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https://go.buildstrwealth.com/movetheneedle
MarketMySTR: https://www.marketmystr.com/
Co-hosting Business Masterclass: https://buildstrwealth.com/cohost
5/50/250 Plan: buildstrwealth.com/550250masterclass
In this episode you'll learn how to break into the Airbnb business without owning a property by becoming a co-host. Bill explains the process, addressing common questions about co-hosting, required skills, and how to make money. He contrasts co-hosting with the riskier Airbnb arbitrage model and provides insights on how to manage and profit from co-hosting ethically. By the end, viewers will have actionable steps to start their short-term rental journey, including marketing strategies and scaling tips to make significant income without upfront investment.
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Discount code: BILL
00:00 Introduction to Starting Airbnb with No Money
00:11 Why Co-Hosting is the Best Option
01:00 The Pitfalls of Arbitrage
02:16 Understanding Airbnb Co-Hosting
03:13 Transparency in Co-Hosting
05:19 Financial Setup and Scaling
08:22 Maximizing Earnings and Scaling Up
13:05 Targeting High-End Markets
14:24 Building a Brand and Acquiring Clients
19:52 Conclusion and Masterclass Invitation
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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.
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Bill welcomes Brianna Chavis, a resilient co-host in the short-term rental (STR) industry. Brianna shares her remarkable journey overcoming significant adversities, including losing her home to a fire and enduring hurricane damages. The discussion highlights her transition from real estate investing to co-hosting to recover financially, underscoring the importance of resilience, safety measures, and proper insurance coverage. Brianna's experiences offer valuable lessons in reviewing insurance policies, ensuring adequate coverage, and the financial implications of policy changes. The episode also emphasizes the strength in community and gratitude towards mentorship. Listeners are encouraged to subscribe for more insightful content.
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Discount code: BILL
00:00 Introduction and Event Promotion
00:53 Meet Brianna Chavis: A Story of Resilience
01:44 The Day Everything Changed
04:44 Insurance Woes and Lessons Learned
10:18 Navigating Post-Disaster Challenges
11:15 Building a Co-Hosting Business
11:42 Financial Struggles and Survival
12:32 Fire Safety and Property Management
14:36 Success Stories and Case Studies
16:29 Overcoming Natural Disasters
17:20 Lessons Learned and Future Plans
19:29 Final Thoughts and Gratitude
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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!
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https://go.buildstrwealth.com/movetheneedle
Bill sits down with Austin Palacios, a wealth manager turned short-term rental investor, to discuss his journey into the rental market and the establishment of his Airbnb property management business in Southern Florida. The conversation reveals strategies for managing and scaling a property portfolio, particularly focusing on high-revenue, luxury properties with pools. Key insights include effective customer acquisition, building authority in a single market, and leveraging inbound marketing. Practical advice such as maintaining a manageable number of properties, using Zoom consultations, and integrating sales and marketing efforts is shared. The importance of building trust and demonstrating value before pitching is emphasized, with further guidance on avoiding common mistakes and ensuring consistent follow-up with potential clients.
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Discount code: BILL
00:00 Welcome to STR Unfiltered with Bill Faith and Austin Palacios
00:37 Austin's Journey from Wealth Management to Real Estate
01:41 Diving into the Co-Hosting Business
02:49 Challenges and Learning in Property Management
06:01 Exploring Austin's Property Portfolio
09:53 Customer Acquisition Strategies in Co-Hosting
10:55 Lead Generation Strategies
11:23 Sales and Marketing Integration
11:42 Building a Top Airbnb Portfolio
12:16 Effective Co-Hosting Techniques
13:21 Scaling and Managing Properties
15:26 Mastering Sales Calls
17:15 Inbound Marketing and Value Addition
20:55 Final Thoughts and Key Takeaways
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• Check Out Our website: https://buildstrwealth.com/
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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.
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https://go.buildstrwealth.com/movetheneedle
Bill discusses the critical importance of evaluating real estate agents when purchasing property. He outlines four essential criteria every agent must meet, highlighting the necessity of running your own numbers and underlining the pitfalls of relying solely on agents' calculations. Bill shares his experiences with top agents such as Avery Carl and Tyler Coon, emphasizing the significance of an agent's experience and their involvement in the short-term rental market. He stresses the importance of agents speaking the industry lingo and owning short-term rentals themselves, providing insights into the best practices for property investment. Bill concludes with advice on focusing on strategic property deals rather than just large-scale investments.
