Afleveringen
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Bill welcomes Ryan Bakke, a tax strategist, who discusses essential tax-saving strategies for entrepreneurs, property owners, and real estate investors. Ryan emphasizes the importance of proper bookkeeping and having a CPA for effective tax planning and minimizing audit risks. They discuss using quarterly meetings with CPAs for accurate tax estimates and prepaying taxes to avoid penalties. Ryan explains the value of paying children for business tasks, contributing to their Roth IRAs, and ensuring proper documentation for IRS compliance. The duo also highlights the benefits of cost segregation studies to offset W2 income for STR owners who meet material participation requirements. They stress the importance of planning and executing tax strategies before the end of the fiscal year. Ryan gives actionable advice on prepaying for business expenses and leveraging retirement accounts. You don't want to miss this episode!
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00:00 Introduction to Bill Faeth Unfiltered
00:14 Revolutionary Product: StayFi
01:10 Exclusive StayFi Offer
01:47 Meet Tax Expert Ryan Bakke
02:31 Tax Strategies for Business Owners
03:35 Importance of Proper Bookkeeping
06:52 Prepaying Estimated Taxes
10:09 Solo 401k and Retirement Planning
16:27 Paying Your Kids: The Ultimate Tax Hack
20:42 Cost Segregation Strategies
25:12 Conclusion and Contact Information
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• Check Out Our website: https://buildstrwealth.com/
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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.
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Bill welcomes Sam Rubin, the founder of the top luxury concierge service, DONE Concierge Service, based in Park City. Sam shares his journey from the restaurant business and email marketing in Huntsville, Alabama, to managing a high-end ground transportation company and luxury concierge service. Sam discusses the importance of exceptional guest services, such as personalized grocery deliveries and transportation, and how they can elevate short-term rental experiences. He emphasizes the value of building relationships over transactions and offers practical tips for property managers to implement similar services. The episode also highlights how these premium services can transform guest impressions and lead to increased bookings and revenue.
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00:00 Introduction to Bill Faeth Unfiltered
00:14 Revolutionizing Bookings with StayFi
01:10 Exclusive Offer: 50% Off StayFi
01:50 Special Guest: Sam Rubin
02:41 Sam Rubin's Journey to Park City
08:03 From Uber Driver to Luxury Transportation
11:03 Navigating COVID with Tony Hsieh
15:29 Expanding Services with Abode
18:16 Launching DONE Concierge Services
19:39 Catering and Family Meals for Large Groups
20:15 The Importance of Connections in Service Delivery
21:30 Enhancing Guest Experience with Personalized Services
22:11 Innovative Grocery Delivery Solutions
27:13 The Impact of First and Last Impressions
29:29 Starting Concierge Services: Tips and Advice
31:21 Monetizing Additional Services
37:07 Conclusion and Final Thoughts
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• Check Out Our website: https://buildstrwealth.com/
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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.
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Bill explores the power of email marketing to increase direct bookings for short-term rental properties. He shares practical strategies including leveraging tools like StayFi for email capture and Market My STR for comprehensive marketing automation. Bill emphasizes the importance of building a 200-day email funnel to foster repeat bookings and discusses how integrating personalized content and multiple communication channels can enhance guest loyalty. He also offers insights into using research tools like ChatGPT and Jasper.ai for creating effective marketing content. The episode provides actionable steps to turn short-term rental businesses into profit-generating and future-proofed ventures.
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00:00 Introduction to Email Marketing for Short-Term Rentals
00:17 The Power of Repeat Bookings
00:54 Email Marketing: The Key to Direct Bookings
01:20 Tools for Effective Email Marketing
01:58 Building a 200-Day Email Funnel
03:16 Using AI for Research and Copywriting
05:58 Content Strategy for the 200-Day Funnel
13:28 Personalization and Automation
16:03 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.
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MarketMySTR: https://www.marketmystr.com/
Co-hosting Business Masterclass: https://buildstrwealth.com/cohost
5/50/250 Plan: buildstrwealth.com/550250masterclass
In this episode you'll learn how to break into the Airbnb business without owning a property by becoming a co-host. Bill explains the process, addressing common questions about co-hosting, required skills, and how to make money. He contrasts co-hosting with the riskier Airbnb arbitrage model and provides insights on how to manage and profit from co-hosting ethically. By the end, viewers will have actionable steps to start their short-term rental journey, including marketing strategies and scaling tips to make significant income without upfront investment.
