StayFi | Use Code BILL to Get 50% Off Your First 3 Months with StayFi!This episode is Sponsored by MarketMySTR.com the STR Industries #1 marketing platform.A consultant for a school board with three children, a wife, and a short-term rental host.Highlighting that Liz is an everyday individual, not a wealthy real estate tycoon.Transition into Real EstateLiz's transition from teaching to consulting and what led her to explore real estate investment.The influence of a friend who started investing in real estate and encouraged Liz and her husband to do the same.Liz's journey from buying her first duplex to owning multiple properties in Quebec.Taking Control of Short-Term Rental ManagementLiz discusses her initial reliance on co-hosts for short-term rental management.Explains the frustration with high fees for guest communication and realizing that she was essentially handling guest questions herself.Talks about how research, education, and resources like the STR Unfiltered Facebook group gave her the confidence to take control of management.Transition timeline: Started self-management in October, only a month and a half ago.Improving Property ListingsLiz mentions using software like Rankbreeze for testing listing changes.Shares the importance of professional photography and her experience with finding the right photographer.Bill highlights the significance of 3D renderings for multi-story properties.Investing in Costa RicaLiz's decision to invest in Costa Rica despite never having visited, driven by long-term retirement plans.The appeal of the area's growth and development, including a Waldorf Astoria project.The potential for the property to serve as both an investment and a future retirement asset.Advice for Aspiring Short-Term Rental HostsEducate yourself and seek information from trusted sources.Persevere and don't give up, even when facing challenges.Keep trying different strategies and adjusting as needed. Learn more about your ad choices. Visit megaphone.fm/adchoices

StayFi | Use Code BILL to Get 50% Off Your First 3 Months with StayFi!This episode is Sponsored by MarketMySTR.com the STR Industries #1 marketing platform.In this episode of STR Unfiltered, host Bill Faith interviews Shawn Meaike, the CEO of Family First Life, an industry disruptor and a successful business builder. Sean shares insights into scaling and success, discussing how his journey in the insurance industry took his company to 600 million in revenue. He also provides his unique perspective on creating a personal brand, believing in consistency, transparency, and authentic interaction. The duo also highlight the importance of humility in leadership and the necessity to cut people out when visions don't align during growth. Sean also talks about his journey of sobriety and how making it public improved lives and solidified his brand.00:01 Introduction and Guest Presentation01:17 Guest's Journey to Success03:51 Challenges and Growth in Business06:56 Importance of Humility and Delegation in Leadership12:44 Cutting Ties for Business Growth13:54 Maintaining a Competitive Edge17:08 Building a Personal Brand19:27 The Power of Authenticity in Social Media19:59 The Competitive Nature of Business20:36 The Importance of Being Real and Genuine20:44 Empowering People Through Information20:50 The Reality of the Real Estate Business21:07 The Role of Competition and Interaction in Growth21:36 The Impact of Social Media on Business21:56 The Problem with Fake Success Stories22:23 The Importance of Transparency in Business22:58 The Misconceptions About Wealth25:34 The Power of Personal Branding26:42 The Importance of Consistency and Transparency in Personal Branding33:09 The Power of Sharing Personal Struggles33:53 The Fun and Challenges of Social Media Engagement34:26 Conclusion and Appreciation Learn more about your ad choices. Visit megaphone.fm/adchoices

StayFi | Use Code BILL to Get 50% Off Your First 3 Months with StayFi!This episode is Sponsored by MarketMySTR.com the STR Industries #1 marketing platform.Intro: Bill Faith introduces the podcast and special guests, Ally and Sage from Minoan Experience. They discuss Minoan's focus on creating educational content for the hospitality industry and provide valuable mattress buying tips. Link to Minoan's mattress buying blog: https://blog.minoanexperience.com/sweet-dreams-picking-the-right-mattress-to-boost-guest-satisfaction-in-your-vacation-home/ Segment 1: Minoan's Mission Ally and Sage talk about Minoan's mission to educate and assist vacation rental hosts, designers, and property managers. Emphasize the platform's free access and partnerships with over 160 brands. Highlight the benefits of simplified ordering and post-purchase management. Segment 2: The Value of Minoan Bill discusses the cost-saving benefits of Minoan, citing examples of substantial savings on furniture. Ally and Sage stress the convenience of consolidated ordering and invoicing. Mention the importance of allocating discounts to property owners for maximum ROI. Segment 3: Challenges and Considerations Sage and Ally address common challenges in property design and furnishing. Emphasize the need for quality furnishings and design for a high return on investment. Bill underscores the importance of understanding the target audience and delivering an exceptional guest experience. Learn more about your ad choices. Visit megaphone.fm/adchoices

