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User Stats

207
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764
Votes
Dave Meyer
Pro Member
  • Head of Real Estate Investing at BiggerPockets
  • Amsterdam, NL
764
Votes |
207
Posts

Want to know the best way to build your real estate network?

Dave Meyer
Pro Member
  • Head of Real Estate Investing at BiggerPockets
  • Amsterdam, NL
Posted Mar 14 2016, 08:39

No matter how you’re involved in real estate investing, I’d venture a guess that one of your main goals on BiggerPockets is networking. I know this is true because one of the most common questions we get at BiggerPockets is, “How can I make more connections on BiggerPockets?”

Well lucky for you, there is a simple answer: Post frequently on the forums.

There are dozens of ways to connect with people on BP, but I ran the numbers and the results are clear. People who post on the forums most frequently have the most profile views, and the most colleagues.

That makes sense, right? It doesn’t take a numbers whiz to see the connection: if you post, and build a reputation as a helpful and knowledgeable member of the community, people are going to want to connect with you.

And connections mean more deals seen, partners identified, and clients secured. A.K.A more money.

Still not convinced? Here’s some statistical nerdery to backup my claims:

I grabbed data for the 1,000 most-visited profiles on BiggerPockets. I then looked at correlations between profile views and forum posts, post votes, and number of colleagues. But before we get into that, a quick refresher on correlation in case you haven’t kept up on your stats knowledge since high school.

Here is the dictionary definition of correlation: a relation existing between phenomena or things or between mathematical or statistical variables which tend to vary, be associated, or occur together in a way not expected on the basis of chance alone.

In english? We’re measuring how changes in one variable affect changes in a second variable. So in our case: how does posting on the forums influence the number of profile views, or number of colleagues a member has?

And the reason stats nerds like me love correlation is that it is unit-agnostic. It tests the strength of a relationship between two variables, no matter if you’re measuring inches, pounds, housing prices, or forum votes. It’s a handy little tool.

I won’t bore you with the math to derive correlations, but I will explain a bit on how to interpret them. First, correlations are always a number between -1 and 1.

As you can see in the graphic above, a correlation of 0 means there is no linear relationship between the two variables (a change in variable A has no effect on variable B). A correlation of -1 means there is a very strong correlation, but the relationship is negative (one variables goes up, the other goes down). Lastly, a correlation of 1 means a strong positive relationship (both variables move together in the same direction).

So, back to how to make more connections on BiggerPockets. I ran a correlation matrix for the four variables: posts_count, profile_hits, votes_received, and colleague_count. Here are the results.

For our purposes we really just want to look at the numbers in BOLD right now.

profile_hitsposts_countvotes_receivedcolleague_count
profile_hits1.00
posts_count0.671.00
votes_received0.710.871.00
colleague_count0.700.540.491.00

Now that you’re an expert in correlations, we can see how strong these relationships are. 

As you can see the correlation between posts and profile hits is .67, a really strong positive relationship! This means that the more posts you have the more times people will look at your profile.

The correlation between votes and profile hits is even stronger, at .71. Meaning that if you write such great forum posts that people vote for you, you’re even more likely to get profile hits.

But what good is a profile view without a connection? Well, the correlation between profile hits and colleague count is .70, also really strong. More profile hits means more colleagues.

So in short: more posts = more profile views = more colleagues.

I also did some regression analysis, which I can’t explain in a single forum post, but trust me, it’s really cool. What I discovered is that 50% of your colleague count can be attributed to the number of forum posts you have. That’s crazy! There are tons of variables that contribute to how many colleagues you have, but one variable reigns supreme: forum posts.

Posting on the forums is the single best way to build your network on BiggerPockets.

So you want to make more real estate connections, find partners, and make more deals? POST!

Stay tuned for a follow up post on the monetary value of BP connections! 

If you have any questions about posting, correlations, statistical nerdery, or have some ideas for other data studies we should run, let me know! 

User Stats

378
Posts
184
Votes
Charlie DiLisio
  • Investor
  • Lake Worth, FL
184
Votes |
378
Posts
Charlie DiLisio
  • Investor
  • Lake Worth, FL
Replied Mar 20 2016, 10:04

Makes perfect sense.  The light bulb just went off big time.  I love this forum and the helpful advice everyone is sharing.  I'm reading every day now in here and contributing my knowledge to help others.  It's win-win.  Thank you BP.  Do we have an in-depth video on the calculators per chance.  I am old school and computer challenged but learning by doing is the best way by far.

User Stats

2
Posts
0
Votes
David Cass
  • Manchester, MO
0
Votes |
2
Posts
David Cass
  • Manchester, MO
Replied Mar 20 2016, 17:48

Thanks for the analysis! 

