Investing in Luxury Short Term Rentals with Fouad Bazzi - Episode #233

Fouad Bazzi is the Founder and CEO of Crescent Retreats, a Luxury Short Term Rental Brand.

Prior to that, he was a Corporate Banker for 21 years, with the last nine years of that leading a consulting group for Community Banks. Having been a Short Term Rental guest dozens of times, Fouad combined his passion of Entrepreneurship, Real Estate Investing and Travel to launch his company in 2021. Fouad’s Mission is to promote Health, Peace, Love and Travel, and he ensures that all Crescent Retreats have an element of each of these four values.

Fouad is passionate about helping others take control of their own time by way of investing in real estate. He does so through Real Estate partnerships and a mentorship program. He is also a member of three high level Masterminds and is launching his own Mastermind in Detroit to help his community leverage his learnings.

In this episode, we sit down with Fouad as he shares his insights on what luxury means in the short term rental space and how he incorporated the core values of Health, Peace, Love, and Travel to make his luxury brand more personal and cater to the many different ways luxury means to different people. He also discusses the changes he underwent to get into luxury short term rentals and what to expect when entering this space. Lastly he treats us to what's next for Crescent Retreats and the exciting developments on the horizon. Tune in now and Let's Build!

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HIGHLIGHTS OF THE EPISODE:

13:12 Fouad talks about taking advantage of the research and development done by other thriving businesses

17:12 Fouad talks about how everybody wins in the real estate industry

KEEPING IT REAL:

05:27 Health Peace Love and Travel as core values

08:46 The shift needed to build a luxury brand

11:10 What luxury means

14:54 Designing health peace love and travel

16:38 Core competency that was carried over to the short term

rental industry

20:41 Strategy when raising capital and assets in focus

27:29 Key indicators of market appreciation

37:03 What to expect when getting in the luxury space

39:53 Let's talk about revenue

41:12 Exit or refinance

43:03 What to look for in partners

48:14 The best way to structure LLCs

49:58 What is next for Crescent Retreats?

53:21 How to connect with Fouad

NOTABLE QUOTE (KEY LESSONS):

“When you're in the luxury space, we don't have to figure anything out. There's a Four Seasons or a Ritz Carlton close by. There has to be. So Google it. Figure out how they furnish the local one.” - Fouad Bazzi

CONNECTING WITH THE GUEST

Instagram: https://www.instagram.com/crescentretreats/

Facebook: https://www.facebook.com/crescentretreats/

Linkedin: https://www.linkedin.com/in/fouad-bazzi-4415973/

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#shorttermrentals #luxury #FiveStarExperience #corevalues