This episode is Sponsored by MarketMySTR.com the STR Industries #1 marketing platform.In this episode of "STR Unfiltered," host Bill Faith, a seasoned entrepreneur with extensive business experience, discusses a crucial skill for STR hosts and investors: marketing. Bill emphasizes the importance of mastering marketing to succeed in the short-term rental industry and provides a powerful marketing tool.Key Points:Business Acumen: Bill brings his 29 years of entrepreneurship, including 29 startups and 18 exits, to the world of short-term rentals. He believes that having business experience is vital for success in the industry.Marketing Is Key: Bill highlights marketing as the most critical skill for hosts and investors. To stand out in a competitive market, it's essential to excel in marketing strategies.Avoiding Average: Bill asserts that average hosts are struggling in today's saturated markets. To thrive, hosts must upgrade their properties and focus on effective marketing.The Secret Tool: Bill reveals an advanced marketing technique—a "lookalike audience" on Facebook. He explains that by uploading an email list of previous guests, Facebook can create a custom audience and then find similar individuals with uncanny accuracy.Effective Targeting: Bill advises keeping the lookalike audience narrow, ensuring that it closely matches your ideal guests. This precision in targeting is key to success.Qualified Traffic: While creative content and a compelling call to action are crucial, it all begins with qualified traffic, which the lookalike audience provides.Bill encourages hosts to incorporate this powerful marketing tool into their toolkit and welcomes feedback on its effectiveness.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 episode of the "STR Unfiltered" podcast, host Bill Faith discusses the importance of geographic diversification in short-term rental (STR) and real estate investments. Bill highlights several key reasons why investors should consider diversifying their property portfolios across different locations:Mitigating Natural Disaster Risks: Bill shares personal experiences of how natural disasters, like hurricanes and wildfires, can impact rental properties. Geographic diversification reduces the risk of losing multiple properties in one area due to unforeseen events.Revenue Diversification: Diversifying across various regions allows for multiple sources of rental income. This approach helps investors avoid over-reliance on a single market that may experience fluctuations in demand or regulatory challenges.Risk Mitigation from Regulatory Changes: Bill advises considering the political climate and regulatory sentiment in potential investment areas. Investing in regions with established regulations can protect against sudden policy changes that could negatively affect rental properties.Market Expansion: Diversifying geographically opens up a broader range of potential investment opportunities. Investors are not limited to a single local market and can explore nationwide options.Bill emphasizes that diversification should be a part of the underwriting process when evaluating new investment opportunities. By considering income diversification, risk mitigation, and regulatory factors, investors can make informed decisions and protect their investments.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 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.