#225: Why Short-Term Rental Investors Are Playing the Wrong Game — Bill Faeth

Most short-term rental investors chase the same popular markets, list on Airbnb, and hope for the best. Bill Faeth built a completely different system — and it's generating results most STR investors never see.

In this episode, Chris sits down with Bill Faeth — USA Today best-selling author, serial entrepreneur with 43 startups, and one of the most creative short-term rental investors in the country. Bill owns properties across 7 markets, has flipped 27 homes generating over $3 million in net profit, and built an AI-powered research system that identifies undervalued STR markets before the crowd arrives. His approach to short-term rentals is unlike anything you've heard on this show.

In this episode you'll learn:

Why Bill targets secondary and tertiary markets near major attractions instead of competing in saturated destinations

How he identifies markets experiencing "pain" — and why that's exactly where the opportunity lives

His AI-powered research system that goes beyond T12 metrics — examining economic development, zoning changes, and city council minutes

His four-part investment framework: cash flow, appreciation rate, debt paydown, and tax benefits

Why he negotiates with 10–12 banking options on every single deal

How he turned a $1.6 million property in Banner Elk, NC into a high-producing super property without expensive amenities

His repositioning strategy — moving a $400K property to $600K, then to $900K–$1M at sale

Why he's targeting 70% direct bookings within 18–24 months and how he's getting there

How he diversifies across 7 markets to ensure year-round revenue