Shaun Ghavami co-founded 10XBNB after building a rental arbitrage and co-listing business from scratch. If you’ve searched his name, you probably want to know: who is this guy, what did he actually do, and can his program help you make money on Airbnb? I’ll break it all down here.
The short version: Shaun started with a spare bedroom listed for $65 a night. That side hustle grew into Iconic Retreats, a Vancouver company managing premium real estate valued at over $100 million through short-term rentals. He’s generated over $5 million in booking fees, earned 1,000+ five-star reviews, and now teaches the system through 10XBNB.
Here’s the full story.
From Iran to Wall Street
Shaun Ghavami’s family left Iran when he was young. They came to Canada without much and built a life from scratch. That background shaped how Shaun thinks about work and opportunity. He doesn’t take stability for granted, and he’s not afraid to start from zero.
He earned a finance degree from the University of British Columbia (UBC) and got certified through Training The Street, which is a program that prepares analysts for careers at major banks and financial firms. After school, he went straight into commercial banking.
For years, Shaun worked the typical 9-to-5 schedule. The pay was decent, the job was stable, and from the outside, everything looked fine. But here’s the thing: he was trading time for money, and no matter how many promotions came through, the core equation didn’t change.
He wanted more control. More upside. Something where effort could compound instead of getting capped by a salary band.
That shift came from an unexpected place: a spare bedroom in his rented apartment.
The $65 a Night Experiment
Shaun listed a spare room on Airbnb for $65 per night. He had no real estate portfolio, no savings set aside for property investment, and no experience in hospitality. What he did have was curiosity and a willingness to test something new while still working his day job.
The bookings came in faster than he expected. He woke up one morning, checked his phone, and realized he had earned money while sleeping. Not a lot at first, but enough to notice. That single moment changed how he thought about income. Why trade hours for dollars when a platform could generate revenue around the clock? And if one spare room could bring in $65 a night, what could five or ten properties do?
Within months, Shaun expanded from one room to managing multiple listings. He started learning the mechanics of rental arbitrage, the model where you sign long-term leases and re-list properties as short-term rentals on platforms like Airbnb and Vrbo. The math was straightforward: pay $2,000 a month in rent, earn $4,000 to $6,000 a month from guests, and pocket the difference.
But the model that really set him apart was co-listing.
Co-Listing: The Zero-Capital Model
Co-listing works like this: you find a property owner who wants to earn short-term rental income but doesn’t want to deal with the day-to-day management. You manage everything (listing creation, guest communication, pricing, cleaning coordination) and take a 20% to 30% commission on each booking. The property owner keeps the rest.
For Shaun, this was the real turning point. Co-listing removed the biggest barrier in real estate: capital. You don’t need a down payment. You don’t sign a lease. You don’t take on debt. You bring the skill set, the systems, and the work ethic, and the property owner brings the asset.
Think about how different that is from traditional real estate investing. To buy a rental property, you typically need 20-25% down, closing costs, renovation capital, and months of carrying costs before tenants move in. With co-listing, your startup cost is essentially your time. You build a listing, take professional photos, set up pricing, and start earning commission from bookings. If it doesn’t work out, you walk away with no financial loss.
That’s the model Shaun used to go from a single spare bedroom to a multi-million-dollar operation, and it’s the foundation of what he teaches inside 10XBNB.
Shaun and his business partner Ari Rahmanian scaled this model into a full operation. Together, they built Iconic Retreats in Vancouver and began managing premium properties, including homes used as filming locations for major productions (Vancouver is sometimes called the “Hollywood of the North”).
The numbers tell the story. Since 2018, Iconic Retreats has:
- Generated over $5 million in booking fees
- Hosted more than 3,000 guests
- Managed a premium real estate portfolio valued at over $100 million
- Earned Shaun 1,000+ five-star reviews and Airbnb Superhost status
One detail Shaun has shared publicly: he used his Airbnb earnings to buy his parents a house while still working in banking. For someone whose family came to Canada as immigrants with very little, that moment meant everything. It also proved that the co-listing and rental arbitrage model could generate real, life-changing money, not just side income.
