Layering Marketing & Short Term Rentals in One Business with Bill Faeth - Episode #203

Bill Faeth has been an entrepreneur for most of his life, and it all started with his love for sports. It started with an opportunity as a kid, when both he and his mother were invited to a Lakers game. From then on, he did every business venture you could think of from pizza for his college roommates all the way to 2008, where he discovered inbound marketing, and the rest is history. There is no exaggeration here, after discovering that he could grow businesses while spending minimal costs on marketing, he never looked back. Today, Bill has 24 startups under his belt and counting! He’s built and grown a premium limousine company, and a glow in the dark miniature golf business with over 45 locations, that he launched after his professional golf career, yes he also used to be a professional golfer. Perhaps being esteemed achievers run in the family because his mother was also the 1982 National Kindergarten Teacher of the Year. Bill has this out drive and lifelong fervor that seems to bleed in everything he’s passionate about. And that’s important to Bill, he must be passionate about what he does. Bill has been involved in real estate for almost 25 years with both commercial and residential investing with a multi-million dollar portfolio of short-term rental properties primarily located in vacation rental markets with a focus on beach, lake, and mountain properties. In this episode, Bill goes in depth on different types of marketing and the importance of optimizing your sales process. He believes a branded pen is valuable in any short term rental business (find out why in the episode), and that over-saturated markets aren’t exactly a bad thing. He has truly built an entrepreneurial mindset and his years of expertise shines as Bill combines his wealth of knowledge with real estate & marketing in the lab. Bill’s career is a true example of a  reminder that you are truly always just one experiment away. HIGHLIGHTS OF THE EPISODE: 22:55 Building a brand 38:10 Quality over quantity 44:57 Gestalt theory 1:02:39 Work hard 1:12:06 Creating annuity KEEPING IT REAL: 0:45 Introduction 2:56 Bill's Lakers Story 9:12 Multiple Problem Solving 14:47 What should investors looking at short term rentals should ask? 18:24 Over saturated properties 24:37 Conversion rate optimization 27:38 Segment list 28:50 Cold, Warm, Hot 31:29 Details: pen 32:32 Optimized service 49:41 Be different, be unique 55:34 What to do with rising rates 1:05:35 Arbitrage and co-host 1:08:11 Bill's Vision and life goals 1:14:45 Lesson about syndication 1:20:04 Online Networking 1:26:42 Bill's dropshipping business at 1989 1:31:38 Buildsdrwealth.com / BillFaeth.com NOTABLE QUOTES (KEY LESSONS): 1:02:41  “…The people that outwork their competition were the ones that win. It's a really fucking simple formula...” - Bill Faeth Get coached on how you can repurpose your existing home into an Airbnb with me: https://experimentrealestate.com/hospitable-hosts Guesty Unique Link: https://hosts.guesty.com/?=therealestateexperiment Apply for an American Express Card with this link: http://refer.amex.us/RUBENKr8et?xl=cp01&mpt=v0 #marketing #realestate #shorttermrental