Transform Your Mindset and Build Wealth: Two Extra Steps to Real Estate Success

Join Alex as he sits down with Bill Faeth to uncover the REAL blueprint behind real estate success, overcoming failure, and building lasting wealth. From tough beginnings to multiple business wins, Bill shares lessons most investors learn too late.

💡 In this episode:
✔️ How to eliminate negativity and sharpen your mindset
✔️ Why staying in your “genius zone” creates massive results
✔️ Short-term rental strategies that actually scale
✔️ The habits wealthy entrepreneurs never compromise on

This isn’t motivation — it’s game-changing strategy.
🎥 Watch now and start thinking like an investor.

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Transcript

Alex [00:00:00]:
Welcome back to the BRRRR Investor Podcast where our mission is to empower aspiring real estate investors in their journey towards building generational wealth. All right, welcome back to the podcast. Today my special guest is Bill Faith, entrepreneur, real estate investor, expert in the short term rental SDR space coach, author, and the list goes on. Bill, thank you so much for being here. Welcome to the podcast.

Bill Faeth [00:00:25]:
Yeah, thanks for having me, Alex. I'm excited to do this with you today for sure.

Alex [00:00:30]:
Awesome. And I'm excited to have this conversation with you and, you know, share a little bit more about you to our audience. Can you please start by telling us a little bit more about your background and who you are.

Bill Faeth [00:00:41]:
I'm a five time fat guy currently in my XL closet, not my triple X closet right now. I've slept with Tiger woods over a hundred times, I've failed at six businesses in my career and I'm a college dropout. That's kind of my history.

Alex [00:00:57]:
That is awesome. And that is why is that what contributed to some of the success that you have in real estate investing?

Bill Faeth [00:01:03]:
Honestly, what contributed to my success? I start with all the negative stuff because that's what fills all of our minds, right? Most of us are held back for our true potential, our true success because we always focus on that stuff. I honestly focus on the positive stuff. And I've actually done 43 startups, 37 exits, over 2.2 billion doll dollars in sales. I've been happily married, never had to sleep at a hotel one night in my life for 27 years, have 4.0 student, athlete, you know, daughters. Everything has been roses in my life. At least people think that publicly. But I will tell you, I've been on the verge of bankruptcy twice as an entrepreneur and things are really, really hard, right? And when we are on this journey by ourself. But the one thing you asked that has made me successful, I think is growing up without a father, with a mother that went from being probably a $22,000 a year salaried teacher in the late 70s and the early 80s to instilling work ethic in me and instilling really some business knowledge in my formative high school year. She made the big risk to buy a preschool in Bakersfield, California when I was a freshman in high school. And I remember sitting at our dining table and probably our $75,000 house at that time. And you know, she's. I'm learning. I was taught what a P and L was when I was a freshman in high school. And so I carried that forward with me. And even as a father now, not having a father that negative, you know, that I let in with, maybe I didn't say that, but I didn't have a father growing up, I think has made me a great father. So I look at all of those mistakes. A good friend of mine, Dean Graziosi, calls making mistakes, if we learn from them, success tax. It's just the tax we're paying to learn and to get better and to make more money, to make better decisions, right? So I've had a lot of shit go on in my life and you know what? I'm very, very thankful for it and I'm blessed to have gone through that stuff to make me stronger, make me smarter, give me more experience to make better decisions today.

Alex [00:03:08]:
That's beautiful, man, that's beautiful. Thank you for sharing that and diving deep into that because, you know, like you mentioned, a lot of the times we spend most of our time just talking about the wins and you, the successes and making things look good. But ultimately what really contributes to that are the challenging situations and how do we, you know, overcome that?