Why Shaun Ghavami Started 10XBNB
After proving the model with Iconic Retreats, Shaun and Ari launched 10XBNB to teach others how to build the same type of business. The program covers three income strategies:
- Co-listing: Managing other people’s properties for a 20-30% commission, with no upfront investment required
- Rental arbitrage: Signing long-term leases and re-listing on Airbnb and Vrbo for short-term rental income
- Property acquisition: Buying properties specifically for the short-term rental market
10XBNB is not just a video course you watch and forget. It includes live weekly town hall meetings, a private Facebook community, coaching access, and done-for-you listing services for qualified students. Shaun and Ari are active inside the program, answering questions and reviewing student listings.
The program is designed for people at every experience level. You don’t need a real estate license, a hospitality background, or existing properties. Many students come in with zero experience and build their first listing within 30 to 60 days.
What separates 10XBNB from other Airbnb courses is the emphasis on co-listing as a starting point. Most programs jump straight to rental arbitrage, which requires lease payments and startup capital. Co-listing lets you learn the business, build a track record, and generate income before taking on any financial risk.
10XBNB Student Results
The best way to evaluate any training program is by looking at what students actually achieve. 10XBNB has published detailed student results across a range of backgrounds and markets.
Here is what real students have reported:
- A side hustler in Denver reached $2,100 per month in profit from one property while working 12 hours a week and keeping a full-time job
- A career changer in Nashville built a three-property portfolio generating $8,500 per month and left their job after six months
- A real estate investor in Phoenix scaled to 10 properties producing $24,500 per month
- A software engineer in Austin ran two properties part-time for $4,200 per month alongside a full-time W2 role
- A former restaurant manager in Charlotte replaced a $60,000 salary with $18,000 per month from six properties
These results vary by market, effort, and individual circumstances. Not every student hits those numbers, and Shaun is upfront about that. The business requires real work: finding properties, negotiating with owners, creating high-quality listings, managing guests, and staying on top of pricing.
But the framework is proven, and the support structure inside 10XBNB is built to help students move faster than they would on their own. The private Facebook community, live town halls, and direct coaching access mean you’re not figuring things out in isolation. You can ask questions, get feedback on specific listings, and learn from what’s working for other students in real time.
What Shaun Teaches Inside 10XBNB
The 10XBNB curriculum goes deep on the operational side of running a short-term rental business. A few areas Shaun covers in detail:
Proprietary pricing formulas: Shaun developed his own approach to dynamic pricing that goes beyond tools like PriceLabs or Wheelhouse. His formulas account for seasonality, local events, competitor pricing, and booking velocity to squeeze maximum revenue from each listing.
Listing optimization: Getting a listing to rank on the first page of Airbnb search results requires specific techniques. Shaun breaks down title structure, photo sequencing, description copy, and the review velocity needed to maintain top positions.
Guest experience systems: Earning and maintaining Superhost status (which Shaun holds with 1,000+ five-star reviews) requires systems. He teaches automated messaging sequences, cleaning team management, and issue resolution protocols that keep review scores high.
Financial risk management: Shaun is transparent about the risks involved in rental arbitrage, specifically the reality of covering lease payments during slow months. He teaches students how to evaluate deals, build cash reserves, and structure their portfolio to minimize downside exposure. His risk management module covers everything from insurance to legal protections.
Scaling beyond your first property: The playbook for going from one listing to five, then to ten or more. This includes hiring virtual assistants, automating operations, and building relationships with property owners who refer you to their network.
Bank financing and loan applications: With a finance degree and years in commercial banking, Shaun brings an insider perspective on what banks look for when you apply for loans to grow your rental business. He walks through how to present your short-term rental income on loan applications, what documentation lenders want to see, and how to position yourself as a lower-risk borrower even if you’re new to real estate.
Website and digital marketing: Shaun teaches students how to build their own websites as digital assets. A well-ranked website generates direct bookings, reduces platform dependency, and positions you as a professional operator in your local market. He covers basic SEO, Google ranking strategies, and how to use your online presence to attract property owners who want help managing their listings.
Iconic Retreats: Shaun Ghavami’s Company
Iconic Retreats is the company Shaun founded in Vancouver, Canada. The city is popular as a filming location for major productions, which means high-value properties and strong demand from travelers. Shaun positioned Iconic Retreats to manage premium, “A-list” real estate in this market through the co-listing model.
The company focuses on properties that command higher nightly rates. Instead of competing at the bottom of the market with budget listings, Iconic Retreats targets properties where each booking generates meaningful revenue. That strategy is reflected in the numbers: over $5 million in booking fees from a portfolio of properties worth more than $100 million in total.
