Bill Faeth Unfiltered

Pumpkin Planning Your STR Portfolio into a SUPER PORTFOLIO

Aug 25, 2023

In this podcast, the host explores the concept of 'Pumpkin Planning' by sharing their experience of evaluating and redirecting equity towards a property with untapped growth potential. They emphasize the importance of strategically planting your metaphorical seed in an emerging market. The podcast also discusses the benefits of investing in secondary markets and provides strategies for maximizing cash flow in these untapped areas.

08:14

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Quick takeaways

Focus on building extraordinary properties by evaluating profitability and reinvesting capital for higher cash flow.

Invest in secondary or tertiary markets with growth potential to build super properties and maximize cash flow.

Deep dives

The Pumpkin Plan: Scaling and Running Your Short-Term Rental Portfolio

The podcast episode discusses the concept of the Pumpkin Plan by Mike McCullough, which is about scaling, growing, and running a short-term rental or real estate portfolio effectively. The main idea is to focus on building extraordinary properties rather than settling for average ones. The speaker emphasizes the importance of conducting an audit of each property in the portfolio to evaluate its profitability and potential for cash flow. If a property is not as profitable as others or the estimated cash flow can be increased by tapping into its equity, the recommendation is to trim the portfolio and reinvest the capital to generate higher cash flow. The podcast highlights the significance of investing in quality seeds (properties) that match the market demand and have the potential to become "super properties," resulting in a super portfolio and ultimately a super life.

Introduction

2min

Maximizing Profit and Building a Super Portfolio

4min

Investing in Secondary Markets and Building Super Pumpkins

2min

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

In this episode of STRUnfiltered, join Bill as he delves deep into the insights from Mike Michalowicz's transformative book, "The Pumpkin Plan," uncovering the essence of cultivating a ‘Super Pumpkin’.

Bill vividly illustrates how, while achieving a degree of success with his Beach Mountain property, it fell short in comparison to the remarkable cash flow and growth observed in his other exceptional properties. Conducting a meticulous evaluation of the situation, he recognized that redirecting his equity towards a property with untapped growth potential was the key.

Drawing from the metaphor of nurturing a Super Pumpkin, Bill draws parallels to the world of pumpkin farming, where some farmers opt for inexpensive seeds scattered haphazardly. Although an abundance of pumpkin sprouts, these seeds lack quality and the necessary room to reach their full potential.

Translating this metaphor, Bill emphasizes the power of strategically planting your metaphorical seed in an emerging market, allowing it the expansive environment it needs to thrive. Whether through investing in a promising property or channeling resources into an up-and-coming locale, this approach ignites the potential to not only recoup your investment but to flourish.

Bill's message resounds: By affording your STR (Short-Term Rental) the space to evolve organically, you pave the path for its ascension into the ranks of a Super Property. In the quest for excellence, the average isn't the goal – it's about striving for greatness. Tune in to gain profound insights on transforming your property into a true standout.

[00:00] Intro

[00:23] The Pumpkin Plan

[00:57] Beach Mountain Property

[01:21] Audit & Equity

[02:25] Pumpkin Farmers

[04:26] Never Strive For Average

[05:20] Super Pumpkin

[06:10] Finding Space

[07:13] In Closing

Watch this episode on our Youtube Channel Every Tuesday & Friday

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

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