STRonomics (Bill Faeth & Kenny Bedwell)

This episode of STRonomics is proudly sponsored by MarketMySTR.com, the leading marketing platform for STR Industries. In the latest episode of STRonomics, Bill and Kenny engage in a candid discussion about their perspectives on Home Equity Line of Credits (HELOCs) and their potential to significantly impact one's investing prowess. They delve into the common practice among investors of utilizing a HELOC by leveraging their primary residence, underlining that while this might seem appealing, it could prove detrimental if not approached with careful consideration. A pivotal point they stress is that venturing into this avenue sans a substantial reserve of savings to sustain a fledgling business could severely undermine one's financial capacity. The fundamental prerequisite for even contemplating a HELOC is to ensure an ample reservoir of funds. Bill passionately asserts that employing a HELOC as an investment strategy displays a lack of prudence, particularly empathizing with individuals aspiring to invest with limited capital. He underscores that the presence of concrete numerical indicators is pivotal; without these, the prospect of property investment should not even be entertained. Stressing the significance of comprehensive financial planning, they advocate aligning investment endeavors with one's long-term life objectives. In conclusion, Bill and Kenny advocate for astute decision-making by advocating prudent financial practices. They underscore the need for strategic thinking and self-investment, presenting a holistic approach to achieving financial well-being.Bill announces the Fall Accelerator course a virtual 8-week intensive program led by expert STR investors, tax & legal professionals, and real estate marketers… (A.K.A. “The Super Team”). With carefully curated key principles revealed at this year’s STR Wealth Conference into an actionable blueprint, combining “Go-at-your-own-pace” video lessons with LIVE Zoom consultations. The end result…? A more profitable and risk-adjusted STR portfolio that’s aligned with your vision. Clear this link to put your name on the waitlist > https://strsuperteam.com/  Bill and Kenny will also be hosting a virtually free training course scheduled for Wednesday, Aug 23, 2023, at 3 PM EST. In this session, they will share comprehensive guidance on locating VAs, vetting them effectively, and training them for specific tasks. Attendees will have the opportunity to ask questions and gain expert opinions from both Bill and Kenny, making this training a must-attend event for anyone seeking to optimize their business with virtual assistants. Mark your calendars and don't miss out on this invaluable opportunity! Click this link to sign up for the training> https://tinyurl.com/nhhb2k3u [00:03] Introducing STRonomics {01:30] Cost of HELOC [02:55] Don’t Sacrifice Primary Residence [05:20] Building A Pool [06:42] Age As A Factor [7:50] Too Big Of A Risk [11:00] Getting More Personal [13:22] Having A Long Runway [18:00] Life Planning [20:15] Two Properties [23:00] Defined Payback Period [26:00] Doing Better [27:42] Fall Accelerator Course [28:50] Talking About Money [29:50] Wrapping Up Watch this podcast each Thursday on our YouTube Channel: https://www.youtube.com/channel/UCnheh3vx0hT5Y7uHWhBs8kA STR Data Hosts Facebook Page Instagram: Kenny_Bedwell You can find more of Bill online at: Bill Faeth Linktree: https://linktr.ee/bfaeth?utm_source=linktree_profile_share<sid=660cbc9b-4a7e-4ed9-a654-900180b83af1 Build STR Wealth: https://buildstrwealth.com/ Instagram: @BillFaeth73 Tik Tok: @bfaeth Learn more about your ad choices. Visit megaphone.fm/adchoices

Welcome back to Stronomics with Kenny Bedwell and Bill Faeth, your go-to source for the latest and greatest in short-term rental investing! In this episode, they kick off the discussion by revealing the best places in the country to invest in. Gain insights on how saturation can impact growth in different markets and why blindly following influencers can be risky without thorough data analysis. Learn how to future-proof your property in an ever-changing market. Don't miss out on this week's episode packed with valuable tips and strategies for successful short-term rental investing. Tune in now! Watch this podcast each Thursday on our Youtube Channel: https://www.youtube.com/channel/UCnheh3vx0hT5Y7uHWhBs8kA Exclusive Pricelabs Offer Here! Use code BILL25 & get 25% off for the first 3 months (offer valid for new users only) Take the next step towards growing your vacation rental business by enrolling in the STR Host Academy! With our comprehensive training, you’ll get the tools you need to increase your profits, attract new guests, and dominate your competition with marketing. Don’t wait any longer to start seeing results. Enroll in the STR Host Academy today! https://www.strhostacademy.com/hostacademy You can find more of Bill online at: Bill Faeth Linktree: https://linktr.ee/bfaeth?utm_source=linktree_profile_share<sid=660cbc9b-4a7e-4ed9-a654-900180b83af1 The Free Build STR Wealth Facebook Group: https://www.facebook.com/groups/284886002732508 Build STR Wealth: https://buildstrwealth.com/ BK Hot Picks: https://bkhotpicks.com/ Instagram: @BillFaeth73 Tik Tok: @bfaeth Learn more about your ad choices. Visit megaphone.fm/adchoices

This episode of STRonomics is proudly sponsored by MarketMySTR.com, the leading marketing platform for STR Industries. This episode kicks off with a light-hearted anecdote about karaoke, quickly moving into the heart of discussing real estate in the short-term rental (STR) market. The hosts, Bill and Kenny, delve into the complexities of knowing when to sell properties, especially for those who may have overpaid for units in areas like the Smokies in 2021 and are now facing losses. They highlight the importance of market analysis, strategic investment, and recognizing the difference between struggling due to poor management versus an inherently bad investment. The duo also provides insights on maximizing returns, conducting an equity audit, and the potential need to sell properties for better reinvestment opportunities. Towards the end, the discussion emphasizes not holding onto underperforming properties out of fear of loss and encourages reaching out for expert advice to make informed decisions. The episode wraps with a brief mention of their company, STRVAs, and a hopeful note on better investment choices. 00:00 Opening Banter: Karaoke Tales and Podcasting No-Nos 02:33 Diving into Real Estate: The Pitfalls of Overpaying and Underperforming Properties 03:58 Market Analysis: Identifying Saturated Markets and Investment Strategies 08:41 When to Sell: Strategies for Maximizing Returns and Cutting Losses 10:01 Leveraging Expertise: The Role of STRVAs in Revenue Management 22:58 Final Thoughts: The Importance of Timely Decisions in Real Estate Investing We handle the day-to-day tasks of your short-term rental, giving you the freedom to grow your business and focus on the things that matter most. In the dynamic landscape of short-term rentals, success lies in the details. At STR Super VAs, we bring expertise to every facet of your business, ensuring those details are meticulously managed. Click here to learn more about how you can integrate VAs into your business! https://www.strvas.com/ Watch this podcast each Thursday on our YouTube Channel: https://www.youtube.com/channel/UCnheh3vx0hT5Y7uHWhBs8kA STR Data Hosts Facebook Page Instagram: Kenny_Bedwell You can find more of Bill online at: Bill Faeth Linktree: https://linktr.ee/bfaeth?utm_source=linktree_profile_share<sid=660cbc9b-4a7e-4ed9-a654-900180b83af1 Build STR Wealth: https://buildstrwealth.com/ Instagram: @BillFaeth73 Tik Tok: @bfaeth Learn more about your ad choices. Visit megaphone.fm/adchoices

This episode of STRonomics is proudly sponsored by MarketMySTR.com, the leading marketing platform for STR Industries. In this episode of STRonomics, hosts are joined by Bill Faeth and Kenny Bedwell to explore the importance of niche marketing in the short-term rental (STR) industry. They discuss the success of a Blue Ridge property owner who significantly increased earnings by making her listings the most pet-friendly in the area, showcasing amenities like custom dog biscuits and a pet souvenir station. Another property offers a cannabis-friendly experience, catering to guests interested in a smoke-friendly environment. The conversation also covers themed properties, like Taylor Swift-themed homes and overly themed Harry Potter houses, emphasizing the importance of targeting the right audience without being overly niche. They caution against personal preferences overshadowing market demand and highlight that successful niche marketing aligns with guest demographics and interests, showing the potential of well-thought-out themed and targeted properties in increasing occupancy and revenue. 00:00 Welcome to STRonomics 00:28 Diving into Niche Marketing in Real Estate 00:35 The Power of Targeting Ideal Buyers 01:45 A Deep Dive into Pet-Friendly and Cannabis Properties 05:00 The Importance of Going All In on Your Niche 06:40 Exploring Other Niche Property Themes 07:09 The Pitfalls of Over-Theming and Misalignment with Market 13:22 The Key to Successful Niche Marketing: Understanding Your Audience 18:53 Closing Thoughts and Future Episodes We handle the day-to-day tasks of your short-term rental, giving you the freedom to grow your business and focus on the things that matter most. In the dynamic landscape of short-term rentals, success lies in the details. At STR Super VAs, we bring expertise to every facet of your business, ensuring those details are meticulously managed. Click here to learn more about how you can integrate VAs into your business! https://www.strvas.com/ Watch this podcast each Thursday on our YouTube Channel: https://www.youtube.com/channel/UCnheh3vx0hT5Y7uHWhBs8kA STR Data Hosts Facebook Page Instagram: Kenny_Bedwell You can find more of Bill online at: Bill Faeth Linktree: https://linktr.ee/bfaeth?utm_source=linktree_profile_share<sid=660cbc9b-4a7e-4ed9-a654-900180b83af1 Build STR Wealth: https://buildstrwealth.com/ Instagram: @BillFaeth73 Tik Tok: @bfaeth Learn more about your ad choices. Visit megaphone.fm/adchoices

This episode is Sponsored by MarketMySTR.com the STR Industries #1 marketing platform. Bill and Kenny strategize about Mid Term Rentals Vs Short Term Rentals and why mixing the two on a singular listing can be bad news. Kenny shares the story of how an unusual month-long rental moved his property from the first page to the fourth page of Airbnb. Bill expands on the importance of keeping a close eye on your annualized revenue rather than your month-to-month. You can’t miss this episode! [00:03] Introducing STRonomics [01:05] Off-Season Rentals [01:50] Story by Kenny [02:47] Consequence of MTR [05:00] Snowbirds At The Beach [06:30] Dropping Rates [07:45] How Kenny Got It Back [09:55] Looking At Your Annualized Revenue [12:25] What Will Alter Your Rankings [13:00] Using MTR As A Strategy [15:04] In Closing Learn the strategies and secrets you need in this one-day virtual event to increase bookings without having to simply drop your prices! Click Here for more info > Maximizing Revenue Event Sign up before it's too late! Watch this podcast each Thursday on our Youtube Channel: https://www.youtube.com/channel/UCnheh3vx0hT5Y7uHWhBs8kA STR Data Hosts Facebook Page Instagram: Kenny_Bedwell You can find more of Bill online at: Bill Faeth Linktree: https://linktr.ee/bfaeth?utm_source=linktree_profile_share<sid=660cbc9b-4a7e-4ed9-a654-900180b83af1 Build STR Wealth: https://buildstrwealth.com/ Instagram: @BillFaeth73 Tik Tok: @bfaeth Learn more about your ad choices. Visit megaphone.fm/adchoices

On today's episode Bill and Kenny sit to discuss where they think you should be looking to invest in 2023. You don't want to miss it! Contact Tyler Coon and his team to get your next Short-Term Rental property under contract! Our podcast Is doing a survey to get to know our listeners more! Use this link to fill out the survey! You can find Bill online at: https://www.facebook.com/groups/284886002732508 - The Free Build STR Wealth Facebook Group Build STR Wealth BK Hot Picks STR UNFILTERED Instagram: @BillFaeth73 Tik Tok: @bfaeth You can find Kenny online at: https://strinsights.com/ Instagram: @strinsights Learn more about your ad choices. Visit megaphone.fm/adchoices

This episode is Sponsored by MarketMySTR.com the STR Industries #1 marketing platform. We handle the day-to-day tasks of your short-term rental, giving you the freedom to grow your business and focus on the things that matter most. In the dynamic landscape of short-term rentals, success lies in the details. At STR Super VAs, we bring expertise to every facet of your business, ensuring those details are meticulously managed. Click here to learn more about how you can integrate VAs into your business! https://www.strvas.com/ Watch this podcast each Thursday on our YouTube Channel: https://www.youtube.com/channel/UCnheh3vx0hT5Y7uHWhBs8kA STR Data Hosts Facebook Page Instagram: Kenny_Bedwell You can find more of Bill online at: Bill Faeth Linktree: https://linktr.ee/bfaeth?utm_source=linktree_profile_share<sid=660cbc9b-4a7e-4ed9-a654-900180b83af1 Build STR Wealth: https://buildstrwealth.com/ Instagram: @BillFaeth73 Tik Tok: @bfaeth Learn more about your ad choices. Visit megaphone.fm/adchoices

This episode is Sponsored by MarketMySTR.com the STR Industries #1 marketing platform. Real estate investing checklist. 0:00 Identify your market and buyer persona to craft an effective offer. Define goals before purchasing a property, says Kenny Bedwell. Investment goals and strategies. 5:46 Kenny emphasizes the importance of understanding personal preferences when investing in STRS, including proximity, seasonality, and lifestyle assets. Kenny also highlights the logical side of investing, including ROI and regulation, which are influenced by personal preferences. Market selection and personal preferences in real estate investing. 9:38 Kenny emphasizes the importance of defining investment goals before selecting a market, as it can lead to fruitless and irresponsible investment decisions. IPhone 13 Pro Max (3): Focus on markets that align with your interests and offer clear advantages, such as better restaurants and wine drinking spots. Kenny: Provides a step-by-step process for choosing markets through education, rather than relying on influencers or chasing trends. Market selection and regulation in short-term rental investing. 13:35 Kenny emphasizes the importance of regulation in market selection, citing examples like Hot Springs, Arkansas, where short-term rentals are limited due to local regulations. iPhone 13 Pro Max (3) agrees, highlighting the need to research regulations before investing in a market, using Asheville as an example of a neighborhood with strict rules against short-term rentals. Creating a successful short-term rental property. 18:12 Kenny emphasizes the importance of understanding the buyer persona before selecting a short-term rental property, as it will impact marketing and positioning efforts. iPhone 13 Pro Max advises against glossing over the steps involved in defining the buyer persona, as it takes hours to complete and is crucial for successful marketing and sales. Real estate investing with a focus on budgeting and property selection. 21:08 Kenny emphasizes the importance of understanding acquisition costs, post-close costs, and carry costs when buying a property. Kenny advises investors to factor in all three costs - acquisition, post-close, and carry - when creating their budget, and to have a minimum of $25,000 set aside for carry costs. Real estate investing strategies and property selection. 25:56 Kenny recommends starting with 10-15 markets and narrowing down the list through research and due diligence. iPhone 13 Pro Max (3) spent 500-700 hours researching before finding the best property in their portfolio. Crafting offers in real estate investing. 30:29 Kenny and iPhone 13 Pro Max (3) discuss crafting offers in real estate, with a focus on getting help to buy points down and putting various components into the offer. Kenny emphasizes the importance of factoring in additional costs, such as amenities, when making an offer on a property. Kenny provides a 5-point checklist for crafting a compelling offer, including defining goals, market selection, and budgeting. We handle the day-to-day tasks of your short-term rental, giving you the freedom to grow your business and focus on the things that matter most. In the dynamic landscape of short-term rentals, success lies in the details. At STR Super VAs, we bring expertise to every facet of your business, ensuring those details are meticulously managed. Click here to learn more about how you can integrate VAs into your business! https://www.strvas.com/ Watch this podcast each Thursday on our YouTube Channel: https://www.youtube.com/channel/UCnheh3vx0hT5Y7uHWhBs8kA STR Data Hosts Facebook Page Instagram: Kenny_Bedwell You can find more of Bill online at: Bill Faeth Linktree: https://linktr.ee/bfaeth?utm_source=linktree_profile_share<sid=660cbc9b-4a7e-4ed9-a654-900180b83af1 Build STR Wealth: https://buildstrwealth.com/ Instagram: @BillFaeth73 Tik Tok: @bfaeth Learn more about your ad choices. Visit megaphone.fm/adchoices

On today's episode Bill and Kenny sit to with their Mastermind in Florida and answer some questions about the industry. You don't want to miss it! Contact Tyler Coon and his team to get your next Short-Term Rental property under contract! Our podcast Is doing a survey to get to know our listeners more! Use this link to fill out the survey! You can find Bill online at: https://www.facebook.com/groups/284886002732508 - The Free Build STR Wealth Facebook Group Build STR Wealth BK Hot Picks STR UNFILTERED Instagram: @BillFaeth73 Tik Tok: @bfaeth You can find Kenny online at: https://strinsights.com/ Instagram: @strinsights Learn more about your ad choices. Visit megaphone.fm/adchoices

This episode is Sponsored by MarketMySTR.com the STR Industries #1 marketing platform. On STRonomics this week, Bill and Kenny go over the common bottlenecks that they see which keep new investors stagnant. They talk about researching the property, how everything looks post-acquisition, and how you have to constantly learn new marketing techniques from industry experts. [0:00] Intro [0:22] Evaluating Properties [5:10] The Barrier of Entry [8:53] Post Acquisition [13:56] Adjusting to The Market [16:30] STR Data Host Event [21:50] Closing Remarks Learn the strategies and secrets you need in this one-day virtual event to increase bookings without having to simply drop your prices! Click Here for more info > Maximizing Revenue Event Sign up before it's too late! Early bird pricing ends in 2 Days! Watch this podcast each Thursday on our Youtube Channel: https://www.youtube.com/channel/UCnheh3vx0hT5Y7uHWhBs8kA STR Data Hosts Facebook Page Instagram: Kenny_Bedwell You can find more of Bill online at: Bill Faeth Linktree: https://linktr.ee/bfaeth?utm_source=linktree_profile_share<sid=660cbc9b-4a7e-4ed9-a654-900180b83af1 Build STR Wealth: https://buildstrwealth.com/ Instagram: @BillFaeth73 Tik Tok: @bfaeth Learn more about your ad choices. Visit megaphone.fm/adchoices