Shaun also built unconventional marketing strategies for his listings. Rather than relying only on Airbnb’s internal search, he teaches how to build and rank websites that drive direct bookings, reducing dependence on any single platform. He covers how to create listing pages that rank on Google, how to generate leads outside of Airbnb, and how to build a brand around your hosting business so property owners come to you instead of the other way around.
Shaun Ghavami’s Social Media Presence
Beyond the 10XBNB program, Shaun shares content regularly across multiple platforms. You can find him on Instagram, YouTube, TikTok, LinkedIn, and X, where he posts about rental arbitrage strategies, co-listing wins, and behind-the-scenes looks at his operations.
His content style is direct. He doesn’t sugarcoat the work involved and regularly talks about the mistakes he made early on, the deals that didn’t work out, and the operational headaches that come with managing properties at scale. That authenticity is one reason his following has grown steadily across platforms.
Shaun also uses these channels to share student wins, breaking down how specific 10XBNB members landed their first property, secured their first booking, or scaled past a certain income threshold. If you’re researching Shaun Ghavami before deciding whether to join 10XBNB, his social media profiles are a good place to see how he communicates and whether his teaching style resonates with you.
Is 10XBNB Worth It?
That depends on where you are in your journey and what you’re looking for. If you want a structured system, live coaching, and a community of people doing the same thing, 10XBNB delivers. The program is not cheap, and it requires real commitment, both in time and in execution.
Here is who the program fits best:
- Side hustlers looking to build income without quitting their job. The co-listing model can run alongside a W2 career
- Career changers who want to replace their salary with something they control. Students have gone from $0 to full-time income within six to twelve months
- Real estate investors looking to add short-term rental management to their portfolio without buying more properties
- Anyone tired of the 9-to-5 grind who is willing to put in the work to build a real business
If you’re looking for a get-rich-quick scheme, this is not it. Shaun has always been clear about that. Building a short-term rental business takes effort, market research, and execution. But the opportunity is real, and the co-listing model specifically removes many of the financial barriers that stop people from getting started in real estate.
One thing worth noting: the coaching and mentorship component is what many students highlight as the most valuable part. Having direct access to someone who has managed $100 million+ in real estate through co-listing, with 1,000+ five-star reviews to prove the system works, is different from watching pre-recorded videos from someone who tried Airbnb once and made a course about it.
Ready to see if 10XBNB is right for you? Book a free call with the team and learn how the co-listing and rental arbitrage model could work in your market.
Frequently Asked Questions About Shaun Ghavami
Who is Shaun Ghavami?
Shaun Ghavami is the co-founder of 10XBNB and the founder of Iconic Retreats, a Vancouver-based company managing over $100 million in premium short-term rental properties. He holds a finance degree from UBC and transitioned from a banking career to full-time Airbnb entrepreneurship.
What is 10XBNB?
10XBNB is a training program that teaches rental arbitrage, co-listing, and co-hosting strategies. It was co-founded by Shaun Ghavami and Ari Rahmanian. The program includes live coaching, weekly town hall meetings, a private community, and done-for-you services for qualified students.
What is co-listing on Airbnb?
Co-listing means managing someone else’s property on Airbnb for a 20-30% commission on each booking. You handle the listing, guest communication, pricing, and cleaning coordination. The property owner keeps the rest. It requires no upfront capital or property ownership.
How did Shaun Ghavami get started in Airbnb?
Shaun started by listing a spare bedroom in his rented apartment for $65 per night while working full-time in commercial banking. The success of that first listing led him to explore rental arbitrage and eventually develop the co-listing model that became the foundation of Iconic Retreats.
What results have 10XBNB students achieved?
Results vary by market and effort. Published examples include a Denver side hustler earning $2,100 per month from one property, a Nashville career changer making $8,500 per month from three properties, and a Phoenix investor generating $24,500 per month from ten properties. Full student results are available on the success stories page.
Is Shaun Ghavami legit?
Shaun has a verified track record: 1,000+ five-star reviews on Airbnb, Superhost status, $5 million+ in booking fees generated through Iconic Retreats, and 3,000+ guests served since 2018. He is active on Instagram, YouTube, TikTok, LinkedIn, and X where he regularly shares content about his operations and results.
