This week Luke is joined by Bill Faeth for a laidback conversation about their experiences in short term rentals, cohosting, and more. They talk about some recent challenges Bill has faced when purchasing a new property, the growing struggle for middle ground properties, the success of drive-in vacation markets and more.
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.
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For more information on how to get into short term rentals, read Avery Carl's Book, Short-Term Rental, Long-Term Wealth: Your Guide to Analyzing, Buying, and Managing Vacation Properties
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