The BNB Bootcamp is a course by Michael and Katrina Stead that shows you how to make 6-figures in just 12 months with short term rental properties.
Renting your property in the short-term can be lucrative if you have the capital to purchase them, furnish them and pay for automation tools that will help you run a smooth short-term rental business. The problem with this business model is that there are many variables that are out of your control, the type of guests who stay at your property, maintenance issues, competitor pricing, and even a global pandemic.
To run a profitable short-term rental business, you need to learn from someone who has done it multiple times and who is an open book through their online course. Do Michael and Katrina reveal everything you need to know to make this business work for you?
If you want to make money with digital property instead of the hassle that comes with renting physical properties, the popular local lead generation business model is one to consider because it offers a passive income and low overhead. You control your business because you own your digital properties and there is no need to pay thousands of dollars for a physical property.
Pros
Michael and Katrina make over $200,000 with their Airbnb arbitrage business.
Students can text Michael and Katrina for help and, according to some students, they are are responsive.
You learn how to design, setup, and stage your property to maximize profits for your Airbnb business.
Automation training.
Cons
You have to be on-call 24/7 when renting out your properties in the short-term even if you have someone in place to manage things overnight.
Initial costs are high when looking for short-term rental properties.
It's your responsibility to fix any property damages.
Price
The BNB Bootcamp cost is provided to you over the phone and based on your needs.
Refund Policy
No refunds provided.
Training
Direct mentorship by Michael and Katrina on systems, processes, and strategies.
Reputation
Michael and Katrina have an excellent online reputation and are one of the top short-term rental hosts in the United States. If you look for BNB Bootcamp reviews you'll only see good things.
Three Things You Can't Control With Short-Term Rentals
1.Your Guests
When guests stay at your short-term rental, you can't control what they do. Some guests may intentionally or unintentionally damage your property. You can't completely stop them from having parties and you can't control how much noise they make. You can install noise monitors in case the noise gets too loud and you can continue to remind guests of Airbnb's policy of no parties. No matter what measures you put in place to control the noise, you'll never have full control. You will always be wondering if your guests will take care of your property. Do what you can and hope for the best.
2. Your Income
This business model doesn't allow you to control how much money you make. You do get to decide the rate you'll rent your room per day but your competitors can lower their rates with hopes of beating you out. This will only put you in a position to lower your rates and it will cut into your profits and make it more difficult to predict what you're going to make from one month to another. Even if you use a software to automate your rates, you will have the same issue.
3. Your Time
You need to be on-call 24/7 in case your guests have any maintenance-related issues. The air conditioning or hot water may not work and if they reach out to you at the early hours of the morning, you need to respond promptly. Even if you put someone in charge at night, they may still contact you if the issue requires your attention because they can't help your guests. The best you can do is put someone in place to manage messages at night and/or leverage automation to help your guests get the answers and solutions they need while they are staying in your property.
What do you learn in BNB Bootcamp Course?
In the BNB Bootcamp course, you learn:
- Business formation
- Branding
- How to convince a property manager to let you use their properties
- Property set up
- Listing optimization to improve your number of booked reservations
- Pricing
- 5-star guest service for 5-star reviews
- Delegating & automating (automated messaging)
- Cash flow management
- Scaling to multiple listings
Who are Michael and Katrina Stead?
Michael and Katrina Stead are successful short-term rental entrepreneurs from Edmonton, Alberta, in Canada. Michael worked in the finance field as a currency trader and loved what he did. Katrina worked in economic development, helping business get started and grow. Before making money with their short-term rentals, they tried many online business models, including affiliate marketing, stock option trading, FOREX, real estate investing, Amazon FBA, network marketing, and more, but they failed to earn a passive income. Their accountant also ill-advised them on how to handle their taxes from foreign sales properly. This put them $50,000 in debt and bankrupted their company.
