BNB Investor Academy - Reviews?

[Heather McNicol]

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.

Thanks,

Heather

[John Underwood]

DO NOT pay for what is readily available here in this forum and in Avery's book.

[Michael Baum]

Hey @Heather McNicol. I agree with @John Underwood 100%. You don't need to pay a bunch of cashola just to learn what you can learn right here.

Grab Avery's book and ask questions right here. STR internet guru's seem to be coming out of woodwork the last couple of years.

[Briana Smith]

The Short Term Rental Secrets Podcasts and Website by Mike Sjogren is pretty great for learning a ton and hearing from big players in the market that started from nothing.

https://open.spotify.com/episo...

https://www.strsecrets.com/abo...

[Heather McNicol]

Hi all,

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.

[Michael Baum]

Hey @Heather McNicol, we aren't anti-mentor. It's just we are skeptical of internet success stories who charge a bunch of money to teach you how they did things. We do that every day for free right here.

I understand your paralysis. Most of us had that on our first properties. Are we going to go bankrupt? Are STRs in our area going to get banned? Etc etc.

So, where are you thinking of buying your first place? What is your budget? What are you most concerned about?

[January Johnson]

Quote from @Heather McNicol:

Hi all,

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.

You may be like me and think that "one more book/podcast/course" will give me what I need to acquire whatever skill I'm looking for. But trust me, you just need to jump in. Luke Carl has a new STR Management podcast that I recommend as well as Avery's Short Term Show podcast. There is also a ton of help in their Facebook groups.

What's the analysis paralysis about?  I'd be happy to answer your newbie questions and push you out of your paralyzed state.  I do it on the daily for buyers from all over the US.  Plus, I run 4 of my own and started before there were mentors of any kind.  If I can do it, you can do it!

[Brooklyn McCarty]

What John said. 

Read Avery Carl's book. She also has a podcast, The Short Term Show and her husband Luke has a podcast, The Short Term Rental Management Show. 

They also have a HUGE community on FB full of STR investors who are ready to help each other and answer questions, Short Term Rental, Long Term Wealth.If you are going to pay for a course, I would check out BP's Short Term Rental Bootcamp.

[Heather McNicol]

Quote from @Michael Baum:

Hey @Heather McNicol, we aren't anti-mentor. It's just we are skeptical of internet success stories who charge a bunch of money to teach you how they did things. We do that every day for free right here.

I understand your paralysis. Most of us had that on our first properties. Are we going to go bankrupt? Are STRs in our area going to get banned? Etc etc.

So, where are you thinking of buying your first place? What is your budget? What are you most concerned about?

 Hi Michael,

I'm currently stuck on picking a market.  I'd like to start with arbitrage since I don't have much to invest upfront and can scale faster and then pivot to purchases.  I'm concerned about picking the wrong area since I'm looking out of state.  I live in WA. I'm not sure which places are best to focus on with rules and regulations getting strict in some places. 

I'm also looking to get my hands on a good calculator for short term rentals since I'm terrible with Excel and only have a calculator for long term rentals that I know is missing sections that are specific to short term.

Any help you can give me would be very much appreciated :)

[Heather McNicol]

Quote from @January Johnson:

Quote from @Heather McNicol:

Hi all,

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.

You may be like me and think that "one more book/podcast/course" will give me what I need to acquire whatever skill I'm looking for. But trust me, you just need to jump in. Luke Carl has a new STR Management podcast that I recommend as well as Avery's Short Term Show podcast. There is also a ton of help in their Facebook groups.

What's the analysis paralysis about?  I'd be happy to answer your newbie questions and push you out of your paralyzed state.  I do it on the daily for buyers from all over the US.  Plus, I run 4 of my own and started before there were mentors of any kind.  If I can do it, you can do it!

Thanks for your comments January!  Love your name by the way.  I definitely have a list of books and daily habit of listening to at least one podcast a day.  I just added those 2 podcasts to my list on Spotify, thanks for the rec.  Seems like a lot of people are recommended them here.  I'll start diving in.  I'm in a few Facebook groups and honestly I don't love the format and have a hard time remembering to pop into FB.  I'm more involved with Instagram these days :P

I'm currently stuck at the "pick your market" phase.  I keep hopping around from Florida to Nashville to North Carolina, maybe Ohio for the lower price point when I was considering buying more than arbitrage.  

