I was wondering if anyone has tried or heard of Brian's Page's Airbnb formula for signing leases on rental units and then using the apartments as a full-time Airbnb model. I've been an Airbnb host for some time, and I'm intrigued by the idea of operating on a larger scale and automating the front-desk aspects. Anybody heard of this guy? I'm considering his tutorial...
$997 is a lot of money to learn something that you can figure out on your own using common sense, psychology, finance and marketing.
Put yourself in your potential tenants shoes and do what it takes to rent yourself a house, from scratch.
That's Paul Sandhu's STR Formula, and it was free! Put the $997 of yours towards unexpected expenses, they will happen. Especially when a meth head breaks into your STR and steals the HDTV, Roku and modem; but you can catch them the next morning when they are still sleeping in the house. That happened to me 72 hours ago.
Hey Amy- BiggerPockets has videos on how to do Airbnb as well. If you go to youtube and search "Airbnb", you'll see a few come up related to getting started, pros/cons, nightmare stories, etc. I know in the immediate future they are planning on doing videos about how to make income off Airbnb and scale (I know because I'm in the videos/write the blog content for it.) So, with that my advice would be to hold off on that seminar because the content will be on this site for free over the next couple months.
Thank you! I'll look out for it. All best.
@Amy Zemser I took a look at Brian’s page that you sent over, I’m not knocking him for trying to make money but a lot of this you can google, ask in Facebook groups for Airbnb, tons here on Bigger Pockets, I’m also more than happy to answer questions for free. Keep the grand and put it towards your rentals.
@Amy Zemser did you by chance watch the @Michael Blank webinar of Brian Page? I made it through about half of it before I had to turn it off. I think he has a semi-decent business model but I was totally turned off by the presentation. 'Look at me I make 100's of thousand of dollars while traveling the world and pushing a few buttons on my phone.
I think those type of presentations do a huge disservice to the newer investors. Painting a picture of quick and easy riches while glossing over a lot of the issues like customer service and maintaining a margin even if your bookings fall off for some reason like government regulation, a poor economy or competition.
I think airbnb rentals are an intriguing investment area and I'm 6 months into my first successful one but the presentation I saw with Brian Page gave me nightmares of old-school guru hard-sells. Nothing is that easy and the days of convincing people they are are hopefully close to over because of sites like bigger pockets.
And why would they do that? I don't think $1k is so bad to pay for training to start a good business like airbnb but how about about a fair and balanced introduction to it? The whole thing felt like a hard sell on how great it was to me. Why show Brian's specific accounts and where he was travelling to. Eww, felt slimey to me.
And @Michael Blank your multi-family training is excellent and you offered way more value then I paid for. So when I see you promoting this kind of stuff I wonder what is going on with you.
@Jeff Kehl this is a fascinating response, and I thank you for writing to me. I'm a fan of Michael Blank (did you take his course? I'd like to hear about that, too, if you did) and I did indeed watch the entire webinar. I very nearly pressed the purchase button, too, and was still considering it when I saw your post. I suppose now I must be more circumspect.
I agree that aspects of the tutorial have an unctuous feel, and I despise the webinar model that poses as a tutorial but is really nothing more than a hard sell. It's frustrating. But I'm susceptible to this one in particular because I achieved such success with my own Airbnb and am now looking for ways to expand the model. After two years, I simply got tired of being the front desk. Brian Page is ostensibly all about systems, and I can't help but wonder if it would be helpful to just purchase all the materials he has set up to get this sort of machine started. I don't have any illusions about a rich-quick game. The idea of running one or two airbnb rentals appeals to me and I can't help but wonder if it would actually solve some problems for landlords. I rent out an apartment attached to my own home, and I have had so many problems with tenants -- and so FEW problems with Airbnb guests -- that I can't help but wonder if an entrepreneur came to my own rental with a proposition that I would necessarily say no either, particularly if there were a monetary incentive for me.
Would love to hear more about how your Airbnb rental is going for you, and thanks so much for contributing here.
@Amy Zemser yes I took Michael Blank's course and joined his online forums for awhile. I think his information is very good especially the deal modeler he has. That's why I was surprised to see him hosting what felt like to me an old-school guru pitch. I don't think there's anything wrong with paying the money for the course, I'm sure he has lots of good info to share. I just did not at all appreciate the sales pitch.
My AIRBNB has been great so far we've actually had several people staying for long periods of time. There's one guest there right now that is basically staying for the whole winter snow-bird style to visit their family. I really was not looking for that but more the short-term.
The other thing that bothered me about Brian Page's plan is that it works great as long as the economy is going good but what happens when we have the inevitable downturn? Someone who may not have the best financial resources might now have 5 leases they're responsible for that they can't pay because the AIRBNB usage has dropped off.
I agree the systems he talked about sounded good. I'm just not sure how you could get someone to do the 'virtual front-desk' for a reasonable amount. But if I bought his course I guess I would find out :)
@Amy Zemser I listened to it, but I know better than to bite. It's not a lot to lose, but I'm skeptical.
I think most of the best practices are on BP. They're just not organized or articulated as clearly as an instructional course. BP is there when you are ready to learn about a specific opportunity. When you're motivated to learn something you can ask, debate with experts, and digest. It is the most teachable moment.
Courseware like Bryan's will be too much, too fast and most of the value will be lost. UNLESS, you plan to go really fast and need to implement scalability solutions immediately.
I prefer the model, "Think big, start small, scale fast." Scaling before you really learn the business can be a killer.
