Bill Faeth Unfiltered

The podcast discusses the risks of using 1031 exchanges and cost segregation studies, emphasizing the importance of long-term thinking and available cash. It warns against reckless behavior that can attract an IRS audit and shares a costly lesson involving a prepayment penalty. The chapter also touches on managing encumbrances and mitigating risks associated with properties.

The podcast discusses essential marketing strategies for short-term rentals, including listing optimization, email marketing, text message marketing, and social media marketing. The host emphasizes the importance of personalization in all marketing efforts and guest communication. Tools like Rank Breeze and MarketMySTR.com are recommended for updates and content batching. The significance of pricing, rankings, and tracking changes is also explored.

This episode is Sponsored by MarketMySTR.com the STR Industries #1 marketing platform.In the latest STRUnfiltered episode, Bill challenges the idea that Airbnb investments are losing steam, arguing that they're still relevant. He points out a common mistake: investing in lackluster locations, wrong markets, and ill-timed ventures.Bill shares his proactive approach to finding untapped investment opportunities, like his exploration of Whitefish, Montana—an overlooked gem. He explains his strategy for gaining trust with bankers, emphasizing the importance of providing well-prepared information. Throughout his talk, Bill stresses the importance of focusing on quality when choosing properties and crafting marketing plans.Bill also highlights the value of building relationships with experienced investors and learning from them, pointing out the helpfulness of resources like the Fall Accelerator for newcomers. Wrapping up, he advises a careful assessment of underperforming properties to decide whether to improve or let go, expressing his preference for outstanding investments over ordinary ones.[00:00] Intro[00:42] Market Right Now[02:16] Finding New Markets[03:11] Getting Approved[07:22] Compromising[08:05] Learning From Professionals[09:04] Mastermind Retreat[10:00] Average Property[12:26] Host Academy[13:00] In ClosingSTR Host Training gives you the tools you need to create new opportunities with sales and marketing with prebuilt campaigns, monthly coaching, webinars, and more. Making it easy for you to focus on doing what you do best while you turbocharge sales. Click here for more information > https://www.strhostacademy.com/hostacademyJoin the waitlist for the Fall Accelerator, a virtual 8-week intensive program led by expert STR investors, tax & legal professionals, and real estate marketers… (A.K.A. “The Super Team”). Click here to learn more > https://strsuperteam.com/Watch this episode on our Youtube Channel Every Tuesday & Fridayhttps://www.youtube.com/channel/UCnheh3vx0hT5Y7uHWhBs8kAThe Free Build STR Wealth Facebook Group: https://www.facebook.com/groups/284886002732508You can find more of Bill online at:Bill Faeth Linktree: https://linktr.ee/bfaeth?utm_source=linktree_profile_share&ltsid=660cbc9b-4a7e-4ed9-a654-900180b83af1Build STR Wealth: https://buildstrwealth.com/Instagram: @BillFaeth73Tik Tok: @bfaeth Learn more about your ad choices. Visit megaphone.fm/adchoices

