Poll: How Much Money Have You Lost Due To Bigger Pockets?

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Poll: How Much Money Have You Lost Due To Bigger Pockets?

Engelo RumoraBusiness Member
Investor · Toledo, OH · Member since 2013 · 4k+ posts · 2k+ votes

Ok Ok moderators.

Before you go removing my post, I would like to say that Bigger Pockets has been one of most influential online platforms to my companies success. It's also played a major role in me getting recognition as a real estate investor and entrepreneur.

So a BIG thank you to the entire Bigger Pockets team.

Now, I recently read a post about “How Much Money Has Bigger Pockets Made You?”. So I thought it would be a good idea to counter that post by asking an equally important question, how much money have you lost due to Bigger Pockets? Of course, we all know that Bigger Pockets wasn’t the direct cause for your losses and maybe you should take a long hard look at yourself first before blaming others.

So without naming any names, I would love to know, how much you lost and how? Please choose from the below:

Over $1,000

Over $10,000

Over $100,000

Over $1,000,000 - Seriously…???

Real estate is a roller coaster and sometimes you loose money. In my opinion, it just comes down to making more than you loose.

ps: I’ve lost $10,000+ in the past due to some investors wasting my companies time, money and resources.

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Scott Harper
Investor · Longwood, FL · Member since 2015 · 221 posts · 130 votes
9y

I lost  $20.00 because a friend bet me that Josh Dorkin was so cool and I said no , Brandon was way cooler. He said "sweet" So we tossed a coin and he won so argument settled.   So, Brandon owes me $20.00

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  • Scott Harper
    Investor · Longwood, FL · Member since 2015 · 221 posts · 130 votes
    9y

    I lost  $20.00 because a friend bet me that Josh Dorkin was so cool and I said no , Brandon was way cooler. He said "sweet" So we tossed a coin and he won so argument settled.   So, Brandon owes me $20.00

    24Reply
  • Joshua D.
    Investor · Columbus, MT · Member since 2013 · 1k+ posts · 1k+ votes
    9y

    @Engelo Rumora

    Good question! sometimes we focus too much on the winners and forget to paint the whole picture. 

    I think i spend too much time reading BP so I might loose money cuz i'm not working on deals... but then again i am learning new stuff every day.  No way to put monetary value on that. 

     At the end of the day BP has made WAY more money for me than it has lost!  With out it I would still be living in deal # 1. 

    8Reply
  • JD MartinBusiness Member
    Moderator
    Rock Star Extraordinaire · Northeast, TN · Member since 2015 · 10k+ posts · 16k+ votes
    9y

    I get the point of the post but I'm unclear on the premise - is the title just to snag people, and we put down how much we've lost in RE? Or do you really want to know how much people have lost and place at least some responsibility on what they've read/asked/done/learned here?

    Either way, I'll play. In RE in general I have lost 6 figures before. That was many years ago, when I wasn't quite as smart (or financially savvy, or conservative, or frugal, or...) as I am now :D . I haven't lost any money from BP. Overall, I am way ahead on the gains vs. losses, but I think your thread has a lot of merit - people do need to understand it's not all rainbows and unicorns. 

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  • John Thedford
    Real Estate Broker · Naples, FL · Member since 2013 · 9k+ posts · 6k+ votes
    9y

    I've lost more sleep than money........

    15Reply
  • Engelo RumoraBusiness Member
    OP
    Investor · Toledo, OH · Member since 2013 · 4k+ posts · 2k+ votes
    9y
    Originally posted by @Scott Harper:

    I lost  $20.00 because a friend bet me that Josh Dorkin was so cool and I said no , Brandon was way cooler. He said "sweet" So we tossed a coin and he won so argument settled.   So, Brandon owes me $20.00

    Only $20 mate

    You need a player a higher risk game than that

    At least $2,000 hehe

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  • Engelo RumoraBusiness Member
    OP
    Investor · Toledo, OH · Member since 2013 · 4k+ posts · 2k+ votes
    9y
    Originally posted by @Joshua D.:

    @Engelo Rumora

    Good question! sometimes we focus too much on the winners and forget to paint the whole picture. 

    I think i spend too much time reading BP so I might loose money cuz i'm not working on deals... but then again i am learning new stuff every day.  No way to put monetary value on that. 

     At the end of the day BP has made WAY more money for me than it has lost!  With out it I would still be living in deal # 1. 

    Thanks for your comment Joshua,

    Proof will be in the pudding.

    There are and always will be "pumpers" on the forums.

    Many boasting about who's is bigger, etc...

    But let's get real here

    Real estate is a rollercoaster of a ride and we all make mistakes and loose money.

