Scaling an STR Portfolio With Intention Across 6 Markets with Fouad Bazzi & Jacinda Neustel
“You gotta make it or make it. These are your two options.” What happens when a 20-year corporate banker with a vision meets a solo operator managing 30 properties by herself â cleaning, messaging guests, and fixing maintenance issues with no team? In this episode of Booked Solid, Fouad Bazzi and Jacinda Neustel share how they combined their very different strengths to build a property management company spanning 82 properties across six markets. They talk about why saying yes to everything nearly broke them, how hiring for core values changed their team, and why the Entrepreneurial Operating System (EOS) became the backbone of their operations. Whether you’re managing two doors or two hundred, this conversation is packed with perspective on growing with intention â not just growing for the sake of it. Summary and Highlights đ¤ Meet Fouad Bazzi Fouad Bazzi spent nearly two decades at Comerica Bank, working across retail, treasury management, and commercial banking â including 11 years in correspondent banking supporting community banks. After leaving the corporate world, he made the jump into entrepreneurship and hospitality. Fouad is the founder of The Owner Hosts, where he focuses on helping property owners run smarter, more profitable short-term rentals through strong systems, pricing strategy, and guest experience. He brings a unique mix of financial discipline and real-world operator experience, and he’s passionate about building sustainable, well-run businesses in the short-term rental space. đ¤ Meet Jacinda Neustel Jacinda Neustel got her start in short-term rentals out of pure necessity â she couldn’t afford her rent one month and listed her spare room on Airbnb. That one decision snowballed into managing over 30 listings by herself, first through midterm rentals for travel nurses, then rental arbitrage, and eventually co-hosting. She physically relocated from Fort Wayne, Indiana to Arizona to force herself to delegate and stop being the one answering every emergency call. She’s the published author of The Airbnb Queen: How I Built My Short-Term Rental Empire and now co-manages over 82 properties alongside Fouad. đ¤ How a Mentorship Became a Partnership One of the most refreshing parts of this episode is the origin story. Fouad and Jacinda didn’t meet through some polished networking event and shake hands on a deal. It started with mentorship. Jacinda wanted to break into the luxury rental space, and Fouad was already there â analyzing properties with his sons, hosting launches, and building a brand around high-end hospitality. For a full year, they “dated” as business partners. They trialed hosting a property together to see how each other handled real problems â upset owners, maintenance emergencies, integrity under pressure. Jacinda admits she initially resisted the partnership entirely. She wanted a hundred percent of her own pie. But over time, she realized something critical: a portion of a much bigger pie was worth more than full ownership of a smaller one. Fouad’s take was equally grounded. He wasn’t looking for a partner at first either. He saw someone with incredible grit and operational ability who, with the right mentorship and systems in place, could go further than either of them could alone. Their advice for anyone considering a partnership? It’s not about full agreement â it’s about full alignment. Know your lane. Give your opinion, then pull back. Trust and communication make it work, not constant consensus. đ Why They Went From 96 Properties to 82 (On Purpose) At their peak, Fouad and Jacinda managed 96 properties. And they’ll be the first to tell you â not all of that growth was good growth. In the early days, they said yes to everything. If someone was willing to pay, they took the property on. That changed after a particularly frustrating experience with a portfolio in San Diego. Despite flagging issues during the property tour â overgrown landscaping, mismatched sleeping capacity, a rooftop deck with ocean views but zero chairs â the owners were unwilling to invest. Guest complaints piled up. Review scores suffered. The lesson was clear: not all revenue is good revenue. So they started trimming. They got honest about which properties fit their brand standards and which ones dragged the portfolio down. That intentional pruning also transformed how they onboard new owners. Now they ask direct questions upfront: What’s your break-even number? Can we realistically meet it? And if a property would perform better as a midterm rental, they say so. For hosts and property managers looking to build a portfolio they’re proud of, Fouad and Jacinda’s experience is a powerful reminder: growth without intention is just more work. đ§ Implementing EOS: From Reactive to Proactive One of the biggest operational shifts Fouad and Jacinda made was adopting the Entrepreneurial Operating System (EOS), popularized by Gino Wickman’s book Traction. They use Ninety.io to run it across their global team â three VAs in Bolivia and two in Egypt â and the transformation has been significant. Before EOS, their team was reactive. VAs sat waiting for guest messages. Now, every team member has a specialized role. One handles revenue management full-time, living inside Key Data and PriceLabs. Another manages vendor relationships. A third focuses on maintenance. Everyone has a scorecard with weekly targets, and Monday meetings are no longer top-down status updates â they’re interactive accountability sessions where the team reports on their own metrics. Fouad’s analogy from the book is worth repeating here. Think of a cup. If you fill it first with big rocks â the priorities that actually move the needle â the pebbles and sand (the smaller daily tasks) will find their way into the gaps naturally. But if you fill the cup with sand first, the rocks won’t fit. EOS helps you identify and protect those rocks. For operators who think EOS requires a $10,000-per-quarter integrator, Fouad’s message is encouraging: self-implement. Even at 60 or 70 percent accuracy, it’s better than not having it at all. Use AI, read the book, or let the Ninety.io software walk you through it. đ§âđ¤âđ§ Hiring for Core Values, Not RĂŠsumĂŠs Building a