This episode is Sponsored by MarketMySTR.com the STR Industries #1 marketing platform.In this installment of STRUnfiltered, Bill delves into the crucial aspects of safeguarding your future self by ensuring the comprehensive insurance coverage of your properties.Having encountered numerous individuals who put immense effort into establishing and maintaining their properties as supplementary income sources alongside their W-2s, Bill notes a concerning trend: many of these property owners lack sufficient insurance coverage for unforeseen natural disasters.Bill recounts his own predicament involving his cabin in Whitefish, Montana, which faced the imminent threat of a forest fire drawing closer. Reflecting on this situation, he emphasizes his immediate action of reviewing his insurance policy. This proactive step led him to confirm the presence of robust fire protection measures that would shield him in case of any possibilities.Expanding on the subject, Bill advocates for proactive discussions with your insurance agent to grasp the intricate details of your policy's exclusions and addendums. He underscores the significance of cultivating an in-depth understanding of policy stipulations, particularly the intricacies of estimating reconstruction costs for short-term rentals. A pivotal aspect of this process involves meticulous calculation of potential loss, encompassing both property structure and the income stream from rentals, in the event of a fire, hurricane, or other natural disaster.Bill acknowledges that while dwelling on worst-case scenarios might not be the most optimistic approach to this industry, it is an essential part of positioning oneself for long-term success. Mastery in ensuring personal safety, managing liability, and fortifying property security emerges as paramount in this discussion.[00:00] Intro[00:30] Under-Insured[01:25] Whitefish, MT[01:50] Insurence[03:20] Exclusions & Addendums[03:50] Cost To Rebuild[04:53] Liability Coverage[05:45] Being Prepared[06:41] In ClosingWatch this episode on our Youtube Channel Every Tuesday & Fridayhttps://www.youtube.com/channel/UCnheh3vx0hT5Y7uHWhBs8kAThe Free Build STR Wealth Facebook Group: https://www.facebook.com/groups/284886002732508You can find more of Bill online at:Bill Faeth Linktree: https://linktr.ee/bfaeth?utm_source=linktree_profile_share&ltsid=660cbc9b-4a7e-4ed9-a654-900180b83af1Build STR Wealth: https://buildstrwealth.com/Instagram: @BillFaeth73Tik Tok: @bfaeth Learn more about your ad choices. Visit megaphone.fm/adchoices

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.

This episode is Sponsored by MarketMySTR.com the STR Industries #1 marketing platform.In the most recent episode of STRUnfiltered, Bill opens up by discussing Mike Michalowicz's impactful book, "The Pumpkin Plan," which has significantly influenced his approach to property investment. He vividly illustrates the concept of cultivating success by trimming the smaller pumpkins, allowing the larger ones to flourish.Bill delves into his perspective on the pivotal role of time and money in driving individuals toward real estate ventures. His ultimate objective revolves around achieving his financial milestones with a minimal number of properties. Rather than fixating on amassing an extensive portfolio with countless units, he emphasizes the wisdom of focusing on a select few exceptionally prosperous properties. These properties, characterized by strong cash-on-cash returns, appreciation potential, and advantageous tax benefits, form the cornerstone of his strategy.Expanding on this viewpoint, Bill advocates against the shortsighted approach of investing solely for the sake of cost segregation or 1031 exchanges. Instead, he highlights the long-term advantages of incorporating a holistic perspective into investment decisions. By aligning investments with future financial security and retirement plans, one can channel more energy into cultivating a thriving enterprise centered around a handful of properties that yield substantial revenue.In the latter part of the episode, Bill shares insights from his recent condo deal, underscoring how cost segregation has emerged as a favorable factor in this endeavor. His decision-making process is driven by a comprehensive evaluation of multiple elements, prominently including the property's proximity to a flourishing national park—a key factor contributing to sustained cash flow. Bill's approach underscores the importance of considering these multifaceted aspects before committing to a new investment.[00:00] Intro[01:10] The Pumpkin Plan[01:40] My Portfolio[02:00] Rank Breeze[04:10] Future Planning[05:20] Cash on Cash[05:45] Appreciation[06:00] Tax Benefits[08:58] Condo[10:00] National Park[10:55] ClosingWatch this episode on our Youtube Channel Every Tuesday & Fridayhttps://www.youtube.com/channel/UCnheh3vx0hT5Y7uHWhBs8kAThe Free Build STR Wealth Facebook Group: https://www.facebook.com/groups/284886002732508You can find more of Bill online at:Bill Faeth Linktree: https://linktr.ee/bfaeth?utm_source=linktree_profile_share&ltsid=660cbc9b-4a7e-4ed9-a654-900180b83af1Build STR Wealth: https://buildstrwealth.com/Instagram: @BillFaeth73Tik Tok: @bfaeth Learn more about your ad choices. Visit megaphone.fm/adchoices