    Let's see who is willing to say how much they lost hehe

    Much success

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  • John D.
    Rental Property Investor · Allentown, PA · Member since 2016 · 279 posts · 105 votes
    9y

    I certainly would not consider it "lost" money, but whatever the amount was that I spent to upgrade to a "Pro" membership has been extremely helpful ;)

    3Reply
  • Engelo RumoraBusiness Member
    OP
    Investor · Toledo, OH · Member since 2013 · 4k+ posts · 2k+ votes
    9y
    Originally posted by @JD Martin:

    I get the point of the post but I'm unclear on the premise - is the title just to snag people, and we put down how much we've lost in RE? Or do you really want to know how much people have lost and place at least some responsibility on what they've read/asked/done/learned here?

    Either way, I'll play. In RE in general I have lost 6 figures before. That was many years ago, when I wasn't quite as smart (or financially savvy, or conservative, or frugal, or...) as I am now :D . I haven't lost any money from BP. Overall, I am way ahead on the gains vs. losses, but I think your thread has a lot of merit - people do need to understand it's not all rainbows and unicorns. 

    Yes mate,

    What is wrong with a click bait heading? It's much better than some boring generic heading IMO.

    I'd rather get people clicking than not lol

    i personally don't thrive on other people's failure but many folks on here like pumping their ego about how well they do and how much money they make.

    How about we turn the tables and see who is willing to come down to earth and say how much they lost or loose.

    I loose everyday and I'm better for my losses EVERYDAY.

    One thing is certain tho, I make more than I loose and that is what it comes down to.

    Picking yourself back up and moving forward.

    Thanks for playing hehe

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  • Engelo RumoraBusiness Member
    OP
    Investor · Toledo, OH · Member since 2013 · 4k+ posts · 2k+ votes
    9y
    Originally posted by @John Thedford:

    I've lost more sleep than money........

    haha

    That's a good thing.

    Sleeping is a luxury that only the folks that have already made it can afford

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  • Engelo RumoraBusiness Member
    OP
    Investor · Toledo, OH · Member since 2013 · 4k+ posts · 2k+ votes
    9y
    Originally posted by @John D.:

    I certainly would not consider it "lost" money, but whatever the amount was that I spent to upgrade to a "Pro" membership has been extremely helpful ;)

    What are some of benefits you have found by upgrading to the Pro account?

    Thanks

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  • John D.
    Rental Property Investor · Allentown, PA · Member since 2016 · 279 posts · 105 votes
    9y

    @Engelo Rumora

    One of the main benefits to us has been having access to webinars after they've aired.  Its nearly impossible for us to tune in at the actual time the webinars are available to the general audience.  Since we are still relatively new, all the info we have learned has been invaluable.  

    Having unlimited use of all the calculators has been helpful as well!

    3Reply
  • Rob Gillespie
    Specialist · Cleveland, OH · Member since 2011 · 1k+ posts · 852 votes
    9y

    I have not lost anything on Bigger Pockets. 

    I will not let anyone steal or waste my time. 

    If I give someone my time, I think of it as a gift that I will 

    get nothing in return. I just think of it as paying it forward. 

    I have made quite a bit doing deals with folks I have met on here

    and actually made some pretty good friends on here from my area that 

    I never met or heard of before Bigger Pockets. 

    Just my perspective on it, but I can see what you are saying if you are not careful, you can waste

    a lot of time. 

    1Reply
  • Engelo RumoraBusiness Member
    OP
    Investor · Toledo, OH · Member since 2013 · 4k+ posts · 2k+ votes
    9y
    Originally posted by @John D.:

    @Engelo Rumora

    One of the main benefits to us has been having access to webinars after they've aired.  Its nearly impossible for us to tune in at the actual time the webinars are available to the general audience.  Since we are still relatively new, all the info we have learned has been invaluable.  

    Having unlimited use of all the calculators has been helpful as well!

    Awesome stuff mate

    Post on the Marketplace also.

    There are some serious folks lurking around the Marketplace.

    Much success

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  • JD MartinBusiness Member
    Moderator
    Rock Star Extraordinaire · Northeast, TN · Member since 2015 · 10k+ posts · 16k+ votes
    9y
    Originally posted by @Engelo Rumora:
    Originally posted by @JD Martin:

    I get the point of the post but I'm unclear on the premise - is the title just to snag people, and we put down how much we've lost in RE? Or do you really want to know how much people have lost and place at least some responsibility on what they've read/asked/done/learned here?

