Raised over $1 million for Multifamily syndications and two single family funds from BP members, most of whom you've never seen post on the site.
Raised a lot of money for loans against property...I've lost count because the loans cycle and repeat as properties sell and new ones are bought.
Got a lot of offline help developing a direct marketing campaign from two BP members
Have a potential Multifamily partnership brewing
Have made a few friends that I would never have met if it weren't for BP
Am developing some lifetime relationships that can one day propel my business to a level I would never have thought possible.
Yes BP works, as others have said...but it doesn't happen automatically, it's up to you.
Real Estate Consultant · Camarillo, CA · Member since 2010 · 2k+ posts · 1k+ votes
12y
@Karen Margrave these were investors I met directly form BP.
I also forgot to mention the many investors that helped me out by walking properties and providing me with reports and pictures. I am very grateful to them.
Developer · Santa Clarita, CA · Member since 2008 · 15k+ posts · 10k+ votes
12y
I would have to go back and check my books for counts, but here is some of my success stories from BP.
Have had at least a dozen BP members fund deals as private investors.
I have partnered with 4 separate BP members on deals.
I have formed at least 5 close friendships with BP members, and consider at least 25 others as friends even though we may have never met in person.
I have networked with hundreds, yes hundreds of BP members offline.
I have referred hundreds, if not thousands of people to BP, mostly while networking at live local RE events. (I am often confused by others as being the owner or partner of BP. I have to correct them and tell them I am merely a very long time member, moderator, and simply a promoter - for free I might add - of the site.
I have mentored at least 10 BP members.
I have learned from countless BP members, thereby increasing my knowledge and success.
I am working on a multi family syndication with another BP member and will likely have several other BP members join the fund.
I have bought countless beers and cocktails for other BP members and had them buy me countless more. Isn't live networking fun!!! :)
There is probably more but that is what I can remember for now.
Solo 401k Expert · Anaheim Hills, CA · Member since 2012 · 18k+ posts · 6k+ votes
12y
I joined BP community couple years ago, but was not active in it until about 3 months ago. Then I learned about BP Forum and started engaging in conversation. I don't do real estate deals, but many of my clients do (my company facilitates self-directed Solo 401k plans). So I just made myself available and was helping people find the answers in my area of expertise. As a result people started contacting me and in the last two months I picked up 9 new clients from BP. I also love to network and was able to connect some people and as a result of that about half a dozen did engage in some kind of deals. I love BP!
Rental Property Investor · Morristown, NJ · Member since 2013 · 27 posts · 12 votes
12y
I am a newbie to BP, only a little over 3 months now. I have found the forums very informative and many people willing to share their experiences as well as extremely helpful. In this short time, I have already become a client of one BP member and am looking to become a client of another. Both of these relationships have been helpful and very beneficial to me, I hope I can bring the same to the table for others.
Real Estate Investor · Mays Landing, NJ · Member since 2013 · 32 posts · 6 votes
12y
J Scott thanks for all the info and value that you provide by being so active on BP. I current connected with someone in my area from BP haven't worked together yet but I keep him in mind when I get a deal that meets his criteria....
Investor · Fort Lauderdale, FL · Member since 2014 · 109 posts · 29 votes
12y
Definitely not near where you all are, but here are my baby steps:
1. As a direct result of BP's mojo, I developed the courage to initiate a group in my area. Crossing my fingers for a good turn out.
2. As a direct result of Podcast 05 with Neal Frankle, I now have life insurance (as of 4pm today). Tomorrow will start working on getting my trust account and Will set up.
3. As a direct result of what I've learned here on BP, I have now found my target area (97% sure) and have started my due diligence on professionals in the area so I can set up my team.
4. I've finished reading ABC's of REI (K. McElroy) and have now started reading The Complete Guide to Investing in Duplexes, Triplexes, Fourplexes, and Mobile Homes (E. Mazier) (which I was really looking forward to).
Involved In Real Estate · Nashville, TN · Member since 2012 · 75 posts · 14 votes
12y
Thanks to BP, I will be doing my first rehab/flip!