This episode is Sponsored by MarketMySTR.com the STR Industries #1 marketing platform.In the latest episode of STRUnfiltered, Bill delves into the strategies he employs to optimize his super properties, ensuring seamless operations across his multiple holdings. He highlights several indispensable tools that contribute to this success.Bill opens the discussion by introducing OwnerRez, an instrumental platform for channel management. He couples this with Hospitable, a tool that facilitates automated guest messaging, thereby enabling swift and efficient communication. Notably, Bill emphasizes that prompt responses through Hospitable positively impact guest rankings. Another crucial asset in his arsenal is Rank Breeze, which significantly aids in refining listing optimization.Perhaps the linchpin of Bill's business is his cell phone. This device provides him with the versatility to oversee all his listings remotely, a cornerstone of his operational efficiency. Further, he delves into his in-home technology arsenal, spotlighting Schlegan locks that enhance front-door security. The deployment of Ring cameras bolsters safety across his properties. Bill's endorsement of specific thermostat models underscores his attention to detail. He also underscores the convenience of the Pentair Pool App, which effectively manages his pools' temperature regulation.Bill then shares his reliance on STRInsights for identifying prime Super Property investment opportunities, given its comprehensive view of nationwide investments and ROI analysis. To optimize pricing, he employs Pricelabs for dynamic rate adjustments. Airdna aids him in understanding market trends based on occupancy rates.The final stretch of tools includes MarketMySTR, a comprehensive marketing suite that integrates email marketing, text message campaigns, and live chat support, redefining Bill's approach to promotional efforts. With STRVAS, Bill taps into a network of adept Virtual Assistants, alleviating routine tasks while adding value. Lastly, Google Trends serves as a strategic resource, enabling Bill to target guest origins and potential destinations effectively.Through a combination of strategic tools and innovative approaches, Bill has honed his property management into a finely tuned operation, maximizing guest satisfaction and business success.[00:00] Intro[00:58] PMS: OwnerRez[01:37] Hospitable[02:00] Rank Breeze[04:05] Everything From My Phone[04:30] Schlage Locks[05:00] Ring Cameras[05:50] Thermostats[06:35] Pentair Pool App[07:00] Pool Heaters[08:30] STR Insights[10:00] Pricelabs[10:27] MarketMySTR[11:25] STRVAS[13:00] Google Trends[13:43] RecapOwnerRez https://www.ownerreservations.com?referredBy=oru5b14b4ce13xHospitable https://hospitable.com/?grsf=gojytlRank Breeze https://rankbreeze.com/?affiliate=bstrwSchlage  https://www.schlage.com/en/home/products/products-smart-locks.htmlRing https://ring.comEcobee thermostat https://www.ecobee.comPentair app https://www.pentair.com/en-us/pentairhome.htmlSTR Insights https://www.strinsights.com/Pricelabs https://pricelabs.co/users/sign_up?referral=pFGkTdMarketMySTR https://marketmystr.com/STRVAs https://www.strvas.com/Google Trends https://trends.google.com/trends/Watch this episode on our Youtube Channel Every Tuesday & Fridayhttps://www.youtube.com/channel/UCnheh3vx0hT5Y7uHWhBs8kAThe Free Build STR Wealth Facebook Group: https://www.facebook.com/groups/284886002732508You can find more of Bill online at:Bill Faeth Linktree: https://linktr.ee/bfaeth?utm_source=linktree_profile_share&ltsid=660cbc9b-4a7e-4ed9-a654-900180b83af1Build STR Wealth: https://buildstrwealth.com/Instagram: @BillFaeth73Tik Tok: @bfaeth Learn more about your ad choices. Visit megaphone.fm/adchoices

This episode explores advanced marketing techniques for short-term rentals in the fall/winter seasons. Topics include engaging with guests, creating valuable email content, cultivating exclusivity and urgency, leveraging lookalike lists in Facebook ads, and driving traffic to listing sites for increased bookings.