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00:00 Introduction to Starting Airbnb with No Money
00:11 Why Co-Hosting is the Best Option
01:00 The Pitfalls of Arbitrage
02:16 Understanding Airbnb Co-Hosting
03:13 Transparency in Co-Hosting
05:19 Financial Setup and Scaling
08:22 Maximizing Earnings and Scaling Up
13:05 Targeting High-End Markets
14:24 Building a Brand and Acquiring Clients
19:52 Conclusion and Masterclass Invitation
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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.
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Bill welcomes Brianna Chavis, a resilient co-host in the short-term rental (STR) industry. Brianna shares her remarkable journey overcoming significant adversities, including losing her home to a fire and enduring hurricane damages. The discussion highlights her transition from real estate investing to co-hosting to recover financially, underscoring the importance of resilience, safety measures, and proper insurance coverage. Brianna's experiences offer valuable lessons in reviewing insurance policies, ensuring adequate coverage, and the financial implications of policy changes. The episode also emphasizes the strength in community and gratitude towards mentorship. Listeners are encouraged to subscribe for more insightful content.
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00:00 Introduction and Event Promotion
00:53 Meet Brianna Chavis: A Story of Resilience
01:44 The Day Everything Changed
04:44 Insurance Woes and Lessons Learned
10:18 Navigating Post-Disaster Challenges
11:15 Building a Co-Hosting Business
11:42 Financial Struggles and Survival
12:32 Fire Safety and Property Management
14:36 Success Stories and Case Studies
16:29 Overcoming Natural Disasters
17:20 Lessons Learned and Future Plans
19:29 Final Thoughts and Gratitude
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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.
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Bill sits down with Austin Palacios, a wealth manager turned short-term rental investor, to discuss his journey into the rental market and the establishment of his Airbnb property management business in Southern Florida. The conversation reveals strategies for managing and scaling a property portfolio, particularly focusing on high-revenue, luxury properties with pools. Key insights include effective customer acquisition, building authority in a single market, and leveraging inbound marketing. Practical advice such as maintaining a manageable number of properties, using Zoom consultations, and integrating sales and marketing efforts is shared. The importance of building trust and demonstrating value before pitching is emphasized, with further guidance on avoiding common mistakes and ensuring consistent follow-up with potential clients.
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00:00 Welcome to STR Unfiltered with Bill Faith and Austin Palacios
00:37 Austin's Journey from Wealth Management to Real Estate
01:41 Diving into the Co-Hosting Business
02:49 Challenges and Learning in Property Management
06:01 Exploring Austin's Property Portfolio
09:53 Customer Acquisition Strategies in Co-Hosting
10:55 Lead Generation Strategies
11:23 Sales and Marketing Integration
11:42 Building a Top Airbnb Portfolio
12:16 Effective Co-Hosting Techniques
13:21 Scaling and Managing Properties
15:26 Mastering Sales Calls
17:15 Inbound Marketing and Value Addition
20:55 Final Thoughts and Key Takeaways
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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.
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Bill discusses the critical importance of evaluating real estate agents when purchasing property. He outlines four essential criteria every agent must meet, highlighting the necessity of running your own numbers and underlining the pitfalls of relying solely on agents' calculations. Bill shares his experiences with top agents such as Avery Carl and Tyler Coon, emphasizing the significance of an agent's experience and their involvement in the short-term rental market. He stresses the importance of agents speaking the industry lingo and owning short-term rentals themselves, providing insights into the best practices for property investment. Bill concludes with advice on focusing on strategic property deals rather than just large-scale investments.
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00:00 Introduction to STR Unfiltered
00:05 Why You Shouldn't Trust Your Real Estate Agent
00:52 The Importance of Running Your Own Numbers
04:37 Using Data Tools for Accurate Projections
06:03 The Significance of STR Sales Experience
08:11 Speaking the STR Lingo
09:43 The Value of Agent Ownership
10:55 Conclusion and Final Thoughts
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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.
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Bill outlines a comprehensive guide to becoming the number one property in your market by focusing on location, views, proximity, unique amenities, and guest-centric design. With specific examples from successful properties, it highlights the importance of a best location that cannot be replicated, ensuring top views, proximity to desired attractions, and offering distinctive amenities. The focus is also on designing for an ideal guest persona, such as 'Wealthy Wendy,' to create an appealing and marketable property. BIll concludes with three bonus strategies, including buying properties wisely, innovating with unique amenities, and leveraging a strong guest profile.