    Either way, I'll play. In RE in general I have lost 6 figures before. That was many years ago, when I wasn't quite as smart (or financially savvy, or conservative, or frugal, or...) as I am now :D . I haven't lost any money from BP. Overall, I am way ahead on the gains vs. losses, but I think your thread has a lot of merit - people do need to understand it's not all rainbows and unicorns. 

    Yes mate,

    What is wrong with a click bait heading? It's much better than some boring generic heading IMO.

    I'd rather get people clicking than not lol

    i personally don't thrive on other people's failure but many folks on here like pumping their ego about how well they do and how much money they make.

    How about we turn the tables and see who is willing to come down to earth and say how much they lost or loose.

    I loose everyday and I'm better for my losses EVERYDAY.

    One thing is certain tho, I make more than I loose and that is what it comes down to.

    Picking yourself back up and moving forward.

    Thanks for playing hehe

     Nothing at all wrong with it - I didn't mean for my comment to sound snarky, because it wasn't meant to be at all. That's the problem, sometimes, with the internet - intention is hard to gauge. I was seriously asking the question what you were looking for :)

    One thing I can say about myself - most of my education has been expensive. I too have made more than I've lost, which is probably all that counts in the end, but I wouldn't want to go back and lose it again! 

    I agree that there's a lot of pumping again here, and it's good to see the other side of things. 

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  • Tracy D.
    Investor · Neptune Beach, FL · Member since 2015 · 143 posts · 172 votes
    9y

    Real estate is a game of calculated risk vs calculated reward. If you are loosing $$, you aren't playing the game right. If you are blaming your losses on an online real estate forum, you need a bigger mirror. Those who can't accept responsibility for their own failures, find what they did wrong and adjust are rarely successful in life.

    7Reply
  • David Zheng
    Investor · Saint Louis, MO · Member since 2016 · 970 posts · 1k+ votes
    9y

    Someone claiming to be a private lender messaged me on here when I was new to the site and investing. I almost took his bait and sent some "appraisal" money

    I could have lost a couple thousand. not really BP's fault but something to contribute hahah

    1Reply
  • Joe SplitrockPro Member
    Moderator
    Rental Property Investor · Sioux Falls, SD · Member since 2015 · 9k+ posts · 18k+ votes
    9y
    Originally posted by @Engelo Rumora:

    Ok Ok moderators.

    Before you go removing my post, I would like to say that Bigger Pockets has been one of most influential online platforms to my companies success. It's also played a major role in me getting recognition as a real estate investor and entrepreneur.

    So a BIG thank you to the entire Bigger Pockets team.

    Now, I recently read a post about “How Much Money Has Bigger Pockets Made You?”. So I thought it would be a good idea to counter that post by asking an equally important question, how much money have you lost due to Bigger Pockets? Of course, we all know that Bigger Pockets wasn’t the direct cause for your losses and maybe you should take a long hard look at yourself first before blaming others.

    So without naming any names, I would love to know, how much you lost and how? Please choose from the below:

    Over $1,000

    Over $10,000

    Over $100,000

    Over $1,000,000 - Seriously…???

    Real estate is a roller coaster and sometimes you loose money. In my opinion, it just comes down to making more than you loose.

    ps: I’ve lost $10,000+ in the past due to some investors wasting my companies time, money and resources.

    This poll is invalid because your results are skewed. 

    First category is people who come on BP wanting to do risky things. All the time I see people come on BP with risky plans and little experience. They may get some advice that encourages them, often from non-investors who think they know it all. Typically they get good advice from experienced investors, which they chose to ignore. If you take advice to be reckless from people with no experience, it is not reasonable to blame your loss on Bigger Pockets. These people may take your poll and claim an loss, but that just proves how many people have accountability issues. If you buy the wrong property or rent to the wrong person, it is YOUR fault. I have learned the only path to success is owning up to your own mistakes and learning from them.

    Your example where you claim to have lost $10,000 is probably incorrect. You are running a business, so why would you continue to come to BP if you have lost over $10,000? Your response is probably going to be that you have made more than $10,000 because of BP. That means you have actually not lost $10,000. A business has income and expenses. Lets say that BP has made you $100,000 and cost you $10,000. Then the correct statement is that you have made $90,000 from BP. 

    If anyone answers the question that they have a net loss from BP, then they are either coming here only as a hobby or they are not effectively running their business. Either way, it is not Bigger Pockets fault and therefore your poll is invalid.

    1Reply
  • Engelo RumoraBusiness Member
    OP
    Investor · Toledo, OH · Member since 2013 · 4k+ posts · 2k+ votes
    9y
    Originally posted by @JD Martin:
    Originally posted by @Engelo Rumora:
    Originally posted by @JD Martin:

    I get the point of the post but I'm unclear on the premise - is the title just to snag people, and we put down how much we've lost in RE? Or do you really want to know how much people have lost and place at least some responsibility on what they've read/asked/done/learned here?

