10XBNB vs BNB Formula: Honest Comparison for Rental Arbitrage (2026)

If you’re comparing rental arbitrage courses in 2026, 10XBNB and BNB Formula will show up on every list. Both programs teach rental arbitrage, the model where you lease properties, furnish them, and list them on Airbnb for profit. But the two programs have taken very different paths since launching, and the gap between them keeps widening.

This comparison lays out the verified facts: pricing, founder involvement, student results, and reputation data from the BBB and Trustpilot. No hype. You can decide which rental arbitrage course fits your situation.

Quick Comparison: 10XBNB vs BNB Formula

What Is BNB Formula?

BNB Formula is a rental arbitrage course founded by Brian Page in 2016. Brian is a real estate investor based in Charleston, SC who started in real estate in 2001, lost everything during the 2008 crash (he’s publicly stated he owed the IRS $1.3 million), and eventually discovered Airbnb around 2015 as a way to rebuild.

The core idea behind BNB Formula: lease apartments or houses, furnish them, and list them on Airbnb for short-term rental income. Brian was one of the first people to teach this model publicly, which gave BNB Formula a serious first-mover advantage in the rental arbitrage courses market. He also published a book through HarperCollins Leadership in October 2022 called “Don’t Start a Side Hustle!” which boosted his visibility.

The numbers Brian’s team reports: $33 million in total program revenue as of 2022, 25,000+ students across 47 countries, and claims that students can earn $5,000 to $10,000 per month with Airbnb arbitrage. The BNB Formula Facebook group has around 4,000 members.

BNB Formula Pricing Breakdown

BNB Formula uses a tiered pricing model with multiple upsells:

• Self-Paced Course: $997 (base access, 30-day money-back guarantee)
• Masterclass: $1,997
• Coaching Package: $2,997 (no refund per their terms)
• High-Ticket Mentorship: $10,000 to $30,000

The pricing structure isn’t always transparent upfront. Several student complaints on both the BBB profile for BNB Formula and Trustpilot mention unexpected upsells after purchasing the base course. That’s something to watch for if you’re budgeting for a rental arbitrage education.

What Is 10XBNB?

10XBNB is an Airbnb education program founded by Shaun Ghavami. Unlike most course creators in this space, Shaun still actively manages rental properties. He’s not retired from operations. He’s in the trenches doing deals, negotiating leases, and running his own Airbnb portfolio alongside his students.

The program teaches three distinct paths into the short-term rental business: co-hosting (manage other people’s properties for a revenue split, with $0 startup cost), rental arbitrage (lease and sublease), and property ownership for people ready to scale into buying. That flexibility matters because not every student walks in with the capital to sign a lease on day one.

10XBNB reports 1,600+ verified students, a 73% profitability rate within 90 days, and an average of $2,100 per month per property. Shaun runs live coaching calls five times per week, and he’s the one on the calls. Not staff. Not subcontractors. Shaun.

Head-to-Head: How the Two Programs Compare

1. Founder Involvement (Who’s Actually Coaching You?)

This is the single biggest difference between these two rental arbitrage courses, and it’s worth understanding clearly.

Brian Page has stepped back from day-to-day operations at BNB Formula. Reports from students and public information confirm he works from his personal yacht and is no longer the person running coaching calls. Staff coaches handle student interactions. For a $997 self-paced course, that might be fine. For a $10,000 to $30,000 mentorship package, the absence of the founder raises questions.

Shaun Ghavami at 10XBNB leads live coaching calls five days a week. He also still operates his own rental arbitrage and co-hosting portfolio. When students ask about analyzing a specific city, lease negotiation tactics, or how to handle a difficult landlord, they get answers from someone who dealt with the same situation last week. Not last year. Not five years ago.

If founder access matters to you, the gap here is wide. And in a business like rental arbitrage where local regulations, seasonal pricing, and landlord relationships change constantly, getting advice from someone who’s actively operating is worth more than a course recorded two years ago.

2. Pricing and Upsell Structure

BNB Formula’s pricing ranges from $997 for the base self-paced course up to $30,000 for high-ticket mentorship. The challenge: the base course gives you limited access, and several Trustpilot and BBB reviewers describe a funnel that pushes you toward more expensive tiers after you’ve already paid. The coaching packages ($2,997+) carry no refund policy.

10XBNB takes a different approach. Pricing is discussed on a strategy call where the team explains what’s included before you commit. There are no hidden tiers or surprise upsells after enrollment. The co-hosting path also gives students a way to start earning from Airbnb arbitrage with zero upfront capital, which BNB Formula doesn’t offer.

To understand what rental arbitrage startup costs actually look like, check our full breakdown. Knowing the real numbers before you enroll in any program is the smartest thing you can do.