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00:00 Introduction: Becoming the Top Property in Your Market
00:24 Tip 1: Best Location
02:19 Tip 2: Top Views
04:50 Tip 3: Proximity
06:40 Tip 4: Unique Amenities
10:38 Tip 5: Design for Your Ideal Guest
11:37 Bonus Tips for Success
14:25 Conclusion and Final Thoughts
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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.
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Bill walks listeners through the challenges that short-term rental property owners will face in 2024, identifying seven key components to address: Market Saturation, Market Selection, The Kardashian Effect, Budget, Pricing Strategies, Debt Control, and Proforma Use. Faye emphasizes the importance of unique amenities, competitive pricing, and efficient property setup. Additionally, he advises on prudent financial management and the strategic timing of property investments to ensure long-term success. Tune in for actionable insights to enhance your short-term rental investments.
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Unlock Your Potential with Our EXPERT Proforma: https://buildstrwealth.com/proforma
Bootcamp Tour: https://go.buildstrwealth.com/tour
00:00 Introduction to STR Unfiltered
00:16 Revolutionary Product: StayFi
01:50 Meet Your Host: Bill Faith
02:45 Challenges in 2024 and Solutions
03:39 Market Saturation and Selection
13:17 The Kardashian Effect in Property Marketing
18:25 Budgeting for Success
20:19 Effective Pricing Strategies
22:23 Managing Debt and Investment Strategies
25:04 Conclusion and Final Thoughts
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• Check Out Our website: https://buildstrwealth.com/
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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.
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Bill sits down with Erik Courson from STR Tech Talk to discuss essential technology and automation tips for short-term rental hosts. They dive into the importance of getting hands-on experience before adopting advanced platforms like OwnerRez, the value of mobile experience, and the critical role of guest messaging. Erik shares insights on using platforms such as Hospitable for better messaging management, integrating AI for optimizing pricing, and the importance of learning from communities. Practical advice is given for both beginners and more experienced hosts on leveraging technology to improve hosting capabilities.
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00:00 Welcome to STR Unfiltered with Erik Courson
00:24 Starting with Technology in STR
01:44 Mobile vs. Laptop for STR Management
02:33 Importance of Guest Messaging
05:20 Advanced Automations and AI in STR
08:09 Building Custom Reports and Dashboards
09:00 Advice for Experienced Hosts
09:30 The Value of Community and Learning
10:46 Closing Remarks and Community Shoutout
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• Check Out Our website: https://buildstrwealth.com/
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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.
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Bill sits down with Avery Carl, a renowned expert in short-term rentals, discusses her preparations for the New York Marathon, balancing family life with professional responsibilities, and her approach to real estate investments. They touch upon the current state of the real estate market, including the best strategies for buying and selling properties amidst high interest rates and market fluctuations. Avery shares her personal investment experiences, emphasizing the importance of diversifying portfolios and learning from mistakes.
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00:00 Introduction to STR Unfiltered
00:16 Revolutionizing Bookings with StayFi
01:55 Avery Carl's Marathon Training Journey
03:50 Balancing Parenthood and Professional Life
07:24 Deep Work and Time Management Strategies
10:05 Current Real Estate Market Insights
20:18 Exploring Small Property Investments
20:43 Ski Property Ventures and Challenges
21:11 Invitation to Ski and Snowboarding Boot Camp
21:55 Market Saturation and Investment Strategies
23:47 Details on One Bedroom Property
26:03 Diversification in Real Estate Investments
30:54 Challenges with Cash Flow Focused Investments
34:33 Lessons from Real Estate Failures
40:05 Conclusion and Final Thoughts
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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.
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Bill sits down with Jake Cohen, a top revenue manager, who provides insights on effective revenue management strategies post-COVID. Topics include the importance of market data, PriceLabs Market Research Report, listing optimization, and manual versus automated pricing adjustments. Jake also emphasizes the necessity of regular data review and offers free consultations to enhance revenue management.
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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.
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Ryan Bakke's Tax Prep: https://retaxprep.com/apply?am_id=billfaeth2205
Bill is joined by Ryan Bakke, a key team member and expert in financial and tax planning. They discuss critical steps for financial stability, including establishing an emergency fund, leveraging 401k matches, calculating the financial independence number, and strategically investing in real estate. Ryan also introduces a new affordable tax preparation program designed for real estate investors. The episode wraps up with insights on the importance of proper tax planning and financial management to avoid costly mistakes and optimize returns.
