Think real estate investing is too complicated? Don’t have enough cash to get started? Confused about mortgages, interest rates and how to properly renovate a home? Fear not, thanks to a company called BiggerPockets. The aim of BiggerPockets is to put you and your family on the road to financial freedom through real estate investing. The company’s website offers a treasure trove of tips, tricks and advice to help you do just that. After all, “Life isn’t meant to be lived in a cubicle,” as BiggerPockets says on its homepage.
Breaking out of the Traditional Mold
Sometimes in order to be extraordinary, you need to break out of the ordinary. Scott Trench, vice president of operations for BiggerPockets, said, “We believe that you can live a life without the reliance on a 9-5 job. Many of our users are driven by a desire not to necessarily quit their jobs and retire early, but by a desire not to depend on a job as a sole source of financial security.” It’s that hunt for alternative streams of income that is the groundwork for the BiggerPockets business.
What is BiggerPockets?
BiggerPockets is a real estate investing social network, information hub and marketplace that provides education, networking opportunities and tools to help investors succeed. It currently has a community of over 830,000 members. “Transforming the way the world invests is our tagline,” stated Trench. “The emotional component of our business is that we want to help our members find financial freedom through real estate, which isn’t always thought of as a tool to invest your money. We want to break that conception.”
Helping People Succeed
BiggerPockets was founded in 2004 by Josh Dorkin, who is still the company’s CEO. Dorkin always felt that real estate education should be free. “Josh wanted to fight the ‘gurus’ who were and still are selling real estate secrets for only $999,” replied Trench. “In the past 13 years, we have helped millions of people learn about real estate investing without having to pay some guru for his/her course.”
Whether you’re new to the real estate investing world or a seasoned professional just looking for a few tips and tricks, BiggerPockets has you covered. The company offers podcasts, mobile apps for iOS and Android and live weekly webinars on real estate investing topics. The company has also published eight books (number nine is in the process of being written) on a variety of real estate topics.
“We believe anyone can be an investor, so we provide resources for every single person interested in using real estate to build wealth and achieve financial freedom. Our target audience is the person buying their first property all the way to the person buying their thousandth,” noted Trench.
One of the books that BiggerPockets offers is called Finding and Funding Great Deals: The Hands-on Guide to Acquiring Real Estate in Any Market. It was written by one of their prominent community members, Anson Young.
Preparing for Anything
BiggerPockets gives their users access to thousands of different perspectives on how to be successful and how to navigate the ups and downs of the real estate market. Trench said, “There is no one right way to invest in real estate, and what works for one investor may not work for another investor.”
He also adds that community support and finding a mentor are critical. “It can be a challenge to have to think through every decision with real estate investing, and that process is made much easier with the support of the community or a mentor who has experience dealing with unique situations.”
The Bottom Line
You can take this to the house. BiggerPockets is a great tool for anyone who is serious about trying to build multiple income streams and take the plunge into real estate investing – even if it may seem daunting at first.
“Many of our users would argue that it is far riskier to depend on a job for a paycheck than to develop multiple income streams,” said Trench. “They believe that real estate, intelligently and conservatively managed, can produce reliable income that results in a more secure financial position than that of peers that fail to build up additional income streams.”
If you’re looking for that financial freedom that once seemed out of reach, check out BiggerPockets. It may just help you build your own dream house, and leave your cubicle at the same time.