This episode of STRonomics is proudly sponsored by MarketMySTR.com, the leading marketing platform for STR Industries. In this episode of STRonomics, the hosts discuss the importance of location in the success of short-term rental (STR) properties. Their guest, Kenny Bedwell, shares his firsthand experiences with his STR property in Watkins Glen, New York, and how he sets his property apart via unique amenities, such as a newly installed movie theater room. They emphasize the importance of investing in top-performing properties and continually upgrading them to remain competitive and drive high returns. Furthermore, they delve into the strategy behind choosing properties close to key attractions and highlight common pitfalls investors should avoid concerning property location. 00:01 Introduction 00:26 Tour of Kenny's Home Theater 01:56 Discussing ROI and Unique Features 02:48 The Importance of Location in Property Investment 03:10 Case Studies: The Impact of Location on Property Value 03:37 The Pitfalls of Ignoring Location 07:16 The Role of Location in Market Saturation 09:22 The Importance of Unique Property Features 11:02 Investing in Property Upgrades 19:58 Conclusion and Sign Off We handle the day-to-day tasks of your short-term rental, giving you the freedom to grow your business and focus on the things that matter most. In the dynamic landscape of short-term rentals, success lies in the details. At STR Super VAs, we bring expertise to every facet of your business, ensuring those details are meticulously managed. Click here to learn more about how you can integrate VAs into your business! https://www.strvas.com/ Watch this podcast each Thursday on our YouTube Channel: https://www.youtube.com/channel/UCnheh3vx0hT5Y7uHWhBs8kA STR Data Hosts Facebook Page Instagram: Kenny_Bedwell You can find more of Bill online at: Bill Faeth Linktree: https://linktr.ee/bfaeth?utm_source=linktree_profile_share<sid=660cbc9b-4a7e-4ed9-a654-900180b83af1 Build STR Wealth: https://buildstrwealth.com/ Instagram: @BillFaeth73 Tik Tok: @bfaeth Learn more about your ad choices. Visit megaphone.fm/adchoices

This episode is Sponsored by MarketMySTR.com the STR Industries #1 marketing platform. On STRonomics this week, Kenny and Bill dive into additional strategies for cost-cutting with your short-term rental property. They talk about techniques such as maintaining competitive pricing while reducing rates, introducing fresh amenities, emphasizing compelling narratives through your photos, leveraging the power of customer reviews to secure bookings, and implementing savvy cost-trimming measures to maximize yearly savings. You won’t want to miss this episode! [00:03] Introducing STRonomics [01:03] Bookings Down [03:00] Lowering Your Pricing [06:25] Hot Tub Numbers [08:45] Telling a Story With Photos [12:25] Focusing on Reviews [17:23] Auditing Your Expenses [19:44] Summary of the Last Two Episodes [21:25] In Closing Watch this podcast each Thursday on our YouTube Channel: https://www.youtube.com/channel/UCnheh3vx0hT5Y7uHWhBs8kA STR Data Hosts Facebook Page Instagram: Kenny_Bedwell You can find more of Bill online at: Bill Faeth Linktree: https://linktr.ee/bfaeth?utm_source=linktree_profile_share<sid=660cbc9b-4a7e-4ed9-a654-900180b83af1 Build STR Wealth: https://buildstrwealth.com/ Instagram: @BillFaeth73 Tik Tok: @bfaeth Learn more about your ad choices. Visit megaphone.fm/adchoices

On today's episode Bill and Kenny sit to discuss what to do if you don't have any bookings yet for this year. You don't want to miss it! Contact Tyler Coon and his team to get your next Short-Term Rental property under contract! Report: https://www.strinsights.com/top-markets-report-2023 Our podcast Is doing a survey to get to know our listeners more! Use this link to fill out the survey! You can find Bill online at: https://www.facebook.com/groups/284886002732508 - The Free Build STR Wealth Facebook Group Build STR Wealth BK Hot Picks STR UNFILTERED Instagram: @BillFaeth73 Tik Tok: @bfaeth You can find Kenny online at: https://strinsights.com/ Instagram: @strinsights Learn more about your ad choices. Visit megaphone.fm/adchoices

Bill and Kenny highlights the importance of buying properties based on their intrinsic value rather than inflated revenue figures. Kenny Bedwell criticizes realtors who sell properties based on gross income rather than actual value and cautions against over-reliance on revenue projections. They stress that banks do not view single-family homes as commercial assets and will not provide loans based on cap rates. Faith and Bedwell advise potential investors to base their decisions on comparable market values and to be realistic about their revenue projections. They also discuss the risks of Black Swan events, such as natural disasters, affecting property value and revenue. The episode underscores the need for thorough market analysis and consideration of appreciation rates. Both hosts advocate for a balanced investment approach, considering cash flow, tax savings, appreciation, and principal paydown. They warn that relying solely on revenue can lead to overpaying and financial difficulties if the market shifts. The hosts share their experiences and emphasize the vital role of property appraisals in making sound investment decisions. They highlight the resilience of tourism markets in affected areas as potential investment opportunities. The episode concludes with advice on how to navigate revenue volatility and highlights the importance of having a solid investment strategy. The hosts encourage listeners to be honest with themselves about their capabilities and to rely on trusted data sources like AirDNA and STR Insights. They sign off by reminding investors to make informed decisions and prepare for both market opportunities and setbacks. https://www.marketmystr.com/ 00:00 Introduction: Challenges in Short Term Rentals 00:26 Welcome to STRonomics 00:28 Market My STR: The Ultimate Marketing Platform 01:26 Discussion: Buying and Selling Short Term Rentals 02:46 Real Estate Valuation and Investment Strategies 08:34 Impact of External Events on Investments 15:48 Conclusion and Final Thoughts We handle the day-to-day tasks of your short-term rental, giving you the freedom to grow your business and focus on the things that matter most. In the dynamic landscape of short-term rentals, success lies in the details. At STR Super VAs, we bring expertise to every facet of your business, ensuring those details are meticulously managed. Click here to learn more about how you can integrate VAs into your business! https://www.strvas.com/ Watch this podcast each Thursday on our YouTube Channel: https://www.youtube.com/channel/UCnheh3vx0hT5Y7uHWhBs8kA STR Data Hosts Facebook Page Instagram: Kenny_Bedwell You can find more of Bill online at: Bill Faeth Linktree: https://linktr.ee/bfaeth?utm_source=linktree_profile_share<sid=660cbc9b-4a7e-4ed9-a654-900180b83af1 Build STR Wealth: https://buildstrwealth.com/ Instagram: @BillFaeth73 Tik Tok: @bfaeth Learn more about your ad choices. Visit megaphone.fm/adchoices

We handle the day-to-day tasks of your short-term rental, giving you the freedom to grow your business and focus on the things that matter most. In the dynamic landscape of short-term rentals, success lies in the details. At STR Super VAs, we bring expertise to every facet of your business, ensuring those details are meticulously managed. Click here to learn more about how you can integrate VAs into your business! https://www.strvas.com/ Watch this podcast each Thursday on our YouTube Channel: https://www.youtube.com/channel/UCnheh3vx0hT5Y7uHWhBs8kA STR Data Hosts Facebook Page Instagram: Kenny_Bedwell You can find more of Bill online at: Bill Faeth Linktree: https://linktr.ee/bfaeth?utm_source=linktree_profile_share<sid=660cbc9b-4a7e-4ed9-a654-900180b83af1 Build STR Wealth: https://buildstrwealth.com/ Instagram: @BillFaeth73 Tik Tok: @bfaeth Learn more about your ad choices. Visit megaphone.fm/adchoices

On today's episode Bill and Kenny sit to with their Mastermind in Florida and answer some questions about the industry. You don't want to miss it! Contact Tyler Coon and his team to get your next Short-Term Rental property under contract! Our podcast Is doing a survey to get to know our listeners more! Use this link to fill out the survey! You can find Bill online at: https://www.facebook.com/groups/284886002732508 - The Free Build STR Wealth Facebook Group Build STR Wealth BK Hot Picks STR UNFILTERED Instagram: @BillFaeth73 Tik Tok: @bfaeth You can find Kenny online at: https://strinsights.com/ Instagram: @strinsights Learn more about your ad choices. Visit megaphone.fm/adchoices

This episode of STRonomics is proudly sponsored by MarketMySTR.com, the leading marketing platform for STR Industries. In this episode of STRonomics, hosts Bill Faeth and Kenny Bedwell delve into the complexities of investing in short term rentals given the current challenges of increasing regulation, market saturation, and rising interest rates. They provide insights on staying ahead of investment trends and offer practical advice for both new and seasoned investors, including the importance of understanding financing options, the significance of properly budgeting for property acquisition and preparation, and strategic considerations for property selection based on personal financial situations. The episode also highlights the role of Market My STR, a comprehensive marketing platform aimed at simplifying and boosting the marketing efforts of short term rental hosts. Throughout the discussion, the hosts emphasize the need for thorough preparation, from financing to property selection, in order to achieve success in the short term rental market. 00:00 Welcome to STRonomics: Navigating the Short Term Rental Market 00:28 Introducing Market My STR: Your All-in-One Marketing Solution 01:26 The First Steps in Short Term Rental Investment: Expert Advice 01:45 Understanding Lending Options: A Deep Dive with Industry Insiders 07:08 The Importance of Knowing Your Financing Options Before Investing 12:26 Owner Financing and DSCR: Navigating Property Ownership 23:21 Final Thoughts and Subscribe for More Insights We handle the day-to-day tasks of your short-term rental, giving you the freedom to grow your business and focus on the things that matter most. In the dynamic landscape of short-term rentals, success lies in the details. At STR Super VAs, we bring expertise to every facet of your business, ensuring those details are meticulously managed. Click here to learn more about how you can integrate VAs into your business! https://www.strvas.com/ Watch this podcast each Thursday on our YouTube Channel: https://www.youtube.com/channel/UCnheh3vx0hT5Y7uHWhBs8kA STR Data Hosts Facebook Page Instagram: Kenny_Bedwell You can find more of Bill online at: Bill Faeth Linktree: https://linktr.ee/bfaeth?utm_source=linktree_profile_share<sid=660cbc9b-4a7e-4ed9-a654-900180b83af1 Build STR Wealth: https://buildstrwealth.com/ Instagram: @BillFaeth73 Tik Tok: @bfaeth Learn more about your ad choices. Visit megaphone.fm/adchoices

Welcome to STRonomics! Today Bill and Kenny sit down to tackle the question that's on everyone's mind, is the STR gold rush over? You don't want to miss it! Contact Tyler Coon and his team to get your next Short-Term Rental property under contract! You can find Bill online at: https://www.facebook.com/groups/284886002732508 - The Free Build STR Wealth Facebook Group Build STR Wealth BK Hot Picks STR UNFILTERED Instagram: @BillFaeth73 Tik Tok: @bfaeth You can find Kenny online at: https://strinsights.com/ Instagram: @strinsights Learn more about your ad choices. Visit megaphone.fm/adchoices

This episode of STRonomics is proudly sponsored by MarketMySTR.com, the leading marketing platform for STR Industries. In the latest installment of STRonomics, Kenny takes the reins as Bill is away, and delves into the four crucial keys for achieving success with short-term rentals. First and foremost, Kenny emphasizes the paramount importance of the property's location. It's not merely about the city; proximity to popular attractions can be a game-changer, significantly influencing the rental's desirability. Next, he highlights the significance of impeccable interior and exterior design. While interior modifications can be transformative, neglecting the curb appeal of the exterior can adversely affect the rental's chances of success. Furthermore, Kenny stresses the value of crafting an exceptional interior design that aligns with the preferences of the target clientele. Meeting their expectations and desires can lead to increased bookings and satisfied guests. He also underscores the value of adding amenities to the property when necessary, enhancing its overall appeal. Lastly, the episode concludes with Kenny advocating thorough market research before diving into the business. Analyzing competitors and understanding the required investments in design, location, and exterior upgrades are vital steps towards becoming the best in the area. Tune in to this episode of STRonomics to discover the secrets to prosperous short-term rentals. [00:03] Introducing STRonomics {01:33] Markets Down [03:17] First Key: Location [05:45] The Smokies [07:45] Mountain Market Story [09:50] Second Key: Interior & Exterior Quality [12:15] Third Key: Design & Decor [13:40] ROI on Decor [16:27] Fourth Key: Value Adds [17:13] Kentucky Property [17:43] Swimming Pool [21:56] Strategy [23:34] Studying A Market [26:10] Wrapping Up Watch this podcast each Thursday on our YouTube Channel: https://www.youtube.com/channel/UCnheh3vx0hT5Y7uHWhBs8kA STR Data Hosts Facebook Page Instagram: Kenny_Bedwell You can find more of Bill online at: Bill Faeth Linktree: https://linktr.ee/bfaeth?utm_source=linktree_profile_share<sid=660cbc9b-4a7e-4ed9-a654-900180b83af1 Build STR Wealth: https://buildstrwealth.com/ Instagram: @BillFaeth73 Tik Tok: @bfaeth Learn more about your ad choices. Visit megaphone.fm/adchoices

Bill Faeth and Kenny Bedwell challenge the belief that making $500,000 in gross revenue from a single short-term rental is impossible. They discuss key strategies, such as selecting the right market, creating unique guest experiences, and ensuring high-quality amenities, that can help investors maximize their returns. Real-life examples from various properties, including those in Wisconsin, Vermont, and the Outer Banks, illustrate how innovative approaches and market knowledge can drive success in this competitive industry. Additionally, the hosts emphasize the importance of thinking about exit strategies and potential appreciation when investing in high-value properties. 00:00 Introduction: The Challenges Facing Short-Term Rentals 00:26 Welcome to STRonomics 00:28 Market My STR: The Ultimate Marketing Platform 01:35 Can You Make $500,000 on One Short-Term Rental? 02:46 Real-Life Success Stories and Strategies 05:45 The Importance of Market Selection 18:52 Creating Unique Guest Experiences 21:38 Conclusion: Key Takeaways and Final Thoughts We handle the day-to-day tasks of your short-term rental, giving you the freedom to grow your business and focus on the things that matter most. In the dynamic landscape of short-term rentals, success lies in the details. At STR Super VAs, we bring expertise to every facet of your business, ensuring those details are meticulously managed. Click here to learn more about how you can integrate VAs into your business! https://www.strvas.com/ Watch this podcast each Thursday on our YouTube Channel: https://www.youtube.com/channel/UCnheh3vx0hT5Y7uHWhBs8kA STR Data Hosts Facebook Page Instagram: Kenny_Bedwell You can find more of Bill online at: Bill Faeth Linktree: https://linktr.ee/bfaeth?utm_source=linktree_profile_share<sid=660cbc9b-4a7e-4ed9-a654-900180b83af1 Build STR Wealth: https://buildstrwealth.com/ Instagram: @BillFaeth73 Tik Tok: @bfaeth Learn more about your ad choices. Visit megaphone.fm/adchoices

On today's episode Bill and Kenny sit down to discuss whether or not they're investing right now in today's market. You don't want to miss it! Contact Tyler Coon and his team to get your next Short-Term Rental property under contract! You can find Bill online at: https://www.facebook.com/groups/284886002732508 - The Free Build STR Wealth Facebook Group Build STR Wealth BK Hot Picks STR UNFILTERED Instagram: @BillFaeth73 Tik Tok: @bfaeth You can find Kenny online at: https://strinsights.com/ Instagram: @strinsights Learn more about your ad choices. Visit megaphone.fm/adchoices

This episode is Sponsored by MarketMySTR.com the STR Industries #1 marketing platform. We handle the day-to-day tasks of your short-term rental, giving you the freedom to grow your business and focus on the things that matter most. In the dynamic landscape of short-term rentals, success lies in the details. At STR Super VAs, we bring expertise to every facet of your business, ensuring those details are meticulously managed. Click here to learn more about how you can integrate VAs into your business! https://www.strvas.com/ Watch this podcast each Thursday on our YouTube Channel: https://www.youtube.com/channel/UCnheh3vx0hT5Y7uHWhBs8kA STR Data Hosts Facebook Page Instagram: Kenny_Bedwell You can find more of Bill online at: Bill Faeth Linktree: https://linktr.ee/bfaeth?utm_source=linktree_profile_share<sid=660cbc9b-4a7e-4ed9-a654-900180b83af1 Build STR Wealth: https://buildstrwealth.com/ Instagram: @BillFaeth73 Tik Tok: @bfaeth Learn more about your ad choices. Visit megaphone.fm/adchoices

This episode is Sponsored by MarketMySTR.com the STR Industries #1 marketing platform. Bill and Kenny discuss how to increase revenue on your properties while also saving money with every single facet of your business! They talk everything from asking guests for feedback to prebuying your propane. You won’t want to miss this episode! [00:03] Introducing STRonomics [01:40] Low Cost Revenue Drivers [02:25] Updating Your Photos [03:30] Insurance Coverage [07:35] Pre Buying Propane [09:00] Saving with Changed Services [10:15] Reordering Your Listing Images [13:00] Getting Guests Off Platform [14:22] Showing The Value in Photos [15:15] Kenny’s Direct Booking Search [17:10] Asking Guests for Feedback [19:20] MarketMySTR.com [20:25] Getting Reviews on Google/Facebook [22:12] StayFi For Capturing Emails [23:00] Paying to Be Ranked {24:14] Closing Remarks Learn the strategies and secrets you need in this one-day virtual event to increase bookings without having to simply drop your prices! Click Here for more info > Maximizing Revenue Event Sign up before it's too late! Watch this podcast each Thursday on our Youtube Channel: https://www.youtube.com/channel/UCnheh3vx0hT5Y7uHWhBs8kA STR Data Hosts Facebook Page Instagram: Kenny_Bedwell You can find more of Bill online at: Bill Faeth Linktree: https://linktr.ee/bfaeth?utm_source=linktree_profile_share<sid=660cbc9b-4a7e-4ed9-a654-900180b83af1 Build STR Wealth: https://buildstrwealth.com/ Instagram: @BillFaeth73 Tik Tok: @bfaeth Learn more about your ad choices. Visit megaphone.fm/adchoices

This episode of STRonomics is proudly sponsored by MarketMySTR.com, the leading marketing platform for STR Industries. In this episode, industry experts Bill Faeth and Kenny Bedwell discuss strategies to stay ahead in the short-term rental market amid increasing regulations, market saturation, and rising interest rates. They share insights on investment trends, marketing tools and platform 'Market My STR'. They also discuss factors that impact Airbnb rankings, emphasizing the importance of listing optimization, dynamic pricing, gathering positive reviews and unique property features. Additionally, they highlight the potential of amenities and services like handicap-accessibility and pet-friendliness to boost rankings and conversion rates, despite these being often overlooked. 00:00 Introduction to Short Term Rentals 00:28 The Power of Marketing in Short Term Rentals 00:55 The Importance of Communication Tools in Short Term Rentals 01:12 The Role of Marketing Platforms in Boosting Your Business 01:26 The Art of Podcasting in Short Term Rentals 01:43 The Secret to Ranking in 2024 02:20 The Impact of Pricing, Listing Optimization, and Amenities on Ranking 03:23 The Power of Reviews in Ranking 05:17 The Importance of Photos in Ranking 08:06 The Role of Amenities in Ranking 15:17 The Impact of Cancellation Policies and Pricing on Ranking 19:57 The Importance of Unique Value Propositions in Ranking 22:46 Conclusion: The Key Elements to Ranking in Short Term Rentals We handle the day-to-day tasks of your short-term rental, giving you the freedom to grow your business and focus on the things that matter most. In the dynamic landscape of short-term rentals, success lies in the details. At STR Super VAs, we bring expertise to every facet of your business, ensuring those details are meticulously managed. Click here to learn more about how you can integrate VAs into your business! https://www.strvas.com/ Watch this podcast each Thursday on our YouTube Channel: https://www.youtube.com/channel/UCnheh3vx0hT5Y7uHWhBs8kA STR Data Hosts Facebook Page Instagram: Kenny_Bedwell You can find more of Bill online at: Bill Faeth Linktree: https://linktr.ee/bfaeth?utm_source=linktree_profile_share<sid=660cbc9b-4a7e-4ed9-a654-900180b83af1 Build STR Wealth: https://buildstrwealth.com/ Instagram: @BillFaeth73 Tik Tok: @bfaeth Learn more about your ad choices. Visit megaphone.fm/adchoices

