Brian Page's Airbnb formula
Investor · Kingston, NY · Member since 2015 · 65 posts · 39 votes
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...
http://bnb-formula.thinkific.com/courses/members
$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.
I'm about 80% ready to purchase the course. Glad I found this thread... BP is pretty great so far. I'm kinda justifying purchasing the course - If I could just get one deal from using the course, It would be well worth the cost. I'm just a little concerned about the ABNB process overall. What if I get stuck in a lease and I can't maintain occupancy? I'll be sure to do plenty of research to have the best odds of keeping guests coming in, but still a little shaky about diving in.
What if I get stuck in a lease and I can't maintain occupancy?
What if you're making money hand over fist like many other people think they will. The landlord sees this and decided not to renew your lease and do it himself. At least you can sell him your furniture and appliances.
What if you're making money hand over fist like many other people think they will. The landlord sees this and decided not to renew your lease and do it himself. At least you can sell him your furniture and appliances.
Well, that would be a bummer, but I suppose I would simply move on to the next one. :)
I've done the program - feel free to PM for additional details. My take:
Tyler, do you feel that the Airbnb Formula is still as relevant as it was a couple of years ago? ...So much information in BP these days
I have a question with related to zoning (and any future laws that may be created). Does this course offer lease agreement templates that essentially protect the investor?
My concern is signing a 12 month lease to do an Airbnb Arbitrage in or around Atlanta, and a new law in the particular county I rent from is implemented restricting STR's less than 30 days (and they actually enforce it). Then I'm stuck with say 9 months left on a rental lease that would need to be subleased.
@Account Closed You have a valid concern. That's why some people on this forum are against this arbitrage arrangement. But on the flip side, if your Airbnb does well for the first 12 months, the landlord may not renew your lease and decide to do it himself when lease renewal time comes around. If it is any condolence, the landlord may offer to buy your furniture and appliances.
Hi, for those of you who have taken the course would you say the hardest part is finding rentals? I don't see rental signs out and most of the rentals on Craiglist are through an agency it seems. Also, any concerns that more city's are going to outlaw Airbnb's or STR's?
Do you mean trying to talk landlords into renting their place, furnishing it, and then being stuck with it when things dont pan out? That 12 to 60 month lease needs to be paid whether you can make it work or not.
What you dont see in the formula, is that there a lot of reasons that you will not make nearly the money in your first year. no reviews, lack of experience, errors, angry neighbors who sink your plans while sticking you with the monthly rents, zoning changes or things you weren't aware of, changing economy (recession soon)?
Can you afford to carry much of the rent on multiple places for a year or two? What, they didnt mention that in the course?
Courses are good at getting people excited (so they buy), and then leaving them high and dry when reality sets in.
I've heard that it the BNB Formula course is outdated with info from 2015 or so. For those that have bought the course recently, does this course still contain old info? Or has it been updated?
Wow. Lot of responses and a lot of PM's asking for more info. Yes, still doing well here. Have we acquired more properties? Not really. Just been holding what we have for now. As for the program, I think it's great for the one simple fact is that it get us out there to do deals. It's well put together in the newer iteration. Do I think it's worth the money? I'm gonna say maybe. You COULD review a ton of material for free on the web and use that 1k towards your first property. Honestly if starting out, I'd say that's not a bad way to go.
One thing I will just note, since weve started I've had more and more people interested in doing Airbnb as a side gig and it being passive. If you are starting out, understand it takes a bit before you get there. It's not rocket science and it's easy enough I can do it.
Another thing I see is that there are more and more people with courses, etc. I now have all sorts of folks asking me how to do it. I worry when the local door greeter asks me about Airbnb. Market saturation is a concern. That said we are still maintaining high occupancy via exceptional customer service.
Not trying to scare anyone, just presenting facts. I've met up in person with several of you and talked to even more of you on the phone. It is my pleasure to be of assistance if I can.
Continue to send me PM's if you have any questions. I'll try to get them all as soon as I can.
I just went through and replied back to everyone that has sent me a question regarding this program. I really do hope you find the info useful. Definitely reach out if you have any other questions.
I just saw Brian Page's webinar on the Airbnb formula masterclass. I initially signed up to purchase an audiobook on Instagram for $1.99 (where I found the ad) and discovered there was more to it. Ended up making a purchase for about $70 that I didn't plan for only to find out there is a masterclass for $997 through the webinar. So with all that I've seen so far I just want to be clear on something. If I purchase the course for 1k how much more would i need to start this business?
1.99, then 70, then 997. That's a classic webinar scam.
if you are wise, you'll ignore everyone who gives a thumbs up to this trash and get out while you can.
you can invest in short-term rental business and grow or you can Arbitrage your way to eventual flameout
Yea Samson, that's no good. Send me a PM if you want. I'm ready and willing to answer any questions you may have. You can TOTALLY do this without buying the course. I've helped many folks on here so far with their questions around this and how to get started. Save your cash for your first place. Yes, the program was good for me as it helped me get started. Could I have done it without it? Yes. Would I have done it without it? Honestly, probably not.
Again, I'm here to help if you have specific questions.
Hello All. Quick question, i noticed everyone mentioning the price for the masterclass is 997 but when visit the website, it is now 1,997, is this new? Looking to purchase the course Thinking maybe the markup so that they can discount in time for black friday... hah
yes. the price of what should be a questionable $30 book has been gussied up to be a $1,997 master class?