Bill Faeth [00:03:28]:
Well, I mean, think about, right? So I mean I, I mentioned, you know, I'm a five time fat guy, I'm 225 pounds, I'm on this mega health journey. I think we talked about that previously, right? And I'm 52 years old and I'm in better condition, probably better shape now than when I was playing professional golf. The reason for that is, is because of the negative things that have happened in my life, right? And I actually did something. One of the things I think is important for us to be successful is we have to shed the negative thoughts. We have to shed the negative reminders, right? We need to be around people that have already achieved what we want to achieve. We all hear that and it usually comes from coaches like me. So people don't believe it. But you know what? I'm actually a student too. So I'm still a student. I mean I pay people to learn from them, just like I charge people to teach them. And I think one of the things, like as an example, when I started, when I two weeks before I turned 50, I'm 52 years old, it's been two and a half years. I was 308 pounds, I'm 225 to 230, all my triglycerides, my hemoglobins, all my biomarkers are off the charts like five times better, right? All the Gary Breaker shit, I'm doing it. Biohacking peptides, red lights, saunas, Fricking Brian Johnson, 28 supplements a day, all of it. And I'm in amazing shape today because two and a half years ago, my doctor I'd known for 18 years said, Bill, you're fat, you're overweight, you're going to die. You're now pre diabetic. And I was in my XXX closet at that time. I'm not kidding. I have a upstairs, I have a triple X closet downstairs and another bedroom I had a double X closet. And right now I've got my extra large closet. But one of the big mental hurdles for me was I had to get, I had to clear out space two and probably, probably took me nine months to lose the weight and get into better shape, right? Maybe a year. So it's been a year and a half. Just three, four months ago, I got rid of my triple X closet. Like seven big, you know, those big black, hefty trash bags. Seven bags of trash. Not trash, but to Goodwill. And then I got rid of my double X closet. My wife's like, usually I would say, are you kidding me? Because you're getting rid of thousands of dollars worth of clothes, probably 20, $30,000 with like $500,000 ski jackets and shit like that. I said, I am never going back. It's extra internal motivation, right? To take those two extra steps that I'm sure we'll talk about in a little bit. But many times we don't think about what we have to clear out to create space for us to be successful. You, you, Alex, you know these people. I know plenty of people. You know, the people are. We have friends that are always ridden with drama and they always find, or they find the drama or it finds them or the one that's always in trouble, no matter how good their intentions are, right? It's because they haven't cleared all that negativity away from them to be able to give themselves a fresh start. And that's the same thing in real estate because we're going to make mistakes. It's the same thing. And being an entrepreneur with as many startups as I've done, not all of them have been successful. I'm most proud of those failures because I learned from them and I don't repeat those mistakes.

Alex [00:06:18]:
So tell me about, like clearing your closet, for example, with that analogy. I mean, would you say that if you don't clear that closet, that gives you a reason to go back to, you know, where you were not happy, where you were not comfortable and so 100%.

Bill Faeth [00:06:30]:
Right here, right here in the diaphragm. It's subconscious. It's buried deep down. It's that safety net. The reason that people don't become fucking successful is because they don't dive into the deep end. They go to, they walk around the pool to the shallow end and they dip their toe in to see if it's cold. Then they step in, oh, it's chilly, and then they go down to their ankles and then their knees, and then they jump out because it's too cold. Fucking dive in, it's all in. And if we don't clear everything in our subconscious that that non compelling rationale that pulls us back, does that make sense?

Alex [00:07:01]:
Yeah, yeah, yeah, yeah.

Bill Faeth [00:07:02]:
And I'm no Tony Robbins, I'm not a psychologist. I'm telling you, I've learned this from personal experience. And really probably when I was playing professional golf, I mean, I turned professional at 19 and actually technically 18, when I was about 21, I found this guy named Dr. Bob Rotella, and he wrote a book called Golf is Not a Game of Perfect. And it was all about the power of positive visualization, right? It's like you hear people, you hear Tony Robbins, Russell Brunson, Dean Graziosi, whoever, all these big coaches, right, and they talk about manifesting your future. Everything is manifested. It's either negative or it's positive. One of the two, right? We visualize a different self, we visualize a different future than where we're at today. But it's not necessarily what's conscious, it's what's subconscious that creeps up to become our conscious thoughts. I didn't intend to get into all this stuff, but I don't know how we ended up down this path. But that's what I've been able to honestly change in my life. Because when I started to excel at junior golf in high school in Bakersfield, California, and I'll never forget my senior year, the number two ranked player in the state, I'm the number three ranked player in the world, and I'm playing in the state high school golf championships and my father, who I hadn't seen since I was 5 years old, shows up and comes up to me 15 minutes before I'm teeing off with me and Tiger woods and Phil Mickelson and another guy. Nobody would know who that is. And I said, you know what? I haven't, you've. I haven't seen you for 13 years. I don't want to see you today. I don't ever want to see you again if you didn't feel compelled to want to be a part of my life until now, as I was starting to. He only saw. Knew what was happening because he saw it in, like, a paper on the news or whatever it was. It was only because I was playing with Tiger woods, who was already a phenom at that point, right? And I use that as fuel for the pause. I use that as fuel to be present, to not let this thing take away from my two young daughters, right? To manage my travel schedule, to manage my business ventures, and most importantly, to teach them to become young, confident, financially astute female women.

Alex [00:09:10]:
That's beautiful. And you have the choice to choose otherwise, right? You have the choice to just, you know, make yourself feel bad and dwell on, you know, the past, the fact that your father wasn't there.