Bill and Kenny discuss investment strategies for 2025, starting with a critical evaluation of Asheville, North Carolina. The experts suggest that the market is becoming overly competitive, requiring significant investment to stay ahead. They stress the importance of niche markets and unique amenities to stand out. Kenny shares a unique investment idea involving swingers' retreats and discusses the performance of such niches in various locations. They explore the balance between budget and necessary amenities, citing the need for substantial investments in property improvements. Bill and Kenny highlight early market entry as crucial for long-term success and suggest avoiding markets saturated with high competition and extensive amenities. They recommend focusing on emerging markets with potential for unique property features. Three markets are identified as promising for 2025: Keystone, South Dakota; Berkeley Springs, West Virginia; and Bar Harbor, Maine. Each market has specific advantages and budget considerations. They conclude by emphasizing the need to stay informed and adapt strategies to evolving market conditions. The episode wraps up with a teaser on an upcoming annual report and encourages listeners to subscribe for more insights. https://www.marketmystr.com/ 00:00 Introduction to STRonomics 00:28 Market My STR: The Ultimate Marketing Platform 01:26 Where to Invest in 2025: Expert Insights 03:02 The Importance of Niches in Short Term Rentals 05:06 Investing Strategies and Market Analysis 10:41 Top Markets to Watch in 2025 19:04 Conclusion and Final Thoughts We handle the day-to-day tasks of your short-term rental, giving you the freedom to grow your business and focus on the things that matter most. In the dynamic landscape of short-term rentals, success lies in the details. At STR Super VAs, we bring expertise to every facet of your business, ensuring those details are meticulously managed. Click here to learn more about how you can integrate VAs into your business! https://www.strvas.com/ Watch this podcast each Thursday on our YouTube Channel: https://www.youtube.com/channel/UCnheh3vx0hT5Y7uHWhBs8kA STR Data Hosts Facebook Page Instagram: Kenny_Bedwell You can find more of Bill online at: Bill Faeth Linktree: https://linktr.ee/bfaeth?utm_source=linktree_profile_share<sid=660cbc9b-4a7e-4ed9-a654-900180b83af1 Build STR Wealth: https://buildstrwealth.com/ Instagram: @BillFaeth73 Tik Tok: @bfaeth Learn more about your ad choices. Visit megaphone.fm/adchoices

On today's episode Bill and Kenny sit down to discuss the importance of valuing amenities when buying a new property. You don't want to miss it! Contact Tyler Coon and his team to get your next Short-Term Rental property under contract! You can find Bill online at: https://www.facebook.com/groups/284886002732508 - The Free Build STR Wealth Facebook Group Build STR Wealth BK Hot Picks STR UNFILTERED Instagram: @BillFaeth73 Tik Tok: @bfaeth You can find Kenny online at: https://strinsights.com/ Instagram: @strinsights Learn more about your ad choices. Visit megaphone.fm/adchoices

On today's episode Bill and Kenny sit down to discuss what the best markets to buy into right now are. You don't want to miss it! Contact Tyler Coon and his team to get your next Short-Term Rental property under contract! You can find Bill online at: https://www.facebook.com/groups/284886002732508 - The Free Build STR Wealth Facebook Group Build STR Wealth BK Hot Picks STR UNFILTERED Instagram: @BillFaeth73 Tik Tok: @bfaeth You can find Kenny online at: https://strinsights.com/ Instagram: @strinsights Learn more about your ad choices. Visit megaphone.fm/adchoices

This episode of STRonomics is proudly sponsored by MarketMySTR.com, the leading marketing platform for STR Industries. In this episode of STRonomics, Bill Faeth and Kenny Bedwell discuss the role of real estate agents in the short-term rental property market. They argue that while agents can provide valuable services such as drawing up contracts and giving insights on concessions, potential investors cannot rely solely on agents' revenue projections. This is because the successful hosting of a property depends on a host's skills, strategies, and personal goals, all of which an agent cannot fully grasp. Investors are therefore advised to make their own assessments of prospective properties using reputable data sources. Bill and Kenny also emphasize the significance of agents having their own experience owning short-term rentals since they would better understand the investor's perspective. 00:00 Introduction and Topic Presentation 00:43 The Role of Real Estate Agents in Property Investment 01:56 The Importance of Doing Your Own Research 02:21 Revisiting the Topic: Trusting Your Agent 02:57 The Limitations of Relying on Agents 03:41 The Importance of Agents Owning Short Term Rentals 03:51 Red Flags to Look Out for in Agents 04:18 The Importance of Due Diligence in Property Investment 05:58 The Role of Experience and Data in Property Investment 07:06 The Importance of Understanding Your Own Hosting Skills 07:55 The Risks of Relying on Set Numbers in Property Investment 16:24 The Importance of Reevaluating Your Investments 16:45 Conclusion: Trusting Agents and Doing Your Own Due Diligence We handle the day-to-day tasks of your short-term rental, giving you the freedom to grow your business and focus on the things that matter most. In the dynamic landscape of short-term rentals, success lies in the details. At STR Super VAs, we bring expertise to every facet of your business, ensuring those details are meticulously managed. Click here to learn more about how you can integrate VAs into your business! https://www.strvas.com/ Watch this podcast each Thursday on our YouTube Channel: https://www.youtube.com/channel/UCnheh3vx0hT5Y7uHWhBs8kA STR Data Hosts Facebook Page Instagram: Kenny_Bedwell You can find more of Bill online at: Bill Faeth Linktree: https://linktr.ee/bfaeth?utm_source=linktree_profile_share<sid=660cbc9b-4a7e-4ed9-a654-900180b83af1 Build STR Wealth: https://buildstrwealth.com/ Instagram: @BillFaeth73 Tik Tok: @bfaeth Learn more about your ad choices. Visit megaphone.fm/adchoices

On this STRonomics, Bill & Kenny take a closer look at the real value of reviews and how detrimental they are to boosting your ratings and getting your STR booked more frequently. Here are their key takeaways: [0:01] Introduction [0:33] Kenny’s Research [1:52] The Number of Reviews [3:45] Calculating Your Nights [5:30] Greatest Tips to Get More Reviews [12:25] Be on Top of the Search [13:52] Ghost Reviews [16:42] What has More Impact on Revenu? [22:07] Closing Wrap Up Watch this podcast each Thursday on our Youtube Channel: https://www.youtube.com/channel/UCnheh3vx0hT5Y7uHWhBs8kA You can find more of Bill online at: Bill Faeth Linktree: https://linktr.ee/bfaeth?utm_source=linktree_profile_share<sid=660cbc9b-4a7e-4ed9-a654-900180b83af1 The Free Build STR Wealth Facebook Group: https://www.facebook.com/groups/284886002732508 Build STR Wealth: https://buildstrwealth.com/ BK Hot Picks: https://bkhotpicks.com/ Instagram: @BillFaeth73 Tik Tok: @bfaeth Learn more about your ad choices. Visit megaphone.fm/adchoices

On today's episode Bill and Kenny sit dive deep into the data to see what amenities can help your property generate more revenue. You don't want to miss it! Contact Tyler Coon and his team to get your next Short-Term Rental property under contract! You can find Bill online at: https://www.facebook.com/groups/284886002732508 - The Free Build STR Wealth Facebook Group Build STR Wealth BK Hot Picks STR UNFILTERED Instagram: @BillFaeth73 Tik Tok: @bfaeth You can find Kenny online at: https://strinsights.com/ Instagram: @strinsights Learn more about your ad choices. Visit megaphone.fm/adchoices

On today's episode Bill and Kenny sit down to discuss their six month outlook on the STR Industry. You don't want to miss it! Contact Tyler Coon and his team to get your next Short-Term Rental property under contract! You can find Bill online at: https://www.facebook.com/groups/284886002732508 - The Free Build STR Wealth Facebook Group Build STR Wealth BK Hot Picks STR UNFILTERED Instagram: @BillFaeth73 Tik Tok: @bfaeth You can find Kenny online at: https://strinsights.com/ Instagram: @strinsights Learn more about your ad choices. Visit megaphone.fm/adchoices

Bill Faeth and Kenny Bedwell delve into the complexities of investing in short-term rentals amidst increasing regulation, market saturation, and rising interest rates. They discuss the merits and drawbacks of investing in large versus small properties and emphasize the importance of finding the right balance based on individual goals and risk tolerances. The episode touches on the significance of market analysis, the potential of untapped markets, appreciation, and cash flow. Additionally, they advocate for customized investment strategies rather than following industry trends. This episode of STRonomics is proudly sponsored by MarketMySTR.com, the leading marketing platform for STR Industries. 00:00 Introduction to STRonomics 00:28 Market My STR: The Ultimate Marketing Platform 01:26 Diving into Property Investment Strategies 02:13 Big vs. Small Properties: What to Consider 04:58 The Importance of Market and Property Analysis 10:04 Finding Niche Markets and Avoiding the Herd Mentality 14:59 Conclusion and Final Thoughts We handle the day-to-day tasks of your short-term rental, giving you the freedom to grow your business and focus on the things that matter most. In the dynamic landscape of short-term rentals, success lies in the details. At STR Super VAs, we bring expertise to every facet of your business, ensuring those details are meticulously managed. Click here to learn more about how you can integrate VAs into your business! https://www.strvas.com/ Watch this podcast each Thursday on our YouTube Channel: https://www.youtube.com/channel/UCnheh3vx0hT5Y7uHWhBs8kA STR Data Hosts Facebook Page Instagram: Kenny_Bedwell You can find more of Bill online at: Bill Faeth Linktree: https://linktr.ee/bfaeth?utm_source=linktree_profile_share<sid=660cbc9b-4a7e-4ed9-a654-900180b83af1 Build STR Wealth: https://buildstrwealth.com/ Instagram: @BillFaeth73 Tik Tok: @bfaeth Learn more about your ad choices. Visit megaphone.fm/adchoices

Welcome to another episode of STRonomics, where Kenny Bedwell joins forces with Bill Faeth to bring you the latest insights from the ever-evolving world of short-term rentals. Join the conversation as they dive into the perks of being a Superhost on Airbnb and uncover the benefits it brings. Discover the nuances between direct bookings and Airbnb/Vrbo bookings, and learn how to strategically market your STR by analyzing your property and understanding your demographics. Plus, find out how to leverage your Superhost status to drive more traffic to your business. Don't miss out on this must-listen episode! Tune in now and stay ahead in the STR game. Watch this podcast each Thursday on our Youtube Channel: https://www.youtube.com/channel/UCnheh3vx0hT5Y7uHWhBs8kA Exclusive Pricelabs Offer Here! Use code BILL25 & get 25% off for the first 3 months (offer valid for new users only) Take the next step towards growing your vacation rental business by enrolling in the STR Host Academy! With our comprehensive training, you’ll get the tools you need to increase your profits, attract new guests, and dominate your competition with marketing. Don’t wait any longer to start seeing results. Enroll in the STR Host Academy today! https://www.strhostacademy.com/hostacademy You can find more of Bill online at: Bill Faeth Linktree: https://linktr.ee/bfaeth?utm_source=linktree_profile_share<sid=660cbc9b-4a7e-4ed9-a654-900180b83af1 The Free Build STR Wealth Facebook Group: https://www.facebook.com/groups/284886002732508 Build STR Wealth: https://buildstrwealth.com/ BK Hot Picks: https://bkhotpicks.com/ Instagram: @BillFaeth73 Tik Tok: @bfaeth Learn more about your ad choices. Visit megaphone.fm/adchoices

On today's episode Bill and Kenny sit to discuss what the best amenities are for your property in 2023. You don't want to miss it! Contact Tyler Coon and his team to get your next Short-Term Rental property under contract! Report: https://www.strinsights.com/top-markets-report-2023 Our podcast Is doing a survey to get to know our listeners more! Use this link to fill out the survey! You can find Bill online at: https://www.facebook.com/groups/284886002732508 - The Free Build STR Wealth Facebook Group Build STR Wealth BK Hot Picks STR UNFILTERED Instagram: @BillFaeth73 Tik Tok: @bfaeth You can find Kenny online at: https://strinsights.com/ Instagram: @strinsights Learn more about your ad choices. Visit megaphone.fm/adchoices

This episode is Sponsored by MarketMySTR.com the STR Industries #1 marketing platform. Watch this podcast each Thursday on our YouTube Channel: https://www.youtube.com/channel/UCnheh3vx0hT5Y7uHWhBs8kA STR Data Hosts Facebook Page Instagram: Kenny_Bedwell You can find more of Bill online at: Bill Faeth Linktree: https://linktr.ee/bfaeth?utm_source=linktree_profile_share<sid=660cbc9b-4a7e-4ed9-a654-900180b83af1 Build STR Wealth: https://buildstrwealth.com/ Instagram: @BillFaeth73 Tik Tok: @bfaeth Learn more about your ad choices. Visit megaphone.fm/adchoices

This episode of STRonomics is proudly sponsored by MarketMySTR.com, the leading marketing platform for STR Industries. In this episode of STRonomics, hosts Bill Faeth and Kenny Bedwell explore effective investment strategies for short-term rental hosts amidst the challenges of increased regulation, market saturation, and rising interest rates. The discussion covers the importance of dynamic pricing, understanding property value within the market, and strategically managing minimum night stays to boost booking rates and revenue. Insights from their experiences and tips for maximizing occupancy and profit, especially during the off-peak seasons, are shared. 00:00 Navigating the Complex World of Short-Term Rentals 00:28 Introducing Market My STR: The Ultimate Marketing Platform 01:36 Deep Dive into Pricing Strategies for Short-Term Rentals 04:46 Understanding Property Types and Their Impact on Pricing 13:47 The Importance of Tracking and Adjusting Your Pricing Strategy 19:58 Exploring Minimum Night Stays and Their Effect on Bookings 25:46 Tailoring Pricing Strategies to Individual Properties 27:27 Closing Thoughts and Contact Information We handle the day-to-day tasks of your short-term rental, giving you the freedom to grow your business and focus on the things that matter most. In the dynamic landscape of short-term rentals, success lies in the details. At STR Super VAs, we bring expertise to every facet of your business, ensuring those details are meticulously managed. Click here to learn more about how you can integrate VAs into your business! https://www.strvas.com/ Watch this podcast each Thursday on our YouTube Channel: https://www.youtube.com/channel/UCnheh3vx0hT5Y7uHWhBs8kA STR Data Hosts Facebook Page Instagram: Kenny_Bedwell You can find more of Bill online at: Bill Faeth Linktree: https://linktr.ee/bfaeth?utm_source=linktree_profile_share<sid=660cbc9b-4a7e-4ed9-a654-900180b83af1 Build STR Wealth: https://buildstrwealth.com/ Instagram: @BillFaeth73 Tik Tok: @bfaeth Learn more about your ad choices. Visit megaphone.fm/adchoices

Bill and Kenny tackle the challenges facing short-term rentals, including increasing regulations, market saturation, and rising interest rates. They emphasize the importance of hiring a professional revenue manager to navigate these challenges and provide insights into dynamic pricing strategies. The discussion highlights the inefficacy of DIY revenue management for both newbies and seasoned hosts, stressing the need for expertise to maximize earnings. Key points include the benefits of outsourcing revenue management, how to select qualified professionals, and the significance of remaining competitive in the evolving market. Additionally, the episode touches on the psychological barriers hosts face when considering the cost of hiring a revenue manager and offers practical advice on overcoming these hurdles for better financial returns. https://go.buildstrwealth.com/tour 00:00 Introduction to STRonomics 01:26 Welcome to STRonomics 01:33 The Importance of Revenue Management 03:42 Hiring a Revenue Manager: Why and How 05:39 Challenges and Solutions in Revenue Management 16:56 Finding the Right Revenue Manager 22:40 Conclusion and Final Thoughts We handle the day-to-day tasks of your short-term rental, giving you the freedom to grow your business and focus on the things that matter most. In the dynamic landscape of short-term rentals, success lies in the details. At STR Super VAs, we bring expertise to every facet of your business, ensuring those details are meticulously managed. Click here to learn more about how you can integrate VAs into your business! https://www.strvas.com/ Watch this podcast each Thursday on our YouTube Channel: https://www.youtube.com/channel/UCnheh3vx0hT5Y7uHWhBs8kA STR Data Hosts Facebook Page Instagram: Kenny_Bedwell You can find more of Bill online at: Bill Faeth Linktree: https://linktr.ee/bfaeth?utm_source=linktree_profile_share<sid=660cbc9b-4a7e-4ed9-a654-900180b83af1 Build STR Wealth: https://buildstrwealth.com/ Instagram: @BillFaeth73 Tik Tok: @bfaeth Learn more about your ad choices. Visit megaphone.fm/adchoices

On today's episode Bill and Kenny sit down to discuss the most important data points you should be looking at when it comes to investing. You don't want to miss it! Contact Tyler Coon and his team to get your next Short-Term Rental property under contract! You can find Bill online at: https://www.facebook.com/groups/284886002732508 - The Free Build STR Wealth Facebook Group Build STR Wealth BK Hot Picks STR UNFILTERED Instagram: @BillFaeth73 Tik Tok: @bfaeth You can find Kenny online at: https://strinsights.com/ Instagram: @strinsights Learn more about your ad choices. Visit megaphone.fm/adchoices