3. Student Results and Accountability

BNB Formula claims 25,000+ students and income potential of $5,000 to $10,000 per month. Those are big numbers. But the program doesn’t publish verified outcome data, and the BBB complaint history (66 complaints in three years, 19 left unanswered) suggests a meaningful number of students aren’t getting the results they expected.

10XBNB reports 1,600+ verified students with a 73% profitability rate within 90 days and an average of $2,100 per month per property. The student count is smaller, yes. But “verified” is doing real work in that sentence. 10XBNB also maintains a 4.5/5 rating on Trustpilot from over 600 reviews, which is 2.3 times the review volume of BNB Formula at a higher average score.

Bigger isn’t always better when it comes to rental arbitrage courses. A program with 25,000 students and an F rating at the BBB tells a different story than a program with 1,600 verified students and a 4.5 Trustpilot score.

4. Reputation and Trust Signals

Let’s look at the public record.

BNB Formula:

• BBB: F rating, not accredited, 66 complaints filed in 3 years, 19 complaints left unanswered
• Trustpilot: 3.9/5 from 260 reviews. Recent 2025 reviews trend heavily toward 1-star, with complaints about unpaid settlements, unauthorized charges, and students being ignored after paying for coaching

10XBNB:

• Trustpilot: 4.5/5 from 600+ reviews
• Active student community with direct founder access
• Live coaching calls five times per week

The BBB F rating is a fact, not an opinion. An F rating from the Better Business Bureau means the organization has a pattern of unanswered complaints and unresolved customer issues. 19 unanswered complaints out of 66 total is a 29% non-response rate. For a company selling products up to $30,000, that’s a data point worth taking seriously.

5. Business Model Flexibility

BNB Formula teaches one thing: rental arbitrage. You sign a lease, furnish the property, and list it on Airbnb. It works. Thousands of people earn income this way. But it requires upfront capital (first month, last month, security deposit, furnishing) and it locks you into lease obligations regardless of seasonal demand.

10XBNB teaches three paths:

1. Co-hosting: Manage existing properties for landlords and homeowners who want Airbnb income but don’t want to do the work. Zero startup capital required. You earn a percentage of revenue
2. Rental arbitrage: The traditional lease-and-list model, with training on local research, lease negotiation, and furnishing on a budget
3. Property ownership: For students ready to buy investment properties and maximize returns through short-term rentals

The co-hosting entry point is a genuine differentiator. If you’re exploring how co-hosting income works, it can be a lower-risk way to learn the business before committing to a lease. BNB Formula doesn’t teach this model.

BNB Formula Reviews: What Students Report

BNB Formula has enough public review data to form a clear picture. Here’s what shows up consistently across the BBB complaint filings and Trustpilot reviews.

Common complaint themes from BNB Formula students:

• Unpaid settlements: Multiple BBB complaints reference agreements to refund or settle that were never honored
• Unauthorized charges: Some reviewers report being charged for products or tiers they didn’t explicitly agree to purchase
• Unanswered support requests: 19 of 66 BBB complaints were never responded to by BNB Formula, which contributed directly to the F rating
• Coaching access issues: Students who paid $2,997+ for coaching report difficulty reaching coaches and receiving generic advice rather than personalized guidance
• Founder absence: Multiple reviews mention that Brian Page is not involved in the coaching process despite his name and story being the primary marketing hook

To be fair, BNB Formula also has positive reviews. Some students have genuinely built profitable Airbnb arbitrage businesses using the training. Brian Page’s background in real estate is real, his book is published by a major publisher, and the core rental arbitrage model he teaches does work when executed properly. The question isn’t whether rental arbitrage works. It’s whether BNB Formula in 2026 delivers the support and accountability that students need to succeed.

The recent trend on Trustpilot is concerning. While the overall 3.9/5 rating looks acceptable, the 2025 reviews skew heavily toward 1-star ratings. That downward trend matters more than the historical average when you’re making a purchasing decision today.

One pattern worth noting: several negative reviews mention being promised personal mentorship as part of the higher-priced coaching tiers, then discovering that the actual coaching came from staff members they’d never heard of. When you’re paying $2,997 or more for a rental arbitrage course, knowing exactly who coaches you is a reasonable expectation.

Who Should Choose BNB Formula?

BNB Formula might still make sense for a specific type of learner:

• You want a self-paced course at the $997 price point and don’t need live coaching
• You already have rental arbitrage experience and just need a structured refresher
• You prefer learning from pre-recorded content on your own schedule
• You’re comfortable with the risk of limited support after enrollment

If you fit that profile, the base BNB Formula course could work. Just avoid the high-ticket upsells unless you’ve independently verified what’s included and confirmed the refund terms in writing. And read the BBB complaints before you hand over your credit card. The patterns in those complaints are specific enough to tell you exactly what to ask about before enrolling.