Bill Faeth [00:09:22]:
But you, Alex, you have no idea. I'm gonna give you. I'm gonna tell you something. I've never. I don't even think I've told my wife this, honestly. When I was a senior in high school, a guy. Well, I'm not gonna say anybody's names. I played soccer growing up, like, travel soccer, and one of my teammates, and we. And we both stopped playing like, our sophomore year, was running with the wrong crowd. And I got pulled into that crowd. And a guy that I knew for, like, six years murdered two people at a Wendy's in Bakersfield, California, probably 1988 or 89. Is it 89 or 90? And I hung out with him, like, two days before that happened. That's the people that I were. I was hanging out with. I wasn't. They were smoking weed, doing whatever, drinking at, like, 17, 18 years old. I didn't do that stuff, but I was hanging out with them. And when that one instance happened, immediately, I can't do this. I. I was up. I. I don't even know what I felt at that point, right? But I'd known this guy for six or seven years through, like, junior high, high school, and he went and robbed a Wendy's and ended up murdering two people that were there. And that sent me on. On the. Just a completely different path. And that's probably the first time, subconsciously, I had no idea I was doing, but I had to remove that from my life. And I think about, man, what would have happened if I didn't remove that from my life? My life would have turned out totally different, I promise you. I could have. I could be in jail. I could be dealing drugs, do whatever, because I talked about this with my Good friend Pace Morby on his podcast a while back. And it's a cliche, Alex, but we become the derivative of the five closest people that we hang out with. And him and I talked about like our personal boardrooms and who's in those boardrooms and for him and I. And dude, he's like in the real estate space. I'm here and you know, he's way up here, right? I don't have $500 million of personal assets in real estate. And there's people that are way better than him in his top five. There's people that are way better than me in my top five. And I said, pace, I want you in my top five. Not because of the real estate stuff, because of how he serves his community, because of his Christianity, because of how he is as a father and a husband. Right? And those are things that I think a lot of us as entrepreneurs don't focus on. I want to be an exceptional husband, I want to be an exceptional father. I don't want to be an exceptional entrepreneur. I believe that's a byproduct if I have an unbelievable home. Because when you don't have an unbelievable home, it's hard. It's like 10, 20 times harder. And I'm, I've been blessed. My wife's been on the journey with me. I mean, she should be here as much as I should be here. She's her and I have done everything together. She's my best friend, she's my lover, she's my wife, she's the mother of my children. She's my business partner, she's my bookkeeper, she's my cpa. You know, she's my confidant, she's my CEO, she's my decision maker. And that's one of the things kind of going back to golf, when you see the best golfers in the world, they have the best caddies in the world. And the caddies 30 years ago used to be beer drinking, chain smoking guys that would sleep in cars. Now they are just as important as the swing coach to the player. Right? And so, I mean, I think when we, as specifically, if you're all the acronyms like im, add, ADHD code, you know, just type quadruple type A personality onto that. Successful entrepreneurs are, I think you have to have that stability and you have to have that rock. Because when we get self doubt, that's when we make mistakes.

Alex [00:13:13]:
And having that rock is there to support you in those situations.

Bill Faeth [00:13:16]:
To they, they, they support, they can center when they think we're going to make a bad decision if we have that open dialogue. And I'll share this with you, alex. I in 2015, I met a guy named John Barden and he had me and five other guys implement a life plan. I was an eo, if you ever heard of the entrepreneurs organization. Had a bad experience in my forum, dropped out. We had eight people in the forum. There were three overachievers. I was one of them and five underachievers. I also two overachievers. I said, f this, this is a waste of my time. Let's go start our own thing. We started our own called Spark. We hired John, brought in five other guys and we thought that he was going to come in. He was like two time Fortune 500 CEO, angel investor, all this stuff. And he sat down, he's like, you guys want to be just like me? He's hardcore like I am. And we're all sitting there thinking, yeah, we do want to have the success that you've had. And he throws down these three ring binders. They're stacked with documentation like this. We thought we were going over cash flow reports, marketing plans. It was a life plan. He's all, you know, I've been divorced three times. I'm on my fourth wife. My son just became the president of a pretty major bank and he hasn't even spoken to me for the last two and a half years because I put business first before my family. So we went through and we did everything with this life plan. And the interesting thing about doing this life plan is he had us do it by ourselves. Spouses weren't included. When we got done with ours, then it was our job to guide our spouse and let them go through it on their own, answer their question, not be involved. But to now you have both voices that are coming and then you merge them together like the tribes and survivor, right? So she gets her voice, he gets his voice. Completely unencumbered, uninfluenced. Boom. Mr. Miyagi, you bring them together. And that fundamentally changed my life. My wife and I had a great relationship and she wasn't as involved. She was more of a yes wife than she is today. And over those last 11 years, we have 20x our net worth, 15x our income. It's just our relationship is better, our sex life is better, our health is better, everything. And I go back to my 20 year old because that happened about halfway through her existence to date. And she's like, I never really thought about it, but I have, I, I think I Can see a difference. And what in your guys's relationship? She was pretty young. She was like 10. But that's been. That's been the absolute biggest impact that's happened to both me and my wife.