Bill Faeth and Kenny Bedwell dive into the evolving landscape of short-term rentals (STRs), discussing the impact of increasing regulations, market saturation, and rising interest rates on investing strategies. They explore the importance of staying ahead by identifying trends and leveraging insights to optimize investments. The episode features a broader discussion on investment strategies, highlighting the shift from a buy-and-hold mentality to more dynamic approaches, emphasizing the need for investors to adapt their strategies in response to market changes for sustainable success. The hosts also discuss the critical roles of revenue management, marketing, design, and underwriting in achieving profitability and growth in the STR market. They stress the necessity of treating short-term rental investments as a business, utilizing technology, and possibly outsourcing specialized tasks to navigate the competitive and maturing landscape of the industry successfully. This episode of STRonomics is proudly sponsored by MarketMySTR.com, the leading marketing platform for STR Industries. 00:00 Welcome to STRonomics: Navigating the Future of Short Term Rentals 00:28 Introducing Market My STR: Your All-in-One Marketing Solution 01:26 Diving Deep into the Future of Short Term Rentals 01:34 Investment Strategies and Market Insights for STR Owners 07:50 The Importance of Revenue Management and Marketing in STR Success 17:55 Embracing Technology and AI for Future STR Growth 20:48 Concluding Thoughts on the Bright Future of STRs We handle the day-to-day tasks of your short-term rental, giving you the freedom to grow your business and focus on the things that matter most. In the dynamic landscape of short-term rentals, success lies in the details. At STR Super VAs, we bring expertise to every facet of your business, ensuring those details are meticulously managed. Click here to learn more about how you can integrate VAs into your business! https://www.strvas.com/ Watch this podcast each Thursday on our YouTube Channel: https://www.youtube.com/channel/UCnheh3vx0hT5Y7uHWhBs8kA STR Data Hosts Facebook Page Instagram: Kenny_Bedwell You can find more of Bill online at: Bill Faeth Linktree: https://linktr.ee/bfaeth?utm_source=linktree_profile_share<sid=660cbc9b-4a7e-4ed9-a654-900180b83af1 Build STR Wealth: https://buildstrwealth.com/ Instagram: @BillFaeth73 Tik Tok: @bfaeth Learn more about your ad choices. Visit megaphone.fm/adchoices

This episode is Sponsored by MarketMySTR.com the STR Industries #1 marketing platform. In the latest episode of STRonomics, Bill and Kenny address the trending topic #AirbnbBust and analyze whether there's any cause for concern. They focus on middle properties, not quite Super Properties, which are experiencing similar challenges to mid-tier businesses in America. They reveal compelling statistics on three-bedroom, two-bath properties and how a single adjustment can significantly boost bookings. New investors receive invaluable advice on understanding guest travel habits for a successful venture. This jam-packed episode is a must-watch for anyone interested in the short-term rental market, with insightful analysis and actionable insights from Bill and Kenny. Don't miss out! Tune in now! [00:03] Introducing STRonomics {00:38] Fear Mongering [02:25] Is It Dead? Or Corrected? [03:24] Cryptocurrency [04:43] The Middle Squeeze [06:00] Smooth Revenue Appreciation [09:15] Treat Like A Business [10:35] Airbnb Bust? [12:20] The Three Twos [16:40] How Is A Market Saturated? [22:25] New Investors [25:10] Audit of Financials [27:40] In Closing Watch this podcast each Thursday on our YouTube Channel: https://www.youtube.com/channel/UCnheh3vx0hT5Y7uHWhBs8kA STR Data Hosts Facebook Page Instagram: Kenny_Bedwell You can find more of Bill online at: Bill Faeth Linktree: https://linktr.ee/bfaeth?utm_source=linktree_profile_share<sid=660cbc9b-4a7e-4ed9-a654-900180b83af1 Build STR Wealth: https://buildstrwealth.com/ Instagram: @BillFaeth73 Tik Tok: @bfaeth Learn more about your ad choices. Visit megaphone.fm/adchoices

On today's episode Bill and Kenny break down the 3 biggest STR investment strategies that no one is talking about. You don't want to miss it! Contact Tyler Coon and his team to get your next Short-Term Rental property under contract! You can find Bill online at: https://www.facebook.com/groups/284886002732508 - The Free Build STR Wealth Facebook Group Build STR Wealth BK Hot Picks STR UNFILTERED Instagram: @BillFaeth73 Tik Tok: @bfaeth You can find Kenny online at: https://strinsights.com/ Instagram: @strinsights Learn more about your ad choices. Visit megaphone.fm/adchoices

This episode is Sponsored by MarketMySTR.com the STR Industries #1 marketing platform. On STRonomics this week Kenny & Bill talk about the value of high-quality photos and staging and how it directly correlates to increases in revenue. They discuss the importance of marketing your amenities correctly and the data behind poorly taken photos. If you are losing money this summer, this episode is for you! [00:03] Introducing STRonomics [00:45] Losing 3K a Month [02:08] Can You Optimize Your Listing? [03:11] Saturated Market [03:45] Financial Analysis of Property [04:50] Quality of Your Images [07:16] Calculating the Value of Amenities [10:49] Photo Impact on Revenue [14:35] Visualizing Marketing for Your Property [15:00] Getting the BEST Photographer [16:15] Educate Your Photographer [19:13] How Do I Stand Out? [20:32] Closing Remarks Watch this podcast each Thursday on our YouTube Channel: https://www.youtube.com/channel/UCnheh3vx0hT5Y7uHWhBs8kA STR Data Hosts Facebook Page Instagram: Kenny_Bedwell You can find more of Bill online at: Bill Faeth Linktree: https://linktr.ee/bfaeth?utm_source=linktree_profile_share<sid=660cbc9b-4a7e-4ed9-a654-900180b83af1 Build STR Wealth: https://buildstrwealth.com/ Instagram: @BillFaeth73 Tik Tok: @bfaeth Learn more about your ad choices. Visit megaphone.fm/adchoices

Welcome to this episode of STRonomics, where Bill Faeth and Kenny Bedwell reveal the 7 essential steps to succeed in short-term rental investing. Learn how to identify your goals and align them with your property, select the perfect market, and chose the right real estate agent. Discover the importance of banking and funding, asset and liability protection, and designing a property that stands out. Plus, we’ll share insider tips on setting up your property efficiently and gaining a competitive edge through marketing. Don’t miss this crucial episode, it's a game-changer for your STR business! Build your momentum with our 8-week Accelerator Program. It’s designed to be attended from home and includes all the amazing STR insights revealed during the STR Wealth Conference this past week and the collective decades of business experience of the STR Super Team: https://strsuperteam.com/ Watch this podcast each Thursday on our Youtube Channel: https://www.youtube.com/channel/UCnheh3vx0hT5Y7uHWhBs8kA Exclusive Pricelabs Offer Here! Use code BILL25 & get 25% off for the first 3 months (offer valid for new users only) Take the next step towards growing your vacation rental business by enrolling in the STR Host Academy! With our comprehensive training, you’ll get the tools you need to increase your profits, attract new guests, and dominate your competition with marketing. Don’t wait any longer to start seeing results. Enroll in the STR Host Academy today! https://www.strhostacademy.com/hostacademy Contact Tyler Coon and his team to get your next Short-Term Rental property under contract! You can find more of Bill online at: Bill Faeth Linktree: https://linktr.ee/bfaeth?utm_source=linktree_profile_share<sid=660cbc9b-4a7e-4ed9-a654-900180b83af1 The Free Build STR Wealth Facebook Group: https://www.facebook.com/groups/284886002732508 Build STR Wealth: https://buildstrwealth.com/ BK Hot Picks: https://bkhotpicks.com/ Instagram: @BillFaeth73 Tik Tok: @bfaeth Learn more about your ad choices. Visit megaphone.fm/adchoices

In this week’s episode of STRonomics, solo host Bill Faeth steps up to the mic as his co-host Kenny Bedwell takes the week off to celebrate exciting news. Bill discusses how to find a profitable market using gross ROI filtering and learn how to analyze occupancy and pricing to avoid common pitfalls. Gain insights into understanding expenses and managing cash flow to ensure consistent month-over-month success. Plus, find out why ranking on page one is crucial to achieving maximum bookings. Tune in now! Build your momentum with our 8-week Accelerator Program. It’s designed to be attended from home and includes all the amazing STR insights revealed during the STR Wealth Conference this past week and the collective decades of business experience of the STR Super Team: https://strsuperteam.com/ Watch this podcast each Thursday on our Youtube Channel: https://www.youtube.com/channel/UCnheh3vx0hT5Y7uHWhBs8kA Exclusive Pricelabs Offer Here! Use code BILL25 & get 25% off for the first 3 months (offer valid for new users only) Take the next step towards growing your vacation rental business by enrolling in the STR Host Academy! With our comprehensive training, you’ll get the tools you need to increase your profits, attract new guests, and dominate your competition with marketing. Don’t wait any longer to start seeing results. Enroll in the STR Host Academy today! https://www.strhostacademy.com/hostacademy You can find more of Bill online at: Bill Faeth Linktree: https://linktr.ee/bfaeth?utm_source=linktree_profile_share<sid=660cbc9b-4a7e-4ed9-a654-900180b83af1 The Free Build STR Wealth Facebook Group: https://www.facebook.com/groups/284886002732508 Build STR Wealth: https://buildstrwealth.com/ BK Hot Picks: https://bkhotpicks.com/ Instagram: @BillFaeth73 Tik Tok: @bfaeth Learn more about your ad choices. Visit megaphone.fm/adchoices

On today's episode Bill and Kenny sit down to talk about why they are no longer investing into popular vacation rental markets. You don't want to miss it! Contact Tyler Coon and his team to get your next Short-Term Rental property under contract! You can find Bill online at: https://www.facebook.com/groups/284886002732508 - The Free Build STR Wealth Facebook Group Build STR Wealth BK Hot Picks STR UNFILTERED Instagram: @BillFaeth73 Tik Tok: @bfaeth You can find Kenny online at: https://strinsights.com/ Instagram: @strinsights Learn more about your ad choices. Visit megaphone.fm/adchoices

On today's episode Bill and Kenny sit down with the one and only Tyler Coon to discuss the Top vacation rental markets to invest into today that nobody is talking about. You don't want to miss it! Contact Tyler Coon and his team to get your next Short-Term Rental property under contract! You can find Bill online at: https://www.facebook.com/groups/284886002732508 - The Free Build STR Wealth Facebook Group Build STR Wealth BK Hot Picks STR UNFILTERED Instagram: @BillFaeth73 Tik Tok: @bfaeth You can find Kenny online at: https://strinsights.com/ Instagram: @strinsights Learn more about your ad choices. Visit megaphone.fm/adchoices

This episode of STRonomics is proudly sponsored by MarketMySTR.com, the leading marketing platform for STR Industries. Link to PDF: https://www.strinsights.com/top-investable-short-term-rental-markets-2024-report In this episode of STRonomics, Kenny and Bill share details about the new 'Investable Markets PDF'. The report is a comprehensive analysis of the best markets for investment in the vacation rental industry. They discuss the methodology behind the report, which emphasizes the importance of 'investable cash'. Kenny shares details about the dynamics of each market and the potential returns for investors. The conversation ends with Kenny sharing how to access the report on the STR Insights website. 00:01 Introduction and Welcome 00:03 Discussing the Most Investable Markets PDF 00:30 Exploring the Report's Unique Approach 00:57 Understanding the Importance of Investable Cash 01:14 Unveiling Unknown Investment Markets 01:37 The Strategy Behind the Report 02:03 The Real Estate Investment Journey 02:18 The Evolution of Market Valuation 02:44 Exploring Top Picks and Surprises 03:19 Deep Dive into Beckley, West Virginia Market 06:08 The Appeal of Secondary and Tertiary Markets 08:18 Unpacking the Top 10 Markets for Different Investment Levels 15:33 Exploring the Top 10 Beach Markets 18:30 Revealing Kenny's Top 10 Picks 22:43 Conclusion and Wrap Up We handle the day-to-day tasks of your short-term rental, giving you the freedom to grow your business and focus on the things that matter most. In the dynamic landscape of short-term rentals, success lies in the details. At STR Super VAs, we bring expertise to every facet of your business, ensuring those details are meticulously managed. Click here to learn more about how you can integrate VAs into your business! https://www.strvas.com/ Watch this podcast each Thursday on our YouTube Channel: https://www.youtube.com/channel/UCnheh3vx0hT5Y7uHWhBs8kA STR Data Hosts Facebook Page Instagram: Kenny_Bedwell You can find more of Bill online at: Bill Faeth Linktree: https://linktr.ee/bfaeth?utm_source=linktree_profile_share<sid=660cbc9b-4a7e-4ed9-a654-900180b83af1 Build STR Wealth: https://buildstrwealth.com/ Instagram: @BillFaeth73 Tik Tok: @bfaeth Learn more about your ad choices. Visit megaphone.fm/adchoices

This episode of STRonomics is proudly sponsored by MarketMySTR.com, the leading marketing platform for STR Industries. In this episode of STRonomics hosts Bill Faeth and Kenny Bedwell dive deep into the challenges and strategies of balancing the demanding world of short-term rentals with personal health, family commitments, and spiritual life. They explore the importance of being proactive about time management, the benefits of integrating personal interests with business ventures, and the role of faith in maintaining a balanced life. Both hosts share their personal experiences and insights on delegating responsibilities, prioritizing tasks, and the continuous journey towards achieving a harmonious work-life balance. The conversation also covers practical tips on managing a business without sacrificing time with loved ones or personal well-being, highlighting the significance of meal planning, structured schedules, and recognizing the responsibility over circumstance. 00:00 Navigating the Short-Term Rental Market: Insights and Strategies 00:28 Introducing Market My STR: The Ultimate Marketing Platform for Hosts 01:26 Back to STR Anomics: A Deep Dive into Work-Life Balance 13:51 The Entrepreneurial Lifestyle: Balancing Business, Family, and Health 30:12 Closing Thoughts: Prioritizing for Success in Business and Life We handle the day-to-day tasks of your short-term rental, giving you the freedom to grow your business and focus on the things that matter most. In the dynamic landscape of short-term rentals, success lies in the details. At STR Super VAs, we bring expertise to every facet of your business, ensuring those details are meticulously managed. Click here to learn more about how you can integrate VAs into your business! https://www.strvas.com/ Watch this podcast each Thursday on our YouTube Channel: https://www.youtube.com/channel/UCnheh3vx0hT5Y7uHWhBs8kA STR Data Hosts Facebook Page Instagram: Kenny_Bedwell You can find more of Bill online at: Bill Faeth Linktree: https://linktr.ee/bfaeth?utm_source=linktree_profile_share<sid=660cbc9b-4a7e-4ed9-a654-900180b83af1 Build STR Wealth: https://buildstrwealth.com/ Instagram: @BillFaeth73 Tik Tok: @bfaeth Learn more about your ad choices. Visit megaphone.fm/adchoices

On today's episode Bill and Kenny sit to discuss why they hate Logan, OH for investing. You don't want to miss it! Contact Tyler Coon and his team to get your next Short-Term Rental property under contract! Our podcast Is doing a survey to get to know our listeners more! Use this link to fill out the survey! You can find Bill online at: https://www.facebook.com/groups/284886002732508 - The Free Build STR Wealth Facebook Group Build STR Wealth BK Hot Picks STR UNFILTERED Instagram: @BillFaeth73 Tik Tok: @bfaeth You can find Kenny online at: https://strinsights.com/ Instagram: @strinsights Learn more about your ad choices. Visit megaphone.fm/adchoices

This episode of STRonomics is proudly sponsored by MarketMySTR.com, the leading marketing platform for STR Industries. In this episode of STRonomics, hosts Bill Faeth and Kenny Bedwell dive into the topic of how certain property amenities, like coffee bars, murals, bikes, and air conditioning, impact rental properties' Average Daily Rate (ADR) and occupancy rates. Kenny shares insights from his experience and observations from different markets, emphasizing that while certain amenities may not directly boost ADR, they can significantly enhance occupancy rates and attract specific guest avatars, thereby indirectly increasing revenue. They also discuss the importance of understanding the return on investment for each amenity added and targeting amenities towards the property's guest avatar to ensure they enhance the guest experience effectively. Furthermore, the episode explores the concept of guest lifetime value and how unexpected, minor amenities can lead to repeat bookings. The discussions also cover various amenity ideas, from lighting and food-related amenities to unique additions like heated pools, emphasizing creative marketing and the guest perception of these features. 00:01 Welcome to STRonomics: A Unique Introduction 00:49 The Power of Amenities in Property Management 01:28 The Impact of Air Conditioning on ADR and Occupancy 08:01 Exploring the Benefits of Outdoor Lighting 13:13 Food Amenities: Enhancing Guest Experience 15:33 Maximizing ROI: When to Stop Adding Amenities 21:25 Targeting Amenities to Your Guest Avatar 25:50 Closing Thoughts and Call to Action We handle the day-to-day tasks of your short-term rental, giving you the freedom to grow your business and focus on the things that matter most. In the dynamic landscape of short-term rentals, success lies in the details. At STR Super VAs, we bring expertise to every facet of your business, ensuring those details are meticulously managed. Click here to learn more about how you can integrate VAs into your business! https://www.strvas.com/ Watch this podcast each Thursday on our YouTube Channel: https://www.youtube.com/channel/UCnheh3vx0hT5Y7uHWhBs8kA STR Data Hosts Facebook Page Instagram: Kenny_Bedwell You can find more of Bill online at: Bill Faeth Linktree: https://linktr.ee/bfaeth?utm_source=linktree_profile_share<sid=660cbc9b-4a7e-4ed9-a654-900180b83af1 Build STR Wealth: https://buildstrwealth.com/ Instagram: @BillFaeth73 Tik Tok: @bfaeth Learn more about your ad choices. Visit megaphone.fm/adchoices

On today's episode Bill and Kenny sit down to discuss the difference between investing into Mid-Term Markets vs Vacation STR Markets. You don't want to miss it! Contact Tyler Coon and his team to get your next Short-Term Rental property under contract! You can find Bill online at: https://www.facebook.com/groups/284886002732508 - The Free Build STR Wealth Facebook Group Build STR Wealth BK Hot Picks STR UNFILTERED Instagram: @BillFaeth73 Tik Tok: @bfaeth You can find Kenny online at: https://strinsights.com/ Instagram: @strinsights Learn more about your ad choices. Visit megaphone.fm/adchoices

On today's episode Bill and Kenny sit down to discuss why you need data to analyze properties before buying them. You don't want to miss it! Contact Tyler Coon and his team to get your next Short-Term Rental property under contract! You can find Bill online at: https://www.facebook.com/groups/284886002732508 - The Free Build STR Wealth Facebook Group Build STR Wealth BK Hot Picks STR UNFILTERED Instagram: @BillFaeth73 Tik Tok: @bfaeth You can find Kenny online at: https://strinsights.com/ Instagram: @strinsights Learn more about your ad choices. Visit megaphone.fm/adchoices