StayFi | Use Code BILL to Get 50% Off Your First 3 Months with StayFi!This episode is Sponsored by MarketMySTR.com the STR Industries #1 marketing platform. Learn more about your ad choices. Visit megaphone.fm/adchoices

Hank Norman, a modern-day media mogul and Brand Builder who has worked with prominent figures like Steve Harvey, Grant Cardone, Mel Robbins, and more, emphasizes the importance of addressing your audience as a single individual. He highlights the significance of speaking directly to a single person, fostering transparency, authenticity, and vulnerability in building a personal brand. Overcoming the habit of addressing a broad audience, Hank Norman advises consciously focusing on the single person you want to connect with. He discusses the challenge of embracing vulnerability and oversharing, emphasizing the power of personal stories and the benefits of authenticity and vulnerability in building a personal brand.

StayFi | Use Code BILL to Get 50% Off Your First 3 Months with StayFi!This episode is Sponsored by MarketMySTR.com the STR Industries #1 marketing platform.Challenging Times for New Investors: Many new investors are navigating unfamiliar territory. Interest rates are fluctuating, and it's crucial to explore multiple lenders. Don't rely on a single lender; consider local banks, credit unions, and mortgage brokers. Avoid DSCR products if possible, as they often come with prepayment penalties. Protect your credit and DTI by strategizing your mortgage applications. Importance of Underwriting and Education: New investors should focus on learning how to underwrite property performance. Bill teases the upcoming launch of a "Rookie to Intermediate Mastermind" for novice investors. Proper education and strategy are essential in today's challenging market. Interest Rates and Economic Outlook: The economy has shown signs of slowing down, but there's uncertainty about when it will stabilize. Interest rates have fluctuated, making it a challenging time for investors. However, if a deal makes sense financially and you can get it done, it's a good investment. Repositioning Properties: Repositioning properties through refinancing can lead to substantial savings. Bill shares his personal experience with refinancing and its impact on cash flow. Emphasizes the importance of not relying solely on cost-saving benefits when buying properties. Financial Preparedness: Have at least six months of carry costs set aside to weather any downturns. Calculate all expenses, including mortgage, insurance, utilities, and fees. Having a financial cushion provides security and prevents hasty property sales during tough times. Conclusion: Determine your cash-on-cash return and cash flow based on your unique situation. Bill follows a minimum of 15% cash-on-cash return, but each investor's threshold may vary. Investing in today's market is possible with the right financial strategy and education. Thanks for joining the STR Unfiltered podcast. Learn more about your ad choices. Visit megaphone.fm/adchoices

StayFi | Use Code BILL to Get 50% Off Your First 3 Months with StayFi!This episode is Sponsored by MarketMySTR.com the STR Industries #1 marketing platform.In this episode, we have a special guest, the phenomenal Steven Pesavento, one of the founders of Vaughn Finch Capital, with over 200 short-term rentals, 1,200 multifamily units, and a $50 million fund under his belt. 🌟Key Takeaways:Start Small, Learn Big: Steven emphasizes the importance of mastering the basics. Begin with what you can handle and grow from there.Adaptability is Key: Realize that the investment game can change rapidly. Be adaptable to shifting strategies and market conditions.Surround Yourself with Experts: Seek out mentors, coaches, or experts who have achieved what you aspire to. Learning from others can accelerate your success.Continuous Learning: Steven's daily routine involves constant learning, whether it's through podcasts, books, or other resources. Continuous education is vital for growth.Self-Care Matters: Balance work with self-care routines like exercise and meditation. Maintaining a healthy mindset and lifestyle is crucial for long-term success.Implement What You Learn: The key to growth is not just accumulating knowledge but applying it. Take actionable steps based on what you've learned. Learn more about your ad choices. Visit megaphone.fm/adchoices