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Discount code: BILL
00:00 Introduction to STR Unfiltered
00:05 Why You Shouldn't Trust Your Real Estate Agent
00:52 The Importance of Running Your Own Numbers
04:37 Using Data Tools for Accurate Projections
06:03 The Significance of STR Sales Experience
08:11 Speaking the STR Lingo
09:43 The Value of Agent Ownership
10:55 Conclusion and Final Thoughts
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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.
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https://go.buildstrwealth.com/movetheneedle
Bill outlines a comprehensive guide to becoming the number one property in your market by focusing on location, views, proximity, unique amenities, and guest-centric design. With specific examples from successful properties, it highlights the importance of a best location that cannot be replicated, ensuring top views, proximity to desired attractions, and offering distinctive amenities. The focus is also on designing for an ideal guest persona, such as 'Wealthy Wendy,' to create an appealing and marketable property. BIll concludes with three bonus strategies, including buying properties wisely, innovating with unique amenities, and leveraging a strong guest profile.
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00:00 Introduction: Becoming the Top Property in Your Market
00:24 Tip 1: Best Location
02:19 Tip 2: Top Views
04:50 Tip 3: Proximity
06:40 Tip 4: Unique Amenities
10:38 Tip 5: Design for Your Ideal Guest
11:37 Bonus Tips for Success
14:25 Conclusion and Final Thoughts
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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.
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Bill walks listeners through the challenges that short-term rental property owners will face in 2024, identifying seven key components to address: Market Saturation, Market Selection, The Kardashian Effect, Budget, Pricing Strategies, Debt Control, and Proforma Use. Faye emphasizes the importance of unique amenities, competitive pricing, and efficient property setup. Additionally, he advises on prudent financial management and the strategic timing of property investments to ensure long-term success. Tune in for actionable insights to enhance your short-term rental investments.
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Discount code: BILL
Unlock Your Potential with Our EXPERT Proforma: https://buildstrwealth.com/proforma
Bootcamp Tour: https://go.buildstrwealth.com/tour
00:00 Introduction to STR Unfiltered
00:16 Revolutionary Product: StayFi
01:50 Meet Your Host: Bill Faith
02:45 Challenges in 2024 and Solutions
03:39 Market Saturation and Selection
13:17 The Kardashian Effect in Property Marketing
18:25 Budgeting for Success
20:19 Effective Pricing Strategies
22:23 Managing Debt and Investment Strategies
25:04 Conclusion and Final Thoughts
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• 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.
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Bill sits down with Erik Courson from STR Tech Talk to discuss essential technology and automation tips for short-term rental hosts. They dive into the importance of getting hands-on experience before adopting advanced platforms like OwnerRez, the value of mobile experience, and the critical role of guest messaging. Erik shares insights on using platforms such as Hospitable for better messaging management, integrating AI for optimizing pricing, and the importance of learning from communities. Practical advice is given for both beginners and more experienced hosts on leveraging technology to improve hosting capabilities.
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Bootcamp Tour: https://go.buildstrwealth.com/tour
00:00 Welcome to STR Unfiltered with Erik Courson
00:24 Starting with Technology in STR
01:44 Mobile vs. Laptop for STR Management
02:33 Importance of Guest Messaging
05:20 Advanced Automations and AI in STR
08:09 Building Custom Reports and Dashboards
09:00 Advice for Experienced Hosts
09:30 The Value of Community and Learning
10:46 Closing Remarks and Community Shoutout
➡️ Connect with us:
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• Check Out Our website: https://buildstrwealth.com/
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• 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.
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Bill sits down with Avery Carl, a renowned expert in short-term rentals, discusses her preparations for the New York Marathon, balancing family life with professional responsibilities, and her approach to real estate investments. They touch upon the current state of the real estate market, including the best strategies for buying and selling properties amidst high interest rates and market fluctuations. Avery shares her personal investment experiences, emphasizing the importance of diversifying portfolios and learning from mistakes.
stayfi.com/bill
Discount code: BILL
Bootcamp Tour: https://go.buildstrwealth.com/tour
00:00 Introduction to STR Unfiltered
00:16 Revolutionizing Bookings with StayFi
01:55 Avery Carl's Marathon Training Journey
03:50 Balancing Parenthood and Professional Life
07:24 Deep Work and Time Management Strategies
10:05 Current Real Estate Market Insights
20:18 Exploring Small Property Investments
20:43 Ski Property Ventures and Challenges
21:11 Invitation to Ski and Snowboarding Boot Camp
21:55 Market Saturation and Investment Strategies
23:47 Details on One Bedroom Property
26:03 Diversification in Real Estate Investments
30:54 Challenges with Cash Flow Focused Investments
34:33 Lessons from Real Estate Failures
40:05 Conclusion and Final Thoughts
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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.