    Either way, I'll play. In RE in general I have lost 6 figures before. That was many years ago, when I wasn't quite as smart (or financially savvy, or conservative, or frugal, or...) as I am now :D . I haven't lost any money from BP. Overall, I am way ahead on the gains vs. losses, but I think your thread has a lot of merit - people do need to understand it's not all rainbows and unicorns. 

    Yes mate,

    What is wrong with a click bait heading? It's much better than some boring generic heading IMO.

    I'd rather get people clicking than not lol

    i personally don't thrive on other people's failure but many folks on here like pumping their ego about how well they do and how much money they make.

    How about we turn the tables and see who is willing to come down to earth and say how much they lost or loose.

    I loose everyday and I'm better for my losses EVERYDAY.

    One thing is certain tho, I make more than I loose and that is what it comes down to.

    Picking yourself back up and moving forward.

    Thanks for playing hehe

     Nothing at all wrong with it - I didn't mean for my comment to sound snarky, because it wasn't meant to be at all. That's the problem, sometimes, with the internet - intention is hard to gauge. I was seriously asking the question what you were looking for :)

    One thing I can say about myself - most of my education has been expensive. I too have made more than I've lost, which is probably all that counts in the end, but I wouldn't want to go back and lose it again! 

    I agree that there's a lot of pumping again here, and it's good to see the other side of things. 

    haha

    No worries at all mate and no hard feelings at all.

    My skin has become very thick. Like a lizard lol

    My best experiences have come from loosing money.

    Making money is great but you're ego just goes through the roof and you never stop to really take a closer look at what enabled you to make such a nice profit.

    On the other hand, when you loose on a deal. That S#$@ haunts and forces you to evaluate every move you made that caused the loss.

    You pick yourself back up, realize your mistakes and to not repeat them and then you try again.

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  • Engelo RumoraBusiness Member
    OP
    Investor · Toledo, OH · Member since 2013 · 4k+ posts · 2k+ votes
    9y
    Originally posted by @Tracy D.:

    Real estate is a game of calculated risk vs calculated reward. If you are loosing $$, you aren't playing the game right. If you are blaming your losses on an online real estate forum, you need a bigger mirror. Those who can't accept responsibility for their own failures, find what they did wrong and adjust are rarely successful in life.

    Thanks Tracy,

    Did you ever loose money in real estate?

    What was the cause?

    I'm all about accountability and looking at yourself first but did you ever get wrong advice from a realtor? Or a contractor taking your money and running?

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  • Engelo RumoraBusiness Member
    OP
    Investor · Toledo, OH · Member since 2013 · 4k+ posts · 2k+ votes
    9y
    Originally posted by @David Zheng:

    Someone claiming to be a private lender messaged me on here when I was new to the site and investing. I almost took his bait and sent some "appraisal" money

    I could have lost a couple thousand. not really BP's fault but something to contribute hahah

    Ok wow,

    So he asked you to send him "appraisal" money? For what? 

    lol WTF...

    Thanks

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  • Engelo RumoraBusiness Member
    OP
    Investor · Toledo, OH · Member since 2013 · 4k+ posts · 2k+ votes
    9y
    Originally posted by @Joe Splitrock:
    Originally posted by @Engelo Rumora:

    Ok Ok moderators.

    Before you go removing my post, I would like to say that Bigger Pockets has been one of most influential online platforms to my companies success. It's also played a major role in me getting recognition as a real estate investor and entrepreneur.

    So a BIG thank you to the entire Bigger Pockets team.

    Now, I recently read a post about “How Much Money Has Bigger Pockets Made You?”. So I thought it would be a good idea to counter that post by asking an equally important question, how much money have you lost due to Bigger Pockets? Of course, we all know that Bigger Pockets wasn’t the direct cause for your losses and maybe you should take a long hard look at yourself first before blaming others.

    So without naming any names, I would love to know, how much you lost and how? Please choose from the below:

    Over $1,000

    Over $10,000

    Over $100,000

    Over $1,000,000 - Seriously…???

    Real estate is a roller coaster and sometimes you loose money. In my opinion, it just comes down to making more than you loose.

    ps: I’ve lost $10,000+ in the past due to some investors wasting my companies time, money and resources.

    This poll is invalid because your results are skewed. 

