Bill delves into the importance of obtaining five-star reviews for short-term rentals. He shares a comprehensive strategy for ensuring great reviews through proactive communication, exemplary hospitality, and timely follow-up. He emphasizes the critical role of initial interactions, response speed, and personalized touchpoints like charcuterie boards and discounts. Bill also highlights the nuanced differences between platforms like Airbnb and VRBO in soliciting reviews and underlines the significance of sustained guest rapport to maximize review ratings.www.buildstrwealth.com/dticalculator00:00 Introduction to STR Unfiltered00:22 The Importance of Five-Star Reviews00:30 Strategies for Getting Reviews02:46 Handling Guest Issues Effectively05:12 The Checkout Process and Review Timing08:27 Final Tips for Maximizing Reviews11:06 Conclusion and Sign-Off➡️ Connect with us:• Join Our Facebook Group: https://www.facebook.com/groups/284886002732508 • Check Out Our website: https://buildstrwealth.com/ • Bill’s Instagram: https://www.instagram.com/billfaeth73• Brea’s Instagram: https://www.instagram.com/breafaeth/ • TikTok: https://www.tiktok.com/@bfaeth On STR Unfiltered, Bill Faeth breaks down the ins and outs of short-term rental hosting, giving listeners actionable advice that they can use to take their businesses to the next level.Subscribe/Follow so you never miss an episode!#STRUnfiltered #BillFaeth #STR Learn more about your ad choices. Visit megaphone.fm/adchoices

Bill emphasizes treating short-term rentals as a business rather than a casual endeavor for it to be successful. He recounts his initial struggles with property management companies and how taking a self-managed, business-focused approach drastically improved his operations. Bill discusses the importance of self-management, mastering revenue management and off-platform marketing, and the critical role of automation in managing properties efficiently. He highlights his journey from purchasing his first property in Gulf Shores, Alabama, to owning and co-hosting 24 properties across various U.S. locations. Bill delves into the details of operational efficiency, from handling guest communications and cleaning crews to implementing standard operating procedures (SOPs) and leveraging technology for property management. The episode also covers the significance of proper investment analysis and the potential impact of technology, like AI chatbots, on saving time and improving guest experience. Bill concludes with advice on setting up short-term rental operations for success, emphasizing process documentation, technology use, and the importance of a solid setup from the start.buildstrwealth.com/550250masterclassSign Up for Our STR Host Academy: https://www.strhostacademy.com/hostacademy[FREE Download] Unlock Your Potential with Our EXPERT Proforma: https://buildstrwealth.com/proforma00:00 Welcome and Introduction to STR Unfiltered00:27 The Business Mindset for Short-Term Rentals01:06 From First Property to a Portfolio: A Personal Journey02:31 The Importance of Self-Management and Skills in STR Success03:12 Leveraging Automation and Technology in STR Management04:05 Building a Super Portfolio: Property Locations and Management Insights06:18 Operational Excellence: SOPs, Hiring, and Training06:45 Navigating Challenges and Solutions in STR Management11:17 The Future of STR Communication and Market Selection Strategy13:31 Closing Thoughts and Call to Action➡️ Connect with us:• Join Our Facebook Group: https://www.facebook.com/groups/284886002732508 • Check Out Our website: https://buildstrwealth.com/ • Bill’s Instagram: https://www.instagram.com/billfaeth73• Brea’s Instagram: https://www.instagram.com/breafaeth/ • TikTok: https://www.tiktok.com/@bfaeth On STR Unfiltered, Bill Faeth breaks down the ins and outs of short-term rental hosting, giving listeners actionable advice that they can use to take their businesses to the next level.Subscribe/Follow so you never miss an episode!#STRUnfiltered #BillFaeth #STR Learn more about your ad choices. Visit megaphone.fm/adchoices

