I’ve been considering this for a long time. I live In New York so I feel the competition would kill since I’m new to this whole thing. Would I be making a mistake paying the $997 for the Bnb formula? Anyone ever did this or are involved with Bnb ?
Rental Property Investor · Melbourne, FL · Member since 2011 · 3k+ posts · 2k+ votes
6y
People have posted successful systems, right here on BP. I recently spent 80 hours like @Luke Carl recommended, gathering information.
I called local municipalities to confirm local areas were accepting or rejecting short term rentals. Then I subscribed to AirDNA to get location specific data. Lastly, I bought a house that would work for long term tenancy. And I got it kitted out for short term rentals with a theme, took bright photos that aligned with a YouTube video I found on taking great room photos, and I was off and running. I have not been disappointed thus far.
Hatfield, PA · Member since 2012 · 1k+ posts · 629 votes
6y
If you are new to short-term rentals, you should not be doing Brian page or Arbitrage. Arbitrage is a high-risk thing that depends on precise knowledge and process. If you are New York City or a large city I would stay way away from it
Rental Property Investor · Tennessee Florida · Member since 2016 · 4k+ posts · 5k+ votes
6y
@Lamonte Menifield Not a lot of love for arbitrage on this forum as it’s not exactly investing. I’m not here to yell you not to do it but I’d spend a good 80 hours obsessing on this forum and reading books like
@Brandon Turner no and low money down before you take the plunge in to Brian Page.
Rental Property Investor · Melbourne, FL · Member since 2011 · 3k+ posts · 2k+ votes
6y
People have posted successful systems, right here on BP. I recently spent 80 hours like @Luke Carl recommended, gathering information.
I called local municipalities to confirm local areas were accepting or rejecting short term rentals. Then I subscribed to AirDNA to get location specific data. Lastly, I bought a house that would work for long term tenancy. And I got it kitted out for short term rentals with a theme, took bright photos that aligned with a YouTube video I found on taking great room photos, and I was off and running. I have not been disappointed thus far.
Investor · The worst town to live in, KS · Member since 2016 · 4k+ posts · 4k+ votes
6y
The Brian Paige course is a business transaction. With every business transaction, someone ends up richer and someone ends up wiser. If you take the course, I don't think you'll end up richer.
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!!
Property Manager · Poconos, PA · Member since 2020 · 443 posts · 264 votes
3y
@Lamonte Menifield I would not do this just yet. I would scour through these forums on the Arbitrage topics as you can gain more information from these forums alone than what you will be able to garner from a single course. P.S. a lot more can be done with $1K in Real estate than you could imagine. I've wasted so much money on courses and I regret it more than anything I've ever done so make sure you're using the capital that you're putting into your business to get an ROI and not diminishing returns.
I did the Brian Page program myself and I have to say it worked well and it was worth it. However, I do believe you don't need to pay almost $10,000 for that information as it is $9,997 not only $997. I do believe they have great knowledge and information and you can make a lot of money if you do it right. It does require a lot of time and due diligence, so unless you have the funds and willing to do the work, don't sign up! I did it and I don't regret it, it was great but I do believe I paid too much for info that I could've gotten for way less, if not free.
Also, once you open and LLC and obtain an EIN, look into getting Buiness funding right away and use that money for coaching and what else, instead of your own money!!! Wish someone helped me out with that when I first got started. Would've changed my journey a lot!! lol