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https://go.buildstrwealth.com/movetheneedle
Bill sits down with Jake Cohen, a top revenue manager, who provides insights on effective revenue management strategies post-COVID. Topics include the importance of market data, PriceLabs Market Research Report, listing optimization, and manual versus automated pricing adjustments. Jake also emphasizes the necessity of regular data review and offers free consultations to enhance revenue management.
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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.
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Ryan Bakke's Tax Prep: https://retaxprep.com/apply?am_id=billfaeth2205
Bill is joined by Ryan Bakke, a key team member and expert in financial and tax planning. They discuss critical steps for financial stability, including establishing an emergency fund, leveraging 401k matches, calculating the financial independence number, and strategically investing in real estate. Ryan also introduces a new affordable tax preparation program designed for real estate investors. The episode wraps up with insights on the importance of proper tax planning and financial management to avoid costly mistakes and optimize returns.
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Discount code: BILL
https://buildstrwealth.com/innercircle
Bootcamp Tour: https://go.buildstrwealth.com/tour
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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.
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Bill is joined by Tyler Coon from Savvy Realty. They discuss Tyler's rapid business expansion into multiple more markets over less than two years due to client demand and hiring a director of expansion. Key topics include leveraging strengths, outsourcing weaknesses, effective communication through DISC testing, and evaluating STR market potential in various U.S. regions. They also delve into recent changes in NAR regulations and their impact on buyers, sellers, and real estate agents, along with advice on navigating fluctuating interest rates and the investor market. The episode wraps up with Tyler sharing insights on maintaining effective real estate transactions and the importance of keeping diligent market watch during peak STR buying seasons.
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Discount code: BILL
https://buildstrwealth.com/cohost
https://buildstrwealth.com/innercircle
Bootcamp Tour: https://go.buildstrwealth.com/tour
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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.
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Bill shares his extensive experience in generating significant revenue through co-hosting. He outlines an effective sales process tailored for the Short-Term Rental (STR) market, emphasizing targeted lead generation over traditional mass-appeal methods. Bill discusses the importance of selecting high-value properties, leveraging sales strategies from other industries, and provides a detailed step-by-step guide for closing deals. He also stresses the significance of understanding objections, having a strong follow-up process, and ensuring both decision-makers are involved in sales discussions. Full of practical tips and insights, this episode offers a comprehensive blueprint for anyone looking to maximize their income as a co-host.
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Discount code: BILL
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https://buildstrwealth.com/innercircle
Bootcamp Tour: https://go.buildstrwealth.com/tour
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• 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.
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Bill welcomes special guest Paula Blankenship, a successful entrepreneur with a rich history in the furniture and paint industries. Blankenship shares her journey from growing up in Tennessee with entrepreneurial parents to creating the 23rd largest paint company in North America. She discusses the importance of vertical integration, the challenges faced during economic downturns, and her groundbreaking product, All-In-One Paint. Blankenship's story is filled with invaluable lessons on resilience, innovation, and the critical mindset needed to succeed in any business. Her insights on simplifying processes, inventory management, and focusing on the next best move provide a masterclass in entrepreneurship. This episode offers a wealth of knowledge for business owners and aspiring entrepreneurs alike.
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Discount code: BILL
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➡️ Connect with us:
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• 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.
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Bill emphasizes the importance of uniqueness in real estate investments. He criticizes the impatient and reckless approach of current buyers who are not properly underwriting properties. Bill shares personal experiences with his unique properties, detailing how these distinct features provide competitive advantages and higher returns. He also offers insights on avoiding common pitfalls, like overdesigning, and stresses the importance of continuous practice in underwriting and market research. Bill concludes by highlighting the value of specific tools for identifying promising investments and invites listeners to subscribe for more expert real estate advice.
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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.
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Bill Faith and guest Emile Sahkel discuss the critical role of revenue management in short-term rental success. Emile, an experienced anesthesiologist turned revenue manager, shares insights on setting realistic goals, evaluating market conditions, seasonal pricing strategies, and overcoming common mistakes self-managers make. They also discuss leveraging marketing alongside revenue management to boost performance and share real-life examples of how these strategies have significantly increased revenue for high-end properties. Listeners are encouraged to treat their properties as businesses and use comprehensive data analysis and expert tools for optimal results.
