Ep 91 - How to Double Your Airbnb Revenue and Stand Out From the Competition with Bill Faeth

GUEST'S BIO

Bill Faeth has been involved in real estate for almost 25 years with both commercial and residential investing. He currently has a multi-million dollar portfolio of short-term rental properties primarily located in vacation rental markets with a focus on beach, lake, and mountain properties. He has leveraged years of successful business growth strategies to specialize in maximizing vacation rental profits by turning $50,000 annual revenue properties into $90,000 properties yielding high profit via self-management.

HIGHLIGHTS OF THE EPISODE

03:58 Bill Faeth's introduction and background

05:02 Watch Bill's previous episode on Spotify or Apple Podcast

05:11 How Bill got into the STR industry

07:15 Figuring out your true goal

11:23 Emerging markets

13:37 What to look for in an emerging market

18:52 How to increase your cash on cash return

22:44 What does Bill's process look like

27:28 Making a list

28:21 Defining the system for your STRs

31:55 The importance of building trust and goodwill with guests

32:45 Bill shares a story about this number one property from his portfolio

34:25 Creating value by asking the guest how we can help them

35:21 Differentiating yourself in a competitive market

37:58 The plus one

41:38 How to create another avenue to market

45:59 How to increase your ADR

47:14 Bill reads a review from one of his STRs

51:59 How interior design and furnishings increase ADR

58:49 Join us for the biggest event for hosts and investors on June 6 to June 8 for the STR Wealth Conference - www.strwealthconference.com

01:12:14 Acknowledgments to Bill

NOTABLE QUOTES

"The property becomes an experience." - Emanuele Pani

"Asking how we can help is how we can create value." - Bill Faeth

"It's not about the property, it's what we put into it." - Bill Faeth

"Those small things are what's going to make a huge difference." - Bill Faeth

CONNECT WITH THE GUEST

Bill Faeth: Website | Instagram | Linkedin

CONNECT WITH THE HOSTS

Michael Sjogren: Short Term Rental Secrets Facebook Group | Clubhouse | Instagram | Youtube | Facebook Page | Linkedin

https://linktr.ee/the_airbnbguy

Emanuele Pani: Clubhouse | Instagram | Facebook | Linkedin

FREE MASTERCLASS TRAINING - https://www.strsecrets.com/masterclass

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