What are New ‘Investors” Looking For When They Come to BP?

Question

I, like many used to think “newbies” posted questions or asked for “help” to obtain the best advice from experienced investors, obtain guidance on strategic alternatives, or get a qualified opinion on whether the latest hot guru was worth the $40k price of admission.

But, I was WRONG.

No, none of those reasons are why newbies come to BP.

They don’t want to find out that their “revelation” about how to invest has been tried about 10 million times - with limited success

They don’t want to learn that without capital, knowledge and experience their willingness to commit weekends is near useless

They don’t want our opinion that they should skip trying to wholesale and spend some time learning as a licensed agent

They don’t want advice that has them taking classes at community colleges or learning real estate law, finance, or principles.

So WHAT do they seek when they come to BP

They want comfort, encouragement. and to be told their thoughts are correct. Doesn’t matter if they’re in left field; doesn’t matter if they’re about to throw $40k they don’t have down the drain; doesn’t matter that they’re about to send an already shaky marriage into crisis mold; no, they want a “warm and fuzzy”, an “atta boy”, told they’re headed for wealth and success, even if it’s a total lie.

So it struck me - THIS is what the guru’s sell. And truth and reality have absolutely no room in their world

Don Konipol · Answer

It does begin to feel that way.  Actually, the majority probably are somewhat reasonable in their expectations and although their questions may smack of naivety, they just want some knowledge at to real estate investing.However, for the minority that come to the forum with an “attitude”, they seem to possess all the negative characteristics of entitlement.  I think that if they’ve invested, either monetarily or emotionally in a particular “money making” system, then they can’t handle any negative information about the “system”, methodology and or strategy that they’ve emotionally and or monetarily invested in.  It seems like they regard our negative opinion of their strategy as an attack on their person.  They project that they are being belittled, marginalized, etc.  Those who act that way are (imo) far from being ready to handle the stress, anxiety, and occasional disappointment of the career real estate investor.  Better those types should invest in REITs.

Jonathan Greene · Answer

They refuse to even be led to water. They want someone to bring them Gatorade, a cool towel, and a snack mix while they put their feet up and earn passive income for years without knowing a single thing or listening to anyone except people who don't know anything.

Jonathan Greene · Answer

This is exactly their main problem. When they don't take advice and call it criticism or call us mean, what they are really doing is putting a light up into the sky for all of the gurus to come collect them and their money. For them to come yes them along and sell them a project in the Everglades and a coaching program that was xeroxed from Carlton Sheets.

People are just babies and only want to hear how good they are even when they come to the forums because they don't know anything. It's so tiring to keep having to go back and forth with their fragility when there is literally no reason for any of us to answer them unless we are trying to help them.

Nathan Gesner · Answer

LOL! I saw your headline and came in to say the same thing. What most of them want is for someone to give them all the answers and do all the work for them.

It's the same thing with mentors. People want a mentor who tells them what to do at every turn and makes them an instant millionaire.

Peter W. · Answer

In general people want their feelings stoked and entertainment. Generally, we don't want advice or technical answers. People who aren't tire kicking tend to ask specific actionable advice which is unlikely to be answered in a google search or by chatGPT.

I came to try and figure out how much of a hassle real estate was likely to be before jumping in and what kind of returns I should be attempting to get.  Also to get ahead of potential problems I'm likely to encounter.  I stayed so I could pontificate.

Scott Mac · Answer

You can lead a horse to water but you can't make him drink.

Just my 2 cents.

Don Konipol · Answer

maybe so -  it probably just seems like the ones we describe above stand out.  Interestingly, it seems many poster who do have a lot of experience agree with me.

Scott Trench · Answer

I think you are too harsh, @Don Konipol. Many newbies do what you talk about, but not here on BP. The newbies who want to purchase snake oil find that on other platforms. I find newbies here to be receptive to and grateful for feedback. They are realistic, humble, and ready to learn/hustle.

There are, however, very notable exceptions.

Jonathan Greene · Answer

Most people want their ego stroked. What doesn't make sense is walking into a room of experts and saying I don't know what I am doing, but this is my plan, what do you think?, and then rejecting the answers because they don't align. It's mild insanity and recipe of long-term failure.

If I counted up the amount of times I could have told an investor I told you so because I gave them sound advice and watched them not follow it and lose money, I could fly to the moon private.

V.G Jason · Answer

They want instant gratification.

It's a cold world though, you ain't getting that without a cost.

What are New ‘Investors” Looking For When They Come to BP?

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