The Property Stacking Masterclass. https://buildstrwealth.com/550250masterclassIn this episode of STR unfiltered, host Bill Faeth and guest Ryan Bakke, a CPA and real estate investor, share insights into the complexities of real estate investments, taxes, and maximizing returns. Ryan, renowned for saving Bill nearly $2 million in taxes, discusses the strategic tax benefits of investing in real estate, the impact of legislation like the cost segregation bill, and tactics to leverage tax refunds and deductions. The conversation also delves into the pitfalls and pressures of 1031 exchanges, the concept of a 'lazy 1031', and the importance of financial planning, liquidity, and carefully navigating investments to ensure financial security and optimize tax positioning. The duo underscores the importance of tailored advice, considering individual financial situations, goals, and risk tolerance in the dynamic landscape of real estate investment.00:00 Introduction to STR Unfiltered with Bill Faith00:15 Meet Ryan Bakke: The Tax Whiz Saving Millions00:38 Deep Dive into Tax Strategies and Real Estate Investing02:30 Navigating Tax Refunds, Amendments, and Financial Planning05:32 The Intricacies of 1031 Exchanges in Real Estate13:57 Strategic Portfolio Management and Financial Discipline19:09 The Impact of Market Dynamics on Real Estate Investing23:18 Closing Thoughts and Contact Information➡️ Connect with us:• Join Our Facebook Group: https://www.facebook.com/groups/284886002732508 • Check Out Our website: https://buildstrwealth.com/ • Bill’s Instagram: https://www.instagram.com/billfaeth73• Brea’s Instagram: https://www.instagram.com/breafaeth/ • TikTok: https://www.tiktok.com/@bfaeth On STR Unfiltered, Bill Faeth breaks down the ins and outs of short-term rental hosting, giving listeners actionable advice that they can use to take their businesses to the next level.Subscribe/Follow so you never miss an episode!#STRUnfiltered #BillFaeth #STR Learn more about your ad choices. Visit megaphone.fm/adchoices

The Property Stacking Masterclass. https://buildstrwealth.com/550250masterclassIn this episode of STR Unfiltered, host Bill Faeth introduces viewers to the concept of co-hosting on Airbnb as a lucrative way to engage in the short-term rental market without the need to own property. Focusing on actionable strategies, the guide covers key aspects such as revenue management, marketing, listing optimization, guest communication, and how to charge for services. Bill argues against the popular practice of rental arbitrage due to its high risk and financial requirements, advocating instead for co-hosting due to its low barrier to entry. He shares personal success stories and strategies for acquiring high-value properties to manage, emphasizing the importance of setting clear revenue and time goals.00:00 Introduction to Co-Hosting on Airbnb00:21 Unlocking the Power of Co-Hosting Without Owning Property01:02 The Essentials of Co-Hosting: Skills and Revenue Management02:22 Why Arbitrage Isn't the Best Strategy for Beginners04:09 The Lucrative Potential of Co-Hosting05:17 Building a Successful Co-Hosting Business: Strategies and Skills05:45 Customer Acquisition and Market Selection for Co-Hosting07:30 Maximizing Profits: Setting Goals and Choosing Properties12:18 The Path to Long-Term Wealth Through Co-Hosting13:11 Closing Remarks and Marketing Platform Promotion➡️ Connect with us:• Join Our Facebook Group: https://www.facebook.com/groups/284886002732508 • Check Out Our website: https://buildstrwealth.com/ • Bill’s Instagram: https://www.instagram.com/billfaeth73• Brea’s Instagram: https://www.instagram.com/breafaeth/ • TikTok: https://www.tiktok.com/@bfaeth On STR Unfiltered, Bill Faeth breaks down the ins and outs of short-term rental hosting, giving listeners actionable advice that they can use to take their businesses to the next level.Subscribe/Follow so you never miss an episode!#STRUnfiltered #BillFaeth #STR Learn more about your ad choices. Visit megaphone.fm/adchoices

Industry expert Wil Slickers and host Bill Faeth dissect Airbnb's recent icons update, predicting a shift towards a social media focus. They explore Brian Chesky's vision, potential Disney-inspired experiences, and the impact of social media on travel decisions. The conversation emphasizes the need for hosts to evolve offerings to match Airbnb's strategic moves.

