Vancouver, WA · Member since 2022 · 25 posts · 12 votes
Hi all,
I'm looking to get into short term rentals. I have been following Michael Elefante on instagram and have been talking to him and his team as well. He is obviously doing very well as a STR host but his mentorship is pretty expensive for not having much of an online presence. I was hoping to talk to people that have gone through his program to see if his success is more widely duplicated.
DO NOT pay for BNB Investor Academy. I joined about 2 months ago and it's NOT worth the $. Poorly ran and refusing to give any type of refund.
Sarah
Thanks for letting us know, Sarah! This is the first official feedback I've seen from someone that has joined. I get a lot of messages from people considering. I'm sorry it hasn't been worth the money you put in. Hopefully you can get something useful out of them or a refund.
Like you, I have been stuck on analysis paralysis for quite a bit now and was also looking into mentorship as I do well with directions and coaching. I am also considering doing arbitrage to get started to then pivot into STR and LTR. I've found that most of the arbitrage "mentorships" weren't very genuine, as when I went to do research on most of the people offering them they had little to no online presence and their STRs were nowhere to be found.
Was wondering how you ended up liking the BP Bootcamp? Do you recommend it? Or have you found any noteworthy mentorships? Have you been able to get out of analysis paralysis?
Jeremy Werden provides better info and can help with analysis. He even made a tool for financial analysis. You can even try a property for free. It's called BNBCalc. https://www.bnbcalc.com/
@Sarah Lundrigan I was curious to learn about them and had an introductory call with them. When they said the price is $10K I was like.. NOPE. Seems like I dodged a bullet.
Wow thats crazy high! I was wondering how much Robs Host Camp was. Another guy named Kai Andrew seems like a good guy.
@Heather McNicol what did you think of the BP short term rental boot camp?
Im talking with Michael Elefante tomorrow to learn more about his Airbnb mentorship and came across your thread. Did you ever end up doing his?
Hi Brian, I never ended up doing the Elefante mentorship. The people that reached out to me that did sign up weren't very positive about it. I think you get a lot of information and can ask all the questions you need in the Bigger Pockets bootcamp along with Avery's book! I definitely recommend going that route first before spending tons on an expensive mentorship.
@Heather McNicol what did you think of the BP short term rental boot camp?
Im talking with Michael Elefante tomorrow to learn more about his Airbnb mentorship and came across your thread. Did you ever end up doing his?
Hi Brian, I never ended up doing the Elefante mentorship. The people that reached out to me that did sign up weren't very positive about it. I think you get a lot of information and can ask all the questions you need in the Bigger Pockets bootcamp along with Avery's book! I definitely recommend going that route first before spending tons on an expensive mentorship.
Podcasts and networking have been the key for me. Podcasts are always sharing the latest tips, tricks & strategies for our niche. And networking will propel you to the next level. You're much better off spending that money on a conference like STR Wealth Con or something similar. Rub shoulders and network with people who are doing what you want to do.
Hey @Heather McNicol, this is an older post but I saw you were looking at arbitrage. That’s how my husband and I started. We’ve done 17 arbitrage deals, happy to answer questions.
Thanks for your feedback! I have already read Avery's book and I've been stuck in analysis paralysis for a few months now. I keep seeing more that I need to learn before I move forward on a property. I'm also considering rental arbitrage for my first STR but haven't dived into information on that yet. I'm someone who does well with coaching and direction so trying to piece things together on my own has kept my investing journey in a hold pattern of learning.
I know these forums tend to be anti-mentorship, but I was hoping someone who has gone through a mentorship for STRs, even this particular one, could reach out and let me know if it's worth the success they've seen so far.
@Briana Smith I'll be sure to check out Mike Sjogren's podcast as well! I haven't seen his stuff yet. From his website, it looks like he has a masterclass as well. I'm not sure if I want to do co-hosting though.
A good realtor well-versed in STR sales and management can get you unstuck. PM me if you'd like some free advice and perspective! : )
Hi all, I'm new here. I just found this site on Google search while trying to get more information about Mr. Michael Elefant and BNB Investor Academy. I follow him on Instagram and he contacted me to invest in his rents. I started talking to him about the minimum amount to invest, since I didn't know him or his company and he initially asked for $2,000 usd. Then he sent me a MoU for a 5k investment. And then he already tried to talk about a 10k investment. In short, he could simply not return the money or the profit by saying that he had reasons of force majeure, without clarifying any additional details. He also had no official identification of the company or the legal representative. When I asked for identification documents, he claimed it was too many documents for an investment of "only" $10,000. In other words, I strongly believe that this is a fraud. Does anyone know if this company BNB Investor Academy and Michael Elefant are serious?
I'm super new but bumped into Michael Elefante on Instagram, currently talking to his team. Has anyone on this forum did the program yet? I'm keen on investing into STR and not the rental arbitrage. I have zero experience into STR. I will start with the Avery's book and the suggested podcasts on this thread.
Hey @Raj Bathula - I am a member of the academy. It's not cheap, but I'm pretty impressed by the quality of resources and coaching they offer. You need to be the squeaky wheel sometimes, but it's a great blueprint, and a great community. We are zeroing in on our first STR now. I'm thinking of it as a small part of a big investment in an STR property. Make use of the 6 month period, don't commit until you're ready to spend the time.
For what it's worth, I am not a massive success story who has turned that program into an STR empire, (yet) but I think the course and community are really valuable.
@Raj Bathula I don't know a thing about the course or who that guy is, but I'd be happy to help if you think that I could be a resource. I have nothing to sell. We (my wife and I) have been at it for a few years - self managing mid and short term rentals. We're not experts but have had some success and learned a few lessons along the way. It's harder to make STRs pencil out than it used to be. It's not impossible though.
Hey @Raj Bathula - I am a member of the academy. It's not cheap, but I'm pretty impressed by the quality of resources and coaching they offer. You need to be the squeaky wheel sometimes, but it's a great blueprint, and a great community. We are zeroing in on our first STR now. I'm thinking of it as a small part of a big investment in an STR property. Make use of the 6 month period, don't commit until you're ready to spend the time.
For what it's worth, I am not a massive success story who has turned that program into an STR empire, (yet) but I think the course and community are really valuable.
Hi Alex,
Thanks for sharing your experience! I think you're one of the first ones to share in the open forum. I have had a few people reach out privately who have signed up. I haven't heard back from them yet on how it's going. As long as you are getting worth out of it and taking action, that's what really matters! Congrats on working on your first STR!
@Alex McArthur-thanks for your response Alex. Actually, I did attribute the coaching fees over 6 month period and thought it's fair for someone like me with no experience in STR at all to start off and have the resources, design, coach, mentor all under one roof to give it a good shot. I had my intro session with one of their team member's last week, felt good and motivated. I was really looking for a feedback from their students who actually did the program, your response certainly helps.
Congratulations on your first STR, good luck with your STR empire.
@Travis Timmons- that's great to know Travis. I'm actually overwhelmed with your response. Can't ask for more than who has already done it. How can i get in touch with you?
This forum is great, i didn't know what to expect for a topic last replied 27 days ago but "ALL" you guys are amazing
Hey @Heather McNicol, I didn't read back through the comments so this might be an old post that got bumped.
I started out doing arbitrage and have done 17 deals that way. We started 6 years ago, and I wouldn't recommend doing arbitrage unless you get a pretty sweet deal. Know your numbers religiously. Plenty of free info online, no need to pay that much money for a program. Happy to chat if you still have questions about arbitrage. We also own and manage. Feel free to reach out.