Finding and Creating Super Properties with Bill Faeth

In this episode of the STR Data Lab, Jamie Lane, Chief Economist at AirDNA, sits down with Bill Faeth, a seasoned real estate investor and founder of Build Short-Term Rental Wealth. With over 30 years of investing experience and a knack for turning ordinary homes into extraordinary performers, Bill unpacks what it really takes to create a super property—a short-term rental (STR) that consistently outpaces the competition.

Whether you’re an aspiring host or a portfolio pro, this episode will change how you think about Short-Term Rental (STR) properties. From grading investments to leveraging natural assets, Bill shares actionable insights to help you build profitable, scalable, and standout short-term rentals in any market, especially in today’s economic climate.

Here’s what you can expect from this episode:

Discover the core characteristics of a super property and why it’s not about size.
Learn how to identify and capitalize on market gaps with strategic grading tools.
Get tips for avoiding the most common STR investment pitfalls.
Understand how to use super property management to increase occupancy and drive return on investment (ROI).
Hear why outdoor space and views often matter more than a luxury interior.

Episode Highlights

Introduction

Jamie opens the episode by welcoming Bill Faeth and highlighting his unique investment philosophy. Bill discusses how a friendly golf game in Nashville sparked his shift from long-term rentals to short-term investing back in 2015. Since then, he’s scaled a multi-million dollar portfolio by staying laser-focused on quality over quantity.

What is a Super Property?

Forget size—Bill redefines the term “super property” as a top-performing rental that beats market expectations. Whether it’s a six-bedroom in Gulf Shores, Alabama or a one-bedroom ski-in/ski-out condo in Whitefish, Montana, it’s the property's location, view, and marketability—not square footage—that drives revenue.

According to Bill, a super property performs in the top 10% of revenue potential based on bedroom count and location.

How Bill Grades STR Properties

Bill introduces the Super Property Grader, a tool he built to evaluate 10 critical factors—location, proximity, views, amenities, photo quality, and more. This grading system helps him spot hidden gems, avoid compromises, and unlock the full revenue potential of an STR property. It’s not just about data analysis—it’s about understanding how to turn that data into dollars.

The Power of Outdoor Appeal

The biggest investment mistake? Focusing too much on interior upgrades. Bill urges investors to “buy what God built”—prioritizing properties with unbeatable views, walkable access to natural features, and strong proximity advantages. He gives examples of how a $250 telescope and a well-placed sauna helped him double annual revenue on a riverfront Montana property.

Avoiding the Most Common Mistakes

According to Bill, many investors rush the process and compromise on properties that don’t truly fit their strategy. Others underestimate the power of design, market differentiation, and patient deal sourcing. Bill shares how long it took him to find some of his best-performing properties—and why waiting for the right one pays off.

Finding Underrated Markets

From Banner Elk to Fort Morgan, Bill talks about his strategy of targeting tertiary markets rather than saturated hotspots like Big Sky, Montana or Destin, Florida. He looks for markets with multiple traffic drivers, limited competition, and strong appreciation potential. This segment is full of tips for using STR properties in lesser-known areas to outperform the big names.

Why Now Is the Time to Invest

Despite economic uncertainty, Bill sees opportunity. With many hosts spooked by high interest rates and lower earnings, it’s the perfect time for savvy investors to pounce. He discusses why deals made today, at current rates and prices, could set up massive wins when conditions improve.

This episode is packed with insights for anyone serious about building wealth through short-term rentals. Bill’s advice challenges conventional wisdom and offers a new lens for evaluating investments. His approach to super property management emphasizes patience, strategic grading, and creative leverage of natural assets.

Connect with Bill Faeth

Want to evaluate your next investment like Bill? Try his Super Property Grader and see how your potential purchase stacks up.

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LinkedIn: https://www.linkedin.com/in/jamiehlane/

Twitter: https://twitter.com/Jamie_Lane

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LinkedIn: https://www.linkedin.com/in/sagescott

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LinkedIn: https://www.linkedin.com/company/airdna/

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