This episode is Sponsored by MarketMySTR.com the STR Industries #1 marketing platform. Topic: Underwriting for Short-Term Rentals: Emphasis on the need for diligent underwriting in the current market. Highlighting the importance of the Debt Service Coverage Ratio (DSCR) in underwriting. Key Takeaways: 1. Proper Underwriting: Overestimating revenue and underestimating expenses can lead to costly mistakes in short-term rental investments. 2. Expense Estimation: Typically, expenses range from 35% to 50% of gross revenue, depending on the market. Underestimating expenses can result in inaccurate projections. 3. Granularity in Calculations: Standard calculators lack the detail needed for accurate underwriting. Advanced performance calculators help identify issues in specific expense categories. 4. Hidden Expenses: Expenses like insurance, utilities, and climate-related costs can be overlooked but are crucial. 5. Market-Specific Expenses: Expenses vary by market; consider factors like snow plowing and trash collection. 6. Interest Rate Impact: Changing interest rates can affect mortgage expenses, so stay updated on current rates. 7. Set-Up Time and Costs: Factor in the time and costs required to prepare the property for guests, including travel expenses. 8. Annual and Legal Fees: Include fees for LLC renewals, legal matters, taxes, and miscellaneous costs in projections. 9. Tech Fees: Account for technology fees associated with property management, pricing tools, and marketing. 10. Conservative Projections: - Overestimate expenses by 10% and underestimate revenue by 10% in your pro forma calculations for a more conservative outlook. We handle the day-to-day tasks of your short-term rental, giving you the freedom to grow your business and focus on the things that matter most. In the dynamic landscape of short-term rentals, success lies in the details. At STR Super VAs, we bring expertise to every facet of your business, ensuring those details are meticulously managed. Click here to learn more about how you can integrate VAs into your business! https://www.strvas.com/ Watch this podcast each Thursday on our YouTube Channel: https://www.youtube.com/channel/UCnheh3vx0hT5Y7uHWhBs8kA STR Data Hosts Facebook Page Instagram: Kenny_Bedwell You can find more of Bill online at: Bill Faeth Linktree: https://linktr.ee/bfaeth?utm_source=linktree_profile_share<sid=660cbc9b-4a7e-4ed9-a654-900180b83af1 Build STR Wealth: https://buildstrwealth.com/ Instagram: @BillFaeth73 Tik Tok: @bfaeth Learn more about your ad choices. Visit megaphone.fm/adchoices

On today's episode Bill and Kenny sit down to discuss the most important data points you should be looking at when it comes to investing. You don't want to miss it! Contact Tyler Coon and his team to get your next Short-Term Rental property under contract! You can find Bill online at: https://www.facebook.com/groups/284886002732508 - The Free Build STR Wealth Facebook Group Build STR Wealth BK Hot Picks STR UNFILTERED Instagram: @BillFaeth73 Tik Tok: @bfaeth You can find Kenny online at: https://strinsights.com/ Instagram: @strinsights Learn more about your ad choices. Visit megaphone.fm/adchoices

This episode of STRonomics is proudly sponsored by MarketMySTR.com, the leading marketing platform for STR Industries. Diving into the latest episode of STRonomics: Join hosts Bill and Kenny as they unveil their cutting-edge techniques for transforming regular properties into extraordinary Super Properties.  Discover the true essence of luxury beyond market trends. Learn how to craft meticulous master plans that breathe new life into properties, from subtle additions like plush pillows per bed to grander features like indulgent hot tubs.  Stay tuned as Bill and Kenny share the secret to strategically enhancing properties in phases while maximizing value.  And don't miss their insights on understanding the 'why' behind each upgrade, enabling you to market and showcase your property seamlessly to potential guests.  Tune in now to elevate your property game! [00:03] Introducing STRonomics [01:00] The Market [02:17] What is A Super Property? [07:35] Having A Master Plan [09:30] Financing [10:20] Adding in Phases [12:25] Bella Vista Property [13:20] Making it POP [17:15] Positive ROI [19:30] Montana House [21:26] Why It's Being Done [22:20] Wrapping Up Watch this podcast each Thursday on our YouTube Channel: https://www.youtube.com/channel/UCnheh3vx0hT5Y7uHWhBs8kA STR Data Hosts Facebook Page Instagram: Kenny_Bedwell You can find more of Bill online at: Bill Faeth Linktree: https://linktr.ee/bfaeth?utm_source=linktree_profile_share<sid=660cbc9b-4a7e-4ed9-a654-900180b83af1 Build STR Wealth: https://buildstrwealth.com/ Instagram: @BillFaeth73 Tik Tok: @bfaeth Learn more about your ad choices. Visit megaphone.fm/adchoices

This episode is Sponsored by MarketMySTR.com the STR Industries #1 marketing platform. In the latest episode of STRonomics, Bill and Kenny dive into their approach to forecasting future revenue in a dynamic market. They explore various strategies for analyzing their properties, such as evaluating market saturation levels and closely monitoring consumer spending as an indicator of future revenue potential. Moreover, they emphasize the paramount significance of marketability. Without a well-defined marketing plan, an ordinary property may struggle when Fall 2023 arrives. Don't succumb to negative scenarios; instead, seize the opportunity to enhance your short-term rental business by absorbing the valuable insights presented by Bill and Kenny in this succinct episode of STRonomics! [00:03] Introducing STRonomics [00:26] Why We Forcast Future Revenues [1:20] Models [3:45] How Do I Do It? [5:20] Where Do I Find This? [8:10] Market Saturation Level [10:43] Occupancy [12:00] 2024 Forecasting [20:50] No Crystal Ball [22:45] Marketability of Property [25:50] Taking All Variables In [27:37] In Closing Watch this podcast each Thursday on our YouTube Channel: https://www.youtube.com/channel/UCnheh3vx0hT5Y7uHWhBs8kA STR Data Hosts Facebook Page Instagram: Kenny_Bedwell You can find more of Bill online at: Bill Faeth Linktree: https://linktr.ee/bfaeth?utm_source=linktree_profile_share<sid=660cbc9b-4a7e-4ed9-a654-900180b83af1 Build STR Wealth: https://buildstrwealth.com/ Instagram: @BillFaeth73 Tik Tok: @bfaeth Learn more about your ad choices. Visit megaphone.fm/adchoices

On today's episode Bill and Kenny sit to discuss where they think you should be looking to invest in 2023. You don't want to miss it! Contact Tyler Coon and his team to get your next Short-Term Rental property under contract! Report: https://www.strinsights.com/top-markets-report-2023 Our podcast Is doing a survey to get to know our listeners more! Use this link to fill out the survey! You can find Bill online at: https://www.facebook.com/groups/284886002732508 - The Free Build STR Wealth Facebook Group Build STR Wealth BK Hot Picks STR UNFILTERED Instagram: @BillFaeth73 Tik Tok: @bfaeth You can find Kenny online at: https://strinsights.com/ Instagram: @strinsights Learn more about your ad choices. Visit megaphone.fm/adchoices

On this STRonomics, Kenny is solo while Bill travels and he discusses how to spot emerging markets and lets you in on the ones he’s personally keeping an eye on! [0:05] Introduction [0:30] Spotting Emerging Markets [2:20] Defining an Emerging Market [4:30] The Covid Bump [7:00] Active Listing Surges [8:32] Foot Traffic as an Indicator [9:56] Short Term Rental Regulations [11:37] My STR Revenue [12:35] Example #1 [15:15] National Parks [17:05] College Towns [20:23] Ski Resorts [23:40] Frisco, Texas [24:50] Closing Remarks STR Data Hosts Facebook Page Instagram: Kenny_Bedwell Watch this podcast each Thursday on our Youtube Channel: https://www.youtube.com/channel/UCnheh3vx0hT5Y7uHWhBs8kA You can find more of Bill online at: Bill Faeth Linktree: https://linktr.ee/bfaeth?utm_source=linktree_profile_share<sid=660cbc9b-4a7e-4ed9-a654-900180b83af1 The Free Build STR Wealth Facebook Group: https://www.facebook.com/groups/284886002732508 Build STR Wealth: https://buildstrwealth.com/ BK Hot Picks: https://bkhotpicks.com/ Instagram: @BillFaeth73 Tik Tok: @bfaeth Learn more about your ad choices. Visit megaphone.fm/adchoices

Bill Faith and Kenny Bedwell, hosts of STRonomics podcast, discuss the importance of choosing the right short-term rental (STR) realtor and when to consider ending that relationship. They highlight the significance of finding an STR realtor who understands the market and the specifics of STR investments. Segment 1: Why Choosing the Right STR Realtor Matters Bill and Kenny emphasize that using a regular realtor for STR investments might not be the best approach. They mention two reputable STR realtors, Avery and Tyler Kuhn, and the importance of finding agents with experience in the STR market. Kenny talks about STR Insights and how it helps investors find vetted realtors in various markets to facilitate property searches. The hosts discuss the common challenge of finding reliable resources when investing in unfamiliar markets. Segment 2: What Makes a Great STR Realtor Kenny explains that a great STR realtor should not only have experience but should also understand how STR properties work and generate income. Bill emphasizes the significance of finding an STR realtor who owns or at least manages STR properties. They share anecdotes about their experiences with realtors who didn't fully understand the STR market and its nuances. Segment 3: Due Diligence and Community Sentiment Kenny advises investors to perform due diligence, not solely relying on their realtor's recommendations. They stress the importance of verifying regulations and community sentiment independently. Bill shares his experience of almost buying a property without verifying local regulations. Segment 4: When to Consider Firing Your STR Realtor Bill and Kenny suggest that if an STR realtor doesn't make you feel like a priority or isn't catering to your needs, it might be time to consider parting ways. They discuss the exclusivity agreements some realtors ask for and advise against signing them. Bill recommends trusting your gut feeling and leaving the relationship when it no longer feels right. They emphasize the importance of setting clear expectations with your realtor from the beginning. Conclusion: Bill and Kenny encourage listeners to leave reviews for their podcast on various platforms. They invite the audience to return for the next episode and thank them for tuning in to STRonomics. We handle the day-to-day tasks of your short-term rental, giving you the freedom to grow your business and focus on the things that matter most. In the dynamic landscape of short-term rentals, success lies in the details. At STR Super VAs, we bring expertise to every facet of your business, ensuring those details are meticulously managed. Click here to learn more about how you can integrate VAs into your business! https://www.strvas.com/ Watch this podcast each Thursday on our YouTube Channel: https://www.youtube.com/channel/UCnheh3vx0hT5Y7uHWhBs8kA STR Data Hosts Facebook Page Instagram: Kenny_Bedwell You can find more of Bill online at: Bill Faeth Linktree: https://linktr.ee/bfaeth?utm_source=linktree_profile_share<sid=660cbc9b-4a7e-4ed9-a654-900180b83af1 Build STR Wealth: https://buildstrwealth.com/ Instagram: @BillFaeth73 Tik Tok: @bfaeth Learn more about your ad choices. Visit megaphone.fm/adchoices

This episode of STRonomics is proudly sponsored by MarketMySTR.com, the leading marketing platform for STR Industries. Bill Faeth from Build STR Wealth and Kenny Bedwell from STR Insights discuss the prevalent mistakes in the short term rental industry, specifically overspending on design and poor time management. They also discuss problems from underestimating launching and operational costs, hesitations due to market saturation, and the effects of rising interest rates. The hosts emphasize the importance of meticulous underwriting and property identification processes. They also share information about their paid and free options to help individuals avoid and mitigate these common mistakes. 00:00 Introduction and Welcome 00:54 Discussing the Biggest Mistakes of 2023 01:06 Overspending on Design and Decor 01:54 Maximizing Return on Investment 04:36 The Importance of Timing 09:08 The Role of the Banker in the Process 10:21 Avoiding Saturation and Finding Opportunities 17:08 Understanding the True Costs of Running a Short Term Rental 22:06 The Importance of Due Diligence and Research 22:28 Conclusion and Final Thoughts We handle the day-to-day tasks of your short-term rental, giving you the freedom to grow your business and focus on the things that matter most. In the dynamic landscape of short-term rentals, success lies in the details. At STR Super VAs, we bring expertise to every facet of your business, ensuring those details are meticulously managed. Click here to learn more about how you can integrate VAs into your business! https://www.strvas.com/ Watch this podcast each Thursday on our YouTube Channel: https://www.youtube.com/channel/UCnheh3vx0hT5Y7uHWhBs8kA STR Data Hosts Facebook Page Instagram: Kenny_Bedwell You can find more of Bill online at: Bill Faeth Linktree: https://linktr.ee/bfaeth?utm_source=linktree_profile_share<sid=660cbc9b-4a7e-4ed9-a654-900180b83af1 Build STR Wealth: https://buildstrwealth.com/ Instagram: @BillFaeth73 Tik Tok: @bfaeth Learn more about your ad choices. Visit megaphone.fm/adchoices

Bill and Kenny explore how to navigate current challenges in the short-term rental market, including increasing regulations, market saturation, and rising interest rates. They focus on how to strategically invest in amenities like pickleball courts, saunas, and geo-domes to enhance guest experience and improve booking rates. The discussion includes the importance of understanding your target market, guest feedback, and marketing strategies, concluding with practical advice on small but impactful additions like USB chargers and master bedroom coffee bars. https://go.buildstrwealth.com/tour 00:00 Introduction to STRonomics 01:26 Welcome Back to STRonomics 01:41 Discussing Amenities: Pickleball Courts 08:54 Unique Amenities: Saunas and Swim Spas 14:21 Marketing Strategies for Short Term Rentals 23:48 Guest Fatigue and Choosing Listings 26:37 Conclusion and Farewell We handle the day-to-day tasks of your short-term rental, giving you the freedom to grow your business and focus on the things that matter most. In the dynamic landscape of short-term rentals, success lies in the details. At STR Super VAs, we bring expertise to every facet of your business, ensuring those details are meticulously managed. Click here to learn more about how you can integrate VAs into your business! https://www.strvas.com/ Watch this podcast each Thursday on our YouTube Channel: https://www.youtube.com/channel/UCnheh3vx0hT5Y7uHWhBs8kA STR Data Hosts Facebook Page Instagram: Kenny_Bedwell You can find more of Bill online at: Bill Faeth Linktree: https://linktr.ee/bfaeth?utm_source=linktree_profile_share<sid=660cbc9b-4a7e-4ed9-a654-900180b83af1 Build STR Wealth: https://buildstrwealth.com/ Instagram: @BillFaeth73 Tik Tok: @bfaeth Learn more about your ad choices. Visit megaphone.fm/adchoices

This episode is Sponsored by MarketMySTR.com the STR Industries #1 marketing platform. In this episode, Bill Faeth and Kenny Bedwell discuss the considerations and strategies when investing in real estate and markets. They explore the importance of understanding the markets, finding value in data and doing thorough research. They caution against solely relying on real estate agents and emphasize the importance of doing one's own due diligence. The conversation also brings to light the significance of identifying underserved markets with quality hosts, considering hosting quality and location within markets, understanding market ratings, and assessing the cost and barrier of entry. The duo also touches on the concept of 'traffic drivers' in determining investment opportunities. 00:02 Introduction and Welcome 00:40 Understanding Real Market Analysis 01:18 Defining the Process of Evaluating a Market 02:18 The Role of Lifestyle and Financial Decisions in Market Analysis 03:10 The Importance of Market Research 06:52 The Power of Connections and Deep Research in Market Analysis 08:57 The Impact of Market Changes on Investment Decisions 19:10 The Role of Data in Market Analysis 22:24 Understanding the Importance of Hosting Quality 26:04 Conclusion and Wrap Up Watch this podcast each Thursday on our YouTube Channel: https://www.youtube.com/channel/UCnheh3vx0hT5Y7uHWhBs8kA STR Data Hosts Facebook Page Instagram: Kenny_Bedwell You can find more of Bill online at: Bill Faeth Linktree: https://linktr.ee/bfaeth?utm_source=linktree_profile_share<sid=660cbc9b-4a7e-4ed9-a654-900180b83af1 Build STR Wealth: https://buildstrwealth.com/ Instagram: @BillFaeth73 Tik Tok: @bfaeth Learn more about your ad choices. Visit megaphone.fm/adchoices

Kenny shares his personal experience with regulatory changes in Buffalo, New York, which went from no regulation to a complete shutdown of non-owner-occupied short-term rentals. Bill and Kenny discuss the importance of having a seat at the table for advocacy prior to regulatory changes, drawing parallels to the rise of Uber. They emphasize the need for organized resistance early on to influence city council decisions. Regulation is identified as a major threat to the industry, impacting investment strategies. Bill shares his approach of investing in markets with established regulations or those where tourism is a significant income source. They caution against investing in politically volatile areas and stress researching political climates when choosing markets. The hosts also highlight the rise of tourism in tertiary communities around urban centers as an opportunity. They conclude by urging listeners to prepare for long-term changes in the industry and consider advocacy seriously. https://www.marketmystr.com/ 00:00 Introduction to STRonomics 00:28 Market My STR: The Ultimate Marketing Platform 01:26 The Reality of Short-Term Rental Regulations 02:08 Kenny's Buffalo Experience 03:37 The Importance of Advocacy 05:26 Lessons from Uber's Strategy 08:32 Investing Strategies Amidst Regulation 15:58 Final Thoughts and Farewell We handle the day-to-day tasks of your short-term rental, giving you the freedom to grow your business and focus on the things that matter most. In the dynamic landscape of short-term rentals, success lies in the details. At STR Super VAs, we bring expertise to every facet of your business, ensuring those details are meticulously managed. Click here to learn more about how you can integrate VAs into your business! https://www.strvas.com/ Watch this podcast each Thursday on our YouTube Channel: https://www.youtube.com/channel/UCnheh3vx0hT5Y7uHWhBs8kA STR Data Hosts Facebook Page Instagram: Kenny_Bedwell You can find more of Bill online at: Bill Faeth Linktree: https://linktr.ee/bfaeth?utm_source=linktree_profile_share<sid=660cbc9b-4a7e-4ed9-a654-900180b83af1 Build STR Wealth: https://buildstrwealth.com/ Instagram: @BillFaeth73 Tik Tok: @bfaeth Learn more about your ad choices. Visit megaphone.fm/adchoices

