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...
Investor · The worst town to live in, KS · Member since 2016 · 4k+ posts · 4k+ votes
8y
$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.
Sugar Hill, GA · Member since 2018 · 25 posts · 51 votes
6y
Yea, I'm seeing a LOT of regulation changes to "deal" with airbnb. I've talked to people all over and it seems every city is working on regulations around airbnb. I'll gladly share with anyone that wants to know the info in the course. Just PM me and we'll set up a call.
Hello all I’m new to this Airbnb but wanted to give it try. I’m a little skeptical about making the rent if the place is not booked monthly, like someone else said. It might not book up 30days out of month which Is understandable. I’m also seeking this specialized contract between the landlord and the I. Rules to make sure they don’t destroy the place, and for some reason my biggest fear is these damn bed bugs people are traveling with! How the hell do you prevent this mess? Thanks for your help in advance
Investor · The worst town to live in, KS · Member since 2016 · 4k+ posts · 4k+ votes
6y
@Starr Stroud You've got a good head on your shoulders since you are skeptical of Airbnb arbitrage. It's a better idea to do it with a property that you own.
Investor · Spring, TX · Member since 2014 · 29 posts · 2 votes
6y
No I have not heard of Brian's page. I have a property I want to make into an Airbnb, it is going to take $25000 for the updates or should I just paint, and change the flooring from carpet. I don't have the cash or needed credit score (550) to refinance with cash out. So, I am working on it, and yes do the Airbnb learn from bigger pockets, you tube and others, $997 for the course seems high. I wish you well.
Hatfield, PA · Member since 2012 · 1k+ posts · 629 votes
6y
Your post is basically a jumbled mess. I have a feeling you're going to turn out to be a bot like the one we had recently called Dave Dave. I don't know how you manage not to have a location.
Hello all I’m new to this Airbnb but wanted to give it try. I’m a little skeptical about making the rent if the place is not booked monthly, like someone else said. It might not book up 30days out of month which Is understandable. I’m also seeking this specialized contract between the landlord and the I. Rules to make sure they don’t destroy the place, and for some reason my biggest fear is these damn bed bugs people are traveling with! How the hell do you prevent this mess? Thanks for your help in advance
New to Real Estate · Madrid (Spain) · Member since 2020 · 2 posts · 11 votes
6y
Hello Biggerpockets fellows!
My name is Alvaro from Spain and I am a newbie here. I live in Madrid, a well-known touristic city and the capital of Spain with many Airbnb rentals. A month ago, I saw another American guy on Youtube explaining the same idea than Bryan and offering the same course but cheaper, about 600 dollars. Before enrolling in the course, I was doing my own research with the valuable tool AirDNA which provided me with many interesting insights, data in my city and decided not to pay the course and apply the idea on my own. In the beginning, I was skeptical if the idea of pitching landords would work or not. However, yesterday I sent out some emails to some agencies and landords, and today I got a call from a real state agent offering me to see an apartment with 1 bedroom,1 bathroom, equipped kitchen and a living room; it´s located in a very good area: near the biggest soccer stadium in Spain, shops, the metro station, pubs, restaurants and with a swimming pool on the rooftop, etc and then, I explained him the idea of subleasing the appartment by using AirBnB; he said he had to ask the landord and will reach out to me later. A few hours later, I got a message on my phone saying OK. Wow! My first landord and he said yes. Basically, what I explained to the real stat agent was that most of the time I would be out of the city on bussiness trip due to my current job or travelling by pleasure and did want to leverage the apparment.
So, what are the next steps now?
1. The monthy rental is 1000 euros (1085 USD) including utilities such as hot/cold water, heater, and commnunity fees. The leasing contract must be for at least 1 year.
2. The ADR (Average Daily Rate) in the area is 87 dollars but there are many active rentals and Super Hosts in the same area. So, how can I start? By charging around 25% less than the ADR?
3. What else should I take into account before signing the leasing agreement?
Rental Property Investor · Houston TX / Tacoma WA. · Member since 2019 · 166 posts · 89 votes
6y
@Amy Zemser
I'm not sure about his formula but since you already have experience with Airbnb, go to see 10 properties that are on the market for kore then a month probably because they are over price, it's okay to pay $100 more then average Market price if it's a good location, I'm sure you will get at least 3 that will be happy with the idea. Start with 1 property, try to get it as fast as possible to 50% accupency and then open 2 more and so on...
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
Amy, You don't need to spend thousands of dollars on this.