⏺️ Join Our Masterclass to Unlock STR Wealth: https://buildstrwealth.com/550250masterclass It’s no secret. Amenities can make or break the success of your short-term rental. But not all amenities are equal. Some will make you money, some will do nothing worth mentioning, and some will only cost you your time and money. So, before you go and spend your hard-earned money on terrible amenities, watch this research-backed guide on the best and worst amenities for your Airbnb!This video will save you a lot of headaches and money, so make sure to check it out. Let’s jump right in!Key Takeaways:  00:00:00 Intro 00:00:45 Take a close look at your property 00:03:07 Amenities that allow you to charge more  00:07:33 Miniature golf courses, fire pits, and hot tubs 00:11:44 Let’s talk finances  00:15:14 How to make smarter amenity choices 00:15:59 Outro  Additional resources: ➡️ Ready to start building STR wealth? • Join Our Masterclass to Unlock STR Wealth: https://buildstrwealth.com/innercircle• Sign Up for Our STR Host Academy: https://www.strhostacademy.com/hostacademy• Gain Full Access to the Superhost Library: https://buildstrwealth.com/thelibrary• Reserve a Spot in Our Super Life Plan Training: https://www.billfaeth.com/lifeplantraining➡️ Learn more about starting an STR business:• Take the Airbnb Profit Maximizer Course: https://buildstrwealth.com/profitmax299• Sign Up for Our Co-hosting Business Masterclass: https://buildstrwealth.com/cohost• 3-Day Training Program for New Airbnb Hosts: https://buildstrwealth.com/3daytraining • Facebook Ads Training for Hosts: https://buildstrwealth.com/facebookads• Virtual Marketing Mastery Boot Camp: https://buildstrwealth.com/marketingmastery➡️ Grab some FREE resources:• [FREE Download] Get Your 10-POINT Direct Booking Optimization Checklist: https://buildstrwealth.com/directbooking • [FREE Download] Unlock Your Potential with Our EXPERT Proforma: https://buildstrwealth.com/proforma• [FREE Donwload] Grab Our ULTIMATE Guide for STR hosts: https://buildstrwealth.com/ultimateguide• [FREE Donwload] Discover the 7 GOLDEN RULES for Airbnb Hosts:https://buildstrwealth.com/7goldenrules• [FREE Donwload] Unlock Your Dream Life Plan: https://www.billfaeth.com/lifeplan➡️ Connect with us:• Join Our Facebook Group: https://www.facebook.com/groups/284886002732508 • Check Out Our website: https://buildstrwealth.com/ • Bill’s Instagram: https://www.instagram.com/billfaeth73• Brea’s Instagram: https://www.instagram.com/breafaeth/ • TikTok: https://www.tiktok.com/@bfaeth On STR Unfiltered, Bill Faeth breaks down the ins and outs of short-term rental hosting, giving listeners actionable advice that they can use to take their businesses to the next level.Subscribe/Follow so you never miss an episode!#STRUnfiltered #BillFaeth #STR Learn more about your ad choices. Visit megaphone.fm/adchoices

⏺️ Join Our Masterclass to Unlock STR Wealth: https://buildstrwealth.com/550250masterclass In the world of real estate investing, 1031 exchanges are a popular way to delay paying capital gains tax and maximize profits.But there’s a reason many call it the death tax… Once you opt for a 1031 exchange, the money invested can be locked away for a very long time. That’s why today, I’m sharing 3 things you need to keep in mind before you carry out a 1031!If you want to protect your money and make responsible financial decisions, this episode is for you. Tune in! Key Takeaways:  00:00:00 Intro  00:00:34 Are you ready to kiss that cash goodbye forever? 