BP "Investors" & Getting Started

[Andrew Harrell]

Over the past 6 months or so I've had many "Investors" with accounts here on BP reach out with interest in buying properties in the Chicagoland area. The Chicagoland area commonly refers to the City, the suburbs in Illinois around Chicago, and parts of Northwest Indiana. As a investor, small but an actual investor as I own a 2-unit and SFH and also a REALTOR in both states, I see a lot of properties and analyze a decent amount as well. So many calls and messages I get are people looking and saying they are ready to buy yet to find out they want to only seller-finance or BRRR and when given properties that make sense, ghost me or say the numbers dont work for them... if it's not the right property that's cool, if you want to go a different route that's also cool, really no hard feelings. Maybe it's me but from reading forums, hearing the way in which the podcasts content quality has changed over the past several months I'm curious to know is this the new norm of BP...

I'd love to know other peoples thoughts but has the interest of investing and accessibility to hear/interact on this great tool/resource in BP become the preferred activity versus utilizing valuable content and acting on it? Is this now the Facebook of real estate versus the LinkedIn of real estate for analogies sake.

Keep up the great work who are using this terrific platform to make meaningful connections and build their wealth while bring the community up with them.

[Jack Medford]

The BRRRR strategy is so heavily talked about and promoted here on BP and the podcast that everyone now knows about it. From my experience, this has led to a lot of newbies coming into real estate and introducing themselves as such, "Hey, yeah, um... I'm new to real estate and just learning things. I'm looking for a BRRRR property for my first deal..." In fact, I was one of these newbies about 1.5 years ago. Problem is everyone is looking for a BRRRR, newbies and experienced alike. These newbies find out that it isn't as easy as it sounds on the podcast (What? I have to work and stay consistent over many months and years to get deals?) Most get discouraged, and a small few stick it out and keep going.

In addition, we are at (or very near) the top of the current cycle. At least according to all the experts. The top of the cycle in real estate always brings a bunch of newbies looking to make money without much effort. Then they disappear when things get hard. I think our current place in the cycle has more to due with the quality you are noticing here on BP rather than BP becoming a real estate version of Facebook. I guess time will tell though.