Bill Faeth Unfiltered

This episode is Sponsored by MarketMySTR.com the STR Industries #1 marketing platform.In this episode of "STR Unfiltered," host Bill Faith delves into the essential skills required for successful co-hosting in the short-term rental industry. Bill outlines three crucial skills that every exceptional co-host needs:Underwriting Properties: Co-hosts must excel at assessing the potential of a property. Bill emphasizes the importance of identifying underperforming properties and knowing how to elevate their revenue potential. He suggests offering your services for free initially to build trust and prove your abilities.Marketing Expertise: Co-hosts need to be proficient in marketing. This includes mastering listing optimization, using platforms like Airbnb effectively, and understanding the value of Facebook ads, email marketing, and organic social media. Bill also mentions the significance of conversion rate optimization on sales pages.Effective Pricing Strategy: Bill underscores the role of pricing strategy in increasing a property's revenue. He advises against "set it and forget it" approaches and recommends actively monitoring and adjusting prices based on factors like lead time, pacing, and RevPAR.Bill concludes that excelling in these three areas will set co-hosts on the path to success and making homeowners more money while saving them time.Listeners are also encouraged to explore "MarketMySTR" for additional resources and support in mastering these skills.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

The podcast discusses the importance of virtual assistants in scaling short-term rental businesses, maximizing property potential, finding the right VAs, testing and interviewing VAs, using standard operating procedures, and building relationships with VAs.

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

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

Discover the secrets of the top 1% of Airbnb earners during the off-season. Learn how to maximize bookings and revenue with minimum night requirements and the 3-2-1 method. Find out how offering bonus time at a discounted rate can increase bookings by 40%. Learn strategies to attract more guests and boost revenue during the off-season.

This episode is Sponsored by MarketMySTR.com the STR Industries #1 marketing platform.In this engaging episode of STRUnfiltered, Bill delves into the critical reasons why your investments might be faltering at this very moment. He begins by shedding light on the common pitfalls investors encounter, such as acquiring underperforming properties with insufficient due diligence. Many individuals, he notes, have been chasing real estate markets without a comprehensive understanding of their chosen properties.Bill takes a deep dive into the concept of EBITA (Earnings Before Interest, Taxes, and Depreciation), emphasizing that net cash flow reigns supreme when building wealth through investments.Further, he emphasizes the importance of not banking on historical rental income or future projections. Relying on uncertain future events, such as interest rate fluctuations, can be risky. Instead, Bill advocates for a strategy where investments are profitable from day one, irrespective of future outcomes.Bill's unique approach sets him apart from the crowd. He shares his secret recipe for success: investing when conditions are challenging and doing the hard work that others shy away from. By embracing this idea, you can position yourself to outperform the competition.In addition, Bill addresses a common misstep many investors make: hiring virtual assistants (VAs) to handle every aspect of their business. He cautions against this "set-it-and-forget-it" mentality, stressing that the real estate game requires hands-on involvement. To stand out in the industry, you must personally engage in underwriting and research. Bill makes a compelling case that VAs cannot replicate the creation of "Super Properties," and by arming yourself with the necessary knowledge, you can achieve extraordinary results.[00:00] Intro[00:20] Why Your Investments Are Hurting[01:19] EBITA (Earnings Before Interest, Taxes, and Depreciation)[01:55] Chasing[02:30] The Future[03:51] Election Year[04:40] Two Extra Steps[07:13] VA’s Doing Everything[09:55] 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

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