00:01:19 What is your financial stability behind that cash?  00:02:44 There are always options out there  00:04:20 Potential pitfalls of mismanaged 1031 strategies  00:05:40 My final piece of advice Additional resources: ➡️ Ready to start building STR wealth? • Join Our Masterclass to Unlock STR Wealth: https://buildstrwealth.com/innercircle• Sign Up for Our STR Host Academy: https://www.strhostacademy.com/hostacademy• Gain Full Access to the Superhost Library: https://buildstrwealth.com/thelibrary• Reserve a Spot in Our Super Life Plan Training: https://www.billfaeth.com/lifeplantraining➡️ Learn more about starting an STR business:• Take the Airbnb Profit Maximizer Course: https://buildstrwealth.com/profitmax299• Sign Up for Our Co-hosting Business Masterclass: https://buildstrwealth.com/cohost• 3-Day Training Program for New Airbnb Hosts: https://buildstrwealth.com/3daytraining • Facebook Ads Training for Hosts: https://buildstrwealth.com/facebookads• Virtual Marketing Mastery Boot Camp: https://buildstrwealth.com/marketingmastery➡️ Grab some FREE resources:• [FREE Download] Get Your 10-POINT Direct Booking Optimization Checklist: https://buildstrwealth.com/directbooking • [FREE Download] Unlock Your Potential with Our EXPERT Proforma: https://buildstrwealth.com/proforma• [FREE Donwload] Grab Our ULTIMATE Guide for STR hosts: https://buildstrwealth.com/ultimateguide• [FREE Donwload] Discover the 7 GOLDEN RULES for Airbnb Hosts:https://buildstrwealth.com/7goldenrules• [FREE Donwload] Unlock Your Dream Life Plan: https://www.billfaeth.com/lifeplan➡️ Connect with us:• Join Our Facebook Group: https://www.facebook.com/groups/284886002732508 • Check Out Our website: https://buildstrwealth.com/ • Bill’s Instagram: https://www.instagram.com/billfaeth73• Brea’s Instagram: https://www.instagram.com/breafaeth/ • TikTok: https://www.tiktok.com/@bfaeth On STR Unfiltered, Bill Faeth breaks down the ins and outs of short-term rental hosting, giving listeners actionable advice that they can use to take their businesses to the next level.Subscribe/Follow so you never miss an episode!#STRUnfiltered #BillFaeth #STR Learn more about your ad choices. Visit megaphone.fm/adchoices

⏺️ Join Our Masterclass to Unlock STR Wealth: https://buildstrwealth.com/550250masterclassIf you know me, you know that I am addicted to creating businesses. But I wasn’t always as business-savvy as I am today. In fact, I struggled a lot with my approach to business and my mentality as a whole... That is until I stumbled upon Profit First, a remarkable book that offers a roadmap for entrepreneurs to make the money they’ve always dreamed of. This book single-handedly fixed my attitude towards money and changed the trajectory of my life. Needless to say, I'm beyond thrilled to interview Mike Michalowicz, the brilliant mind behind this game-changing book, on the show today. Mike's insights have enabled countless individuals, including myself, to reach their full potential in the business world.With this interview, we aim to enable you to do the same. Mike and I talk about the most common business struggles aspiring entrepreneurs face and his new book, All In. Tune in! Key Takeaways: 00:00:00 Intro  00:01:55 Every human has so much to offer 00:03:39 The 5 common areas of struggle in businesses 00:05:53 How to actually scale a business 00:09:25 Caring for your employees 00:16:12 Mike’s new book: All In  00:17:59 Outro Additional resources:➡️ Get in touch with Mike Michalowicz: • Website: https://mikemichalowicz.com/➡️ Ready to start building STR wealth?