Alex [00:15:44]:
That's phenomenal. It's great to have that support and. Yeah, I mean, it's a team effort. It's a team effort.

Bill Faeth [00:15:51]:
I know we're not talking about burrs here, but.

Alex [00:15:53]:
No, no, of course. No, I mean, this is great. We'll get to that. We'll get to the real estate part of it. Tell me before we go there, how did you get into, you know, the golfing? How did that come about?

Bill Faeth [00:16:06]:
I actually was in seventh grade and I was in the big brother program. And I'd been through like two or three really not so great big brothers. And then I got this guy named Chris. Never forget, he was a tall guy like me. I'm six foot six. And we had to cram. And he drove a VW bug. Have no idea. You know, I was so long ago. I have no idea what he did for a living. But he was not wealthy at all. Probably poor, actually. His bug had to be from the 70s. This was probably 85, 86, I think I was 12 years old, like 85. And he took me to this tin cup, kind of crappy driving range. And one night it was lit up and we went and we hit golf balls. And he's like, you're really good. So I just. I mean, I've. I think I excel at ping pong, tennis, racquetball, basketball, soccer. I just have good hand eye coordination. And my whole family is athletes, right? Grandfather was a college basketball coach, played professional basketball. And I just. I remember calling, I told my mom how much fun I had, how cool it was. And I remember. And we were like the ones that are grabbing, you know, the old crappy golf clubs out of the trash can next to the. The ball dispenser. He didn't have any clubs either. He wasn't a golfer. And he just thought it'd be something to entertain me to do, to try. So about a week later, I don't think I saw him. We're supposed to see each other once a week. I think if I remember correctly, we didn't see each other the next week. It was like two weeks. And he's like, what do you want to do? I said, I want to go back and do that thing at the golf course again. And then like two weeks later, I'm going to go back and do that thing. At the golf course again. And then I'll never forget it was like the first major emotional loss that I had in my life. After a few months, he moved to San Francisco from Bakersfield, California and lost him as a big brother. And it was pretty traumatic for me because, you know, I had no father and he had become my father figure and all that type of stuff in a few months. And he was just awesome. And I've tried to find him and I've never been able to get back into communication with him. But I would love to tell him that he's the one that fundamentally changed my life by introducing me to golf. Because golf was the thing that set me up for success. That everything I've done as an adult, the disciplines that I've learned, the commitment, you know, being in an individual sport that's self moderating, you call penalties on yourself, you know, there's no referees, there's no judges. But that he, I think he moved probably like March, April of my seventh grade year. My mom had just become a vice principal in Shafter, California. It's about 20 minutes outside of Bakersfield. So she, I mean she's probably making 30k a year. She can't afford, you know, for me to, you know, have somebody watch me or whatever. She's like, I'm gonna drop you off at this golf course every day at 7:30, it's called North Kern Golf Course. And I'm gonna give you $5 so you can get some food and you can eat and you need to figure it out. Go play golf. Go do golf. Balls hit on the range, whatever it is. And the head bro there, Joe Haggerty took me under his wing and he hooked me up with these three guys. I played every morning, 8 o' clock with them and they would, they were literally bare bellies hanging out, drinking beer at like 9 o' clock in the morning using pull carts, no shirts on, just total Bakersfield rednecks. If anybody, you know, Bakersfield is the red, most redneck town in the world. This is what's happening there. And you see the oil rigs and you know, the grape vineyards off to the side for table grapes and everything. And those guys taught me the rules, they made me play by the rules. They, they taught me etiquette, they taught me everything. And for the, the summer, for whatever that is, 60, 90 days, every single day, Monday through Friday, I'm out there with them and I'm playing with them. And then Joe Haggerty started giving me, when he saw that I was starting to Improve. And I could, like, break a hundred and then shoot. In the 90s, he gave me a lesson, a free lesson, because my mom couldn't afford to pay 40 bucks for a lesson. And then he's all, when you break 90, you come back and let me know. Make sure you have some, you know, one of your. Whoever you're playing with, sign the card so I can verify it. And like, three weeks later, I broke 90 for the first time. And I came back and I was so excited. Joe, look at the card. And he said, I'm going to start giving you a lesson every week. He's all, the only thing I want out of you is commitment, that you're going to practice for at least one hour a day, every day in between, even when you're at home. And he gave me this little, like, grip of a club that's only about this long, with, like, a weight on the. He's all, I want you to swing this at home. And I'm going to give you one thing a week to work on. Nothing else, just one. I need you to be linearly focused. And that's what set me up for success. I didn't have a coach after that until I turned professional, but it was that opportunity that I, I needed. And I believe, Alex, that it doesn't matter if you grow up in the hood and, you know, South Crenshaw, or if you grew up in Laguna beach or, you know, south beach or New York City or whatever it is. I think we're all presented with opportunities like four or five positive and negative ones that murder. Those people I were hanging out with was a negative one that I was lucky enough to extricate myself from. Joe Haggerty taking a liking to Billy Faith and investing his time for free into me, set my whole life up for success. I learned discipline from him. I learned commitment from him. That, you know, really is what manifested me to become who I am as an adult, as a male, as a husband, as a father today. Wow.