This episode of STRonomics is proudly sponsored by MarketMySTR.com, the leading marketing platform for STR Industries. In this episode of STRonomics, industry experts Bill Faeth and Kenny Bedwell discuss how to stay ahead of the curve in short-term rental investments amidst increasing regulation, market saturation, and rising interest rates. They caution against banking on future predictions like cost segregation bills or interest rates, stressing the importance of making informed, data-driven decisions based on the present situation. The duo also stress the need to be unique and differentiate one's property to succeed in increasingly competitive markets. The discussion also features tips on timely implementation of investment plans and avoiding common pitfalls in the acquisition process. 00:00 Introduction to Short Term Rentals 00:28 Market My STR: The Ultimate Marketing Platform for Short Term Rental Hosts 01:26 Welcome Back to STRonomics 01:52 Discussion on the Cost Segregation Bill 02:42 Why You Shouldn't Bank on the Future 04:15 The Importance of Timing in Property Investment 07:58 The Dangers of Speculation in Property Investment 11:49 The Impact of Amusement Parks on Property Investment 19:25 Conclusion: Focus on Making Your Property Unique 20:52 Outro: Thank You for Listening to STRonomics We handle the day-to-day tasks of your short-term rental, giving you the freedom to grow your business and focus on the things that matter most. In the dynamic landscape of short-term rentals, success lies in the details. At STR Super VAs, we bring expertise to every facet of your business, ensuring those details are meticulously managed. Click here to learn more about how you can integrate VAs into your business! https://www.strvas.com/ Watch this podcast each Thursday on our YouTube Channel: https://www.youtube.com/channel/UCnheh3vx0hT5Y7uHWhBs8kA STR Data Hosts Facebook Page Instagram: Kenny_Bedwell You can find more of Bill online at: Bill Faeth Linktree: https://linktr.ee/bfaeth?utm_source=linktree_profile_share<sid=660cbc9b-4a7e-4ed9-a654-900180b83af1 Build STR Wealth: https://buildstrwealth.com/ Instagram: @BillFaeth73 Tik Tok: @bfaeth Learn more about your ad choices. Visit megaphone.fm/adchoices

This episode is Sponsored by MarketMySTR.com the STR Industries #1 marketing platform. In this episode of STRonomics, hosts discuss the business strategy called 'The Pumpkin Plan' and its application in the Short-Term Rental (STR) business. The hosts analyze the strategy that starts from selecting the right seeds (properties) to nurturing and growing the business with meticulous care which can be equated to spritzing, ensuring their continuous growth, and killing or trimming away the ones that are not growing. They also emphasize the importance of uniqueness in this competitive field and how it helps to understand the target audience better for maximum returns. The hosts further discuss how marketers need to adopt these strategies according to the shift in the market trends, leaning towards either high-end or low-end properties, leaving the conventional middle-market path. 00:00 Introduction and Christmas Sweater Fun 02:34 Revisiting the Mastermind Meeting 03:30 Applying the Pumpkin Plan to Short Term Rentals 06:48 Understanding the Importance of Targeting Specific Guest Avatars 13:59 The Importance of Nurturing and Maintaining Your Properties 18:05 The Shift in Mindset for Property Picking 20:23 The Middle Road is Disappearing 22:35 Conclusion and Look Ahead Watch this podcast each Thursday on our YouTube Channel: https://www.youtube.com/channel/UCnheh3vx0hT5Y7uHWhBs8kA STR Data Hosts Facebook Page Instagram: Kenny_Bedwell You can find more of Bill online at: Bill Faeth Linktree: https://linktr.ee/bfaeth?utm_source=linktree_profile_share<sid=660cbc9b-4a7e-4ed9-a654-900180b83af1 Build STR Wealth: https://buildstrwealth.com/ Instagram: @BillFaeth73 Tik Tok: @bfaeth Learn more about your ad choices. Visit megaphone.fm/adchoices

Bill and Kenny discuss the impact of increasing regulation, market saturation, and rising interest rates on short-term rental investments. They introduce the upcoming STR Scale Summit, a free virtual conference on August 16th and 17th, featuring over a dozen industry experts on topics like marketing, taxes, design, revenue management, and more. The episode emphasizes the importance of attending this summit for valuable insights and actionable strategies to stay ahead in the competitive short-term rental market. https://strscalesummit.com/ https://go.buildstrwealth.com/tour 00:26 Welcome Back to STRonomics 00:43 Introducing the STR Scale Summit 02:32 Meet the Speakers and Topics 10:04 Why Attend the STR Scale Summit? 14:24 Preparing for the Shoulder Season 15:12 Conclusion and Final Thoughts We handle the day-to-day tasks of your short-term rental, giving you the freedom to grow your business and focus on the things that matter most. In the dynamic landscape of short-term rentals, success lies in the details. At STR Super VAs, we bring expertise to every facet of your business, ensuring those details are meticulously managed. Click here to learn more about how you can integrate VAs into your business! https://www.strvas.com/ Watch this podcast each Thursday on our YouTube Channel: https://www.youtube.com/channel/UCnheh3vx0hT5Y7uHWhBs8kA STR Data Hosts Facebook Page Instagram: Kenny_Bedwell You can find more of Bill online at: Bill Faeth Linktree: https://linktr.ee/bfaeth?utm_source=linktree_profile_share<sid=660cbc9b-4a7e-4ed9-a654-900180b83af1 Build STR Wealth: https://buildstrwealth.com/ Instagram: @BillFaeth73 Tik Tok: @bfaeth Learn more about your ad choices. Visit megaphone.fm/adchoices

On today's episode Bill and Kenny sit down to discuss if having your STR be pet friendly makes sense or not. You don't want to miss it! Contact Tyler Coon and his team to get your next Short-Term Rental property under contract! You can find Bill online at: https://www.facebook.com/groups/284886002732508 - The Free Build STR Wealth Facebook Group Build STR Wealth BK Hot Picks STR UNFILTERED Instagram: @BillFaeth73 Tik Tok: @bfaeth You can find Kenny online at: https://strinsights.com/ Instagram: @strinsights Learn more about your ad choices. Visit megaphone.fm/adchoices

This episode of STRonomics is proudly sponsored by MarketMySTR.com, the leading marketing platform for STR Industries. In this episode of STRonomics, industry insiders Bill Faeth and Kenny Bedwell dive deep into the strategies for identifying and investing in short-term rental properties capable of generating significant cash flow. They introduce listeners to the '550 to 50 property stacking plan,' a method designed to build $250,000 a year in net income within five years by acquiring five properties. The discussion covers the importance of understanding market dynamics, selecting the right properties, optimizing operations, and utilizing data from various sources to make informed decisions. The episode also touches on overcoming common pitfalls like market saturation and the impact of regulations on profitability. Moreover, practical advice on financing, market analysis, and property optimization is shared to help potential investors establish a lucrative short-term rental business while navigating the complexities of the current market landscape. 00:00 Navigating the Short-Term Rental Market: Insights and Strategies 00:28 Maximizing Your STR Marketing with Market My STR 01:59 Deep Dive into the 550 to 50 Property Stacking Plan 04:19 Finding High Cashflow Properties: Strategies and Budgeting 09:22 Data Analysis: Navigating Disparities and Identifying Opportunities 16:57 Market Selection and Property Analysis: The Key to STR Success 20:48 Advanced Investment Strategies for Short-Term Rentals 23:10 Closing Thoughts and Resources for STR Hosts We handle the day-to-day tasks of your short-term rental, giving you the freedom to grow your business and focus on the things that matter most. In the dynamic landscape of short-term rentals, success lies in the details. At STR Super VAs, we bring expertise to every facet of your business, ensuring those details are meticulously managed. Click here to learn more about how you can integrate VAs into your business! https://www.strvas.com/ Watch this podcast each Thursday on our YouTube Channel: https://www.youtube.com/channel/UCnheh3vx0hT5Y7uHWhBs8kA STR Data Hosts Facebook Page Instagram: Kenny_Bedwell You can find more of Bill online at: Bill Faeth Linktree: https://linktr.ee/bfaeth?utm_source=linktree_profile_share<sid=660cbc9b-4a7e-4ed9-a654-900180b83af1 Build STR Wealth: https://buildstrwealth.com/ Instagram: @BillFaeth73 Tik Tok: @bfaeth Learn more about your ad choices. Visit megaphone.fm/adchoices

Bill and Kenny dive into the nuances of preparing for the shoulder season in the short-term rental market. They highlight the importance of understanding booking lead times, optimizing pricing well in advance, and adapting strategies based on market demands. Bill and Kenny discuss their personal approaches to transitioning from peak summer seasons and how to prepare properties for fall and winter. They also emphasize the significance of price sensitivity, elasticity, and the role of amenities in booking success. The episode aims to provide hosts with actionable insights to stay ahead and maximize their rental revenue year-round. https://go.buildstrwealth.com/tour 00:26 Welcome Back to STRonomics 00:43 Preparing for the Shoulder Season 03:36 Optimizing Pricing Strategies 07:22 Importance of Seasonal Amenities 13:05 Working with Revenue Managers 17:02 Conclusion and Final Thoughts We handle the day-to-day tasks of your short-term rental, giving you the freedom to grow your business and focus on the things that matter most. In the dynamic landscape of short-term rentals, success lies in the details. At STR Super VAs, we bring expertise to every facet of your business, ensuring those details are meticulously managed. Click here to learn more about how you can integrate VAs into your business! https://www.strvas.com/ Watch this podcast each Thursday on our YouTube Channel: https://www.youtube.com/channel/UCnheh3vx0hT5Y7uHWhBs8kA STR Data Hosts Facebook Page Instagram: Kenny_Bedwell You can find more of Bill online at: Bill Faeth Linktree: https://linktr.ee/bfaeth?utm_source=linktree_profile_share<sid=660cbc9b-4a7e-4ed9-a654-900180b83af1 Build STR Wealth: https://buildstrwealth.com/ Instagram: @BillFaeth73 Tik Tok: @bfaeth Learn more about your ad choices. Visit megaphone.fm/adchoices

Bill Faeth and Kenny Bedwell tackle the mindset necessary for success in the short-term rental (STR) market, strongly opposing the idea of having a backup plan like midterm or long-term rentals (MTR or LTR). They share insights from their vast experiences, emphasizing going all-in on STRs, even in the face of increasing regulation, market saturation, and rising interest rates. The discussion highlights the differences between STR, MTR, and LTR investments, underlining that properties suitable for short-term rentals typically do not align well with other rental strategies due to location and cost issues. They caution against diluting focus by managing multiple types of rental businesses and share personal anecdotes to illustrate their points. Additionally, the episode features a promotion for Market My STR, a comprehensive marketing platform designed to streamline marketing efforts for short-term rental hosts. The podcast underscores the necessity of total commitment and adequate preparation for potential challenges in the STR market. This episode of STRonomics is proudly sponsored by MarketMySTR.com, the leading marketing platform for STR Industries. 00:00 Introduction to STRonomics and Market My STR 01:26 Diving Deep: The Backup Plan Debate for STR Investors 03:34 The Risks and Realities of Midterm and Longterm Rentals 11:14 Why Going All-In on STRs is Essential for Success 15:56 The Future of MTRs and the Importance of Commitment 20:07 Closing Thoughts and Call to Action We handle the day-to-day tasks of your short-term rental, giving you the freedom to grow your business and focus on the things that matter most. In the dynamic landscape of short-term rentals, success lies in the details. At STR Super VAs, we bring expertise to every facet of your business, ensuring those details are meticulously managed. Click here to learn more about how you can integrate VAs into your business! https://www.strvas.com/ Watch this podcast each Thursday on our YouTube Channel: https://www.youtube.com/channel/UCnheh3vx0hT5Y7uHWhBs8kA STR Data Hosts Facebook Page Instagram: Kenny_Bedwell You can find more of Bill online at: Bill Faeth Linktree: https://linktr.ee/bfaeth?utm_source=linktree_profile_share<sid=660cbc9b-4a7e-4ed9-a654-900180b83af1 Build STR Wealth: https://buildstrwealth.com/ Instagram: @BillFaeth73 Tik Tok: @bfaeth Learn more about your ad choices. Visit megaphone.fm/adchoices

This episode is Sponsored by MarketMySTR.com the STR Industries #1 marketing platform. On STRonomics this week, Kenny and Bill go through the 7 things you can do today to Maximize your STR revenue! Bookings will not come easily after the summer boom, fly past your competition now! [0:05] Bill and Kenny’s Intro [0:50] How to Maximize Revenue Today! [1:28] Strategic Ammenties Investments [5:06] EV Chargers [6:00] Marketing Ammenties Outside In [6:58] What Impacts Branding [8:00] Accommodating Weddings [9:34] Niche Design [10:50] Off-Platform Marketing [11:23] Highest and Best Use Design [13:50] $25,000 Photos [17:00] MarketMySTR [19:56] Rankings, Ratings, and Reviews [22:25] STR Data Host [23:43] Closing Remarks Learn the strategies and secrets you need in this one-day virtual event to increase bookings without having to simply drop your prices! Click Here for more info > Maximizing Revenue Event Join our Free Build STR Wealth Facebook Group and watch Wednesday, May 31st at 3PM CST for a Free one-hour walkthrough on how to use the Best All-in-One STR Marketing Platform. Click to Join > Build STR Wealth FB Group Watch this podcast each Thursday on our Youtube Channel: https://www.youtube.com/channel/UCnheh3vx0hT5Y7uHWhBs8kA STR Data Hosts Facebook Page Instagram: Kenny_Bedwell You can find more of Bill online at: Bill Faeth Linktree: https://linktr.ee/bfaeth?utm_source=linktree_profile_share<sid=660cbc9b-4a7e-4ed9-a654-900180b83af1 Build STR Wealth: https://buildstrwealth.com/ Instagram: @BillFaeth73 Tik Tok: @bfaeth Learn more about your ad choices. Visit megaphone.fm/adchoices

On today's episode Bill and Kenny sit to discuss how to analyze your current property. You don't want to miss it! Contact Tyler Coon and his team to get your next Short-Term Rental property under contract! Our podcast Is doing a survey to get to know our listeners more! Use this link to fill out the survey! You can find Bill online at: https://www.facebook.com/groups/284886002732508 - The Free Build STR Wealth Facebook Group Build STR Wealth BK Hot Picks STR UNFILTERED Instagram: @BillFaeth73 Tik Tok: @bfaeth You can find Kenny online at: https://strinsights.com/ Instagram: @strinsights Learn more about your ad choices. Visit megaphone.fm/adchoices

This episode of STRonomics is proudly sponsored by MarketMySTR.com, the leading marketing platform for STR Industries. In this week's episode of STRonomics, Bill and Kenny delve into their strategies for securing more fall bookings while effectively managing their time through the use of Virtual Assistants (VAs). They discuss their ongoing and upcoming endeavors, highlighting the role of VAs in their operations. Emphasizing their experience with VAs, Bill, and Kenny reveal a crucial insight they've gained over time: the effectiveness of specialized expertise. They recognize that a top-tier VA is one who excels in a specific area rather than attempting to master every task. By identifying tasks that are repetitive yet necessary, they've optimized their approach by entrusting these responsibilities to dedicated professionals, thus liberating their own time. The discussion extends to the approach they advocate for the fall season. Bill and Kenny advocate for a comprehensive evaluation of ongoing tasks and their outcomes. They stress the importance of introspection to ensure that essential goals are being achieved. A significant portion of the conversation revolves around their meticulous exploration of available VAs. By researching extensively, they've discovered VAs capable of not only streamlining tasks but also freeing them to focus on critical 'CEO' decisions, removing concerns about intricate aspects like Booking Lead Time. Throughout the episode, the duo underscores the significance of preparedness as autumn and winter approach. Time emerges as a finite resource, particularly for capitalizing on market opportunities influenced by economic fluctuations. They emphasize the necessity of integrating VAs seamlessly into one's bustling business to pave the way for future success and growth. The episode resonates with the message that the investment in VAs today translates into invaluable dividends down the line. We handle the day-to-day tasks of your short-term rental, giving you the freedom to grow your business and focus on the things that matter most. In the dynamic landscape of short-term rentals, success lies in the details. At STR Super VAs, we bring expertise to every facet of your business, ensuring those details are meticulously managed. Click here to learn more about how you can integrate VAs into your business! > https://www.strvas.com/  Bill and Kenny will also be hosting a virtually free training course scheduled for Wednesday, Aug 23, 2023, at 3 PM EST. In this session, they will share comprehensive guidance on locating VAs, vetting them effectively, and training them for specific tasks. Attendees will have the opportunity to ask questions and gain expert opinions from both Bill and Kenny, making this training a must-attend event for anyone seeking to optimize their business with virtual assistants. Mark your calendars and don't miss out on this invaluable opportunity! Click this link to sign up for the training> https://tinyurl.com/nhhb2k3u [00:03] Introducing STRonomics [01:30] Managing Your VAs [07:41] Hiring Specialists [08:25] Identity Genius Zone [10:35] Tasks Given to VAs [17:20] Doing Your Research [20:30] VA in Marketing [22:42] Are You Doing Everything? [23:10] Starting Now [24:00] Booking Lead Time [25:00] Taking Action [26:35] Gulf Shores, Alabama [28:50] You Need Some Help [29:40] Wrapping Up Watch this podcast each Thursday on our YouTube Channel: https://www.youtube.com/channel/UCnheh3vx0hT5Y7uHWhBs8kA STR Data Hosts Facebook Page Instagram: Kenny_Bedwell You can find more of Bill online at: Bill Faeth Linktree: https://linktr.ee/bfaeth?utm_source=linktree_profile_share<sid=660cbc9b-4a7e-4ed9-a654-900180b83af1 Build STR Wealth: https://buildstrwealth.com/ Instagram: @BillFaeth73 Tik Tok: @bfaeth Learn more about your ad choices. Visit megaphone.fm/adchoices

On today's episode Bill and Kenny sit to discuss the top mistakes STR Investors made in 2022. You don't want to miss it! Contact Tyler Coon and his team to get your next Short-Term Rental property under contract! Report: https://www.strinsights.com/top-markets-report-2023 Our podcast Is doing a survey to get to know our listeners more! Use this link to fill out the survey! You can find Bill online at: https://www.facebook.com/groups/284886002732508 - The Free Build STR Wealth Facebook Group Build STR Wealth BK Hot Picks STR UNFILTERED Instagram: @BillFaeth73 Tik Tok: @bfaeth You can find Kenny online at: https://strinsights.com/ Instagram: @strinsights Learn more about your ad choices. Visit megaphone.fm/adchoices

On today's episode Bill and Kenny sit down to discuss the importance of location. You don't want to miss it! Contact Tyler Coon and his team to get your next Short-Term Rental property under contract! You can find Bill online at: https://www.facebook.com/groups/284886002732508 - The Free Build STR Wealth Facebook Group Build STR Wealth BK Hot Picks STR UNFILTERED Instagram: @BillFaeth73 Tik Tok: @bfaeth You can find Kenny online at: https://strinsights.com/ Instagram: @strinsights Learn more about your ad choices. Visit megaphone.fm/adchoices

