The 'Two Extra Steps' to Airbnb Excellence | Pace Morby

Bill sits down with Pace Morby to debunk myths about the profitability and viability of Airbnb. Bill, known for his highly successful short-term rental strategies and large events, shares his expertise on how to transform average properties into 'super properties.' The discussion explores the importance of marketability, meticulous property searches, and maintaining high standards for quality and cleanliness. Bill emphasizes the value of hands-on management, providing personalized guest experiences, and continuous engagement in the market. He contrasts his methodical approach with the common, lazy practices that lead to subpar performance in short-term rentals. The conversation touches upon Bill's personal journey, his successful business ventures, and his strategic investments in locations set to boom, such as Whitefish, Montana. Additionally, Bill shares insights on innovative methods like using CRM software for direct bookings and nurturing guest relationships. The episode highlights the principle of 'two extra steps,' a concept Bill is writing a book on, which signifies doing what others are unwilling to do. This approach has not only set him apart in the real estate industry but also in life, emphasizing continuous growth and adaptation. The episode concludes with the announcement of Bill’s upcoming real estate event in Nashville and his new book release, promising valuable takeaways for anyone looking to excel in the short-term rental market. https://www.marketmystr.com/ 00:00 Introduction 00:04 Airbnb: Debunking the Myths 00:16 Bill Faeth's Background and Event Highlights 00:35 Montana and Personal Life 01:13 Airbnb Strategies and Success Stories 03:34 The Importance of Sales and Marketing 04:22 Two Extra Steps Philosophy 10:57 Challenges in the Airbnb Industry 13:45 Consistency and Quality in Short-Term Rentals 27:38 Personal Stories and Early Ventures 32:45 Flipping Success and Market Trends 33:58 Fast Money, Medium Money, Slow Money 34:45 Personality Types and Investment Goals 38:26 The Importance of Patience in Real Estate 38:50 Questioning the Value of College 42:21 The Power of Consistency and Persistence 43:52 Evaluating and Repositioning Properties 46:29 The Impact of Community and Networking 52:50 The Value of Super Properties 01:00:06 Upcoming Real Estate Event ➡️ Connect with us: • Join Our Facebook Group: https://www.facebook.com/groups/284886002732508  • Check Out Our website: https://buildstrwealth.com/  • Bill’s Instagram: https://www.instagram.com/billfaeth73 • Brea’s Instagram: https://www.instagram.com/breafaeth/  • TikTok: https://www.tiktok.com/@bfaeth  On Bill Faeth Unfiltered, Bill Faeth breaks down the ins and outs of short-term rental hosting, giving listeners actionable advice that they can use to take their businesses to the next level. Subscribe/Follow so you never miss an episode! #BFUnfiltered #BillFaeth #STR Learn more about your ad choices. Visit megaphone.fm/adchoices