Alex [00:21:34]:
Somebody believed in you. Yeah, that's. That's amazing. And I can, you know, translate that into, like, real estate investing as well. I mean, many people think you have to have all the resources to be able to get started. Started or to invest, which is not true. Like you mentioned, you know, you can come from the hood, you can come with, with. With no money. It's just a matter of, you know, how you assert yourself and, and how you take action and jumping into that pool, taking action. So you grew up in Bakersfield, California. Is that where your Investing journey started or can you share a little bit about that?

Bill Faeth [00:22:09]:
Yeah. So I mean as I said earlier, I. Man, I became pretty good at golf relatively quickly and I was the third ranked player in the world coming out school. Went to ucla. My mom made me go to ucla. I did not want to go there. I mean I was a huge UCLA basketball fan and when I was playing basketball. But the golf program wasn't good. Hard to. No place to really practice, like hit balls. Didn't have access to the facilities I wanted to go to. I was supposed to go. I wanted to go to Stanford with a friend of mine, notably gay, who's now a Golf Channel guy, played professional golf. Tiger Woods, Casey Martin. We were all going to stand. That was the plan. We all grew up together. We were all the top players and we're going to go win NCAA championships together. I was the only one that wasn't smart enough to be able to get into Stanford. I couldn't. My GPA was okay, I was like a 3.85. But I couldn't score high enough on the SAT as a top five athlete in a sport completely different in basketball and football. When you make money when you're in a non revenue sport, they don't give a shit. And I'll never forget Wally Goodman. He's like, you're going to be the best golfer that I couldn't get in here at the time. And I ended up, I wanted to go to Fresno State then with another friend of mine from Visalia named Joe Acosta. And my mom forced me to go to UCLA and I just hated. I was only there for three and a half months. I dropped out after the fall golf season. I won four of six tournaments. I thought I had the world by the balls. I could do anything I wanted. And then in May, I turned professional in golf at the Long Beach Open in Long beach because my idol at that time, Fred Couples, that's where he turned professional like 20 years prior to that. Anyways, I say all that to Tia. I netted $182,000 my first year playing professional golf. And I would be remiss to say to just add more to the redneckness of Bakersfield, California. When I left ucla, my grandparents and my mother, I don't want to say they disowned me, but they were all in education. They said, you've got to do this on your own with some tough love. And if it wasn't for Buck Owens, who was the godfather of country music, giving me $25,000 to start my professional career with no strings attached. There's no way that I would have been able to do what I've done. And so Buck did that for me. I turned professional to Long Beach Open and almost cost myself my relationship with Buck. Because I'll never Forget, I made 3,700 bucks. I finished like 9th or 10th. You'd made no money back then, right? Like top 10. I don't remember what it was. 7th, 8th, 9th. And man, that was a lot of money. 3,700 bucks. I drove straight back to Bakersfield. I was so excited. I'd played bad the first day, and then I shot like 68 the last day to make some actual money or I would have made like 300 bucks. I went back and bought. I wish I had it on right now. I still have it. I went and spent 3,000 bucks to buy a Rolex Submariner. I go out to the driving range a couple of days later, Bucks out there hitting golf balls at the same crappy place where I learned that first night with my big brother. He wasn't at like the fancy country club or anything. And he walks over and I've got. I'm literally got my watch on. He's all, you in a practice with that big old watch on your wrist. He's all, when did you get that? I said, a couple days ago. He's all, how'd you afford that? Did I pay for it? I said, no, I won 3, 700 bucks. How much that watch cost? I don't think it was three grand. I think it was 2500 bucks back then. I saw like 2500 bucks. And he sat me, just grabbed me by the shoulder very softly while it walked over about 10, 15ft away, sat me down on the bench and lectured me about money. And that's really not your money. That's really my money. If I was going to require you to pay me back. And now what happens when you run out of money? Then you're going to have to sell the watch. It's only going to be worth a thousand bucks and blah, blah, blah. And that was my first real father moment that I had in my life where he kind of, you know, shook me straight in a very. His very soft mannered way. And he talked to me. I mean, if you know the story of Buck Owens, he was a. He's a Grapes of Wrath guy. He's a dust bowl