My goal for this year is to get 5 STRs which seems more likely via arbitrage. For Q1, I want to get out of analysis paralysis, pick a market and pull the trigger on my first STR.  I think that's doable in the next month and half.  

[Heather McNicol]

Quote from @Brooklyn McCarty:

What John said. 

Read Avery Carl's book. She also has a podcast, The Short Term Show and her husband Luke has a podcast, The Short Term Rental Management Show. 

They also have a HUGE community on FB full of STR investors who are ready to help each other and answer questions, Short Term Rental, Long Term Wealth.If you are going to pay for a course, I would check out BP's Short Term Rental Bootcamp.

Hi Brooklyn!  Thanks for your recommendations!  I appreciate your time.  I just requested access to Avery's FB so hopefully I can hop in there soon.  I just finished her book and am now following her podcasts.  I didn't know her and her husband had podcasts until this forum thread :P  I'm actually signed up for the BP Short Term Rental Bootcamp that's starting next Monday.  I'm pretty excited about it.  I got it over the Black Friday sale last year and just received the email yesterday that it's starting.  I'll probably hold off on any other mentorship until that's over if I still feel like I need the extra help.  Have you done the Bootcamp?  How did you like it?

[Michael Baum]

Hey @Heather McNicol. Sorry, I can't help with arbitrage. It is not a strategy that I particularly like, especially when you are low on cash. The risk is too high of losing everything. It really isn't investing but creating a job for yourself.

Don't forget you will need between 10k and 25k for setup and furnishings if you are able to find someone who will allow arbitrage with their place. 

[Jewel B.]

Quote from @Heather McNicol:

Hi all,

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.

 There's always more to learn no matter who you are or how much experience you have. It sounds like you've been educating yourself. You need to turn education into action.

P.S. I'm not anti coaching or mentorship at all. I believe there can be great value in paid accountability as it really puts on pressure to perform and can provide you with someone to smack you out of paralysis. However, if you're that tight on funds, you may be better off slapping yourself haha. I'm also unfamiliar with that specific individual or the program costs or design.

[Jewel B.]

Quote from @Heather McNicol:

Quote from @Michael Baum:

Hey @Heather McNicol, we aren't anti-mentor. It's just we are skeptical of internet success stories who charge a bunch of money to teach you how they did things. We do that every day for free right here.

I understand your paralysis. Most of us had that on our first properties. Are we going to go bankrupt? Are STRs in our area going to get banned? Etc etc.

So, where are you thinking of buying your first place? What is your budget? What are you most concerned about?

 Hi Michael,

I'm currently stuck on picking a market.  I'd like to start with arbitrage since I don't have much to invest upfront and can scale faster and then pivot to purchases.  I'm concerned about picking the wrong area since I'm looking out of state.  I live in WA. I'm not sure which places are best to focus on with rules and regulations getting strict in some places. 

I'm also looking to get my hands on a good calculator for short term rentals since I'm terrible with Excel and only have a calculator for long term rentals that I know is missing sections that are specific to short term.

Any help you can give me would be very much appreciated :)

 BiggerPockets has an Airbnb calculator, and I see that you're a pro member.

Since you've read the STR book and done other education, you know HOW to pick a market lol. You just need to take a deep breath and pick one. Where would YOU want to go? Then research local regulations and tourism and data. You could look into doing a vacation home loan.

[Luke Carl]

Quote from @Heather McNicol:

Hi all,

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.

My phone number is in my signature here on BP. That's my actual cell number. You know how many people have picked up the phone to call me from that signature? Zero. Blows my mind. I've seen it all and done it all and I will talk your ear off. Feel free to call me. I also have the same last name as Avery if that gives me any street cred lol.   

I got to where I am by asking those that are successful about a million stupid questions. Including guys like @John Underwood and @Michael Baum

[Heather McNicol]

Quote from @Luke Carl:

Quote from @Heather McNicol:

Hi all,

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.

