Posted about 4 years ago

The simple guide to getting started on BP

I have challenged myself to post 1 blog post per day here on BP for the next 30 days. I do not think running out of material to write about will be a problem for me. I have chosen to write a response to all the questions I see new members post on a daily basis. The question of the day is:

"I am new to BP where do I start?" Let's get into it.

Stay out of the forums(except for an introduction of yourself)

Yea I said it, stay out of the forums. Over the years the BP forums have become so colossal, filled to the brim with so many opinions, it is hard to separate gold from garbage. If you are new to the world of investing, you will not be able to distinguish between the two. Your information needs to be targeted, and distraction free.

Read the free guides under the "Education" tab.

If you have read my blog post that shares some advice for new investors you know that I suggest picking one area of investing and devote all your time to mastering it. 

(click here to read)

These guides will give you basic info sparking questions that will guide your learning with targeted information while keeping you free of information distractions of the forum. Plus, they are free! Can't get any better than that :) More targeted info can be found in the "member blogs" "BP blog" and the "BP Podcast."

When you finally make it to the forums;

Use the "search" bar more than the "start a discussion" button.

I always say "there is no such thing as a new question." The answers are out there if you put in the work to find them. Someone has overcome the problem you have now. So instead of starting a topic with the question:

"How is the real estate investing market in the Northern Virginia area?"

Focus on learning something new, and search "How to analyze markets." Then get to learning.

Learn to fish, don't just ask someone to feed you.

Now for my last suggestion:

Come back to the website consistently!

You have goals. Commit to consistent action. I have seen so many people who say "I will work on investing in my spare time" Then years pass before they have any significant result if any at all. Do not get caught up in the whirlwind of life. Devote at least 1-2 hours a day when you take baby steps to reach your investing goals. One action taken every day will result in significant gains over time.

With that, I will end this post. As always, if you have any questions or just want to connect. Do not hesitate to reach out.

Comments (16)

  1. Thank you @Bandon L. I  new here to BP and I found this post really helpful. Thanks for sharing!

  2. I'm new to BP so this is very helpful to read as I was getting over whelmed with the amount of information. I wanted to thank you for the tips and I look forward to reading more of your posts. 

  3. Thanks for the reminder to focus on a few hours a day to investing. I agree that life can get away from us and suddenly it's years later with little to no results. I am going to commit at least 1-2 hours a day to focus on learning, researching and planning toward my goals. I'm really looking forward to my future life. =) Thanks!!

  4. Great advice on keeping out of the forums. I've found that on other sites too (financial and stock investing sites). The information can sound very convincing and correct but may not be good for a beginner. As we are almost done with 2018, my goal for 2019 is to purchase my first investment rental property for buy and hold. I'm still going to read and learn about the topics and areas that are unrelated to my goal, but my main focus will be on my first property.

  5. Thanks a lot, Brandon. BP is a little overwhelming at first. It is very easy to lose focus on your subject of interest if you get distracted by the forums. I ask questions in the forum, but I try to keep my questions focused on one subject. Also, I don't attend webinars or podcasts that are not about some aspect of what I do. This is very helpful thanks I will definitely follow your advice.

  6. Hi Brandon

    Thank you for that. Reading it makes me more calm and focused!

  7. Thank you @Brandon L. this is all great!!

  8. Thanks for sharing! It is very overwhelming to navigate the BP website. I too got caught up in it and have learned to pace myself. I set a few new goals for the next few months beginning September 2018

    1) Complete the Real Estate license classes and become licensed; this has helped educate me in real estate to start my journey; hopefully will get the license by Christmas 2018, Ho Ho Ho! Also, in my class, I have networked with one investor and one contractor! 

    2) Download podcasts on a thumb drive and listen while I drive (I drive for a living) the company cars have USB ports; currently, I have downloaded and listened to podcasts #1 thru #70 with Brandon and Josh.

    I also have changed it up this past week and downloaded all of The Money Show podcasts with Mindy Jensen (#1 thru #49) and finish the first 10 (on 11/2/18) and hope to be caught up by Nov 8. I don't watch the podcasts because it's a driving distraction; I'm able to focus more listening while driving; I call Real Estate Radio.

    3) Downloaded the app for my phone so instead of Facebook, the goal is to read a new real estate topic on downtime.

    4) Goal to use 1 calculator a day to analyze deals and become familiar with them! So far I average 4 times per week.  

    5) Attend or Watch a weekly webinar if time permits.

    6) Hopefully, for the New Year 2019, I will have my first real deal!

    Best wishes everyone!

  9. Thank you! I actually like the idea of searching how to analyze markets.

    Something I have no idea how to do at the moment. Thank you for this post.

  10. I have to agree with you. Being new to the real investing world it is definitely overwhelming to read so much information at a time and try to decide what is the truth or not, specially in the forums and internet. But thanks for sharing your thoughts and making feel more at ease and focus on what needs to get done. 

  11. Thank you for the great advice, I’ve realized that there is so much information to know about real estate and investing in real estate it would take a lifetime to learn everything before I got started. So I will definitely take all things real estate in manageable chunks. Thank you again. 

  12. Thank you for this. I created this account less than a week ago and got caught up in the forums and become overwhelmed...I am now starting the Ultimate Beginner's Guide, reading one of Brandon Turner's books, and watching podcasts all while trying to save up for the first down payment.

  13. Thank you for the information. I am new to this as an investor with a potential partner/contractor. I was looking for information about forming our partnership and first steps.  This site, the blogs and podcast are an amazing resource.

    1. I am glad you found it useful Bonnie, and thank you for taking the time to share your thoughts :)

  14. Thank you for the tips Brandon!

    1. You're welcome David! Thanks for taking the time to leave a response. It's always appreciated :)