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 Learn more about your ad choices. Visit megaphone.fm/adchoices