    First category is people who come on BP wanting to do risky things. All the time I see people come on BP with risky plans and little experience. They may get some advice that encourages them, often from non-investors who think they know it all. Typically they get good advice from experienced investors, which they chose to ignore. If you take advice to be reckless from people with no experience, it is not reasonable to blame your loss on Bigger Pockets. These people may take your poll and claim an loss, but that just proves how many people have accountability issues. If you buy the wrong property or rent to the wrong person, it is YOUR fault. I have learned the only path to success is owning up to your own mistakes and learning from them.

    Your example where you claim to have lost $10,000 is probably incorrect. You are running a business, so why would you continue to come to BP if you have lost over $10,000? Your response is probably going to be that you have made more than $10,000 because of BP. That means you have actually not lost $10,000. A business has income and expenses. Lets say that BP has made you $100,000 and cost you $10,000. Then the correct statement is that you have made $90,000 from BP. 

    If anyone answers the question that they have a net loss from BP, then they are either coming here only as a hobby or they are not effectively running their business. Either way, it is not Bigger Pockets fault and therefore your poll is invalid.

    Thanks Joe,

    You're my hero for pointing out that my poll is invalid.

    I'm also assuming you have never lost any money in real estate?

    I value my time by the hour so definitely lost $10,000+ due to people wasting my time.

    Not sure where the 'Net Loss From BP" is coming into play. 

    You make it sound like i should have asked an accountant to review my posts before I submit them to Bigger Pockets haha

    That wasn't the point here but anyway.

    As for Bigger Pockets and making money.

    Made an absolute fortune due to Bigger Pockets and I love tuning in for hobby purposes to correspond with the many keyboard cowboys on here.

    Much success ;)

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  • JD MartinBusiness Member
    Moderator
    Rock Star Extraordinaire · Northeast, TN · Member since 2015 · 10k+ posts · 16k+ votes
    9y
    Originally posted by @Tracy D.:

    Real estate is a game of calculated risk vs calculated reward. If you are loosing $$, you aren't playing the game right. If you are blaming your losses on an online real estate forum, you need a bigger mirror. Those who can't accept responsibility for their own failures, find what they did wrong and adjust are rarely successful in life.

     A person who has never lost money has probably never actually been a "real estate investor". Maybe they had a primary house that they held for some years and it appreciated. Or they've bought one house for rent and it's done well. If you do this enough, and long enough, you are going to have deals that don't pan out. Ask some of the more successful, and bigger, investors on here if they've never lost money on a single deal or project. 

    @Jay Hinrichs @James Wise @Brie Schmidt  off the top of my head. 

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  • Engelo RumoraBusiness Member
    OP
    Investor · Toledo, OH · Member since 2013 · 4k+ posts · 2k+ votes
    9y
    Originally posted by @JD Martin:
    Originally posted by @Tracy D.:

    Real estate is a game of calculated risk vs calculated reward. If you are loosing $$, you aren't playing the game right. If you are blaming your losses on an online real estate forum, you need a bigger mirror. Those who can't accept responsibility for their own failures, find what they did wrong and adjust are rarely successful in life.

     A person who has never lost money has probably never actually been a "real estate investor". Maybe they had a primary house that they held for some years and it appreciated. Or they've bought one house for rent and it's done well. If you do this enough, and long enough, you are going to have deals that don't pan out. Ask some of the more successful, and bigger, investors on here if they've never lost money on a single deal or project. 

    @Jay Hinrichs @James Wise @Brie Schmidt  off the top of my head. 

    I actually loved loosing Jay's money.

    It was probably the best thing that could have happened hehe

    A few years ago he told me "Engelo, one day you will loose my money and if you pay it back, we are good"

    "A man shows his true colors in times of adversity and not triumph"

    I'll blame another Aussie forum for that loss as that is how I met Jay almost 5 years ago

    Much success mate

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  • Federico Gutierrez
    Realtor · Cleveland, OH · Member since 2015 · 2k+ posts · 857 votes
    9y

    I've made money on bigger pockets BUT i've not lost time on Bigger pockets. 

    So the question is what price do you put on time? 

    At the same time it was a valuable lesson by losing this time. I now have much more of a filter dealing with clients.

    0Reply
  • Engelo RumoraBusiness Member
    OP
    Investor · Toledo, OH · Member since 2013 · 4k+ posts · 2k+ votes
    9y
    Originally posted by @Federico Gutierrez:

    I've made money on bigger pockets BUT i've not lost time on Bigger pockets. 

    So the question is what price do you put on time? 

    At the same time it was a valuable lesson by losing this time. I now have much more of a filter dealing with clients.

    Come back mate

    Cleveland misses you.

    Time is your biggest investment.

    You can't get it back mate hehe

    There is a dollar value but I'm not keen on typing a bible post here on how to value your time by the hour hehe

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