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GUEST'S BIO\nBill 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.\n\ufeffHIGHLIGHTS OF THE EPISODE\n03:58 Bill Faeth's introduction and background\n05:02 Watch Bill's previous episode on Spotify or Apple Podcast\n05:11 How Bill got into the STR industry\n07:15 Figuring out your true goal\n11:23 Emerging markets\n13:37 What to look for in an emerging market\n18:52 How to increase your cash on cash return\n22:44 What does Bill's process look like\n27:28 Making a list\n28:21 Defining the system for your STRs\n31:55 The importance of building trust and goodwill with guests\n32:45 Bill shares a story about this number one property from his portfolio\n34:25 Creating value by asking the guest how we can help them\n35:21 Differentiating yourself in a competitive market\n37:58 The plus one\n41:38 How to create another avenue to market\n45:59 How to increase your ADR\n47:14 Bill reads a review from one of his STRs\n51:59 How interior design and furnishings increase ADR\n58:49 Join us for the biggest event for hosts and investors on June 6 to June 8 for the STR Wealth Conference - www.strwealthconference.com\n01:12:14 Acknowledgments to Bill\n\nNOTABLE QUOTES\n"The property becomes an experience." - Emanuele Pani\n"Asking how we can help is how we can create value." - Bill Faeth\n"It's not about the property, it's what we put into it." - Bill Faeth\n"Those small things are what's going to make a huge difference." - Bill Faeth\n\nCONNECT WITH THE GUEST\nBill Faeth: Website | Instagram | Linkedin\n\n\ufeffCONNECT WITH THE HOSTS \nMichael Sjogren: Short Term Rental Secrets Facebook Group | Clubhouse | Instagram | Youtube | Facebook Page | Linkedin\nhttps://linktr.ee/the_airbnbguy\nEmanuele Pani: Clubhouse | Instagram | Facebook | Linkedin\n\nFREE MASTERCLASS TRAINING - https://www.strsecrets.com/masterclass\nLearn more about your ad choices. Visit megaphone.fm/adchoices