I have spent some time recently reading the BiggerPockets investor forum, which is probably the most well-known tool for amateur and new real estate investors to learn about the process and presumably ask those with more experience for the lessons they have learned along the way.
While I do consider the internet to be a better, more educational place because the Bigger Pockets world exists, I should note that there are many contributors who understate costs, provide ethically dubious recommendations, are generally under-knowledgeable about what advice they give, and sometimes exhibit a certain naivete regarding whe actions that people being forced out of their homes (such as via foreclosure) may take on the way out.
I have compiled of some of my most notable criticisms that I would encourage any frequent user of the forum to keep in mind when browsing:
1. Most users dramatically underestimate the costs associated … Read the rest of this article!