guy that came from, you know, Oklahoma, and he had nothing. They literally slept on the dirt of Bakersfield, California when he came out there. And you Know, he became one of the biggest legends in the history of country music. He. And then he started teaching me about philanthropy and helping people and. Which is kind of what I think educators are because they don't get any praise, they don't make any money. The only good thing about being in education is you get the summers off, but that's really not three months, it's about six weeks. And then you got to do curriculum and all this stuff. And I respected the shit out of my grandparents and my mother a lot more after that conversation. And as he started teaching me these things and he took me under his wing and he guided me, he helped me grow up because I didn't have anybody to help me grow up. I was 18 years old at that time. But long story short, I made 182 grand. I tried to pay him back and he told me one thing. He said, invest it. Don't just go put it in the bank. I don't know anything. I went to Jeff Stewart, my cpa, and said, what do I do? Anyways, long story short, I bought a like $97,000 duplex and I lived in half of it. I was house hacking. And I got a tenant to live in the other half for like 600 bucks a month. And literally that covered, you know, my mortgage or maybe cost me like 200 bucks a month or whatever it was. And that was my first foray into it. I owned that thing for like 11 years. And you know, then I just, I've been, I've done commercial, I've built lead certified industrial spaces. I've done, I've done everything multifamily, long term condos, super properties, you know, single family homes. You see me talk about this all the time. I've got a hotel in New Orleans, a lot of different things, because I do believe in, in, you know, diversifying portfolio. I, I'm a long term flipper, by the way. I am not a buy and hold guy. I mean, that's my whole super property, how to build a super life. As you start like at that $97,000 property and then how do I roll that up today and turn that into a 250, then an 800, then a 1.5, then a $5 million property. The interesting thing about my short term rental kind of history, Alex, is I've got today a 20, probably somewhere between 24, $25 million portfolio. Just. Let's just talk about the single family homes. They do just under, just under $3 million a year in revenue, about 1.2 $1.3 million in debt each year. That's all off of one investment 11 years ago, just one $126,000 investment. I've been able to build that portfolio now. I started like property managing and that type of stuff to help speed up cash flow, but I never. And that cost nothing, you know, to start up back in the day. Co hosting, property management. I flipped. I've done all that stuff. But it all started with that $126,000 investment that took my wife and I about seven years to save up after almost going bankrupt coming out of the Great Recession and then the flood of Nashville. And I had like three of these major things that stacked on top of us that I was too young and wasn't prepared for, didn't save enough, didn't have enough rainy day fund. And you know, as we're growing back out of that, it's just, it's a, it's amazing to me what real estate can do. And I just want to emphasize that you are 100% correct. You can, if you don't money, start wholesaling or co hosting or, you know, be a bird dog for a guy like Pace Morby or a wholesaler or whatever that is. There's a lot of options to be able to do it. The problem is, is we have that negative baggage here. The average human head weighs 8 pounds, according to the Kid and Jerry Maguire like 35 years ago. Do you remember that scene in that movie? The human head weighs eight pounds. Well, when we have all that, it's like 25 pounds, right? We got to get rid of all of that stuff. And the only reason you listeners out there that don't think you can't do it is because you're fucking telling yourself that you can't do it. Flip that narrative and own your future. I promise you, you can do it. There is always a way. I've got plenty of money today, but I just. We're just completing it right now. A hotel and block off the French Quarter in New Orleans. Paid 1485 for it. Put 800,000, putting 800 900,000 into it. Looks like it's probably going to be worth close to 4 when we're done. You know, you're talking 1.2 to $1.7 million in equity and I have $0 into it. Zero. First time ever I've used OPM, other people's money because I've never. That was my personal hurdle. I didn't want that. Right. I'm the. I grew up single child only Child, single mother, no father. I did learn how to do all of this on my own and I wore that as a badge of honor on my shoulder. Now because I've built a brand, it's easier for me to raise money, trust, all that type of stuff. But man, you don't have to have money to start. You just need to. And you might say, oh well, I don't have a brand like