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

[Alecia Loveless]

@Heather McNicol I’ve paid for 2 mentorship courses thinking they’d help me get to the next level only to realize I’d wasted my money on both of them to the tune of about $12,000 all told that I could have used as a partial down payment on my next property.

I think there's plenty of books and plenty of podcasts to get you the information you need for less than $300 and then you'll have all the remaining cash to do your first STR with.

I’ve learned my lesson. With AI out there now anyone can say what they want about how great they are and write a course in less than a week.

I even had one slick guru recently try to sell me on creating my own course if I joined his program for $10,000 and they'd walk me through the steps of creating it and help me market it on doing LTR, and BRRRR and when I objected and said I've only currently got 7 buildings now with 25 units and have sold 7 over the course of years I've been doing it he said we'd focus on the deals I've been doing where I'm getting ARVs of $200,000-400,000 and not my actual numbers of properties owned. I ended up thanking him and hanging up.

So you see these guys will try to sell you anything they can and get your money as quickly as possible.

Don’t be afraid to use your knowledge and jump in and do that first deal. You’ll learn way more hands on than spending money and another 6 months being led on by someone who is playing you.

[Michael Baum]

All the info you need is right here on this forum. Search and ask.

[Ximin Li]

I was looking at BNB investor Academy too. Seems they will have process, and software system to help and teach. Would it be profitable if I just want some extra money to host airbnb without owning properties? Are they legit on this kind of business? Thanks.

[Ximin Li]

Quote from @Michael Baum:

All the info you need is right here on this forum. Search and ask.

Also looking at https://www.strsecrets.com/strmasterclass from Michael Sjogren. Is it worth to invest and learn from their program in order to start my co-hosing STR side business just to get some extra money monthly? Thanks ahead.

[Travis Timmons]

No. It's not that hard to start and run a short term rental. Do your underwriting and be conservative in your estimates. Get your finances in order. It's going to be expensive to buy a house and a bunch of furniture. Then go buy a house, furnish it, list it on Airbnb and VRBO. Find a cleaner and a few good handy men or tradespeople. That's it. Don't pay someone $10k to teach you that. Dozens of folks here would help you for free. Don't pay for a mentorship or mastermind program.

If you want to co-host. Be a good host with your own property and then start calling other local STR owners. It's not that complicated or worth paying someone several thousand dollars.

Love the name STR Secrets as well. His secret is that he likely bought his properties between 2017 and 2021.

[Michael Baum]

Quote from @Ximin Li:

Quote from @Michael Baum:

All the info you need is right here on this forum. Search and ask.

Also looking at https://www.strsecrets.com/strmasterclass from Michael Sjogren. Is it worth to invest and learn from their program in order to start my co-hosing STR side business just to get some extra money monthly? Thanks ahead.

I would never pay for it. Like I said, everything is here.

[January Johnson]

The Short Term Show

The Short Term Rental Management Show

The Short Term Shop all day long.

[Sarah Lundrigan]

I've been trying to get my money back since week 2 of joining.  All content is available online and is not worth 10K. Reach out for more info...I'd be happy to give more details. 

[Ximin Li]

Quote from @Sarah Lundrigan:

I've been trying to get my money back since week 2 of joining.  All content is available online and is not worth 10K. Reach out for more info...I'd be happy to give more details. 

Hi Sarah! Which program did you try? Also, when they said they have "network" to find investers/property owner to land my offers, and "system" to calculate profits in order to show whoever owns the property short term rental is the more profitable option. Would these be available online for everyone? As a newbie I need some directions to start with. Thank you very much!

[Avery Heilbron]

To win the STR game, especially if you're a new entrant, the most important aspects are

1) Amenities

2) Location

3) Property type

4) Uniqueness

All are geared toward you standing out on Airbnb/VRBO

Hot tubs, fire pit, bowling alley, pools etc. or being in the best location in an area as well as being to host a large group are all things to help you win. The process and management will take you 1-5 youtube videos to learn about. The big issue is people just buy a 3bed2bath and put okay furniture in it and expect to cash flow $5000/month. It won't happen.

These course gurus are good at what they do, but they will most likely give you these tips which are expensive to set up. Building a sport court will run like $30 grand, but would increase your rental value. 

a 6bedroom 4 bath house with a sport court, hot tub, fire pit, mini golf, arcade etc. will most likely crush it because it's cool. But that's expensive.

Co-hosting is an easy start in airbnb. I do some of that and own some too, but I always prefer my long term rentals. Way less work.

