StayFi | Use Code BILL to Get 50% Off Your First 3 Months with StayFi!

This episode is Sponsored by MarketMySTR.com the STR Industries #1 marketing platform.

In this episode of STR Unfiltered, host Bill Faeth discusses the '5/50/250 Plan', a strategy he used to generate a million dollars in net income annually through short term rentals. Bill emphasizes the importance of quality over quantity, predicting revenue to get a higher return on investment, meaning there is no need to own multiple properties. He also shares tools he uses such as Pricelabs, RankBreeze, and MarketMySTR. Bill further talks about the necessity of location, proximity, and views in choosing a property, along with the performance of such investments. He appeals to listeners to avoid compromising on the front-end underwriting process, and to learn skills like revenue management and marketing to optimize properties and improve their standings in the short term rental market.

01:00 Introduction and Welcome

01:09 The 550 250 Plan: Building a Portfolio

02:54 The Importance of Revenue Management and Marketing

03:23 Leveraging Tools for Direct Bookings

04:42 The 550 250 Plan: Property Acquisition

08:02 The 550 250 Plan: Revenue Maximization

10:40 The 550 250 Plan: Property Repositioning

12:20 The 550 250 Plan: Scaling and Growth

15:07 Conclusion and Invitation to Inner Circle

Watch this episode on our YouTube Channel Every Tuesday & Friday

https://www.youtube.com/channel/UCnheh3vx0hT5Y7uHWhBs8kA

The Free Build STR Wealth Facebook Group: https://www.facebook.com/groups/284886002732508

You can find more of Bill online at:

Bill Faeth Linktree: https://linktr.ee/bfaeth?utm_source=linktree_profile_share&ltsid=660cbc9b-4a7e-4ed9-a654-900180b83af1

Build STR Wealth: https://buildstrwealth.com/

Instagram: @BillFaeth73

Tik Tok: @bfaeth

Learn more about your ad choices. Visit megaphone.fm/adchoices