How to Build Short-Term Rental Wealth with Bill Faeth

In debates surrounding the future of short-term rentals, some landlords continue to excel in this niche. In this episode of Zen and the Art of Real Estate Investing, Jonathan sits down with Bill Faeth, a short-term rental master. Bill shares the keys to thriving in this asset class, emphasizing calculation, hospitality, and what he calls the “plus ones.” As an Airbnb coach and eight-figure business leader, Bill has a breadth of knowledge and experience, having coached over 20,000 students through his programs and founded industry events and resources like the STR Wealth Conference, the Build STR Wealth Mastermind, and two podcasts: STRonomics and STR Unfiltered.

During their conversation, Jonathan and Bill unravel the tangles of successful short-term rentals (STRs). From his grandparents' wisdom to price elasticity and exit strategies, Bill's approach is grounded in time-tested principles. You’ll hear how Bill highlights high-end amenities in STRs, applies standardized business practices, and advises you on ignoring FOMO as you make investment decisions. Prioritizing client relationships, establishing trust, and aligning personal enjoyment with where he purchases STRs is Bill’s blueprint for continuing to thrive in the STR market.

 

Bill and Jonathan delve deeper into the following points:

  • Implementing standardized business principles in your investing strategy is crucial. It helps mitigate risk on the front end, maximize cash flow, and increase the variability of your exit, along with a higher potential to redeploy your cash or take profits.

  • Your mindset matters in real estate investing.

  • There are three things guests should know about you when they rent your STR: why you started, what you do, and the “why” behind it now.

  • Unique or memorable touches and experiences can make your guests feel valued and convert them into repeat guests.

 

Short-term rentals are far from a dead asset class, and Bill Faeth’s interview with Jonathan is a masterclass in learning how to make them work for your real estate investing goals.

If you want to learn more about Zen and the Art of Real Estate Investing Podcast, check out http://www.trustgreene.com/podcast/zen/124 .

Real Estate InvestingJonathan GreeneComment