The most important skill you need as an STR Investor

StayFi | Use Code BILL to Get 50% Off Your First 3 Months with StayFi! This episode is Sponsored by MarketMySTR.com the STR Industries #1 marketing platform. In this episode of STR Unfiltered, host Bill Faeth, founder of numerous start-ups including 'Build Short Term Rental Wealth', delves into what he believes is the most crucial skill in real estate investment: underwriting. Bill reveals that although often overlooked or simplified by other investors, accurate and comprehensive underwriting is vital to mitigate risk and to build a prosperous portfolio in real estate. He emphasizes the importance of understanding all aspects of your investment, from operating expenses to cashflow, and warns against solely relying on simplified online calculators and realtor's numbers. Bill further suggests multiple scenarios for financial performance based on various financial aspects should be considered before deciding to invest. 00:01 Introduction and Host Background 00:17 The Importance of Underwriting in Real Estate 00:55 Understanding the Big Daddy Performa 02:26 The Pitfalls of Misunderstanding Operating Expenses 04:01 The Dangers of Overconfidence in Real Estate Investing 04:50 The Importance of Running Multiple Performas 07:44 The Role of Financing Scenarios in Underwriting 08:34 The Importance of Robust Data and Information 09:52 The Importance of Cash Flow and the Dangers of Ignoring It 10:03 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