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User Stats

14
Posts
2
Votes
Scott DeFries
  • Bethesda, MD
2
Votes |
14
Posts
Scott DeFries
  • Bethesda, MD
Replied Mar 20 2016, 20:28

Thanks for the post! I am new to BP and I'm learning my way around.  Always helpful to see tips and tricks from the veterans :)

Account Closed
  • Rental Property Investor
  • Denver, CO
34
Votes |
109
Posts
Account Closed
  • Rental Property Investor
  • Denver, CO
Replied Mar 20 2016, 21:32

this couldn't be more true. After reading this post less than a week ago I started becoming more active on the forums and have already recieved a number of colleague requests and PMs in response to various posts of mine! 

I know it's not much but as a newbie ALL progress is exciting

User Stats

1,179
Posts
471
Votes
Steve Bracero
  • Real Estate Agent
  • Westboro, MA
471
Votes |
1,179
Posts
Steve Bracero
  • Real Estate Agent
  • Westboro, MA
Replied Mar 21 2016, 09:33

Nice post! I am new to this site an the forms- everyone is very h elpful so far and the community is great! 

User Stats

40
Posts
9
Votes
Kevin Olson
  • Danvers, MA
9
Votes |
40
Posts
Kevin Olson
  • Danvers, MA
Replied Mar 21 2016, 12:19

@Dave Meyer Thanks for the analytic, I'm sure the long time forum contributor's can attest to this form of networking and contribution helping their business tremendously. 

User Stats

12
Posts
4
Votes
Mike Cardona
  • Antioch, CA
4
Votes |
12
Posts
Mike Cardona
  • Antioch, CA
Replied Mar 21 2016, 12:28
Originally posted by @Jasmine Dixon:

Thanks for this information. This discussion has a lot of useful tips. I am still in my learning stage soaking up information. I want to be as knowledgable as possible in a few key areas before I fetch my first deal. As a beginner or learner how do I contribute to someone experienced? How do I appear useful to encourage others to network with me? How can I help them? Is this something that will come as I grow in business? Is their anything more I can be doing to build relationships? Any one in Chicago that has a club ? Or open to allow shadowing? Any info is great! Thanks!

 Attend local real estate meet ups and show your enthusiasm and passion for real estate investing. Build relationships with people and as those relationships grow, ask them what they're struggling with and see if you can help them in any way (for free)! The Beginner’s Guide to Highly Effective Real Estate Networking

An awesome read is "Never Eat Alone" by Keith Ferrazzi, great book about providing value to others and building genuine relationships. 

User Stats

14
Posts
5
Votes
Mark Keller
  • Real Estate Agent
  • Milford, MA
5
Votes |
14
Posts
Mark Keller
  • Real Estate Agent
  • Milford, MA
Replied Mar 21 2016, 15:43

Great post. Thanks for bringing back statistics for us all. Oddly, I like and did well in statistics even though I don't consider myself a numbers guy.

User Stats

5
Posts
2
Votes
Angie Holdcroft
  • Investor
  • Machesney Park, IL
2
Votes |
5
Posts
Angie Holdcroft
  • Investor
  • Machesney Park, IL
Replied Mar 21 2016, 17:10

Thanks for the info! It defiantly make's a lot of sense. We are new to BP so hopefully we can met members to help out and they can help us as well just joining in

User Stats

26
Posts
5
Votes
Jasmine Dixon
  • Chicago, IL
5
Votes |
26
Posts
Jasmine Dixon
  • Chicago, IL
Replied Mar 21 2016, 17:57

@Mike Cardona

Thank you Mike for this advice. I have already started applying these things. I've joined multiple REI clubs in the past few days. Some events coming up and when they do I will attend. I will definitely take your advice to see what others needs are and offer free help, I am currently building my reading collection and will add your recommended books.

Thanks!!

User Stats

176
Posts
88
Votes
Cailyn Aune
Pro Member
  • Tacoma, WA
88
Votes |
176
Posts
Cailyn Aune
Pro Member
  • Tacoma, WA
Replied Mar 22 2016, 06:29

Dave Meyer - as a fellow stats nerd- bring it on! I could read stuff like this all day! Thank you for encouraging us all.... We get out what we put in!

My mind immediately wants to see the correlation between number of posts and real estate success, not just colleagues, etc. .... Obviously a FAR harder stat to come up with. I have no doubt the trend would continue.... The more you post, the more connections you make, the more deals you make. But those stats would be super provoking to read!! :)
Thanks again Dave!

User Stats

45
Posts
3
Votes
Louis Simmonsjr
  • Property Manager
  • Dallas, TX
3
Votes |
45
Posts
Louis Simmonsjr
  • Property Manager
  • Dallas, TX
Replied Mar 22 2016, 07:40

I guess my freest striae with Bigger packet, I able try to begin no ideal am stand and look around,but i see ground zero no houses , and foreclosed on the broad around the houses ed  can anybody tell me how to do it , it just get the bill-broad or call location ?