This episode of STRonomics is proudly sponsored by MarketMySTR.com, the leading marketing platform for STR Industries. Join Bill and Kenny as they dive into the exciting topic of building new properties versus buying short-term rentals. In this engaging conversation, they explore the dynamics of property development, discussing whether building a property is a feasible option, especially in today's challenging lending environment. They emphasize the importance of crunching the numbers and seeking professional guidance, drawing on their extensive expertise in creating Super Properties. Bill and Kenny also shed light on the strategy of venturing beyond crowded primary markets, encouraging listeners to explore promising opportunities in secondary markets. Discover how to craft a property that stands out, with tailored features and amenities that enhance the guest experience. Kenny shares insights on promising locations across the United States for land acquisition and new construction. Meanwhile, Bill recounts his memorable experience staying in a property that became the focal point of the latest Mastermind Meeting. Learn how to create the perfect property that becomes THE destination in its own right. [00:03] Intro to STRonomics [00:47] Building vs Buying STRs [04:23] The Small Things [05:30] New Construction [06:50] Deals [09:00] Maintenance Costs [11:20] Chasing Markets [15:00] Where To Build [20:24] Becoming The Destination [21:30] Wrapping Up We handle the day-to-day tasks of your short-term rental, giving you the freedom to grow your business and focus on the things that matter most. In the dynamic landscape of short-term rentals, success lies in the details. At STR Super VAs, we bring expertise to every facet of your business, ensuring those details are meticulously managed. Click here to learn more about how you can integrate VAs into your business! https://www.strvas.com/ Watch this podcast each Thursday on our YouTube Channel: https://www.youtube.com/channel/UCnheh3vx0hT5Y7uHWhBs8kA STR Data Hosts Facebook Page Instagram: Kenny_Bedwell You can find more of Bill online at: Bill Faeth Linktree: https://linktr.ee/bfaeth?utm_source=linktree_profile_share<sid=660cbc9b-4a7e-4ed9-a654-900180b83af1 Build STR Wealth: https://buildstrwealth.com/ Instagram: @BillFaeth73 Tik Tok: @bfaeth Learn more about your ad choices. Visit megaphone.fm/adchoices

On today's episode Bill and Kenny sit down to discuss how to leverage high interest rates. You don't want to miss it! Contact Tyler Coon and his team to get your next Short-Term Rental property under contract! You can find Bill online at: https://www.facebook.com/groups/284886002732508 - The Free Build STR Wealth Facebook Group Build STR Wealth BK Hot Picks STR UNFILTERED Instagram: @BillFaeth73 Tik Tok: @bfaeth You can find Kenny online at: https://strinsights.com/ Instagram: @strinsights Learn more about your ad choices. Visit megaphone.fm/adchoices

Bill and Kenny emphasize the importance of having a game plan when purchasing properties and qualifying them for material participation. They discuss the need to focus on value additions and timely refreshes to maintain property appeal. The conversation includes tax strategies, particularly around cost segregation and the potential benefits of expensing renovations in the year of purchase. The hosts provide examples from their experiences, such as managing operations during off-seasons and effectively scheduling and budgeting for property upgrades. They stress the importance of execution and planning in achieving successful short-term rental investments. The episode concludes with advice on maximizing property profitability and leveraging tax codes, along with a reminder to subscribe for more valuable insights. https://www.marketmystr.com/ 00:00 Introduction: The Challenges Facing Short-Term Rentals 00:11 Meet the Experts: Bill Faieh and Kenny Bedwell 00:28 MarketmySTR: The Ultimate Marketing Platform 01:26 Welcome Back to STRonomics 01:51 Post-Costing Season: What's Next? 02:46 Steps to Success: Setting Up Your Property 05:08 Understanding Cost Segregation and Material Participation 06:42 Tax Strategies and Renovation Tips 13:51 The Importance of Refreshing Your Property 18:06 Conclusion: Long-Term Planning and Tax Strategies We handle the day-to-day tasks of your short-term rental, giving you the freedom to grow your business and focus on the things that matter most. In the dynamic landscape of short-term rentals, success lies in the details. At STR Super VAs, we bring expertise to every facet of your business, ensuring those details are meticulously managed. Click here to learn more about how you can integrate VAs into your business! https://www.strvas.com/ Watch this podcast each Thursday on our YouTube Channel: https://www.youtube.com/channel/UCnheh3vx0hT5Y7uHWhBs8kA STR Data Hosts Facebook Page Instagram: Kenny_Bedwell You can find more of Bill online at: Bill Faeth Linktree: https://linktr.ee/bfaeth?utm_source=linktree_profile_share<sid=660cbc9b-4a7e-4ed9-a654-900180b83af1 Build STR Wealth: https://buildstrwealth.com/ Instagram: @BillFaeth73 Tik Tok: @bfaeth Learn more about your ad choices. Visit megaphone.fm/adchoices

On today's episode Bill and Kenny sit to discuss how they think you should be budgeting for 2023 given the current economic climate. You don't want to miss it! Contact Tyler Coon and his team to get your next Short-Term Rental property under contract! You can find Bill online at: https://www.facebook.com/groups/284886002732508 - The Free Build STR Wealth Facebook Group Build STR Wealth BK Hot Picks STR UNFILTERED Instagram: @BillFaeth73 Tik Tok: @bfaeth You can find Kenny online at: https://strinsights.com/ Instagram: @strinsights Learn more about your ad choices. Visit megaphone.fm/adchoices

On today's episode Bill and Kenny reveal how they're still able to find excellent cash on cash deals regardless of rising interest rates. You don't want to miss it! Contact Tyler Coon and his team to get your next Short-Term Rental property under contract! You can find Bill online at: https://www.facebook.com/groups/284886002732508 - The Free Build STR Wealth Facebook Group Build STR Wealth BK Hot Picks STR UNFILTERED Instagram: @BillFaeth73 Tik Tok: @bfaeth You can find Kenny online at: https://strinsights.com/ Instagram: @strinsights Learn more about your ad choices. Visit megaphone.fm/adchoices

This episode of STRonomics is proudly sponsored by MarketMySTR.com, the leading marketing platform for STR Industries. In the latest episode of STRonomics, Bill and Kenny delve into the world of virtual assistants (VAs) and reveal how these valuable assets can handle your tasks and enable you to make CEO-level decisions. During the discussion, they emphasize the importance of evaluating your day-to-day schedule to identify tasks that can be efficiently delegated to skilled workers. They share their insights on vetting VAs and stress the significance of assigning specific tasks to each VA. Understanding that not every VA can handle all the required tasks, they advise hiring professionals in different fields to ensure you have experts assisting in your business growth. Furthermore, Bill and Kenny elaborate on their preferred platforms for finding VAs and discuss the benefits of having dedicated VAs for specific tasks versus having others who can assist in multiple areas. Additionally, they address concerns about VAs working for other individuals and whether that should be a point of worry. Excitingly, they announce a virtually free training course scheduled for Wednesday, Aug 23, 2023, at 3 PM EST. In this session, they will share comprehensive guidance on locating VAs, vetting them effectively, and training them for specific tasks. Attendees will have the opportunity to ask questions and gain expert opinions from both Bill and Kenny, making this training a must-attend event for anyone seeking to optimize their business with virtual assistants. Mark your calendars and don't miss out on this invaluable opportunity! Click this link to sign up for the training> https://tinyurl.com/nhhb2k3u [00:03] Introducing STRonomics {01:10] Virtual Assistants [02:55] Marketing Agency [05:30] What Do You Do Daily/Weekly [07:00] Vetting a VA [12:10] Secret Sauce [16:26] Finding Good VAs [18:50] VA Reporting [19:48] One VA [21:15] Recap [22:00] Working for Other People [24:47] Training Course for VAs [25:30] Wrapping Up Watch this podcast each Thursday on our YouTube Channel: https://www.youtube.com/channel/UCnheh3vx0hT5Y7uHWhBs8kA STR Data Hosts Facebook Page Instagram: Kenny_Bedwell You can find more of Bill online at: Bill Faeth Linktree: https://linktr.ee/bfaeth?utm_source=linktree_profile_share<sid=660cbc9b-4a7e-4ed9-a654-900180b83af1 Build STR Wealth: https://buildstrwealth.com/ Instagram: @BillFaeth73 Tik Tok: @bfaeth Learn more about your ad choices. Visit megaphone.fm/adchoices

This episode is Sponsored by MarketMySTR.com the STR Industries #1 marketing platform. Kenny and Bill discuss the importance of taking measured steps when investing in short-term rentals (STRs). They share their recent experiences with a new market and offer valuable insights for aspiring STR investors.  Here are the key takeaways: Market Research Is Crucial: Before diving into any new market or neighborhood, conduct thorough research. Evaluate the market's potential for short-term rentals, its regulations, and trends. Don't Blindly Follow Influencers: Be cautious when following the advice of influencers, including Kenny and Bill. Rather than copying their choices, understand their decision-making process and adapt it to your unique situation. Align Your Goals: Ensure that you and your partner (if applicable) are aligned in terms of your financial goals and investment strategies. Misalignment can lead to poor decision-making. Develop a Customer Acquisition Strategy: Focus on your ideal buyer persona. Understand what they want, need, and are willing to pay for. Tailor your property and marketing to attract this specific audience. Brand and Culture Matter: Building a brand and a unique culture around your STR can set you apart from the competition. Create an experience that resonates with your target audience. Product vs. Customer Focus: Don't solely focus on the quality of your property (product). Concentrate on acquiring the right customers who appreciate what you offer. Prepare a Pre-Offer Checklist: Develop a checklist that guides your decision-making process before making an offer on a property. Consider factors like the ideal buyer persona, amenities, and post-close budget. Confidence and Expertise: If you lack confidence or expertise in certain areas, consider seeking help from professionals like Kenny and Bill to navigate the complex world of STR investing. Remember, successful STR investing involves more than just buying a property; it requires a well-thought-out strategy and understanding your target market and audience. Stay tuned for the next episode of STRonomics as Kenny and Bill delve deeper into the steps and processes of successful STR investing. We handle the day-to-day tasks of your short-term rental, giving you the freedom to grow your business and focus on the things that matter most. In the dynamic landscape of short-term rentals, success lies in the details. At STR Super VAs, we bring expertise to every facet of your business, ensuring those details are meticulously managed. Click here to learn more about how you can integrate VAs into your business! https://www.strvas.com/ Watch this podcast each Thursday on our YouTube Channel: https://www.youtube.com/channel/UCnheh3vx0hT5Y7uHWhBs8kA STR Data Hosts Facebook Page Instagram: Kenny_Bedwell You can find more of Bill online at: Bill Faeth Linktree: https://linktr.ee/bfaeth?utm_source=linktree_profile_share<sid=660cbc9b-4a7e-4ed9-a654-900180b83af1 Build STR Wealth: https://buildstrwealth.com/ Instagram: @BillFaeth73 Tik Tok: @bfaeth Learn more about your ad choices. Visit megaphone.fm/adchoices

This episode is Sponsored by MarketMySTR.com the STR Industries #1 marketing platform .On this week's episode of STRonomics, Bill and Kenny delve into the important topic of when and how to decide whether to sell your property. They discuss the significance of forecasting your property's cash flow over the next seven months as a determining factor in the selling decision. How understanding your life plan becomes crucial in guiding you toward the appropriate choice. Additionally, they highlight the impact of knowing what to do after a sale, as it can greatly influence your rate of future success. You can’t afford to miss this episode! [00:03] Introducing STRonomics [01:33] Pivoting [2:00] Auditing Your Property [2:56] Beach Mountain Home [4:40] My Life-Long Plan [9:30] Personal Financial Decision [13:05] What to Do After You Sell? [15:54] Forecasting Cash Flow [21:40] In Closing Watch this podcast each Thursday on our YouTube Channel: https://www.youtube.com/channel/UCnheh3vx0hT5Y7uHWhBs8kA STR Data Hosts Facebook Page Instagram: Kenny_Bedwell You can find more of Bill online at: Bill Faeth Linktree: https://linktr.ee/bfaeth?utm_source=linktree_profile_share<sid=660cbc9b-4a7e-4ed9-a654-900180b83af1 Build STR Wealth: https://buildstrwealth.com/ Instagram: @BillFaeth73 Tik Tok: @bfaeth Learn more about your ad choices. Visit megaphone.fm/adchoices

This episode of STRonomics is proudly sponsored by MarketMySTR.com, the leading marketing platform for STR Industries. In this episode of STRonomics, hosts Bill Faeth and Kenny Bedwell discuss the outlook for short term rental investors in 2024. They reckon that the future market performance largely hinges on factors like interest rates, the economy, and election outcomes. They also highlight how booking lead times seem to be slowly increasing in the US, evidencing a gradual return to normalcy in tourism after the pandemic-induced slump. On the other hand, they predict real estate markets in the US will become highly competitive and any future value growth will be much harder to secure. Lastly, they caution potential investors to thoroughly scrutinize property deals, considering long-term plans and steading clear from overtly inflated markets. 00:00 Introduction and Welcome 00:14 Excitement for the Upcoming STR Wealth Conference 01:00 Predictions for Short Term Rental Investors in 2024 01:21 Impact of Interest Rates and Economy on the Market 01:30 Trends in Booking Lead Times and Travel Patterns 02:06 Market Dips and Recovery 02:55 Outlook for 2024 03:31 The Impact of the Fed and Elections on the Economy 05:00 Importance of Market Research and Tracking Search Volume 05:55 Buying Strategy for 2024 06:36 Impact of Lowering Interest Rates on the Market 07:15 The Role of the Fed and Interest Rates in Buying Decisions 07:41 The Effect of High Interest Rates on the Market 08:07 The Best Investment Opportunities and Market Trends 14:24 The Importance of Long-Term Thinking in Property Investment 14:50 Avoiding Common Mistakes in Property Investment 16:58 Closing Remarks and Contact Information We handle the day-to-day tasks of your short-term rental, giving you the freedom to grow your business and focus on the things that matter most. In the dynamic landscape of short-term rentals, success lies in the details. At STR Super VAs, we bring expertise to every facet of your business, ensuring those details are meticulously managed. Click here to learn more about how you can integrate VAs into your business! https://www.strvas.com/ Watch this podcast each Thursday on our YouTube Channel: https://www.youtube.com/channel/UCnheh3vx0hT5Y7uHWhBs8kA STR Data Hosts Facebook Page Instagram: Kenny_Bedwell You can find more of Bill online at: Bill Faeth Linktree: https://linktr.ee/bfaeth?utm_source=linktree_profile_share<sid=660cbc9b-4a7e-4ed9-a654-900180b83af1 Build STR Wealth: https://buildstrwealth.com/ Instagram: @BillFaeth73 Tik Tok: @bfaeth Learn more about your ad choices. Visit megaphone.fm/adchoices

In this episode of STRonomics, Kenny Bedwell and Bill Faeth dive deep into the top three metrics that property owners should track. Discover how to differentiate yourself from competitors, reduce your booking lead time, optimize your pricing strategy, and monitor your financials for success. You won’t want to miss this valuable conversation! Watch this podcast each Thursday on our Youtube Channel: https://www.youtube.com/channel/UCnheh3vx0hT5Y7uHWhBs8kA Exclusive Pricelabs Offer Here! Use code BILL25 & get 25% off for the first 3 months (offer valid for new users only) Take the next step towards growing your vacation rental business by enrolling in the STR Host Academy! With our comprehensive training, you’ll get the tools you need to increase your profits, attract new guests, and dominate your competition with marketing. Don’t wait any longer to start seeing results. Enroll in the STR Host Academy today! https://www.strhostacademy.com/hostacademy Contact Tyler Coon and his team to get your next Short-Term Rental property under contract! You can find more of Bill online at: Bill Faeth Linktree: https://linktr.ee/bfaeth?utm_source=linktree_profile_share<sid=660cbc9b-4a7e-4ed9-a654-900180b83af1 The Free Build STR Wealth Facebook Group: https://www.facebook.com/groups/284886002732508 Build STR Wealth: https://buildstrwealth.com/ BK Hot Picks: https://bkhotpicks.com/ Instagram: @BillFaeth73 Tik Tok: @bfaeth Learn more about your ad choices. Visit megaphone.fm/adchoices

This episode is Sponsored by MarketMySTR.com the STR Industries #1 marketing platform. We handle the day-to-day tasks of your short-term rental, giving you the freedom to grow your business and focus on the things that matter most. In the dynamic landscape of short-term rentals, success lies in the details. At STR Super VAs, we bring expertise to every facet of your business, ensuring those details are meticulously managed. Click here to learn more about how you can integrate VAs into your business! https://www.strvas.com/ Watch this podcast each Thursday on our YouTube Channel: https://www.youtube.com/channel/UCnheh3vx0hT5Y7uHWhBs8kA STR Data Hosts Facebook Page Instagram: Kenny_Bedwell You can find more of Bill online at: Bill Faeth Linktree: https://linktr.ee/bfaeth?utm_source=linktree_profile_share<sid=660cbc9b-4a7e-4ed9-a654-900180b83af1 Build STR Wealth: https://buildstrwealth.com/ Instagram: @BillFaeth73 Tik Tok: @bfaeth Learn more about your ad choices. Visit megaphone.fm/adchoices

On today's episode Bill and Kenny sit down to discuss the importance of knowing you exit strategy in this business. You don't want to miss it! Contact Tyler Coon and his team to get your next Short-Term Rental property under contract! You can find Bill online at: https://www.facebook.com/groups/284886002732508 - The Free Build STR Wealth Facebook Group Build STR Wealth BK Hot Picks STR UNFILTERED Instagram: @BillFaeth73 Tik Tok: @bfaeth You can find Kenny online at: https://strinsights.com/ Instagram: @strinsights Learn more about your ad choices. Visit megaphone.fm/adchoices

On today's episode Bill and Kenny discuss the 3 massive mistakes investors make when analyzing properties. You don't want to miss it! Contact Tyler Coon and his team to get your next Short-Term Rental property under contract! You can find Bill online at: https://www.facebook.com/groups/284886002732508 - The Free Build STR Wealth Facebook Group Build STR Wealth BK Hot Picks STR UNFILTERED Instagram: @BillFaeth73 Tik Tok: @bfaeth You can find Kenny online at: https://strinsights.com/ Instagram: @strinsights Learn more about your ad choices. Visit megaphone.fm/adchoices

Bill and Kenny break down their most successful pricing strategies and how paying attention to things like occupancy, the 3-2-1 strategy, and your competition will bring in more summer bookings. [0:05] Chat GPT [1:10] 3-2-1 Strategy [10:10] Optimation Tools [11:23] Pricing for occupancy [13:10] Pricing fluxation example [14:10] Sunk Profit [15:00] Checking your competition [17:20] Lead time example [18:00] Closing wrap up Watch this podcast each Thursday on our Youtube Channel: https://www.youtube.com/channel/UCnheh3vx0hT5Y7uHWhBs8kA Exclusive Pricelabs Offer Here! Use code BILL25 & get 25% off for the first 3 months (offer valid for new users only) You can find more of Bill online at: Bill Faeth Linktree: https://linktr.ee/bfaeth?utm_source=linktree_profile_share<sid=660cbc9b-4a7e-4ed9-a654-900180b83af1 The Free Build STR Wealth Facebook Group: https://www.facebook.com/groups/284886002732508 Build STR Wealth: https://buildstrwealth.com/ BK Hot Picks: https://bkhotpicks.com/ Instagram: @BillFaeth73 Tik Tok: @bfaeth Learn more about your ad choices. Visit megaphone.fm/adchoices