I will be buying a duplex in Nashville for $160,000 with some investors. I could wholesale the deal for $180,000 now but that's irrelevant. I will stand to make close to $17,000 once the deal is done and my investors are paid.
I met with a wholesaler about 4 months ago and he said that he had an overabundance of leads. I asked him during the meeting if I could follow up on leads that he could not get to. This deal was one of those leads!
The wholesaler, who is also on BiggerPockets, has been an amazing mentor to me and a great friend. He continues to send me leads and he's been my motivation to start my own postcard campaign.
Wholesaler · Lenoir, NC · Member since 2013 · 297 posts · 127 votes
12y
I have been on BP almost a year know and I love it. I have started my first flip. I also found my first private lender on BP. There is not a day that goes by that I don't learn something new on here. Thanks to @Joshua D. who created BP and all of those that contribute.
Developer · Santa Clarita, CA · Member since 2008 · 15k+ posts · 10k+ votes
12y
One more success story from BP I wanted to add to my original post. While it is not exactly or directly related, BP has helped build my expertise enough to allow me to buy, fix, and sell a single property and clear a seven digit profit margin from it. I am sure that I would have been able to accomplish such a goal without BP, however, I am also sure BP has helped to rush that timeline and get me to such wonderful goals a hell of a lot quicker!!!!
If that is not reason enough to be part of this community (and I mean being active consistently, not just browsing or trolling) I don't know what is.
Investor · Thermopolis, WY · Member since 2012 · 4k+ posts · 4k+ votes
12y
@J Scott I have purchased a rental in Indiana for just under $20K that rents for $530 a month and is actually in a decent area. That would not have happened without the education and connections I made on BP. Even the offer was listed on BP. I had the house inspected, but in addition to that I had it vetted by a person who was born and raised in that town who was kind enough to go look at the outside and give me his opinion on value and neighborhood.
I also partnered up on a flip deal and a buy and hold in Toledo OH. The jury is still out on the fix and flip as it has been on market for 90 days and has not sold we will be doing another price reduction and crossing our fingers. I jumped so far out of my normal comfort zone that I couldn't even see where I left it for awhile. My mind would never have even considered buying a few thousand miles away a few years ago. If I can ever slow down here I plan to go on a road trip to visit many of my new friends and partners in person.
Investor · Sarasota, FL · Member since 2008 · 17k+ posts · 17k+ votes
11y
Just a quick note about the last three deals I've done...all in the past three weeks:
1. Purchased as a wholesale from a BP member (second wholesale I've bought from this person) and partnering with another BP member to renovate and resell. Another BP member is doing a bunch of contracting work for us on the property.
2. Purchased as a wholesale from a BP member (third wholesale I've bought from this person) and resold to another BP member who will be doing their first rehab/flip. Another BP member made an offer on the property as well, but it was already under contract.
3. Partnering with another BP member who found the deal (third deal this person has brought me) -- the plan is that we'll clean it out (it's a hoarder house), resell it to another investor (who knows, maybe someone from BP) and split the profits.
It's safe to say that BP has provided some serious win/win situations for me and those I'm working with...
Real Estate Investor · Hagerstown, MD · Member since 2013 · 276 posts · 107 votes
11y
BP has been very instrumental in helping me learn, digest and network with the many facets of REI. I was able to meet my business partner, Bill Kenny on here. Since we started working together in May 14', we have closed 4 wholesale deals and one owner financed rental.
Last week we closed a deal for a $9,900 profit that took 26 days from start to finish. While these numbers are not earth shattering, it is a major step in the right direction for a relatively new venture.
So, if you are looking for deals in the Hagerstown/Frederick/Cumberland markets in Maryland or Martinsburg, WV...contact us. We would love to work with other BP members.
Developer · Santa Clarita, CA · Member since 2008 · 15k+ posts · 10k+ votes
11y
Just funded a new deal today and $600,000 of it came from private investors here on BP, one of which clear across the country on the other coast! These investors will make a nice passive return and I will make a nice flip profit from the deal. Details will be posted in the thread I have ongoing for this project. Yet another BP success story I am involved in.