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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
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Bill Faeth Unfiltered