• Join Our Masterclass to Unlock STR Wealth: https://buildstrwealth.com/innercircle• Sign Up for Our STR Host Academy: https://www.strhostacademy.com/hostacademy• Gain Full Access to the Superhost Library: https://buildstrwealth.com/thelibrary• Reserve a Spot in Our Super Life Plan Training: https://www.billfaeth.com/lifeplantraining➡️ Learn more about starting an STR business:• Take the Airbnb Profit Maximizer Course: https://buildstrwealth.com/profitmax299• Sign Up for Our Co-hosting Business Masterclass: https://buildstrwealth.com/cohost• 3-Day Training Program for New Airbnb Hosts: https://buildstrwealth.com/3daytraining• Facebook Ads Training for Hosts: https://buildstrwealth.com/facebookads• Virtual Marketing Mastery Boot Camp: https://buildstrwealth.com/marketingmastery➡️ Grab some FREE resources:• [FREE Download] Get Your 10-POINT Direct Booking Optimization Checklist: https://buildstrwealth.com/directbooking• [FREE Download] Unlock Your Potential with Our EXPERT Proforma: https://buildstrwealth.com/proforma• [FREE Donwload] Grab Our ULTIMATE Guide for STR hosts: https://buildstrwealth.com/ultimateguide• [FREE Donwload] Discover the 7 GOLDEN RULES for Airbnb Hosts:https://buildstrwealth.com/7goldenrules• [FREE Donwload] Unlock Your Dream Life Plan: https://www.billfaeth.com/lifeplan➡️ Connect with us:• Join Our Facebook Group: https://www.facebook.com/groups/284886002732508• Check Out Our website: https://buildstrwealth.com/• Bill’s Instagram: https://www.instagram.com/billfaeth73• Brea’s Instagram: https://www.instagram.com/breafaeth/• TikTok: https://www.tiktok.com/@bfaethOn STR Unfiltered, Bill Faeth breaks down the ins and outs of short-term rental hosting, giving listeners actionable advice that they can use to take their businesses to the next level.Subscribe so you never miss an episode!#STRUnfiltered #BillFaeth #STR Learn more about your ad choices. Visit megaphone.fm/adchoices

My wife Brea and I love the life we've built together. But it hasn't always been easy. In fact, at times, it has been very, very hard. The last few months have been the most stressful period of our lives. We've had to manage our properties from afar, deal with renovations, run a business, and manage family life. But being the power couple we are, we did it and came out stronger than ever. That’s why today, we want to discuss the struggles of building a short-term rental business as a married couple. We’ll share the tips and strategies that have helped us prosper not only as a business but also as a family, from renovation strategies and hiring practices to listening to our children and meeting their needs. We’ll cover everything! If you’re about to start an STR business with your life partner, this is for you. Tune in!Key Takeaways:  00:00:00 Intro 00:00:34 Managing major renovations as a couple 00:04:15 Dealing with our family life in between 00:05:27 Renovation strategies and managing remote work 00:09:20 Prioritizing family over work 00:12:37 Aligning our roles as a couple 00:16:15 Our first couples retreat after 2022 00:19:14 Outro ⏺️ Join Our Masterclass to Unlock STR Wealth: https://buildstrwealth.com/innercircleAdditional resources: ➡️ Ready to start building STR wealth? • Join Our Masterclass to Unlock STR Wealth: https://buildstrwealth.com/innercircle• Sign Up for Our STR Host Academy: https://www.strhostacademy.com/hostacademy• Gain Full Access to the Superhost Library: https://buildstrwealth.com/thelibrary• Reserve a Spot in Our Super Life Plan Training: https://www.billfaeth.com/lifeplantraining➡️ Learn more about starting an STR business:• Take the Airbnb Profit Maximizer Course: https://buildstrwealth.com/profitmax299• Sign Up for Our Co-hosting Business Masterclass: https://buildstrwealth.com/cohost• 3-Day Training Program for New Airbnb Hosts: https://buildstrwealth.com/3daytraining • Facebook Ads Training for Hosts: https://buildstrwealth.com/facebookads• Virtual Marketing Mastery Boot Camp: https://buildstrwealth.com/marketingmastery➡️ Grab some FREE resources:• [FREE Download] Get Your 10-POINT Direct Booking Optimization Checklist: https://buildstrwealth.com/directbooking • [FREE Download] Unlock Your Potential with Our EXPERT Proforma: https://buildstrwealth.com/proforma• [FREE Donwload] Grab Our ULTIMATE Guide for STR hosts: https://buildstrwealth.com/ultimateguide• [FREE Donwload] Discover the 7 GOLDEN RULES for Airbnb Hosts:https://buildstrwealth.com/7goldenrules• [FREE Donwload] Unlock Your Dream Life Plan: https://www.billfaeth.com/lifeplan➡️ Connect with us:• Join Our Facebook Group: https://www.facebook.com/groups/284886002732508 • Check Out Our website: https://buildstrwealth.com/ • Bill’s Instagram: https://www.instagram.com/billfaeth73• Brea’s Instagram: https://www.instagram.com/breafaeth/ • TikTok: https://www.tiktok.com/@bfaeth On STR Unfiltered, Bill Faeth breaks down the ins and outs of short-term rental hosting, giving listeners actionable advice that they can use to take their businesses to the next level.Follow so you never miss an episode! Learn more about your ad choices. Visit megaphone.fm/adchoices

The average retirement age in the US is 64. I managed to speed up this process by 16 years and achieve financial freedom at 48. How? By being smart with my short-term rental investments. I set actionable financial goals for myself and learned everything there is to know about tax benefits, loan structuring, cash flow optimization, appreciating markets, and retirement planning. This has enabled my wife and me to live the life we want, with work becoming a choice, not a necessity.Today, I will share exactly how I did it so you can replicate my success and retire early in your 40s. Are you ready? Let’s dive right in! Key Takeaways:  00:00:00 Intro  00:00:35 Understanding all of the tax benefits  00:04:07 Prioritizing cash flow and setting financial goals 00:06:11 How to structure your loans  00:10:25 Quick summary and outro ⏺️ Join Our Masterclass to Unlock STR Wealth: https://buildstrwealth.com/innercircleAdditional resources: ➡️ Ready to start building STR wealth? • Join Our Masterclass to Unlock STR Wealth: https://buildstrwealth.com/innercircle• Sign Up for Our STR Host Academy: https://www.strhostacademy.com/hostacademy• Gain Full Access to the Superhost Library: https://buildstrwealth.com/thelibrary• Reserve a Spot in Our Super Life Plan Training: https://www.billfaeth.com/lifeplantraining➡️ Learn more about starting an STR business:• Take the Airbnb Profit Maximizer Course: https://buildstrwealth.com/profitmax299• Sign Up for Our Co-hosting Business Masterclass: https://buildstrwealth.com/cohost• 3-Day Training Program for New Airbnb Hosts: https://buildstrwealth.com/3daytraining • Facebook Ads Training for Hosts: https://buildstrwealth.com/facebookads• Virtual Marketing Mastery Boot Camp: https://buildstrwealth.com/marketingmastery➡️ Grab some FREE resources:• [FREE Download] Get Your 10-POINT Direct Booking Optimization Checklist: https://buildstrwealth.com/directbooking • [FREE Download] Unlock Your Potential with Our EXPERT Proforma: https://buildstrwealth.com/proforma• [FREE Donwload] Grab Our ULTIMATE Guide for STR hosts: https://buildstrwealth.com/ultimateguide• [FREE Donwload] Discover the 7 GOLDEN RULES for Airbnb Hosts:https://buildstrwealth.com/7goldenrules• [FREE Donwload] Unlock Your Dream Life Plan: https://www.billfaeth.com/lifeplan➡️ Connect with us:• Join Our Facebook Group: https://www.facebook.com/groups/284886002732508 • Check Out Our website: https://buildstrwealth.com/ • Bill’s Instagram: https://www.instagram.com/billfaeth73• Brea’s Instagram: https://www.instagram.com/breafaeth/ • TikTok: https://www.tiktok.com/@bfaeth On STR Unfiltered, Bill Faeth breaks down the ins and outs of short-term rental hosting, giving listeners actionable advice that they can use to take their businesses to the next level.Follow so you never miss an episode! Learn more about your ad choices. Visit megaphone.fm/adchoices