My phone number is in my signature here on BP. That's my actual cell number. You know how many people have picked up the phone to call me from that signature? Zero. Blows my mind. I've seen it all and done it all and I will talk your ear off. Feel free to call me. I also have the same last name as Avery if that gives me any street cred lol.   

I got to where I am by asking those that are successful about a million stupid questions. Including guys like @John Underwood and @Michael Baum

 Hahaha I would love to call you Luke!  I just went to immediately dial your number but I'm not seeing it in your signature :P  I messaged you privately as well.  I'm actually signed up for the BP Bootcamp course with you and Avery that starts on Monday.  I'm so excited to get going!

[Heather McNicol]

Quote from @Jewel B.:

Quote from @Heather McNicol:

Hi all,

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.

 There's always more to learn no matter who you are or how much experience you have. It sounds like you've been educating yourself. You need to turn education into action.

P.S. I'm not anti coaching or mentorship at all. I believe there can be great value in paid accountability as it really puts on pressure to perform and can provide you with someone to smack you out of paralysis. However, if you're that tight on funds, you may be better off slapping yourself haha. I'm also unfamiliar with that specific individual or the program costs or design.

 Hahaha I definitely do better when I have someone pushing me.  But I do need to slap myself into action more.  I'm hoping this BP bootcamp will be what I need to get amped into action! Accountability is key!

[Chuck Tracy]

Do not pay him. There are only a few people worth it and that's for their injectables (code) to rank at the top. 

[Alex McArthur]

@Chuck Tracy Do you have experience with Michael Elefante's program? Are there other programs you believe are more valuable?

[Leonora Steger]

What is Avery’s book? 

[John Underwood]

Quote from @Heather McNicol:

Quote from @January Johnson:

Quote from @Heather McNicol:

Hi all,

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.

You may be like me and think that "one more book/podcast/course" will give me what I need to acquire whatever skill I'm looking for. But trust me, you just need to jump in. Luke Carl has a new STR Management podcast that I recommend as well as Avery's Short Term Show podcast. There is also a ton of help in their Facebook groups.

What's the analysis paralysis about?  I'd be happy to answer your newbie questions and push you out of your paralyzed state.  I do it on the daily for buyers from all over the US.  Plus, I run 4 of my own and started before there were mentors of any kind.  If I can do it, you can do it!

Thanks for your comments January!  Love your name by the way.  I definitely have a list of books and daily habit of listening to at least one podcast a day.  I just added those 2 podcasts to my list on Spotify, thanks for the rec.  Seems like a lot of people are recommended them here.  I'll start diving in.  I'm in a few Facebook groups and honestly I don't love the format and have a hard time remembering to pop into FB.  I'm more involved with Instagram these days :P

I'm currently stuck at the "pick your market" phase.  I keep hopping around from Florida to Nashville to North Carolina, maybe Ohio for the lower price point when I was considering buying more than arbitrage.  

My goal for this year is to get 5 STRs which seems more likely via arbitrage. For Q1, I want to get out of analysis paralysis, pick a market and pull the trigger on my first STR.  I think that's doable in the next month and half.  

Your not getting any STR properties via arbitrage your just managing someone else's property and the owner is getting most of the benefit.

I get that you want to do this to earn money to hopefully buy your own property and then become an investor.

Have you looked into wholesaling? This is less risky and can earn you money quicker to use to buy investment properties.

Also ask burnt out landlords if they would sell with owner financing. Try driving for dollars. Ask for owner financing or wholesale anything you find.

I just don't recommend arbitrage to create a job for yourself.

[Michael Baum]

Quote from @Leonora Steger:

What is Avery’s book? 

Short Term Rentals, Long Term Wealth - https://store.biggerpockets.co...

[Leonora Steger]

Thanks ! Any other ones I should read after that? Newbie 😊

[Michael Baum]

Quote from @Leonora Steger:

Thanks ! Any other ones I should read after that? Newbie 😊

That has everything you need really. Spend time reading the forum. Do searches on questions you might have before posting it to see if it has been covered. I didn't have Avery's book and I just used the forum to get started.

[Sarah Lundrigan]

Hello,

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

[Filipe Gonçalves]

@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.