4 Skills You Must Have To Be A Successful STR Investor

StayFi | Use Code BILL to Get 50% Off Your First 3 Months with StayFi! Ready to go from a Good to Great STR Investor? Download the same exact Proforma both Jon “The Bank Whisperer” Hodge and I both use to Underwrite our personal investments and for Rivan Capital group. Free Training included with this free download. Download Here - https://buildstrwealth.com/proforma This episode is Sponsored by MarketMySTR.com the STR Industries #1 marketing platform. In this episode, Bill Faeth, an experienced real estate entrepreneur, shares key elements necessary for success in short-term rental investments. He stresses treating each property as an individual business and highlights four core components: Market Selection, involving choosing a location, submarket, and property counts; Underwriting, where thorough diligence and periodic cash on equity audits are essential; Marketing, engaging in promotional strategies such as buy-sell-trade groups, and email marketing; and Revenue Management, focusing on strategies like leveraging cancellation policies, optimizing pricing and managing expenses to maximize net income. Bill emphasizes the importance of keeping these elements in balance to transition from being an average to a successful real estate investor. 00:01 Introduction and Background 00:46 The Journey of Real Estate Investment 01:26 The Importance of Experience and Learning in Investment 02:06 The Reality of Real Estate Investment 05:22 The Importance of Market Selection 06:38 The Story of a Successful Investment 06:48 Understanding Sub Markets 12:21 The Importance of Underwriting 22:17 The Role of Marketing in Real Estate Investment 27:15 The Importance of Revenue Management 34:13 Conclusion and Final Thoughts Watch this episode on our YouTube Channel Every Tuesday & Friday https://www.youtube.com/channel/UCnheh3vx0hT5Y7uHWhBs8kA The Free Build STR Wealth Facebook Group: https://www.facebook.com/groups/284886002732508 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