How I Acquired a $3M Home for Free

Bill Faeth Unfiltered

Jul 02, 2024•22 min•Ep. 145

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Episode description

Bill shares his strategy for reducing dependence on Online Travel Agencies (OTAs) and boosting direct bookings. He discusses his '550 250 Plan,' which aims to generate $250,000 in income over five years with five properties, each netting over $50,000. Bill details his latest $3 million property purchase in Montana, funded through strategic sales and creative financing. He breaks down essential components of sound investing: cash flow, appreciation, tax benefits, and debt paydown, and provides actionable insights into acquiring and managing profitable short-term rental properties.

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00:00 Introduction to STR Unfiltered

00:17 The Power of StayFi for Email List Building

01:18 Exclusive StayFi Discount Offer

01:54 Buying a $3 Million Property for Free

03:23 The 550 250 Plan Explained

03:50 Case Study: Banner Elk Property

05:27 Finding and Evaluating Deals

06:44 Case Study: Gulf Shores Property

08:09 Case Study: Coram Condo

11:25 Executing the 550 250 Plan

13:06 Four Core Components of Sound Investing

21:30 Conclusion and Next Steps

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On STR 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.