Bill sits down with Pace Morby to debunk myths about the profitability and viability of Airbnb. Bill, known for his highly successful short-term rental strategies and large events, shares his expertise on how to transform average properties into 'super properties.' The discussion explores the importance of marketability, meticulous property searches, and maintaining high standards for quality and cleanliness. Bill emphasizes the value of hands-on management, providing personalized guest experiences, and continuous engagement in the market. He contrasts his methodical approach with the common, lazy practices that lead to subpar performance in short-term rentals. The conversation touches upon Bill's personal journey, his successful business ventures, and his strategic investments in locations set to boom, such as Whitefish, Montana. Additionally, Bill shares insights on innovative methods like using CRM software for direct bookings and nurturing guest relationships. The episode highlights the principle of 'two extra steps,' a concept Bill is writing a book on, which signifies doing what others are unwilling to do. This approach has not only set him apart in the real estate industry but also in life, emphasizing continuous growth and adaptation. The episode concludes with the announcement of Bill’s upcoming real estate event in Nashville and his new book release, promising valuable takeaways for anyone looking to excel in the short-term rental market.

https://www.marketmystr.com/

00:00 Introduction

00:04 Airbnb: Debunking the Myths

00:16 Bill Faeth's Background and Event Highlights

00:35 Montana and Personal Life

01:13 Airbnb Strategies and Success Stories

03:34 The Importance of Sales and Marketing

04:22 Two Extra Steps Philosophy

10:57 Challenges in the Airbnb Industry

13:45 Consistency and Quality in Short-Term Rentals

27:38 Personal Stories and Early Ventures

32:45 Flipping Success and Market Trends

33:58 Fast Money, Medium Money, Slow Money

34:45 Personality Types and Investment Goals

38:26 The Importance of Patience in Real Estate

38:50 Questioning the Value of College

42:21 The Power of Consistency and Persistence

43:52 Evaluating and Repositioning Properties

46:29 The Impact of Community and Networking

52:50 The Value of Super Properties

01:00:06 Upcoming Real Estate Event

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On Bill Faeth Unfiltered, Bill Faeth breaks down the ins and outs of short-term rental hosting, giving listeners actionable advice that they can use to take their businesses to the next level.

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