Bill Faeth - Mastering the Art of Short-Term Rentals (and life)

After leaving UCLA, Bill pursued a career playing professional golf internationally before venturing into entrepreneurship. He successfully established a multi-million dollar glow-in-the-dark golf business, restaurants, real estate development, and as an investor. However, Bill’s interest in real estate investing was piqued when he visited Gulf Shores, AL, to search for a family beach house, prompting a shift in his investment focus from LTR to STR. He started in 2015 with the purchase of his first STR in Gulf Shores for $629,000 and quickly increased rental income by 93% in year one while self-hosting for the first time and implementing off-platform marketing strategies from running over $15M in digital ads. After this success, Bill quickly started growing his STR portfolio and has accumulated luxury single-family homes in five states, generating over $2.5M in annual revenue. He is a founding partner in Rivan Capital Group, a Cohost of 13 luxury properties, and operates four additional businesses. HIGHLIGHTS IN THIS EPISODE: 00:00 - Intro 03:59 - Bill’s Background 04:37 - Short Term Rentals in Today’s Market 16:15 - Life Plans and Time Audits 24:11 - Building a Specific Plan 31:25 - Overcoming Challenges, Bill’s Biggest Mistake & The Lessons Learned 36:12 - Short Term Rentals 41:29 - Investing in Education 58:49 - FInancial Literacy CONNECT WITH OUR GUEST: Build Short-Term Rental Wealth Website: https://buildstrwealth.com/ The Free Build STR Wealth Facebook Group: https://www.facebook.com/groups/284886002732508 Build Short Term Rental WealthYoutube: https://www.youtube.com/channel/UCnheh3vx0hT5Y7uHWhBs8kA Listen to the STRUnfiltered & STRonomics podcast every week: STR Unfiltered STRonomics.com Or wherever you get your podcasts! MarketMySTR: https://marketmystr.com/ Instagram: @BillFaeth73 Tik Tok: @bfaeth CONNECT WITH OUR HOST:  Derek is a real estate investor with over 30 years in the hospitality industry. He and his wife own both long term and short term rentals and offer management and consulting services to other short term rental property owners.  Please reach out to connect with Derek at https://www.linkedin.com/in/derekfelch or email him at [email protected]. ---------------------------------------------------------------------------------------------------------------------------- Follow us on social media @the.gentle.art.of.crushing.itListen, like, subscribe, comment: http://thegentleartofcrushingit.com/