STR Unfiltered Hospitality.FM

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

➡️ 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
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Bill Faeth and tax strategy expert David Perez dive into the world of short-term rentals (STR) and real estate investing. They discuss the crucial distinction between tax strategy and tax preparation, the benefits of STR for generating cash flow, and overcoming the challenges of high interest rates. The episode covers David’s WISC formula—Wealth, Income, Savings, and Control—and advice on navigating the real estate market for maximum tax and investment benefits. They also introduce the concept of 'lazy 1031' for reinvestment and emphasize the importance of strategic market selection and property management. Upcoming summer bootcamps are announced, featuring specialists like Jeff Hampton, offering comprehensive guidance on investing, tax strategy, and legal structuring.

Join Our Masterclass to Unlock STR Wealth: https://buildstrwealth.com/innercircle
[FREE Download] Unlock Your Potential with Our EXPERT Proforma: https://buildstrwealth.com/proforma

00:00 Introduction to STR Unfiltered
00:14 Meet the Hosts: Bill Faith and David Perez
01:14 Diving into Short Term Rentals
01:19 Interactive Session: Audience Engagement
01:53 Real Estate Investment Strategies
03:16 Navigating High Interest Rates
03:29 The Four Quadrants of Real Estate Investing
04:46 Importance of Cash Flow and Tax Benefits
05:32 Strategic Real Estate Markets
06:47 Impact of Political Climate on Investments
07:20 Understanding Interest Rates and Market Trends
08:41 Debt Pay Down and Amortization Strategies
12:08 Planning for Retirement and Financial Freedom
20:48 Bootcamp Announcements and Offers
24:06 Material Participation and Tax Benefits
28:26 Understanding Personal Days and IRS Classification
28:44 Maximizing Property Use and Maintenance
29:33 Thinking of Airbnb as a Business
30:15 Emotional vs. Financial Decisions in Property Investment
31:33 The 5-52-50 Plan for Financial Growth
32:05 Case Study: Special Needs Airbnb Near Disney
33:43 Investing in Pods for Risk Mitigation
35:55 Material Participation and IRS Audits
38:25 Setting Up a Management Company for STR
39:33 Legal and Tax Strategies for Property Management
41:56 Bootcamp Details and Special Guests
44:09 Q&A: STR Strategies and Tax Benefits
55:18 Final Thoughts and Event 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

Bill focuses on the rampant issue of buyer's remorse in the short-term rental and real estate industry. Bill shares insights from his 32 coaching calls, highlighting the importance of the entry point in real estate investments. He outlines the four critical components of underwriting a property: cash flow, appreciation, tax benefits, and debt paydown. Bill emphasizes the importance of due diligence and running multiple proformas to mitigate risks. He also discusses the significance of accelerated cash flow, the advantages of short-term over long-term and mid-term rentals, and the effective execution of the 550 250 plan. The episode concludes with a bonus tip on creative financing through seller credits.

Join Our Masterclass to Unlock STR Wealth: https://buildstrwealth.com/innercircle
[FREE Download] Unlock Your Potential with Our EXPERT Proforma: https://buildstrwealth.com/proforma

00:00 Introduction to STR Unfiltered
00:15 Buyer's Remorse in Real Estate
01:21 Four Key Components of Property Underwriting
04:10 Importance of Cash Flow
06:43 Appreciation and Its Role
10:06 Tax Benefits and Cost Segregation
11:39 Debt Pay Down Strategies
17:01 Creative Financing and Seller Credits
19:39 Conclusion and Masterclass Invitation


➡️ 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 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/dticalculator

00:00 Introduction to STR Unfiltered
00:22 The Importance of Five-Star Reviews
00:30 Strategies for Getting Reviews
02:46 Handling Guest Issues Effectively
05:12 The Checkout Process and Review Timing
08:27 Final Tips for Maximizing Reviews
11:06 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.

Sign Up for Our STR Host Academy: https://www.strhostacademy.com/hostacademy
[FREE Download] Unlock Your Potential with Our EXPERT Proforma: https://buildstrwealth.com/proforma

00:00 Welcome and Introduction to STR Unfiltered
00:27 The Business Mindset for Short-Term Rentals
01:06 From First Property to a Portfolio: A Personal Journey
02:31 The Importance of Self-Management and Skills in STR Success
03:12 Leveraging Automation and Technology in STR Management
04:05 Building a Super Portfolio: Property Locations and Management Insights
06:18 Operational Excellence: SOPs, Hiring, and Training
06:45 Navigating Challenges and Solutions in STR Management
11:17 The Future of STR Communication and Market Selection Strategy
13:31 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/550250masterclass

In 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 Faith
00:15 Meet Ryan Bakke: The Tax Whiz Saving Millions
00:38 Deep Dive into Tax Strategies and Real Estate Investing
02:30 Navigating Tax Refunds, Amendments, and Financial Planning
05:32 The Intricacies of 1031 Exchanges in Real Estate
13:57 Strategic Portfolio Management and Financial Discipline
19:09 The Impact of Market Dynamics on Real Estate Investing
23:18 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