Who Should Choose 10XBNB?

10XBNB tends to be the better fit if:

• You want direct access to a founder who still operates in the rental arbitrage and co-hosting market
• Live coaching matters to you (five calls per week with Shaun is a lot of access)
• You’re starting with limited capital and want the co-hosting path as an entry point
• You want flexibility to move between co-hosting, Airbnb arbitrage, and buying properties as you grow
• Third-party reputation data (Trustpilot 4.5/5 from 600+ reviews) factors into your decision

Use the Airbnb arbitrage calculator to run your own numbers before committing to any program. Real math beats sales promises every time.

The Verdict

Brian Page pioneered the rental arbitrage education space. That’s real, and he deserves credit for it. BNB Formula was early, grew fast, and taught thousands of students the basics of Airbnb arbitrage. The HarperCollins book, the $33 million in program revenue, the 25,000 student count. Those are real accomplishments from a program that had a legitimate first-mover advantage in rental arbitrage courses.

But the 2026 picture tells a different story. The BBB F rating with 19 unanswered complaints. The Trustpilot review trend turning negative. The founder stepping back from coaching. The opaque pricing with upsells reaching $30,000. These are public facts, not opinions.

10XBNB offers founder-led coaching five days a week, three business models instead of one, a $0-entry co-hosting path, and a Trustpilot rating of 4.5/5 from more than double the reviews. The student count is smaller (1,600+ vs 25,000+), but verified results and active support beat raw enrollment numbers when your money is on the line.

If you’re serious about building an Airbnb business in 2026 through rental arbitrage or co-hosting, the data points in one direction. But don’t take our word for it. Check the best co-hosting course comparison, read the reviews yourself, and make the call that fits your goals.

One last thing. The rental arbitrage market in 2026 is more competitive than it was when Brian Page launched BNB Formula in 2016. Property owners are smarter about short-term rental income. Cities have passed new regulations. Airbnb’s algorithm has changed. The course you pick needs to teach the current playbook, not the 2018 version. That’s where active founder involvement and live coaching become real business advantages, not just marketing points.

Frequently Asked Questions

Is BNB Formula legit?

BNB Formula is a real company that has been operating since 2016 and has generated $33 million in program revenue. The rental arbitrage model it teaches is legitimate. However, BNB Formula has an F rating from the Better Business Bureau with 66 complaints (19 unanswered) and recent Trustpilot reviews from 2025 trend toward 1-star ratings. The program is real, but the customer service track record raises concerns.

How much does BNB Formula cost?

BNB Formula pricing starts at $997 for the self-paced course, $1,997 for the masterclass, $2,997 for coaching, and $10,000 to $30,000 for high-ticket mentorship. Only the $997 base course carries a 30-day money-back guarantee. Coaching packages have no refund policy according to their terms.

Does Brian Page still run BNB Formula?

Brian Page founded BNB Formula but has stepped back from the CEO role and day-to-day operations. Staff coaches run the coaching calls. Brian is not the person you’ll interact with if you enroll in the coaching or mentorship tiers.

Can you start rental arbitrage with no money?

Traditional rental arbitrage requires upfront capital for lease deposits and furnishing, typically $3,000 to $5,000 per property. 10XBNB teaches a co-hosting model where you manage other people’s listings for a revenue share, which requires $0 in startup capital. BNB Formula does not teach co-hosting. Check our rental arbitrage startup costs guide for exact numbers.

What is the difference between rental arbitrage and co-hosting?

Rental arbitrage means you sign a lease on a property, furnish it yourself, and list it on Airbnb. You keep the profit between what Airbnb guests pay and your lease cost. Co-hosting means you manage someone else’s property on Airbnb and split the revenue. Co-hosting has no lease risk and no furnishing costs, which makes it a popular entry point for business development in the short-term rental space.

Which rental arbitrage course has better reviews?

10XBNB has a 4.5/5 Trustpilot rating from 600+ reviews. BNB Formula has a 3.9/5 rating from 260 reviews, with recent 2025 reviews trending heavily toward 1-star. 10XBNB also has no BBB complaints, while BNB Formula holds an F rating with 66 complaints and 19 left unanswered. See our full comparison of rental arbitrage courses for more programs.

Is rental arbitrage still profitable in 2026?

Yes, but market analysis matters more than ever. Airbnb arbitrage profitability depends on your market, lease terms, occupancy rates, and operational costs. Programs like 10XBNB train students on market analysis and property selection to avoid saturated markets. The 10XBNB program reports students averaging $2,100 per month per property with a 73% profitability rate within 90 days.