All Forum Posts by: Albert Ng

Short answer: I wouldn't start an SFR airbnb in San Jose unless I have to.

I have an airbnb house in San Jose (have to do STR due to our circumstance) . On average, after all the expenses, I make about $500 - $1000 more per month compare to long term rental. However, it is quite a lot of work and can be stressful at time dealing with guests, specially when you are new. It's not passive investing at all, more like running a business.

@Yandry Mastromihalis

What kind of debt? Perhaps filling for bankruptcy is a better way?

@Anthony Rosa

It’s the effect of rent control. Without rent control, landlords love long term tenants. With rent control, landlords target students, ... who won’t stay for too long & would be very happy when their long term tenants move.

I personally know a guy who rented a 3 bed / 2 bath apartment in San Francisco for a long time & paying less than $500/month. He has a couple houses, but still hand on to his apartment.

@Joe Alford

The law prohibits age discrimination! A tenant is a tenant, and a 30 years rental is still a rental.

@Shiloh Lundahl

Jay’s comment is spot on. The guru mentioned in this topic fall into type 1 or 2 on his post, teaching flip with promise of easy money to newbies. I did a quick search in the BP forum, and most of his students’ positive comments were updated with no result 6 months, a year down the road.

If you shoot your mouth about this and that, then of course you can get in trouble. All you have to do is tell them you found a more qualify applicant.

No, you won't be able to cover all your rent by just airbnb one room. You can do a quick calculation by looking at how much airbnb host charge per room, and don't forget to factor in vacancy.

Also, airbnb is not passive investing. You will have to clean the room each time the guests move out.

 @Shiloh Lundahl,

Agree with you that not all mentor / gurus are bad, and if you pay 25K, but practice what were taught 250 times, it comes out just $100 each time. However, there's a diverse crowd here on BP, and not everyone is at your level. $25K can be a dinner for some BPers, a month income for some other BPers, or a total bank account balance for some other BFers.

In OP's case, he's young, and new. There's much better use for his money than dropping it on a guru program, after which, he probably won't even have any fund left to practice what were taught 1 time. In my opinion, a good / ethical guru shouldn't even market to or accept OP as a student for such an expensive program.

@Dillon Dull

Don’t let them go late. They’ll never catch up.

@Joe Villeneuve

First, you should let others know that you are / trying to be a mentor yourself. That does add bias to the discussion.

You keep trying to sell the 50/50 profit split & ignore the 25K up front fee. If the mentor is the real deal, he would do 0 up front fee, and 50/50 profit split. In this case, the mentor make 25K per students, and use the 50/50 profit splits as a deniable promise to make the students think they can make $500K.