If you don’t have a plan how do you know what to invest in? Bill Faeth, a self proclaimed serial entrepreneur, gets into how to architect your life before you invest in a short term rental. One strategy Bill uses to build his portfolio is investing by following the pod system. He buys large cash flow rentals to support the smaller rentals he and his wife will eventually retire in.

Bill co-hosts a small portfolio, and focuses on marketing each one of the rentals he works with. His goal is to make clients more money so he is able to raise his rates. If you want to self-manage and learn how to market off platform, Bill is getting into strategies he uses for his own properties. Now that demand is coming down, marketing yourself well is a need in today’s world.

Insurance, contracts, signs, and LLCs are an important topic not many people talk about in the STR world. Being properly insured is a back up for you as the owner if something bad happens at one of your rentals (like someone slipping on icy steps). Planning for everything will give you a clear path to follow on your STR journey. Your plan may change again and again, but don’t leave anything up to chance.

Blue Gems Management- https://bluegemsmgmt.co

STR Meet Up- https://bluegemsgroup.com

Where to connect with Bill

Instagram- @billfaeth73

Tik Tok- @bfaeth

[00:00] Episode teaser

[00:35] Show intro

[01:08] Bill’s background

[02:27] Current portfolio and how he adds to it

[07:26] Bill’s responsibility as a co-host

[11:48] Marketing off platform and the logistics behind it

[19:31] Blue Gems Management

[19:59] Current split on bookings between platforms

[23:56] Direct booking from a legal standpoint

[30:41] Advice for new STR investors

[31:45] A day in the life of Bill Faeth

[33:44] The last blue gem

[36:59] Where to find Bill Faeth

[38:01] Wrapping it up