This episode is Sponsored by MarketMySTR.com the STR Industries #1 marketing platform.In this episode of STRUnfiltered, Bill dives deep into demystifying the hashtag #Airbnbust. He lays out the essential connection between sprucing up your property's marketing and amenities and navigating through the winter season without a hitch.Bill shares his practical approach to property evaluation and opens up about his strategy of letting go of well-performing properties to seize new investment opportunities. He emphasizes the need for a genuine market interest, underscoring that lukewarm excitement just won't cut it when making investment decisions.He raises a thought-provoking question about your financial preparedness to take the investment plunge. He's brutally honest about properties that end up being money-draining sinkholes, emphasizing that it's like having a hobby that sucks your bank account dry. Bill also lets you in on the savvy moves he made in Whitefish that paved the way for acquiring another property.Bill is all about enhancing the guest experience. He shares practical tips, including the use of platforms like MarketMySTR—an all-in-one CRM that streamlines property marketing. And don't miss his enthusiasm for the upcoming STR Wealth Conference—an event brimming with valuable insights, especially for those hungry for knowledge.Tune in to this episode for a treasure trove of ideas on how to steer your property toward success even in a market that's in the midst of a correction![00:00] Tale of the STR Investor[01:40] #Airbnbust[03:05] Super Property[04:42] Audit Your Property[07:04] Interest in Market[08:00] Are You Financially Ready?[12:00] Market Correcting Itself[13:05] MarketMySTR[14:45] Seeing You Succeed[15:50] STR Wealth Conference[16:58] Wrapping UpWatch this episode on our Youtube Channel Every Tuesday & Fridayhttps://www.youtube.com/channel/UCnheh3vx0hT5Y7uHWhBs8kAThe Free Build STR Wealth Facebook Group: https://www.facebook.com/groups/284886002732508You can find more of Bill online at:Bill Faeth Linktree: https://linktr.ee/bfaeth?utm_source=linktree_profile_share&ltsid=660cbc9b-4a7e-4ed9-a654-900180b83af1Build STR Wealth: https://buildstrwealth.com/Instagram: @BillFaeth73Tik Tok: @bfaeth Learn more about your ad choices. Visit megaphone.fm/adchoices

This episode is Sponsored by MarketMySTR.com the STR Industries #1 marketing platform.In the latest episode of STRUnfiltered, Bill shares invaluable insights on choosing the perfect Interior Designer for your project. Building a strong relationship with your designer is key, and asking the right questions during the vetting process is crucial.Discovering the right fit involves the fundamental truth: Do you trust this person? Will they bring your vision to life, delivering a product that excites you? Remember, a well-designed space can transform your property from ordinary to extraordinary, and though it may come at a cost, it's worth every penny.Before diving into any partnership, define what you desire from this relationship. Each collaboration is unique, and clear expectations pave the way for success.While most designers have good intentions, it's essential to be cautious. Some big-time designers might exploit legalities, potentially leading to troublesome situations. Protect yourself and your property by laying out terms and conditions explicitly, avoiding unnecessary complexities that could cause trouble down the line.Join us in this eye-opening episode as we unravel the secrets of finding the ideal Interior Designer. Remember, a well-chosen designer can turn your property into a masterpiece, elevating its value and leaving a lasting impression on every guest.[00:00] Introduction[00:45] Minoan[01:30] Details Details Details[03:10] Back to Minoan[08:08] Questions to Ask[08:52] Do You Trust Them?[10:15] Wrapping UpWatch this episode on our Youtube Channel Every Tuesday & Fridayhttps://www.youtube.com/channel/UCnheh3vx0hT5Y7uHWhBs8kAThe Free Build STR Wealth Facebook Group: https://www.facebook.com/groups/284886002732508You can find more of Bill online at:Bill Faeth Linktree: https://linktr.ee/bfaeth?utm_source=linktree_profile_share&ltsid=660cbc9b-4a7e-4ed9-a654-900180b83af1Build STR Wealth: https://buildstrwealth.com/Instagram: @BillFaeth73Tik Tok: @bfaeth Learn more about your ad choices. Visit megaphone.fm/adchoices