[Heather McNicol]

Quote from @Avery Heilbron:

To win the STR game, especially if you're a new entrant, the most important aspects are

1) Amenities

2) Location

3) Property type

4) Uniqueness

All are geared toward you standing out on Airbnb/VRBO

Hot tubs, fire pit, bowling alley, pools etc. or being in the best location in an area as well as being to host a large group are all things to help you win. The process and management will take you 1-5 youtube videos to learn about. The big issue is people just buy a 3bed2bath and put okay furniture in it and expect to cash flow $5000/month. It won't happen.

These course gurus are good at what they do, but they will most likely give you these tips which are expensive to set up. Building a sport court will run like $30 grand, but would increase your rental value. 

a 6bedroom 4 bath house with a sport court, hot tub, fire pit, mini golf, arcade etc. will most likely crush it because it's cool. But that's expensive.

Co-hosting is an easy start in airbnb. I do some of that and own some too, but I always prefer my long term rentals. Way less work.

 Thanks Avery :)

[Josh Lee]

I went through the academy and had a great experience personally.

Everything is constantly updated, community very active, and most importantly, they actually coach you 1:1 and help you make important decisions.

Michael is a super transparent dude, shows us all of his numbers, and after an hour conversation with him, you can tell he's actually an expert with STR's. Plain and simple, knows his stuff.

Like anything in life, you have to put in the effort. (which I feel like a couple of these other comments talking negatively didn’t at all)

If you just show up, they basically hold you by the hand in terms of market selection, deal analysis, financing, design, setup, the listing, pricing strategies, management, etc.

[Travis Timmons]

That's fun - two first time posters singing the praises of this program One of which, Nick, works for the company based on his LinkedIn profile. 

Can you guys just stop? The program may have merit. Let it speak for itself or let people figure it out on their own. Don't spam the BP forums with this nonsense. 

I'll offer some free help and advice for anyone that wants to reach out. I feel like you can find plenty of that here. We're not curing cancer; it's just buying real estate, doing some basic math, buying some furniture and kitchen utensils, maybe getting creative with some amenities, and listing properties on STR platforms...it's daunting when you're new, certainly a grind to get started, but it's not a mystery or puzzle to solve. Certainly not a problem worthy of paying $11k up front to figure out.

[William Miller]

Quote from @Sarah Lundrigan:

I've been trying to get my money back since week 2 of joining.  All content is available online and is not worth 10K. Reach out for more info...I'd be happy to give more details. 

 Hey Sarah have a few questions for you about BNB Investor Academy. My wife and I have been seriously considering but want to  hear your experience since you were an actual member of the program. Thanks!

how is best for me to contact you?

[Raul Perez]

Hi everyone, just sing up for this forum and was looking into Michael Elefante content, I'm glad there seems a lot of reading out there. Has someone started like ME claims cashing out his 401K? We are you guys able to quit your 9-5 life? 

[Brian Locker]

Quote from @Raul Perez:

Hi everyone, just sing up for this forum and was looking into Michael Elefante content, I'm glad there seems a lot of reading out there. Has someone started like ME claims cashing out his 401K? We are you guys able to quit your 9-5 life? 

I have! I went through the BNB turnkey process and have a cash flowing Airbnb live and operating. Anyone who is considering going the “Turnkey” route where someone finds the market, designs and furnishes it and wants to learn an unbiased opinion feel free to reach out to me at [email protected]. Don’t laugh at my teenage email address. 😂

[Yiwei Cheng]

I think there is value in having a mentor & someone who has done it so you can ask questions to. I don't entirely agree with figure everything out yourself bc you don't need to reinvent the wheel. You may have different questions or your situation is different. I know I learn by asking questions and getting answers from people, not Googling for a long time. Time is also valuable, so it could be worth it to find someone who can fast track you. I would recommend finding someone who is actually doing STR for a while, have the results you want, or even a property manager in the area you are looking.
I completely believe in paying for expertise but I want to see results first and it has to be someone I look up to.

[Jill Kirby]

I just jumped in to the short-term rental market. Do I have butterflies in my stomach? Yes. Am I wondering what I've gotten myself into? Yes. But, I'm going to figure it out!

[John Underwood]

Quote from @Jill Kirby:

I just jumped in to the short-term rental market. Do I have butterflies in my stomach? Yes. Am I wondering what I've gotten myself into? Yes. But, I'm going to figure it out!

 Welcome. It is exciting. Do your research and you'll be fine.

[David M. Johnson]

Quote from @John Underwood:

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

 are you referrring to Avery Carls book 

• Short-Term Rental, Long-Term Wealth
• Your Guide to Analyzing, Buying, and Managing Vacation Properties

[Blake Condon]

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!

Hey Im just getting started here! Was going to purchase a course but want to get my feet wet first. Would love some guidance if possible. 

[January Johnson]

Quote from @Blake Condon:

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!

Hey Im just getting started here! Was going to purchase a course but want to get my feet wet first. Would love some guidance if possible. 

Sent you a PM!