If you haven’t heard by now, we are big fans of BiggerPockets.
And if you haven’t heard of BiggerPockets, and you are interested in real estate, well… shame on you!
BiggerPockets is a complete resource for anyone looking to succeed in real estate investing. It offers content, tools, and a community of over 2 million members to help investors avoid mistakes, learn valuable tips, find partners, deals, and financing.
In short, they are THE resource for all things real estate investing.
That is why we sent 4 of our incredible team members down to Orlando, Florida to attend the BiggerPockets Conference (BPCON). They had the chance to learn, network, and find how we can better serve our Clients.
After discussion, we found 5 major takeaways from BPCON 2023 that we think can help anyone on their investing journey:
Part 1: The Theme of Urgency
Decision paralysis when it comes to investing?
Just do it.
It seemed that every speaker and session emphasized the need to take action and start investing. And we get it, many potential investors grapple with uncertainty.
Is the time right? Is the market right? Am I ready?
But the message from the conference was clear: you have to start somewhere. Whether it’s buying that long-term rental, co-hosting an Airbnb, partnering with someone, investing in a syndication, or just taking the first step, the key is to begin.
Waiting for the “perfect” time to start may lead to missed opportunities. As one speaker noted, in 2023, people wish they had bought in 2020, just as in 2026, people will wish they had bought in 2023.
Part 2: Meeting Normal People
Recently, whether from news cycles or horror stories, the overarching opinion of the “average” person is that most investors are large corporations or the super wealthy.
In reality we found that most investors at BPCON were the “average” person.
Many people we met were normal people, who work 9-5 jobs, and take care of a family. Their investing goals weren’t to take over entire markets, but rather things like:
- Saving up for a child’s college education
- Retirement Plans
- Getting out of debt
The list goes on. BPCON highlighted the diversity of the investing world and shut down the idea that only the wealthy can invest.
So if you’re reading this – sitting at your 9-5 job, wondering if investing is for you. The answer is yes.
Part 3: Shifting from Short-Term to Midterm Rentals
The AirBnb market has taken a downward shift. And while a viable investment strategy, it is a tiring one.
There are a few reasons we found that some investors at BPCON want to make the change. For one, the economy is uncertain. Midterm leases create more certainty for cash flow in an uncertain market. Knowing how much you will receive and when you will receive it can be very appealing in this economic state.
The second reason we heard people are leaning towards midterm rentals is the labor.
Short-term rentals are tiring. The tenant vetting, booking, cleaning, damage assessment, and hands-on-management every week or month can be downright maddening. Especially if you do it all yourself.
Midterm rentals alleviate the constant turnover and work. Newer investors who got started through short-term are beginning to see the appeal of longer term rentals.
Part 4: The Importance of Building Your Team
We get it- you may be a do-it-yourself type of person. But when it comes to investing and property management? You may not be able to do it all at all times.
While talking with investors at BPCON, they highlighted the need for a great team throughout their journey.
Creating an investing dream team is a critical step in scaling your business (and we do think of investing as a small business, read more on our blog about that here). While you may be able to repaint a wall, are you equipped with a CPA, lawyer, and real estate agent? Because believe us, you will not want to be without them. They help create a solid foundation to your investment and business.
Having these connections is a way to provide longevity and prevent burn-out. We always advise on having at least a lawyer- to keep you and your money protected.
If this sounds like a lot – you can minimize your touch points by hiring a property management company, who can typically eliminate the need for most if not all of these team members.
Part 5: Indianapolis as an Attractive Market
Indianapolis is HOT for investing. If you’re a local or keep up with the market- then that is common knowledge.
What shocked us at BPCON was how many people still hadn’t gotten the memo. When talking and sharing examples of our properties, we found people to be surprised that Indianapolis was such a great market.
So the good news for Indianapolis investors-the market definitely is not oversaturated. And the good news if you’re new to Indianapolis- there is plenty of inventory and opportunity to expand your portfolio.
All of our attendees said they felt this exciting energy throughout the conference. People are excited about investing-normal people are excited about investing. With a lot of predictions painting a not so pretty picture for Q4- it was nice to see enthusiasm and optimism about the Indianapolis and national real estate markets.
T&H would like to thank BiggerPockets for the incredible opportunity to network and meet with our peers. We learned so much, and cannot wait to relay even more information in coming blogs.