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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.
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Bill is joined by Tyler Coon from Savvy Realty. They discuss Tyler's rapid business expansion into multiple more markets over less than two years due to client demand and hiring a director of expansion. Key topics include leveraging strengths, outsourcing weaknesses, effective communication through DISC testing, and evaluating STR market potential in various U.S. regions. They also delve into recent changes in NAR regulations and their impact on buyers, sellers, and real estate agents, along with advice on navigating fluctuating interest rates and the investor market. The episode wraps up with Tyler sharing insights on maintaining effective real estate transactions and the importance of keeping diligent market watch during peak STR buying seasons.
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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.
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Bill shares his extensive experience in generating significant revenue through co-hosting. He outlines an effective sales process tailored for the Short-Term Rental (STR) market, emphasizing targeted lead generation over traditional mass-appeal methods. Bill discusses the importance of selecting high-value properties, leveraging sales strategies from other industries, and provides a detailed step-by-step guide for closing deals. He also stresses the significance of understanding objections, having a strong follow-up process, and ensuring both decision-makers are involved in sales discussions. Full of practical tips and insights, this episode offers a comprehensive blueprint for anyone looking to maximize their income as a co-host.
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Bill welcomes special guest Paula Blankenship, a successful entrepreneur with a rich history in the furniture and paint industries. Blankenship shares her journey from growing up in Tennessee with entrepreneurial parents to creating the 23rd largest paint company in North America. She discusses the importance of vertical integration, the challenges faced during economic downturns, and her groundbreaking product, All-In-One Paint. Blankenship's story is filled with invaluable lessons on resilience, innovation, and the critical mindset needed to succeed in any business. Her insights on simplifying processes, inventory management, and focusing on the next best move provide a masterclass in entrepreneurship. This episode offers a wealth of knowledge for business owners and aspiring entrepreneurs alike.
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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.
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Bill emphasizes the importance of uniqueness in real estate investments. He criticizes the impatient and reckless approach of current buyers who are not properly underwriting properties. Bill shares personal experiences with his unique properties, detailing how these distinct features provide competitive advantages and higher returns. He also offers insights on avoiding common pitfalls, like overdesigning, and stresses the importance of continuous practice in underwriting and market research. Bill concludes by highlighting the value of specific tools for identifying promising investments and invites listeners to subscribe for more expert real estate advice.
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Bill Faith and guest Emile Sahkel discuss the critical role of revenue management in short-term rental success. Emile, an experienced anesthesiologist turned revenue manager, shares insights on setting realistic goals, evaluating market conditions, seasonal pricing strategies, and overcoming common mistakes self-managers make. They also discuss leveraging marketing alongside revenue management to boost performance and share real-life examples of how these strategies have significantly increased revenue for high-end properties. Listeners are encouraged to treat their properties as businesses and use comprehensive data analysis and expert tools for optimal results.
Couples Retreat - https://buildstrwealth.com/puertorico
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#STRUnfiltered #BillFaeth #STR
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Bill addresses common misconceptions about revenue management and outlines key principles for success. The speaker introduces an upcoming series featuring top revenue managers like Emile Sakhel and Jake Cohen, emphasizing the importance of mindset and manual processes in revenue management. Strategies discussed include daily and multiple daily pricing adjustments, importance of minimum night stays, and using market research reports to inform pricing strategies. The host also highlights the role of listing optimization and rankings in maximizing revenue. Future episodes will feature interviews with experts to provide further insights.
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www.buildstrwealth.com/550250masterclass
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• Join Our Facebook Group: https://www.facebook.com/groups/284886002732508
• Check Out Our website: https://buildstrwealth.com/
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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.
Subscribe/Follow so you never miss an episode!
#STRUnfiltered #BillFaeth #STR
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Bill shares his methods for building personal connections with guests, emphasizing direct communication, personalized messages, and maintaining high service standards to boost guest satisfaction and generate rebookings. Additionally, Bill outlines the critical role of speed and quality control in managing rental properties effectively.
Couples Retreat - https://buildstrwealth.com/puertorico
stayfi.com/bill
Discount code: BILL
www.buildstrwealth.com/550250masterclass
➡️ 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 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.
Subscribe/Follow so you never miss an episode!
#STRUnfiltered #BillFaeth #STR
Learn more about your ad choices. Visit megaphone.fm/adchoices - Laat meer zien