Hey @Amy Zemser Iwould loveto talk to you about getting the airbnb business model going as I am new tothe industry but have been doing some studying just looking for some help if possible. Thank you
Yea Samson, that's no good. Send me a PM if you want. I'm ready and willing to answer any questions you may have. You can TOTALLY do this without buying the course. I've helped many folks on here so far with their questions around this and how to get started. Save your cash for your first place. Yes, the program was good for me as it helped me get started. Could I have done it without it? Yes. Would I have done it without it? Honestly, probably not.
Again, I'm here to help if you have specific questions.
Hi everyone, I watched the webinar and realised that I don’t need most of the contents of the course, also I am in the UK, some of the materials not applicable to me, all I need is the Landlord Sales Letter & the Rental Form(is this the agreement between me and the landlord?), I need decent and legitimate documents I don’t know how to write them, could anyone help?
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.
Amy, where is the best place you've found for owner leads? I don't have a problem cold calling either but I am new to the Airbnb model.
Thanks!!
@AmyZemser You mentioned that you cold called a bunch of landlords to see if they would be willing to list their places out for Airbnb. Where did you find these leads, or who did you target to see if they were interested?
I just found this thread and thought I would share my experience as I have done a lot of this in the San Francisco Bay Area over the years.
The business model for renting out a property, furnishing it, and then leasing it out again is called "Master Leasing" or "Sandwich Leasing". Without a doubt, it can be very profitable especially if you are in an area under-served by hotels or if there is a high demand for Corporate Housing (ie near a major hospital or University).
As a general rule you want to get permission from the landlord to do something like this. In large apartment communities they are used to companies doing this type of thing so that is often an easy place to start. Go to the leasing office and ask if they allow Corporate Leases or Corporate Rentals. To get a reasonable monthly rent you'll most likely need to sign a 1 year lease.
You can also get mom and pop landlords to agree to it but this will usually require you to bring an incentive. Landlords need to feel like they are going to make more money on the property by allowing you to sub-let it. Sometimes just offer 5% or 10% higher rent will do the trick. Sometimes it will require more.
If you are in a market with a lot of vacancy you might not have these barriers but in my area this is what we have had to do.
There are a myriad of risks with this business model which are probably obvious. In addition to the significant cost to get the unit totally furnished and stocked you are on the hook for the full rent plus utilities each month. Try to check with AirBnB hosts in the area and see if they are able to keep their units booked 80%+ each month. Another risk is that the business in usually seasonal. Here in the SF area springs and summers are very strong but business travel drops off a lot in winter.
A much safer way to dip your toes in furnished property management is to find some folks that already have a furnished unit that need help managing it. We charge 15% to 20% of the gross revenue and its much less risk than signing leases on our own units (which we still do from time to time).
If you are just starting out you can offer a big discount of say 10% management fee for the first 6 months.
Also, be careful if you are managing property with tenants staying more than 30 days at a time. In most states, including California, you have to have a real estate license.
I just found this thread and thought I would share my experience as I have done a lot of this in the San Francisco Bay Area over the years.
The business model for renting out a property, furnishing it, and then leasing it out again is called "Master Leasing" or "Sandwich Leasing". Without a doubt, it can be very profitable especially if you are in an area under-served by hotels or if there is a high demand for Corporate Housing (ie near a major hospital or University).
As a general rule you want to get permission from the landlord to do something like this. In large apartment communities they are used to companies doing this type of thing so that is often an easy place to start. Go to the leasing office and ask if they allow Corporate Leases or Corporate Rentals. To get a reasonable monthly rent you'll most likely need to sign a 1 year lease.
You can also get mom and pop landlords to agree to it but this will usually require you to bring an incentive. Landlords need to feel like they are going to make more money on the property by allowing you to sub-let it. Sometimes just offer 5% or 10% higher rent will do the trick. Sometimes it will require more.
If you are in a market with a lot of vacancy you might not have these barriers but in my area this is what we have had to do.
There are a myriad of risks with this business model which are probably obvious. In addition to the significant cost to get the unit totally furnished and stocked you are on the hook for the full rent plus utilities each month. Try to check with AirBnB hosts in the area and see if they are able to keep their units booked 80%+ each month. Another risk is that the business in usually seasonal. Here in the SF area springs and summers are very strong but business travel drops off a lot in winter.
A much safer way to dip your toes in furnished property management is to find some folks that already have a furnished unit that need help managing it. We charge 15% to 20% of the gross revenue and its much less risk than signing leases on our own units (which we still do from time to time).
If you are just starting out you can offer a big discount of say 10% management fee for the first 6 months.
Also, be careful if you are managing property with tenants staying more than 30 days at a time. In most states, including California, you have to have a real estate license.
You can find alot of his info on Youtube.
I previewed his webinar and now the price has gone up. I like the concept, we are doing something similar with corporate rentals.
I got an email from a marketer guy that was selling Brian's system [maybe the previous version to the $997 course for $100 and now I can not find it.
Arbitrage is less risky than buying a property and if the market changes you can always just rent out long term or furnished. If you are contemplating buying a property just based on AirBNB numbers, do be careful, AirBNB can be shut down, Just think Los Angeles, Anaheim etc.