Shaun Ghavami, together with his friend Ari Rahmanian, founded Iconic Retreats. The said company let them oversee and manage a variety of luxurious real estate properties that generated over five million dollars in booking fees since 2018. This experience is what they’d primarily share on their 10xBNB private mastermind. Can it really take you from knowing nothing about Airbnb to building your very own business? I’ll answer that in my 10xBNB review below.
As if hearing my thoughts, 10xBNB listed out 10x reasons why they’re the real deal when it comes to all things Airbnb. The first one is something I already mentioned earlier and it’s them generating millions in booking fees with the thang. It’s their way of saying that they walk the walk.
Two, they’re not only thriving, but also doing well in terms of treating people right with Iconic Retreats. Having over a thousand five-star reviews says it all, although I don’t know where to check ‘em out. I only see a handful, maybe less than a hundred, but so far, they’re all praises towards the company.
Three, they claim to be the innovators of Airbnb’s bed flipping. According to them, this is a perfect strategy for beginners to break into the Airbnb space with no savings and no property of your own. The business model sounds new to me and I’m curious if it’s any different than the usual Airbnb approach *cough* rental arbitrage *cough*. But before I dig deeper into it, let’s just get over and exhaust their 10x list, um-kay?
And exhaust, I did. The rest of their 10x reasons are either a repeat of the first three reasons they listed out or just fluff. No, you don’t need to say that y’all run a successful Airbnb biz again, the first reason already covers that. And no, you don’t need to flex that you’ll be sharing proprietary formulas on pricing, revealing profitable niches in Airbnb, and providing info on how to automate the whole thang because it’s not really a flex. More of an expectation from a mastermind, I think.
Now we’re done with the 10x reasons, let’s move on with demystifying this so-called bed flipping. Thought this was just the same ‘ol rental arbitrage, but apparently, t’was not. That’s what I get when they’re like, we’ll teach you about bed flipping first, rental arbitrage second, then property acquisition last. Listing bed flipping and rental arbitrage out separately, so they must be different, right?
At first, I engaged with some mental gymnastics and linked bed flipping to what Shaun and Ari are doing on Iconic Retreats. That is, managing someone’s properties and putting ‘em up in booking sites like, well, Airbnb on their behalf. Or maybe it’s about renting out someone else’s bedroom instead of the whole place. Then, boom, realization hit me. Isn’t that just rental arbitrage?
I mean, look at what they’ve done earlier with their 10x reasons. It shouldn’t be surprising that they’re repeating the same thoughts over and over. An attempt to look unique and different, I guess? But whatever, them doing this actually reveals some of their bluff that’s enough for me to not recommend 10xBNB that probably cost around $3k. Of course, number one would be them adding the term bed flipping to the mix when it’s just very similar to rental arbitrage.
Another bluff would be them recycling a testimonial from the scummy Modern Millionaires and using it as their own. They’ve removed it already from their site, but still, why would they blatantly lie like that? Not that I’m surprised, I shouldn’t be because Shaun has close ties with the shady Abdul Farooqi, a co-founder of Modern Millionaires. What they say, birds of the same feather flock together.
Technically, 10xBNB can take you from knowing nothing to knowing something about building a business on Airbnb. However, the approach they’re suggesting is something I won’t recommend. Contrary to what they claim without any proof, I don’t think there would be landlords begging for you to host their properties.
Same with landlords agreeing to let you do rental arbitrage with it. I don’t think they’ll do that when one, they can host the properties to Airbnb themselves; two, they’re likely playing it safe and not risk their properties possibly be whored out by some random guests; and three, they might be unable to do short term rentals themselves with laws and regulations that make it illegal, let alone allow you to do one. So, yeah, it’s either illegal or a very very tough sell. Pass!