Couples Retreat - https://buildstrwealth.com/puertorico
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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.
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Bill addresses common misconceptions about revenue management and outlines key principles for success. The speaker introduces an upcoming series featuring top revenue managers like Emile Sakhel and Jake Cohen, emphasizing the importance of mindset and manual processes in revenue management. Strategies discussed include daily and multiple daily pricing adjustments, importance of minimum night stays, and using market research reports to inform pricing strategies. The host also highlights the role of listing optimization and rankings in maximizing revenue. Future episodes will feature interviews with experts to provide further insights.
Couples Retreat - https://buildstrwealth.com/puertorico
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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.
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Bill shares his methods for building personal connections with guests, emphasizing direct communication, personalized messages, and maintaining high service standards to boost guest satisfaction and generate rebookings. Additionally, Bill outlines the critical role of speed and quality control in managing rental properties effectively.
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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.
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Bill shares his comprehensive checklist for underwriting profitable properties, emphasizing the importance of intangibles and listing optimization. Broadcasting from a lakefront property in Alabama, he discusses key components such as revenue management, off-platform marketing, and advanced listing techniques. Bill highlights the critical role of high-quality photos, exceptional copywriting, and effective use of dynamic pricing tools. The episode provides a deep dive into his targeted marketing strategies, including Google trends, buy-sell trade groups, and a 200-day direct booking funnel, aiming to help listeners optimize their property listings and boost their revenues.
Couples Retreat - https://buildstrwealth.com/puertorico
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Discount code: BILL
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https://buildstrwealth.com/innercircle
02:00 Introduction to Property Underwriting
02:40 Location and Marketing Components
03:50 Personal and Property Checklists
05:23 Listing Optimization Strategies
06:35 Revenue Management Insights
11:24 Off-Platform Marketing Techniques
18:20 Conclusion and Final Tips
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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.
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Bill shares his strategy for reducing dependence on Online Travel Agencies (OTAs) and boosting direct bookings. He discusses his '550 250 Plan,' which aims to generate $250,000 in income over five years with five properties, each netting over $50,000. Bill details his latest $3 million property purchase in Montana, funded through strategic sales and creative financing. He breaks down essential components of sound investing: cash flow, appreciation, tax benefits, and debt paydown, and provides actionable insights into acquiring and managing profitable short-term rental properties.
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Discount code: BILL
www.buildstrwealth.com/550250masterclass
https://buildstrwealth.com/innercircle
00:00 Introduction to STR Unfiltered
00:17 The Power of StayFi for Email List Building
01:18 Exclusive StayFi Discount Offer
01:54 Buying a $3 Million Property for Free
03:23 The 550 250 Plan Explained
03:50 Case Study: Banner Elk Property
05:27 Finding and Evaluating Deals
06:44 Case Study: Gulf Shores Property
08:09 Case Study: Coram Condo
11:25 Executing the 550 250 Plan
13:06 Four Core Components of Sound Investing
21:30 Conclusion and Next Steps
➡️ Connect with us:
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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.
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#STRUnfiltered #BillFaeth #STR
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Bill Faeth draws on his personal experiences to offer insights on maximizing revenue from short-term rentals. Recording from his cabin in Olney, Montana, Bill shares the story of his own property investment, discussing the importance of marketing skills, the underwriting process, and the need to balance lifestyle desires with financial decisions. He categorizes property purchases into three buckets: 100% financial-driven, a mix of lifestyle and financial, and primarily lifestyle-focused. Bill emphasizes the importance of understanding what guests want, especially focusing on outdoor amenities, and shares tips on managing and optimizing listings. Lastly, he underscores the value of investing in top-tier photography and videography for enhancing property appeal.
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00:00 Introduction to STR Unfiltered
00:20 The Story Behind the Cabin Purchase
01:24 Revving Up Your Revenue
02:12 Understanding the Underwriting Process
03:00 The Importance of Lifestyle vs. Financial Decisions
04:29 Mindset and Business Strategy
06:10 Enhancing Guest Experience with Outdoor Amenities
11:01 Value Stacking and Marketing Strategies
12:04 Conclusion and Key Takeaways
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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.
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#STRUnfiltered #BillFaeth #STR
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