Should we go to Bpcon?

Question

My Husband and I are just getting started on our journey. Our goal is to start with 1st rental next year. I wanted to get the opinions of others to see if it is worth going to now. We are currently reading books, podcast and have joined our local investing group. I just don't want to get overwhelmed and get stuck in the analysis paralysis stage.

I would love to hear some thoughts. And we just happen to be a short drive away in Tampa, Fl.

Jorge Vazquez · Answer

Joyce, I've never been to BPCON myself, but I've been investing in the Tampa area for over 25 years and have been involved in more than 3,500 real estate transactions. If it's local and the cost isn't a burden, I'd probably go for the networking alone. That said, don't feel like you need another seminar before getting started. You're already reading, listening to podcasts, and attending local investor meetings. My biggest piece of advice is to stress-test every property you analyze. If the numbers still work with higher vacancies, unexpected repairs, and realistic expenses, and it still cash flows, then go for it. At some point, taking action on your first deal will teach you more than any conference ever will.

Robert Ellis · Answer

The part that stood out to me was "I just don't want to get overwhelmed and get stuck in the analysis paralysis stage."

I've been to BPCon, and for me the value wasn't the presentations. It was the conversations between sessions. A lot of real estate can feel theoretical when you're reading books and listening to podcasts, but spending a few days around people actively buying, managing, and selling properties makes it feel a lot more real.

One thing I noticed afterward was that I came home with fewer questions, not more. Instead of wondering about every possible strategy, I had a much clearer picture of what I actually wanted to pursue and what I could ignore.

Since you're only a short drive from Tampa, the risk is pretty low compared to someone flying across the country and spending thousands. If your goal is to buy your first rental next year, I'd look at it less as a conference and more as a way to accelerate your learning curve.

What type of first rental are you and your husband hoping to buy?

Chris Seveney · Answer

This will be my first BPCON, and I am heading there for the networking component.

It is my understanding that there is typically a very large contingent of people who attend the conference, so it is always good to network with people that are in the space. and here what others are doing. For those attending first time, go in with a plan, write down your goals or what you want to accomplish at the event so you can then focus on what it is you are there to do. They can be overwhelming and lots going on and trying to do 100 things rushed is not better than focusing on 3 things.

Joyce Moore · Answer

@Shiloh Lundahl Thanks for your input! Guess we will be taking that 1 hour drive to Orlando. Sounds like it is worth the investment to attend.

Thanks again!

Joyce

Shiloh Lundahl · Answer

Hi@Joyce Moore Even though I won't be speaking at the BiggerPockets conference this year, I still think there is a lot of value to gain from it. I've gone to 4 of the BiggerPockets conferences over the last few years and I have built good relationships with several people I have met there. The relationships really are where the value is at.

So come and hopefully I will see you there.

Travis Main · Answer

Hey Joyce,

It sounds like you and your husband are off to a great start. Honestly, one of the biggest mistakes new investors make is spending so much time learning that they never actually take action. The books, podcasts, and local investor groups are all valuable, but at some point you'll learn more from analyzing and buying your first deal than you will from consuming another dozen hours of content.

Since BPCon is in Orlando this year and you're only a short drive away in Tampa, I'd definitely consider going if it's within your budget. Being around thousands of investors at different stages of their journey can be motivating, and sometimes the conversations you have in the hallways or networking events end up being more valuable than the sessions themselves.

I live here Orlando, Florida and plan on attending, so maybe I'll see you there. Either way, keep doing what you're doing, stay focused on your goal of getting that first rental next year, and don't let the search for the "perfect" deal keep you from taking action when a good one comes along.

Dan H. · Answer

I have been to quite a few BOCons but have not yet decided if I will be going this year:

Pros:

- I leave motivated

- I usually make a significant connection.   One good connection can justify the expense/effort.

- I still typically get some value from a couple of the sessions

Cons

- my least favorite BPCon was Orlando BPCon.  From the reaction when Orlando was announced as this year’s location, I was far from alone.

- RE investing has never been more challenging.  I believe the attendance is likely to be way less than the last Orlando BPCon.   The reduced attendance may be a pro and not a con.

- my current focus being sophisticated value adds implies it is unlikely I will get anything from any of the sessions that applies to my current focus.

- I was at Orlando just a few years ago (for BPCon).  It round be nice if the conference was somewhere that I have not been to before or at least have not been to recently.  I had the same issue at last year’s BPCon as I had been to Las Vegas ~6 months before the conference.

I hope to make a decision this week.

I think the OP should go.   It will be cheap due to proximity.  They are likely to get significant motivation.   There is better chance for them to make a key contact than there is for me.  Similar for value of the sessions.

Best wishes

Joyce Moore · Answer

Thanks for the reply @Robert Ellis. We want to start with single family homes...not in fl. Lol.

We figured Orlando is only a skip and a hop from us. Thanks for the input. Much appreciated!

Joyce Moore · Answer

Thanks! Much appreciated.  Will continue to think on it!

Should we go to Bpcon?

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