5 Reasons To Sign BiggerPockets Petition To Stop Wholesaling Discussions
Why should you sign the new BiggerPockets petition to discontinue real estate wholesaling discussions?
A new thread on the online real estate forum Bigger Pockets is trying to drive a petition to end discussions about wholesaling on the site. So why sign and support it? Especially if you are a real estate wholesaler?
This petition attempts to take the battle against wholesalers to another level by just blocking discussions about it. Any wholesaler who has been in the game for 5 minutes has already heard plenty of arguments from Realtors, other real estate investing gurus, and investors about how ‘wholesaling isn’t really investing’, and more. Most are just intent on minimizing the competition, or are just wildly ignorant of how commerce works. Though this thread in particular appear to be kick-started by a house flipper that is brand new and is probably having a hard time finding deals thanks to highly successful and methodical wholesalers in his area. So if you are a real estate wholesaler, why should you back the petition?
1. Save Others from Dangerous Advice
No one can deny that like Zillow, the BiggerPockets forum has done very well at growing in size and visibility. Unfortunately, while there are some valuable conversations and wholesale deal making going on, the easy access means that much of the amateur advice being handed out to newbies is not just poor, but often downright dangerous. By clipping these conversations and amateur wisdom out, you’ll help save other new investors from a financial nightmare, and preserve the real estate industry.
2. Elevate the Real Estate Industry
By ending these discussions aspiring and new real estate investors will be encouraged, or have to seek out legitimate and quality investment advice and education from those that actually have the experience to help them. That won’t just save many from bankruptcy, but will help make daily business easier thanks to a more knowledgeable range of industry players, while preserving trust and efficiency. This is critical for those that desire longevity in the real estate business, and for their wealth.
3. Stopping Fueling Your Competition
Bigger Pockets now seems to hold the same type of position that Facebook did a few years ago. That is if anyone still remembers Facebook. Facebook got big, fast, and real estate professionals and businesses felt they must get on it to stay visible and relevant. They helped build the social network even further and invested a lot in it. Then Facebook bit them back, and essentially vaporized a lot of that investment. There is no telling exactly where Bigger Pockets is going. But today many real estate investors and businesses are feeling pressured to be included. However, like Facebook and Zillow, the more you invest in building someone else’ business, the harder it will be to keep your own website visible and to compete. So approach with care and balance.
4. You’ve Got Better Things to Do
You’ve got better things to do than waste time explaining yourself on BP. If you’ve got hours for conversation, and just hanging out, then get out and network, volunteer for charity, or mentor some local investors that are really serious about winning.
5. You Don’t Need All of Your Business Out There
You don’t need to put ALL your business out there. It’s shocking at how much some say on these public platforms that will keep those comments up for the world to see for eternity. Sharing is good, helping advise others is good, and quality backlinks are good. But too many investors are revealing too much. Some are openly admitting and recommending others commit real estate and mortgage fraud. You shouldn’t be doing fraud anyway, and maybe this is just a cry to the feds to be stopped and given some free rent and a nice jumpsuit. But it doesn’t seem very intelligent. Even more prevalent are newbie questions and revealing inside strategy. Remember that your online comments might be the first thing Google serves potential sellers and investors about you. If you are holding yourself out there as an expert and cash buyer, but then are seen to have been asking about flipping contracts, how to make an offer, or how to get away without fixing a tenant’s AC in the middle of 120 degree summer weather, just last week – that’s your reputation out the window!
So will you sign?
Authored by Best Transaction Funding BestTransactionFunding.com is the leading source of transactional funding and hard money loans for real estate wholesalers in the US, where 100% financing, and saying “Yes” is what we love doing all day long.
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