On today's episode Bill and Kenny sit down to discuss why they believe Multi-Plexes are a safer investment in todays economy. You don't want to miss it! Contact Tyler Coon and his team to get your next Short-Term Rental property under contract! You can find Bill online at: https://www.facebook.com/groups/284886002732508 - The Free Build STR Wealth Facebook Group Build STR Wealth BK Hot Picks STR UNFILTERED Instagram: @BillFaeth73 Tik Tok: @bfaeth You can find Kenny online at: https://strinsights.com/ Instagram: @strinsights Learn more about your ad choices. Visit megaphone.fm/adchoices

This episode is Sponsored by MarketMySTR.com the STR Industries #1 marketing platform. We handle the day-to-day tasks of your short-term rental, giving you the freedom to grow your business and focus on the things that matter most. In the dynamic landscape of short-term rentals, success lies in the details. At STR Super VAs, we bring expertise to every facet of your business, ensuring those details are meticulously managed. Click here to learn more about how you can integrate VAs into your business! https://www.strvas.com/ Watch this podcast each Thursday on our YouTube Channel: https://www.youtube.com/channel/UCnheh3vx0hT5Y7uHWhBs8kA STR Data Hosts Facebook Page Instagram: Kenny_Bedwell You can find more of Bill online at: Bill Faeth Linktree: https://linktr.ee/bfaeth?utm_source=linktree_profile_share<sid=660cbc9b-4a7e-4ed9-a654-900180b83af1 Build STR Wealth: https://buildstrwealth.com/ Instagram: @BillFaeth73 Tik Tok: @bfaeth Learn more about your ad choices. Visit megaphone.fm/adchoices

In this episode of "STRonomics," hosts Bill Faeth and Kenny Bedwell discuss the opportunities and challenges of investing in urban short-term rentals, particularly in cities like New York and other urban markets. They highlight the key takeaways and insights from their discussion, including the impact of changing regulations, the importance of community sentiment, and the need for advocacy in urban markets. Key Takeaways: Urban Market Attraction: Urban markets offer higher return on investment (ROI) and less seasonality compared to vacation rental markets, making them an attractive option for short-term rental investors. Differentiation in Urban Markets: It's often easier to differentiate your property in an urban market compared to a vacation market, as there may be fewer short-term rental properties available. Risks of Regulatory Changes: Investing in urban markets comes with a higher risk of regulatory changes, such as occupancy limits and zoning restrictions. It's essential to stay informed and involved in local regulations. Form Local Associations: To protect short-term rental interests in urban markets, property owners should consider forming or joining local associations to have a collective voice in advocating for fair regulations. Understand Exit Strategies: When investing in urban markets, ensure your properties can also perform well as long-term rentals. This provides an exit strategy in case short-term rentals face challenges. Resources and Links Mentioned: Urban Markets: Some urban markets with favorable short-term rental conditions include Asheville, North Carolina; Charlotte, North Carolina; Raleigh, North Carolina; Greenville, South Carolina; Lexington, Kentucky; Memphis, Tennessee; Birmingham, Alabama; and others. Community Sentiment: Investing in markets where community sentiment is positive towards short-term rentals can reduce the risk of regulatory challenges. Local Associations: Consider forming or joining local short-term rental associations to advocate for fair regulations and stay informed about changes in your market. Exit Strategies: Ensure that your properties can perform well as long-term rentals, providing an exit strategy if short-term rentals face regulatory challenges. Conclusion: Investing in urban short-term rentals can be lucrative, but it also comes with unique challenges, particularly in dealing with changing regulations and community sentiment. Staying informed, forming local associations, and having exit strategies in place are essential for success in these markets. Remember to perform thorough due diligence before investing in any market to minimize risks. Note: The hosts emphasize the need for property owners in urban markets to stay informed and involved in local regulations and advocate for fair rules to protect short-term rental interests. Disclaimer: This podcast episode is not intended as financial or investment advice. Listeners are encouraged to conduct their research and seek professional advice before making any investment decisions. We handle the day-to-day tasks of your short-term rental, giving you the freedom to grow your business and focus on the things that matter most. In the dynamic landscape of short-term rentals, success lies in the details. At STR Super VAs, we bring expertise to every facet of your business, ensuring those details are meticulously managed. Click here to learn more about how you can integrate VAs into your business! https://www.strvas.com/ Watch this podcast each Thursday on our YouTube Channel: https://www.youtube.com/channel/UCnheh3vx0hT5Y7uHWhBs8kA STR Data Hosts Facebook Page Instagram: Kenny_Bedwell You can find more of Bill online at: Bill Faeth Linktree: https://linktr.ee/bfaeth?utm_source=linktree_profile_share<sid=660cbc9b-4a7e-4ed9-a654-900180b83af1 Build STR Wealth: https://buildstrwealth.com/ Instagram: @BillFaeth73 Tik Tok: @bfaeth Learn more about your ad choices. Visit megaphone.fm/adchoices

Welcome to this episode of STRonomics, where Kenny Bedwell and I dive into the key factors to consider before buying or not buying property. From calculating the total cost of a short term rental to mitigating risks in a volatile economy, we cover everything you need to know before making a purchase. Plus, we’ll discuss the importance of budgeting for ongoing expenses and having a long-term investment plan in place. Don’t miss out on this valuable advice from our experts! Watch this podcast each Thursday on our Youtube Channel: https://www.youtube.com/channel/UCnheh3vx0hT5Y7uHWhBs8kA Exclusive Pricelabs Offer Here! Use code BILL25 & get 25% off for the first 3 months (offer valid for new users only) Take the next step towards growing your vacation rental business by enrolling in the STR Host Academy! With our comprehensive training, you’ll get the tools you need to increase your profits, attract new guests, and dominate your competition with marketing. Don’t wait any longer to start seeing results. Enroll in the STR Host Academy today! https://www.strhostacademy.com/hostacademy Contact Tyler Coon and his team to get your next Short-Term Rental property under contract! You can find more of Bill online at: Bill Faeth Linktree: https://linktr.ee/bfaeth?utm_source=linktree_profile_share<sid=660cbc9b-4a7e-4ed9-a654-900180b83af1 The Free Build STR Wealth Facebook Group: https://www.facebook.com/groups/284886002732508 Build STR Wealth: https://buildstrwealth.com/ BK Hot Picks: https://bkhotpicks.com/ Instagram: @BillFaeth73 Tik Tok: @bfaeth Learn more about your ad choices. Visit megaphone.fm/adchoices

This episode is Sponsored by MarketMySTR.com the STR Industries #1 marketing platform. In this episode of STRonomics, hosts Bill Faeth and Kenny Bedwell, founder of STR Insights, discuss the importance of understanding one's 'why' in the realm of property investment and the role of coaching in their respective careers. They share their personal experiences and motivations, emphasizing the act of giving to enrich others' lives and the fulfillment it brings. They also talk about developing confidence through community and shared experiences. The episode concludes with a reminder for listeners to create their team of specialists and the importance of figuring out the deeper reasons that drive their 'why'. 00:00 Introduction and Casual Banter 01:41 Understanding the 'Why' Behind Our Actions 02:53 The Importance of Knowing Your 'Why' in Property Investment 04:19 The Journey to Starting STR Insights 08:10 The Impact of Mastermind Groups and Community 11:23 The Birth of STR Insights 14:22 The Value of Collaboration and Shared Expertise 24:52 The Importance of Not Going It Alone 26:19 Conclusion: The 'Why' Before the 'Why' Watch this podcast each Thursday on our YouTube Channel: https://www.youtube.com/channel/UCnheh3vx0hT5Y7uHWhBs8kA STR Data Hosts Facebook Page Instagram: Kenny_Bedwell You can find more of Bill online at: Bill Faeth Linktree: https://linktr.ee/bfaeth?utm_source=linktree_profile_share<sid=660cbc9b-4a7e-4ed9-a654-900180b83af1 Build STR Wealth: https://buildstrwealth.com/ Instagram: @BillFaeth73 Tik Tok: @bfaeth Learn more about your ad choices. Visit megaphone.fm/adchoices

On today's episode Bill and Kenny sit down to discuss unique properties that will survive an economic downturn. You don't want to miss it! Contact Tyler Coon and his team to get your next Short-Term Rental property under contract! You can find Bill online at: https://www.facebook.com/groups/284886002732508 - The Free Build STR Wealth Facebook Group Build STR Wealth BK Hot Picks STR UNFILTERED Instagram: @BillFaeth73 Tik Tok: @bfaeth You can find Kenny online at: https://strinsights.com/ Instagram: @strinsights Learn more about your ad choices. Visit megaphone.fm/adchoices

This episode of STRonomics is proudly sponsored by MarketMySTR.com, the leading marketing platform for STR Industries. Join us on this episode of STRonomics as Kenny and Bill delve into their summer experiences and the evolving market landscape. Kenny kicks off by highlighting his new properties and the contrasting demand shift this summer. While the Average Daily Rate (ADR) may have dipped, the remarkable 95% occupancy rate this season, up from last year's 87%, has caught his attention. The conversation steers towards Bill's intriguing 'Super Properties' versus his regular ones, shedding light on distinct traffic drivers. Bill opens up about a downturn in his portfolio, which he's leveraging to innovate fresh guest acquisition approaches. Kenny shares a pivotal moment from January when his properties faced a profitability setback. He unveils his strategy of enlisting skilled virtual assistants to streamline research and pricing analysis. Delegating tasks allows Kenny to channel his focus into pioneering marketing tactics. Wrapping up, they delve into the pivotal aspect of property valuation's impact on marketing and daily rate structuring. They stress the need for adaptive marketing strategies based on property value, especially when not dealing with a 'Super Property,' necessitating tweaks in lead time generation strategies. [00:03] Introducing STRonomics [00:20] How Was Your Summer? [01:30] Kenny’s New Property [07:28] Traffic Drivers [08:45] Portfolio Numbers [12:20] Buffalo Properties [15:38] Researching [16:50] True Value [20:00] Wrapping Up We handle the day-to-day tasks of your short-term rental, giving you the freedom to grow your business and focus on the things that matter most. In the dynamic landscape of short-term rentals, success lies in the details. At STR Super VAs, we bring expertise to every facet of your business, ensuring those details are meticulously managed. Click here to learn more about how you can integrate VAs into your business! https://www.strvas.com/ Watch this podcast each Thursday on our YouTube Channel: https://www.youtube.com/channel/UCnheh3vx0hT5Y7uHWhBs8kA STR Data Hosts Facebook Page Instagram: Kenny_Bedwell You can find more of Bill online at: Bill Faeth Linktree: https://linktr.ee/bfaeth?utm_source=linktree_profile_share<sid=660cbc9b-4a7e-4ed9-a654-900180b83af1 Build STR Wealth: https://buildstrwealth.com/ Instagram: @BillFaeth73 Tik Tok: @bfaeth Learn more about your ad choices. Visit megaphone.fm/adchoices

This episode of STRonomics is proudly sponsored by MarketMySTR.com, the leading marketing platform for STR Industries. In this episode of STRonomics, hosts Bill Faeth and Kenny Bedwell dive into the complexities of the short-term rental market, offering insights on how to stay ahead despite challenges like increased regulation, market saturation, and rising interest rates. They discuss the importance of identifying market trends early, using dynamic pricing, and avoiding the pitfalls of excessive fees that can deter potential guests. The podcast also introduces Market My STR, an all-in-one marketing platform designed to streamline host efforts and enhance guest experiences. Bill and Kenny explore strategies for adjusting minimum night stays, cancellation policies, and fees according to seasonality and demand, emphasizing the importance of flexibility and customer experience in maximizing bookings and revenue. Highlighting the psychological impact of pricing transparency and fair fee structures, they advise hosts on maintaining an attractive and competitive listing through various market conditions. 00:00 Navigating the Complex World of Short-Term Rentals 00:28 Introducing Market My STR: The Ultimate Marketing Platform 01:26 Diving Into STRonomics: Insights and Banter 01:52 Unpacking Pricing Strategies and Seasonal Booking Trends 09:42 The Hidden Costs: Extra Fees and Their Impact on Guests 21:49 Optimizing Your Listing: Beyond Just Pricing 25:09 Wrapping Up: Key Takeaways on STR Management We handle the day-to-day tasks of your short-term rental, giving you the freedom to grow your business and focus on the things that matter most. In the dynamic landscape of short-term rentals, success lies in the details. At STR Super VAs, we bring expertise to every facet of your business, ensuring those details are meticulously managed. Click here to learn more about how you can integrate VAs into your business! https://www.strvas.com/ Watch this podcast each Thursday on our YouTube Channel: https://www.youtube.com/channel/UCnheh3vx0hT5Y7uHWhBs8kA STR Data Hosts Facebook Page Instagram: Kenny_Bedwell You can find more of Bill online at: Bill Faeth Linktree: https://linktr.ee/bfaeth?utm_source=linktree_profile_share<sid=660cbc9b-4a7e-4ed9-a654-900180b83af1 Build STR Wealth: https://buildstrwealth.com/ Instagram: @BillFaeth73 Tik Tok: @bfaeth Learn more about your ad choices. Visit megaphone.fm/adchoices

This episode of STRonomics is proudly sponsored by MarketMySTR.com, the leading marketing platform for STR Industries. In this episode of STRonomics, Bill Faeth and Kenny Bedwell discuss the impact of increasing regulation, market saturation, and rising interest rates on short-term rentals investment. They shed light on the importance of staying ahead of the curve and being able to identify trends before they happen. They also delve into the key features of 'Market My STR', a comprehensive marketing platform designed for short-term rental hosts, discussing how it can streamline marketing efforts, improve hosts' communication with guests, and overall enhance the short-term rental business. The episode also delves into specifics about saturation in markets with examples from Kissimmee to Blue Ridge, and highlights the best strategies for property investment amidst growing market competition. 00:00 Introduction to Short Term Rentals 00:28 The Power of Market My STR 01:26 Behind the Scenes: Outtakes and Insights 01:40 Understanding Market Shifts and Trends 01:50 The Story of Logan, Ohio 02:23 The Importance of Data Analysis in Investment 04:06 The Impact of Market Size on Investment 05:22 The Role of Purchase Price and Revenue in Investment 06:09 The Effect of Market Saturation on Investment 07:38 The Impact of Subdivisions on Market Saturation 09:25 The Importance of Unique Property Features 10:26 The Role of Demand in Investment 16:59 The Importance of Proximity in Investment 19:51 The Key Factors that Shift Markets 21:14 Conclusion: The Importance of Great Photos We handle the day-to-day tasks of your short-term rental, giving you the freedom to grow your business and focus on the things that matter most. In the dynamic landscape of short-term rentals, success lies in the details. At STR Super VAs, we bring expertise to every facet of your business, ensuring those details are meticulously managed. Click here to learn more about how you can integrate VAs into your business! https://www.strvas.com/ Watch this podcast each Thursday on our YouTube Channel: https://www.youtube.com/channel/UCnheh3vx0hT5Y7uHWhBs8kA STR Data Hosts Facebook Page Instagram: Kenny_Bedwell You can find more of Bill online at: Bill Faeth Linktree: https://linktr.ee/bfaeth?utm_source=linktree_profile_share<sid=660cbc9b-4a7e-4ed9-a654-900180b83af1 Build STR Wealth: https://buildstrwealth.com/ Instagram: @BillFaeth73 Tik Tok: @bfaeth Learn more about your ad choices. Visit megaphone.fm/adchoices

Kenny and I deep dive into the biggest mistakes and pitfalls when analyzing property and the very best advice on researching your perfect property and ideal market! [1:25] How people analyze a property [5:00] Hotel data & comparable properties [8:20] Kenny's data breakdown [15:26] StrInsights benefits [18:00] Seeing the property first [21:35] Avery Carl’s Enemy Method [23:10] Knowing a market Watch this podcast each Thursday on our Youtube Channel: https://www.youtube.com/channel/UCnheh3vx0hT5Y7uHWhBs8kA Exclusive Pricelabs Offer Here! Use code BILL25 & get 25% off for the first 3 months (offer valid for new users only) Take the next step towards growing your vacation rental business by enrolling in the STR Host Academy! With our comprehensive training, you’ll get the tools you need to increase your profits, attract new guests, and dominate your competition with marketing. Don’t wait any longer to start seeing results. Enroll in the STR Host Academy today!  https://www.strhostacademy.com/hostacademy You can find more of Bill online at: Bill Faeth Linktree: https://linktr.ee/bfaeth?utm_source=linktree_profile_share<sid=660cbc9b-4a7e-4ed9-a654-900180b83af1 The Free Build STR Wealth Facebook Group: https://www.facebook.com/groups/284886002732508 Build STR Wealth: https://buildstrwealth.com/ BK Hot Picks: https://bkhotpicks.com/ Instagram: @BillFaeth73 Tik Tok: @bfaeth Learn more about your ad choices. Visit megaphone.fm/adchoices

Bill and Kenny dive into the challenges faced by short-term rental investors amidst increasing regulations, market saturation, and rising interest rates. They discuss strategic investments and the timing of buying properties, emphasizing the importance of constant market vigilance and prudent financial planning. The episode also explores the implications of market trends and the benefits of using Market My STR's platform for streamlined marketing efforts. Listeners are encouraged to make informed purchasing decisions and stay adaptable in a competitive and fluctuating market. https://go.buildstrwealth.com/tour 00:00 Introduction to STRonomics 00:28 Market My STR: The Ultimate Marketing Platform 01:26 Should You Buy or Wait? 01:45 Personal Investment Stories and Strategies 02:52 Current Market Trends and Predictions 12:24 The Importance of Constantly Looking for Deals 13:25 Challenges in Vacation Rental Markets 19:26 Design and Investment Tips for Super Properties 21:08 Conclusion and Upcoming Events We handle the day-to-day tasks of your short-term rental, giving you the freedom to grow your business and focus on the things that matter most. In the dynamic landscape of short-term rentals, success lies in the details. At STR Super VAs, we bring expertise to every facet of your business, ensuring those details are meticulously managed. Click here to learn more about how you can integrate VAs into your business! https://www.strvas.com/ Watch this podcast each Thursday on our YouTube Channel: https://www.youtube.com/channel/UCnheh3vx0hT5Y7uHWhBs8kA STR Data Hosts Facebook Page Instagram: Kenny_Bedwell You can find more of Bill online at: Bill Faeth Linktree: https://linktr.ee/bfaeth?utm_source=linktree_profile_share<sid=660cbc9b-4a7e-4ed9-a654-900180b83af1 Build STR Wealth: https://buildstrwealth.com/ Instagram: @BillFaeth73 Tik Tok: @bfaeth Learn more about your ad choices. Visit megaphone.fm/adchoices