After learning about the short-term rental business model and working 9-5 jobs again to build up the capital to get started in this new business, they launched 12 properties in their first year. They made over $3 million in just 3 years and now make over $200,000 every month across their over 60 properties in 3 markets. They now teach hundreds of people to achieve financial freedom with short-term rentals.
On social media, they have over 21K followers, but they rarely post content. When they do, it is all about how to make money with short-term rentals.
The BNB Bootcamp Review: Should you buy?
You should buy the BNB Bootcamp if you want to learn the short-term rental business model from highly successful people. Michael and Katrina rose from the depths of debt and bankruptcy to building a short-term rental empire where they earn over 7-figures per year. They figured out what systems and processes work and they teach it all in this course.
The BNB Bootcamp Success Stories
Steve worked as an IT consultant before joining the BNB Bootcamp. As he got closer to his retirement age, he realized that retirement plans and 401k's would not support him enough. He tried network marketing and the stock market, but nothing worked. Within 12 months of working with Michael and Katrina, he grew his business to over $200,000 and retired from his 9-5 job.
Adam used to work as a recruiter. He did not want to continue working his 9-5 job, so he got into real estate buying a duplex. He didn't have much profit from getting paid rent and wanted to make more money. Once he learned the skill of renting his duplex in the short term with Michael and Katrina's strategies, Adam and his wife made $70,000 in the first three months.
The BNB Bootcamp Alternatives
Airbnb Freedom Fast Track by Jonathan Farber will teach you how to get your first Airbnb property in the first 90 days of you joining the program and you learn how to implement automation tools that will help you manage your Airbnb listings with ease and minimal hassle. Jonathan teaches you which are the best cities to get properties, which credit cards are ideal for this business, and he hosts live coaching calls each Monday evening to provide further guidance and support to his students.
Price: The price is revealed over the phone.
More Info: Airbnb Freedom Fast Track Review
Beyond BnB Secrets by Dr. Chau teaches the corporate housing Airbnb arbitrage mentoring program. This method is slightly different from the more popular Airbnb short-term rental methods. Dr. Chau shows you how to find properties in gated communities that are the ideal locations employers look for to send their employees. You also learn how to get your listing setup on CHBO (Corporate Housing by Owner).
Price: The Beyond BnB Secrets price is revealed on the discovery call.
More Info: Beyond BnB Secrets Review
For more alternative Airbnb courses, check out my article on the top Airbnb courses.
Can You Still Make Money with Airbnb in 2024?
You can still make money with Airbnb 2024 if you have the capital to purchase or repair a property, and the patience to wait some time before you make a return on your investment. There are over 2 billion travelers in the United States, which means rental properties are need of beyond what hotels can provide.
Short-term rental properties with Airbnb can be profitable but it takes a lot more work and capital to get set up and manage. Being on-call can be a hassle and dealing with rowdy guests is something that at one point or another you may deal with. Rowdy guests may also lead to property damages, which forces you to pay more money for repairs. There is too much you have to pay attention to and deal with when you own short-term rental properties.
You can make money on a monthly basis with Airbnb, but owning and managing short-term rental properties on Airbnb doesn't offer you the benefits the local lead generation business model does.
Local Lead Generation Pays You Predictably Every Month
Local lead generation allows you to have control that an Airbnb short-term rental business won't.
You get to choose what niche and location to get into. You choose your Google ranking strategy, and the local small business that you're going to work with. Finally, you dictate. how much money that business owner is going to pay you each month. This income is what you can predict to make every month passively.
My tree care site is an example of a service site that has predictably paid me every month since I built it over 8 years ago.
As long as your lead generation websites and Google map listings are ranked at the top of the search results in the town of your choosing, they will generate leads for your local clients, who will have no problem paying you on-time.
This business model will help you have more time for yourself or to continue growing your business with ease and there's no need to worry about dealing with physical properties.
To learn how to build your digital real estate empire without being on-call 24/7 and dealing with unhappy guests and high initial costs, check out the local lead generation business model.