I just purchased his $1.99 ebook and this is hard to do for $1.99, but I seriously think I want my money back. So offensive to offer an ebook where the recipient is just paying for a glorified advertisement for an upsell! The whole point of the book (& buying process, which was shockingly and tritely painfully rife with upsells at every click) is to get you to buy something else. It's ridiculously tragic to sell an ebook and not include any real, actionable information. The book itself is about 22 mins in length (you receive only an audibook). So, he talks to you in this short time about the same wonders of Airbnb rentals- but conveniently leaves out all the nuts and bolts. From talking about his exciting profits from mo one (he mentions NOTHING about basic costs like cleaning fees, maintenance, how MUCH to spend on furniture, what types to get..hello, pull out couch anyone? None of this is even remotely touched upon. ~ He does later mention that cleaning fees can be charged separately via Airbnb, HOWEVER, he gives zero mention to how this play competitively against the cost of hotels which have cleaning fees built in. He also doesn't talk about the cost of basic supplies, such as toilet tissues, fully stocking a kitchen, lightbulbs- or even the most important thing I'm concerend about, and that is HOW to negotiate w/landlords to get them to say yes to something I'm guessing most landlords at least initially, would frown upon. ~ I'm also thinking that the only way to get properties in prime areas is to overpay for them? But of course this is another area he made no mention of. ~ I don't like the game playing. If his entire motive is to sell another 1-50x as expensive course, then just be honest & sell that course in the first place. Selling this was seams sleazy & disingenuous to me.
I am an aspiring Short Term Real Estate Investor and have the same question in mind do I need to buy a training or mentorship program or is all the information on some place like BP. If it does exist can somebody point me to where I can find this info on BP. Thanks
Investor · Ogden, UT · Member since 2018 · 295 posts · 208 votes
5y
I personally don't like the strategy because it isn't real estate investing. With rental arbitrage you don't get any benefits of owning real estate, and your tax advantages disappear because it's all earned business income and as self employed you get taxed the highest. This is buying yourself a job.
All that said - it can create a high cash business that you can then dump into buying rentals, or your own Airbnb's, so it definitely has a role to play. However I think arbitrage as a sole means can be futile because you don't build wealth, you just build income (which is still good) but eliminates the benefits of investing in real estate which are 1) cash flow 2) depreciation 3) equity growth 4) appreciation and 5) leverage. With arbitrage you only get 1.
*End hater mode*
I do love Airbnb and think it's a great model (we close another commercial property this week putting us at 61 STR units). I think the material in that course could all be learned from YouTube in a matter of a day, but that's just me. Paying for education is worth it if you apply the lessons, so if you are prepared to make the investment and take the action then go for it!
Wholesaler · Elkton, MD · Member since 2015 · 8 posts · 1 vote
4y
When you have the opportunity to follow the roadmap of one of the MOST successful AirBnB investors in the country, who has been endorsed by Robert Kiyosaki, Grant Cardone, Mike Dillard, Dean Grasiozi, Tai Lopez and many other successful investors/entrepreneurs, you know the person and the programs are legit. Many choose Coaching or Mentorship, in order avoid mistakes and reduce the learning curve. Like with ALL businesses, the 90/10 rule applies. 10% of the people, close 90% percent of the "deals!" Many people benefit from a proven plan, accountability and an easy-to-follow system. All of the most successful people in athletics, business and other fields have coaches/mentors/advisors. ANYONE can teach themselves, pretty much anything, with the right information. Life is filled with choices. I'm grateful to be plugged into an amazing network of new and experienced entrepreneurs.
Just got off the phone with them. It is now $20k for the training and they are raising the price to $30k next year. $1000 down and you finance the rest. They can't tell you what your interest rate will be or how much you will end up paying until you sign the contract and they run your credit so you will most likely end up paying way more! I can't imagine it's worth half that!!
@Sean Sarfraz I am wondering the same thing you are. Would you be willing to talk about this through messaging please? Have you had you phone call to discuss the intro video?
Don't do it unless you can make sure you have everything in writing. I am dealing with a nightmare now. I'm paying for services I never received & my account from ZuntaFi has been sent to Universal Credit and I'm not even 30 days late in payments but I asked for a refund and they only paid $500 from 248x5. I complained to FTC, CFTC, and BBB so they sent it to Universal credit to ruin my credit. I'm old, a breast cancer survivor & raising an orphan. I just wanted to try to give her a better life. I think I need to file a complaint in court because I am paying for services I never received. I think you need to really think about what you are about to do. I need to find his agent of service.