Ep 91 - How to Double Your Airbnb Revenue and Stand Out From the Competition with Bill Faeth
GUEST'S BIO
Bill Faeth has been involved in real estate for almost 25 years with both commercial and residential investing. He currently has a multi-million dollar portfolio of short-term rental properties primarily located in vacation rental markets with a focus on beach, lake, and mountain properties. He has leveraged years of successful business growth strategies to specialize in maximizing vacation rental profits by turning $50,000 annual revenue properties into $90,000 properties yielding high profit via self-management.
HIGHLIGHTS OF THE EPISODE
03:58 Bill Faeth's introduction and background
05:02 Watch Bill's previous episode on Spotify or Apple Podcast
05:11 How Bill got into the STR industry
07:15 Figuring out your true goal
11:23 Emerging markets
13:37 What to look for in an emerging market
18:52 How to increase your cash on cash return
22:44 What does Bill's process look like
27:28 Making a list
28:21 Defining the system for your STRs
31:55 The importance of building trust and goodwill with guests
32:45 Bill shares a story about this number one property from his portfolio
34:25 Creating value by asking the guest how we can help them
35:21 Differentiating yourself in a competitive market
37:58 The plus one
41:38 How to create another avenue to market
45:59 How to increase your ADR
47:14 Bill reads a review from one of his STRs
51:59 How interior design and furnishings increase ADR
58:49 Join us for the biggest event for hosts and investors on June 6 to June 8 for the STR Wealth Conference - www.strwealthconference.com
01:12:14 Acknowledgments to Bill
NOTABLE QUOTES
"The property becomes an experience." - Emanuele Pani
"Asking how we can help is how we can create value." - Bill Faeth
"It's not about the property, it's what we put into it." - Bill Faeth
"Those small things are what's going to make a huge difference." - Bill Faeth
CONNECT WITH THE GUEST
Bill Faeth: Website | Instagram | Linkedin
CONNECT WITH THE HOSTS
Michael Sjogren: Short Term Rental Secrets Facebook Group | Clubhouse | Instagram | Youtube | Facebook Page | Linkedin
https://linktr.ee/the_airbnbguy
Emanuele Pani: Clubhouse | Instagram | Facebook | Linkedin
FREE MASTERCLASS TRAINING - https://www.strsecrets.com/masterclass
