Rental Property Investor · Gilbert, AZ · Member since 2016 · 3k+ posts · 4k+ votes
There are so many people who respond to posts here on BiggerPockets and so many verying opinions. How do you determine for yourself who to listen to?
Do you do what most people do and give credit to those who agree with you and discredit those who do not? Do you take everything that people say as valid opinions? Do you do what I do and look at their profile to see how many deals they have done before you determine whether or not to consider their opinion? If I look at someone’s profile and there is nothing on it that tells me about this person then I don’t tend to take into consideration their opinions because I have no idea about the person or their level of knowledge or experience.
How do you determine what opinions to learn from or adopt and which to discard as you read through the forums?
Investor · Asheville, NC · Member since 2017 · 506 posts · 404 votes
8y
I mostly just consider how thoughtfully it's written and whether it makes sense. If they present a good argument, then that's usually good enough for me. Besides, it's an opinion, so there may not even be a right or wrong answer and if there is, I probably won't find out until after I act on the one I chose. lol
Rental Property Investor · St. Paul, MN · Member since 2016 · 3k+ posts · 3k+ votes
8y
I read what they have to say. Even newer investors have quality things to say. If it comes from a top producer, then it can hold even more weight, but overall it is the value of the content.
What cracks me up is when someone posts a question (usually a newbie) and then argues with the good advice that's given. By all means, ask WHY someone answers a particular way, don't take anything at face value, but realize sometimes the best advice is something you don't want to hear.
Person: "I want to do this super risky thing. What does everyone think?"
Everyone: "THAT'S A TERRIBLE IDEA!!!"
Person: "Yall can't hold be back; I'm going to achieve my dreams anyway!"
Hahaha so, I guess my point is, when vetting advice, be open to the people that disagree with you. Those are often the ones you can learn something from.
don't forget the "you don't know my market, you can get (insert crazy deal) easily"...... yet they make posts asking how to get them.
Passaic, NJ · Member since 2017 · 65 posts · 42 votes
8y
Like everything else...It depends! Some things even an amateur who never read a real estate book and doesn’t know what amortization can give an opinion on or make an educated guess. In matter of fact sometimes it’s the outside and out of the box position that affords a perspective that could’ve been overlooked by someone who “already knows everything.” Obviously, more complicated questions and more advanced issues an amateur wouldn’t even be able to pretend like he knew what he was talking about.
I once heard from someone who owns a couple big malls, “a smart man is someone who hears all the opinions and then decides for himself”
I just look at the whole picture. An active profile with a lot of posts probably tells you something. However, if its something which makes sense to me I won’t discount it no matter how inactive the person is.
Broker · Phoenix, AZ · Member since 2015 · 351 posts · 273 votes
8y
Be careful following any legal advice online. I often read posts here that give excellent advice...for their state. Following it in another state will get you in a heap of trouble. While some real estate law is federal, much of it is state, county, or municipal. Just like real estate, real estate law is local.
Property Manager · New York, NY · Member since 2016 · 388 posts · 90 votes
8y
I do , once I got a message from a 12 years old to work with me finding some local deal.
What would you do in this, will you write back and partner up with 12 years old?
Rental Property Investor · Sioux Falls, SD · Member since 2015 · 9k+ posts · 18k+ votes
8y
@Shiloh Lundahl I do look at profiles occasionally, but that information can be easily fabricated. Like the old Abraham Lincoln quote says, "don't believe everything you read on the internet."
Just because someone has done 50 deals, doesn't mean they are giving good advice. Guru's are the best example of that. People get roped into spending thousands to get advice from an "expert", when in reality the guru is making more money giving advice that actually practicing the business.
For me credibility comes by reading the arguments and getting to know an individual by what they post. It is not a matter of siding with people I agree with. In fact, there are people I respect on this forum that I often don't agree with. I believe you grow more as an individual by surrounding yourself with people you don't agree with. You have to change your outlook to change your future.
All that being said, there are people I disagree with that have no clue what is going on. Lets just say, they don't give an entrance exam to open an account on BP.