Their story isn’t all that unique from other real estate millionaires, but there are a few twists. Bryson Block and Inayah McMillan were two college dropouts, in fact they didn’t even make it through their Freshman year.
However, these aspiring entrepreneurs bounced around from this and that, with Inayah working dead end jobs as a nanny and makeup artist, and Bryson taking his hits in trading forex and eCommerce.
That’s when they found AirBnB and haven’t looked back since. Real Estate investing always appealed to them, but they had one major roadblock… they were BROKE!
So, they had to use a little bit of ingenuity because getting loans for 20% down was just out of the question. So they started calling property owners to see if they would work out a deal and got their first one under contract at the ripe old age of 19.
That first property ended up making them $4,500 per month which was crazy money for a couple of kids who didn’t have two nickels to rub together. I’m sure you can guess their next move – Yup, they found more properties (10 to be exact) and had a profitable business pulling in $60,000 per month!
They decided to celebrate by buying a pimped G-Wagon, because since they were too young to drink, they had to spend that money on the next best thing.
Bryson says that if you want to make money in real estate, but have no money to get started, then Rental Arbitrage is a good option. Of course, you’re gonna get a lot of Landlords turning you down, but you will eventually get one to give you a shot.
Inayah says your best approach is to be as professional as possible which is why she says that you need to have a company on the books that specializes in short-term rentals (STR) instead of some no-name kid wanting to try his hand at AirBnB. And since you’re gonna get a lot of NOs before that big YES, you’re gonna have to play the numbers game.
You need to know what your ratios are.
How many many emails will you need to send out to Zillow listings before you find a property owner to roll the dice?
Now getting that first YES is just the beginning. You’re gonna need 1 ½ months rent, a security deposit and enough scratch to furnish the property. The problem is that if you don’t have that kind of money on hand, where do you go?
Inayah says that the two of them combined have a $250,000 total credit limit with all the credit cards they opened under their LLC, and a few of those there were able to get 0% for up to 18 months. If you play your cards right, and keep your break even point to 6 months, you can pay off your cards at the end of the month without owing any interest – which means now you’re basically printing money.
After a few months, they decided to create their AirBnB Breakdown course and sell it for $50. With so many people jumping on board and adding more training, they started to raise the price, bit by bit, until they reached a sweet spot of $1,497. In just a little over a year, they signed up nearly 1,000 students from all walks of life.
Bryson and Inayah will teach you how to:
- Create your LLC
- Set up your business credit
- Furnish your AirBnB
- Create your listings
- Set up management
- Private community access
- And more…
Their course comes with a 30-day money back guarantee, so long as you can prove that you did everything they teach in the course. Honestly, these two kids are an inspiration to people like me, but with all the horror stories I’ve read about AirBnB Arbitrage business model, it might be a minute before I pull that trigger.