@Amy Zemser I watched the webinar then made my wife watch it for a second opinion. We’re intrigued but still not 100% sure. I’d love someone to chime in who’s actually DONE the program and not just watched the presentation. I agree there’s definitely a guru feel to it but I can get past all that if it’s good content. I agree with an earlier comment that a lot of this stuff can be found on YouTube for free but I’d be more than happy to pay $1000 to have all the appropriate tools needed to succeed wrapped up in one little package and tell you not what NOT to do that could cost you thousands more. Thanks for posting the question and I’ll be sure to follow the thread for feedback on the actual course!
Some great contributors to my original question - thank you. I did some digging on the internet and found no independent reviews of his course. His hotline number goes to voicemail, which is disappointing. Maybe I’ll just buy the course and write an extensive review here - I am that intrigued. Thank you, all.
I am considering the course as well and would love an independent review which seems difficult to find. I don't care much about the sales techniques used to sell it, as long as I get value out of the course. Has anyone actually bought the course?
Also, given that we are ten years into an expansion and probably due for a recession I'm concerned lower occupancy will cause me to lose money. Any opinions on how to hedge this risk if we go into recession or ideas about short term rentals and recession?
Thanks in advance!
So, in my search for a bnbformula forum I found this site. With that said, my wife and I purchased the program. Yes, the initial sell video nearly turned us off as well. However, a friend of ours went through the program and highly recommended it. He is doing well with 3 properties and thus why we went forward with the purchase.
With that said,
My wife and I are into week 3 I believe of the program. Yes, THAT new. :) We all start somewhere right?
Anyway, so far the program has been quite good for us that don't know and want to get started with Airbnb. If anyone else is interested in the program, you can just ask me questions and I'll do my best to articulate what I've learned. No charge. I'm here to learn and willing to pass on info as well.
This is my first post, but I'll be back to learn more. If anyone has any questions about the program let me know.
I am new to Bigger Pockets and Just watched Brian's Airbnb presentation. I'm wondering, does this work only in "resort" type areas, or anywhere people would use a hotel?
Airbnb works anywhere that people would find a hotel, although more touristy areas, like major cities, are easier to attract BnB folks. That being said, I live two hours north of Manhattan and Airbnb is thriving up here.
What's a rough estimate of the additional costs you've incurred thus far working through the program?
@Amy Zemser Hi Amy- just by viewing the titles for each video I can already say 99% of those lessons he is teaching has already been answered in biggerpockets.
The only piece of advice that has not been answered here(if it applies to you) is how to approach landlords on subleasing their unit for Airbnb + where to find them to begin with.
Again, I'm still new to this BUT I will try to answer what I can from what I've learned so far.
TLDR: Read up here on biggerpockets and you'll gain lots more know how than just this one method.
- The only costs I've incurred is the cost of the program + what I've put into getting my basement room setup as a Airbnb. Note: This is from what I've gathered here at Biggerpockets, essentially "house hacking". Renting out a space you already have and living in another part.
- @Richard Ibeh You are spot on. Everything can DEFINITELY be gathered here at BP. I think the bigger thing for most folks (speaking for myself here as well) is to get over that initial fear. I needed something a little more laid out like a how to.
- This is NOT the only avenue we are pursuing. After being here on BP, I've learned of other things I did not know previously to finding the BNBFormula. I personally feel that while this model can and does work, there is a HUGE outlay of time involved as opposed to other methods. That is at least early on. Once you have the model or idea, even then to get a new BNB setup (if you are furnishing it as Brian Page indicates) then expect to spend 5k on the low end to setup each property at least initially. Again, I'm new and still very much learning, so my figures could be off. DYODD.
- I used a combination of mashvisor and airdna rentalizer (0$ money spent here) to figure out if airbnb would work in the areas I am interested in.
- I am concerned that laws/regulations WILL be catching up soon and reeling in airbnb's across the country. I personally don't want only one method, thus why I am learning other ways of investing from here on BP.
I hope this helps at least a little. If any other questions, feel free to ask.
Thank you! I actually just cold-called a bunch of landlords to see if they were open to Airbnb and some actually are! If you are a natural at being friendly and negotiating well, it's not that tough a sell, so I'm not going to buy the program. Thanks for responding.
Thank you... Very Informative
I've done the program - feel free to PM for additional details. My take:
-Likely worth it for someone who values their time and is a 100% newbie who is trying to get into the self management of short term rentals in as little time as possible
-If you have a lot of free time to research, are already managing properties, or are on the fence about jumping into the industry, etc - likely not worth it
I bought the course as well. I was skeptical like most. However if you learn one thing that can save you 3-6 months would you? If you buy the course just make sure you follow through to make the money back. I like the fact that brian speaks to both people who only want one listing a year and multiple. I thought it was worth it. In the process of getting my first listing.
A quick thank you to all who have participated in this thread. Thinking of buying the program myself because it makes a world of sense to me. I’m trying to determine if the advantage of having it all laid out in easy to follow steps is worth the $1000 expense. I am QUITE sure that all the data is here in bigger pockets but how long will it take me to dig for the info here that can be had with money now...
I have a strong feeling that if I don’t pay for the kit I will stall and it won’t come together. I like that he offers a money back guarantee. That way if it truly isn’t worth it I will send it back.
Feel free to chime in.
Hello. For those who have purchased the course, can you tell me if he still does the monthly coaching calls as advertised? Thanks!
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