Nick Korom from My BnB Accelerator says their company helps busy, overworked, underappreciated professionals start or scale their existing short-term rental business. They do all the legwork of finding and securing properties you can list on the Airbnb platform. So no, you won’t need to own anything: You’ll be doing rental arbitrage. And, within 45 days, you’ll have your first paid booking, Nick claims. Skeptical? Read on for my full review.
Nick runs BnB Accelerator with a business partner: Brett Watts. They both had successful lead gen agencies, joining forces in 2019 to dominate their niche (which was med spas). About a year ago they decided to get into real estate as well. Their team now manages over 25 properties. Even their coaches who help out inside the program—such as Rebecca and Dr. Connor—are killing it with Airbnb arbitrage. Walking the walk, telling it like it is, and the desire to be great is what sets ’em apart, Nick says.
Anyways, here are the five steps involved. Step 1: find landlords who’ll let you use their place. Step 2: negotiate terms. Step 3: tour the property and sign the lease. Step 4: you furnish the property using their checklists. Step 5: list it on Airbnb and start getting bookings. That’s short-term arbitrage, in a nutshell. And, contrary to what every Airbnb course is telling you, Nick doesn’t believe you can do all that on your own. Like unless you’re an absolute gangster at sales, these landlords will just hang up on ya.
And if you’re not sold on the arbitrage model, consider this: Even if you can come up with the $20-, $30-, $50-, $100k you’d need for a downpayment to buy a property outright, guess what? There goes your entire Airbnb profit for the first year. So you actually make more, faster, by not owning these places yourself. Makes sense, so what types of properties do Nick and company like to arbitrage? They focus on single family homes where there’s no HOA. And they run each one past the city council first before passing it onto you.
“Now, the number one reason people work with us,” Nick explains, “is they want something to free up their time, they want something that generates income that’s passive or semi-passive. If that’s you, I wanna introduce you to the OPP Method. Which of course stands for other people’s property. It’s the fastest way to get started. You don’t need to own any of these properties yourself. Start and stay highly profitable, right? And it’s very easy to duplicate this process over and over again.”
What if the properties they find for ya don’t end up being profitable though? Nick doubts that’ll be an issue. They use a proven software to vet homes that should have at least a 75% booking rate, if not more. And if that happens, you can expect $2- to $5k in net profit, per property, per month. By the end of year one, it’s not a stretch to think that you could have three such listings under your belt. Such that, if everything goes according to plan, you’d be looking at $6k to $15k per month in semi-automated Airbnb income.
In addition to the cost of the BnB Accelerator done for you service (which, they don’t say how much it is), assume you’ll need roughly $2k per month for each long-term lease you sign; then, whatever you can get each place furnished for, right? So it’ll still add up, but nowhere near as bad as buying the homes yourself. No clue how they can continually find these great arbitrage deals when it seems like everyone’s doing this now, but at the same time, everything I saw seemed super legit.