you, Bill, that's cool. You don't need it. Just lead with value for other people. If you can lead with value for other people, then they will want to invest with you. They will start to trust you. Just lead with value. It may, it may not happen overnight. May take you some time to figure out what that value is. Not to go back to Pace Morby again, but he wanted to go from being mastermind member with Dean Graziosi to friends, you know, to he, he was, it took him, I think he said 13 to 15 years to figure something out of how he could really create something of value for Dean. And when he did, he flew to north to New York to deliver it to him like the immediately next day, right, I'm doing, I'm working on something pretty big in the real estate industry right now with one of the biggest guys in the industry. And I'm going to call with my team and him and his executive assistant today and we have to look at something in the next 36 hours if him and I want to move on this together. He's like, I'll see you tomorrow. It just happens to be in my city, right? And I'm like, man, Steve, I'm going to be gone. I've got to go to Knoxville tomorrow. I'm going with my daughter to go look at Utah. I'll be back tomorrow night. I'm leaving 6am Saturday morning with my wife and I'm going to be gone for five weeks. He's like, I'll see you tomorrow. I'll text you when I get flights. I'll be there sometime in the afternoon. That's the decision making of somebody that has been uber successful in their life because he sees an opportunity, doesn't know how big the opportunity is. I've led with value with him, so he trusts me because on the pecking order he's up here and I'm down here. Does that make sense? A lot of in my world, people think I'm way up here and they're here, but it's flip flopped in this scenario. And him and I have something that we're going to put Together that will impact thousands of people in a positive way. But we're not going to be able to do it together. If he doesn't make that decision to take that action, to take the two extra steps to be here tomorrow. That's if he's cluttered with shit in his head. Well, I don't know if Bill's the right guy. I don't know if this is the right deal to do. I don't know this. And we're just all. We're just going through all these negative thought processes. As Dr. Bob Rotella taught me, we have to take those, crumple them up, and then throw them in the trash can. Like, mentally visualize the bubble. Remember Wile E. Coyote, Roadrunner back in the cartoons? Here's the bubble right before, you know, the big weight falls on Wile E. Coyote and it says, oh, no. And literally that negative thoughts come out in the bubble. You crumple it up and then you throw it in the trash can. And then you start thinking positively. If you practice that, you will get rid of all your negative thoughts and you will immediately start thinking positively. That's the number one thing that I learned about positive visualization. And you think about this. I'm a snowboarder. If you're a skier or snowboarder and you look at the person or you look at the trees, or you look at the cliff that you don't want to hit or go over, that's where you're going. If you are a golfer and you are saying, I'm not hitting it in that lake, that's exactly where the ball is going. You get linear, focused. I'm hitting it to the B on the sign right above your left ear. The B, not the sign. Not the B. Rrr. Not the podcast. The B. That finite sign. That's. You visualize that three times. It's like, literally, if I'm playing golf, I'm standing behind the ball and you see guys on the PGA Tour, they're swinging behind the ball. You know what they're doing? They're not loosening up. That's what the average person thinks. I know I'm away from my mic. What they're really doing is they're visualizing their shot all the way down from the time that they make contact. They hear the sound in their visualization. They see it cutting through the 15 mile an hour wind, blowing off the ocean, and then landing exactly where they want it to go. I believe everything is about manifestation. I'm not all walk the fire. Tony Robbins type of stuff. But I believe if we set an outcome, if we have a timeline to it, if we can put numbers on it, if we can measure it, and then we can positively visualize the path of how we're going to get there incrementally every single day, it makes it a hundred times easier to be able to achieve that goal. And I never had a goal of building X amount in real estate or anything like that. Remember, I've done 43 startups at this point. I like building stuff and what I found is I didn't have to build businesses, I can just build more real estate. It doesn't matter if it's a micro resort, a hotel or a single family home. But everything I buy is value add. Because of that, nothing is ever turned key. So I can build onto it or build from scratch and that's where I see the most value in investing.

