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By Bill Faeth & Kenny Bedwell
4.9
5252 ratings
The podcast currently has 104 episodes available.
Bill and Kenny delve into the complexities of investing in short-term rentals amidst increasing regulations, market saturation, and rising interest rates. They discuss the critical aspects of underwriting, focusing on debt service, expenses, and revenue estimation. They emphasize the importance of realistic assumptions, strategic planning, and emotional detachment when evaluating investment properties. Whether you are a newcomer or a seasoned host, this episode provides valuable insights and practical advice to elevate your short-term rental business.
https://go.buildstrwealth.com/tour
00:00 Introduction to STRonomics
01:26 Welcome and Guest Introduction
01:40 Deep Dive into Underwriting
02:43 Key Underwriting Mistakes
07:00 Real-Life Examples and Lessons
16:46 Strategic Planning for Investments
22:27 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
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
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
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 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
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
Bill Faeth and Kenny Bedwell delve into the current economic landscape affecting short term rentals, including increasing regulations, market saturation, and rising interest rates. They highlight key strategies for staying ahead of the market and discuss crucial topics such as interest rates, the phasing out of accelerated depreciation, and potential changes to capital gains taxes. The conversation also explores the impact of political influences on the economy, consumer confidence, and investment decisions. The episode underscores the importance of market and property selection to optimize profitability and mitigate risks in an evolving market.
00:00 Introduction: The Challenges Facing Short-Term Rentals
01:26 Meet the Hosts: Bill Faith and Kenny Bedwell
01:52 Current Economic Landscape and Interest Rates
06:31 Impact of Political Climate on Real Estate
08:14 Consumer Confidence and Market Predictions
19:09 The Future of Short-Term Rentals
21:22 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 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
Bill Faeth and Kenny Bedwell delve into strategies for staying profitable amidst challenges such as decreasing average daily rates (ADRs), increasing competition, and market saturation. They emphasize the importance of adjusting pricing strategies, enhancing property features, and leveraging marketing tools to boost occupancy rates and overall revenue. The conversation also covers the significance of investment in high-quality property photography, dynamic pricing techniques, and ancillary services as means to increase profit margins. This episode not only addresses how to navigate through dropping ADRs but also highlights ways to capitalize on market trends, guest preferences, and technological tools to ensure STR business success.
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 Welcome Back to STRonomics: Insights from Industry Experts
01:34 Navigating the Changing Landscape of Short-Term Rentals
03:36 Strategies for Maximizing Revenue in a Competitive Market
16:09 Leveraging Photography and Additional Amenities for Increased Bookings
19:59 Wrapping Up: The Importance of Revenue and Profit Focus
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
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