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User Stats

45
Posts
3
Votes
Louis Simmonsjr
  • Property Manager
  • Dallas, TX
3
Votes |
45
Posts
Louis Simmonsjr
  • Property Manager
  • Dallas, TX
Replied Mar 22 2016, 08:01

I sure will make work that lot read it and paper work that really gooood job to do it !

User Stats

25
Posts
5
Votes
Paris Akins
  • Rental Property Investor
  • Beaver County Pa.
5
Votes |
25
Posts
Paris Akins
  • Rental Property Investor
  • Beaver County Pa.
Replied Mar 22 2016, 11:08

Wonderful information I love BP community it's giving me more and more confidence to step out to invest!!!!

User Stats

258
Posts
176
Votes
Kay Kay Singh
  • Rental Property Investor
  • Fort Wayne, IN
176
Votes |
258
Posts
Kay Kay Singh
  • Rental Property Investor
  • Fort Wayne, IN
Replied Mar 22 2016, 12:02

@Dave Meyer What a great data .The data is very usefull to make more and more money. Good job.

User Stats

35
Posts
11
Votes
Rudy Munoz
  • Real Estate Agent
  • El Paso, TX
11
Votes |
35
Posts
Rudy Munoz
  • Real Estate Agent
  • El Paso, TX
Replied Mar 22 2016, 12:18

Just clears a lot of things up, I'm assuming for those who aren't frequently posting on here and ask the question "why am I not meeting/connecting with people on BP" or "BP just isn't what it seems to be, it's too hard". It's another tool, it's another utility, and coming in here as a newbie I recognize that. UTILIZE YOUR TOOLS TO THEIR FULL EXTENT.

User Stats

5
Posts
1
Votes
Joe Thomas
  • Real Estate Agent
  • Tampa, FL
1
Votes |
5
Posts
Joe Thomas
  • Real Estate Agent
  • Tampa, FL
Replied Mar 22 2016, 13:50

As a new member of the BiggerPockets community this is very valuable information for beginning my networking activities. 

User Stats

280
Posts
88
Votes
Christine Mwai
  • Investor
  • Alabaster, AL
88
Votes |
280
Posts
Christine Mwai
  • Investor
  • Alabaster, AL
Replied Mar 22 2016, 20:31

Great post!!.. I've been wondering the best way to go about it as a newbie to BP.. I'm not brand new to investing, but very small scale. I hope I can offer my insights on what I've learned  and network network network  network.. ..there is so much to share and learn.. great post!

User Stats

58
Posts
7
Votes
Jorge Hernandez
  • SFR & Multifamily
  • Jersey City, NJ
7
Votes |
58
Posts
Jorge Hernandez
  • SFR & Multifamily
  • Jersey City, NJ
Replied Mar 23 2016, 03:30

Makes sense. I see many pros selling "systems" and wonder "How are they selling this when X years ago they were in my shoes?"

Education, Education and application. Makes sense. 

User Stats

130
Posts
40
Votes
Donald Cooley
  • Railroad Conductor / Future investor
  • New Baltimore, MI
40
Votes |
130
Posts
Donald Cooley
  • Railroad Conductor / Future investor
  • New Baltimore, MI
Replied Mar 23 2016, 06:31

Wow, what a great piece of information...I need to get more active on these forums, not only to learn, but network and really grow my business and take it to the next step and reach my goal of financial freedom! 

Thanks

User Stats

79
Posts
21
Votes
Kadian F.
  • Orlando, FL
21
Votes |
79
Posts
Kadian F.
  • Orlando, FL
Replied Mar 23 2016, 09:17

Great post! Thanks for providing numbers to support what many of us believe instinctively.

User Stats

9
Posts
6
Votes
Tonya Cox
  • Southaven, MS
6
Votes |
9
Posts
Tonya Cox
  • Southaven, MS
Replied Mar 23 2016, 09:31

Hi Every one, I'm new to the BP and I 'm reading more than anything, but I want to be an active member, learn as much as I can and share as I go.

You'll be seeing me around!

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23
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Victor Crispin
  • New York City, NY
9
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23
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Victor Crispin
  • New York City, NY
Replied Mar 23 2016, 11:55

Great deal of information @Dave Meyer

Account Closed
  • Residential Real Estate Broker
  • Mount Airy, NC
7
Votes |
12
Posts
Account Closed
  • Residential Real Estate Broker
  • Mount Airy, NC
Replied Mar 23 2016, 12:23

Bigger pockets is prob the best places to learn about REI without working in the industry IMO

User Stats

54
Posts
35
Votes
Andrew Magoun
  • Investor
  • Yarmouth, ME
35
Votes |
54
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Andrew Magoun
  • Investor
  • Yarmouth, ME
Replied Mar 23 2016, 14:55

So more colleagues = more money. Got it. How do you determine who you accept as colleagues? Anyone that asks to be one? Do you "vet" them to make sure you want to be connected to them?