StayFi | Use Code BILL to Get 50% Off Your First 3 Months with StayFi!This episode is Sponsored by MarketMySTR.com the STR Industries #1 marketing platform.Segment 1: Current Climate in the Rental Market Bill discusses the challenges in the current financial climate for booking and property purchases. Mentions three properties under major renovation in Gulf Shores, OBX (Outer Banks), and Smith Lake. Highlights the need to optimize budgets due to market conditions. Key takeaway: Adaptation and budget optimization are crucial in the current real estate climate. Segment 2: Sourcing and Savings Bill shares a personal experience of sourcing hot tubs and flooring for his properties. Emphasizes the importance of due diligence in sourcing materials. Describes significant cost savings achieved through careful sourcing. Key takeaway: Thorough research and negotiation can lead to substantial savings in property development. Segment 3: Maximizing Budget for Property Upgrades Bill discusses how savings can be reallocated to enhance property features. Examples include upgrading ceilings, expanding kitchen islands, and bathroom renovations. Emphasizes the importance of budget allocation for marketing and attracting ideal guests. Key takeaway: Savings can be invested in property upgrades to enhance marketability. Conclusion: Bill concludes by highlighting the value of smart budgeting and sourcing in building super properties. Encourages listeners to prioritize budget allocation for property upgrades and marketing. Promotes the importance of value stacking to attract ideal guests. Learn more about your ad choices. Visit megaphone.fm/adchoices

StayFi | Use Code BILL to Get 50% Off Your First 3 Months with StayFi!This episode is Sponsored by MarketMySTR.com the STR Industries #1 marketing platform.Bill welcomes Joe, the founder of National Business Capital, to the podcast.Joe's extensive experience in helping business owners access capital is discussed.Key Takeaways:Diverse Lending Platform: Joe's company, National Business Capital, offers a wide range of lending products, from SBA loans to equipment financing, asset-based lending, and more. They help business owners access capital based on their unique needs.Challenges in Obtaining Financing: Obtaining financing for real estate or business acquisitions can be challenging for small business owners. Banks often require audited financials and collateral, which many entrepreneurs lack.Collateral Matters: Collateral coverage goes beyond real estate and includes assets like receivables, inventory, and heavy machinery. Without sufficient collateral, it's challenging to secure loans from traditional banks.Planning for Growth: Entrepreneurs should plan their growth carefully and seek financing before they deplete their cash flow. Joe emphasizes the importance of understanding when and how to secure financing for sustainable growth.Alternative Lenders: As banks tighten their lending criteria, alternative non-bank lenders like National Business Capital become essential resources for business owners seeking capital.Quality of Receivables: B2B receivables are highly valuable collateral and can significantly impact a business's bankability. Having large, reputable clients can make a difference when seeking financing.Equipment Financing: Using financing for equipment purchases can preserve cash flow and provide additional working capital for business growth.Navigating Economic Uncertainty: In uncertain economic times, entrepreneurs should focus on opportunities, stack profits, and make strategic decisions. Accessing capital to capitalize on opportunities can be crucial.Stacking Profits: Building up profits during favorable periods can provide a financial cushion during economic downturns.Stay Informed: Staying informed about economic conditions, interest rates, and market trends is essential for making informed financial decisions.Conclusion:Bill and Joe emphasize the importance of careful financial planning, understanding lending options, and taking advantage of opportunities in both stable and challenging economic environments. Joe's expertise in business financing is a valuable resource for entrepreneurs. Learn more about your ad choices. Visit megaphone.fm/adchoices

StayFi | Use Code BILL to Get 50% Off Your First 3 Months with StayFi!This episode is Sponsored by MarketMySTR.com the STR Industries #1 marketing platform.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