Alex [00:35:21]:
And with that said, the, the, the real estate portfolio that you're mentioning, is that mainly focused on short term rentals or, or is it diversified? Can you talk a little bit about that? Because you know one of the main businesses that you do is short term rental, correct?

Bill Faeth [00:35:38]:
I have seven businesses right now. I've got a SaaS software company, got a staffing company, got a bunch of things that I do. I like having multiple small businesses as opposed to one big business. Well, one, I don't like employees. When I left California to move here at 720 employees at six restaurants and I never wanted to go back to that. So then my partner and my glow in the dark miniature golf business, we built 178 locations with like 400, 500 employees. I don't even remember. And I never wanted to go back to that. And I said I'm done. All small businesses is what I'd like today. It's why I love, you know, I love AI which replaces a lot of virtual assistants, replaces a lot of, you know, employee stuff. I'm big into automation, but I'm into real estate and I'm into other things. Real estate is just what I've chosen because I see way too many people making way too many mistakes to coach him. And I am 100% in the residential side, short term rentals. I still have some commercial property, I still do other stuff. But my most linear focus is I don't do midterm, I don't do long term because I can get, generate more cash flow out of short term rentals. I get Grant Cardone and even Pace and my friend Ryan Pineda. They all say Short term rentals are dead. You know what? Flipping's dead. Wholesaling's dead, Buying apartments is dead. You know, go buy a 200 apartment complex in Dallas and see how you do. That's not the way this world works. It's dead for the average and below all, every one of those sectors is dead. If you're average or below, if this is average and you can level up to here, you can thrive in any business, in any market, at any time. You can coffee shop, build a better phone than what, you know, Steve Jobs created and Tim Cook is doing. It's that, that's it. That's all. We just have to rise above everybody else. I'm at the top. I'm not even in the top 1%. I'm in my own fucking stratosphere when it comes to short term rentals because I don't treat it like a passive income. It's an active business, right? And I market off platform. It's not just Airbnb and vrbo. I do revenue management. I invest. I do ridiculous amounts of research, market research, not just data sets like people do that are in multifamily. I am going to the economic planning, I'm going to the economic development divisions and finding out who's getting incentives, what businesses are coming, what's happening. I'm going to planning and zoning. I'm going through, you know, 24 months of minutes at city council meetings to see where markets are going, right? So most people, when they're doing T12 for multifamily or whatever it is, you're betting on the history, right? Who gives a shit about the history? That's like the bare minimum, the qualification for the bank to justify financing for this property. Where is the market? Where's the submarket? Where are we going? What's the future? That's the difference for me. That's why I've hit 70, 76 out of 77. Triples and home runs. That's my, my last 77. I've got 76 out of the last 77. And it was actually number two that I failed in. So I'm like 70. I'd be 75 in a row. And I'm not talking singles and doubles, I'm talking triples and home runs. And that's a combination of flipping and buying and holding.

Alex [00:38:57]:
So one thing that I, that I believe in and applies specifically to real estate is, you know, the reason why many people fail to succeed in real estate is because there's so many ways or the reason why they fail in real estate is because there's so many ways to succeed. And in our last conversation you mentioned something that really stood out is, you know, it's because you. You follow What? What you're good at your genius, right?

Bill Faeth [00:39:20]:
The genius zone.

Alex [00:39:21]:
Yeah, the genius zone. Yeah.

Bill Faeth [00:39:22]:
Yeah, 100%. I only do what's in my genius zone. So just think of it as a Venn diagram. You know, you got two circles and then the bottom circle and the overlap. The middle is what we should focus on. The problem is, is most people get distracted with the small stuff that's in the outside of the three circles. I do none of that. None of it. I can't even tell you the last time I did a quickbooks data entry. I can't tell you the last time that I ordered toilet paper or drywall or whatever it is, right? I mean, my wife does like my wife does our books on the back end. It's funny, she does the books, but she can't interpret the P Ls or the balance sheets like I can. Does that make sense? And people think, well, that doesn't make sense. It sure it does. Those are two separate skills sets, right? So I am the buyer. I do the research, the analysis, which ends up being the buyer, right? And then I am the sales, the marketing and the hospitality. That's it. That's all I do, right? And I'm not going to say that what I do just because that generates the money is more important than what she does because she saves the money and she's the rock that keeps me on track, right? So I focus on things in any business that I believe that I can use my skills of interpersonal skills, hospital, whatever you want to call it, hospitality. All I think of hospitality is just interpersonal skills and doing the two extra steps, doing two small things that everybody else, all the lazy people are unwilling to do, right? Use that in sales, use that in your marketing. Use that in your hospitality. And that's why, you know, when I talk about there's really only three things that separate me from other people that are unsuccessful in the short term rental space. One, I do the deep, I spend more time, take those two extra steps to do the deeper research to find the better places to buy. And then two, I spend more time marketing and three, I spend more time on my revenue management, you know, that's it. And actually, I can't even say the third one. I don't do it anymore. I actually have a guy in my mastermind for six years that's become the best Revenue manager in the industry. And I just gave him last year all of my properties to manage that I own, co host and property manage. So what happens when I do that? Now I get to take all that time back. And that, you know, Venn diagram goes from three circles to two circles. Now I get a much more focused approach and time wise to what's inside that genius zone. So I think that's the other thing that it took me a long time to learn, Alex, is that if I'm not linearly focused on what I'm good at, I'm wasting so much time on things that I'm not good at because it's busy work, right? So like when I start an individual, I don't have one here, but let's just use this. Like this is a small book, but you know the small, like three actually this is a better example here. You know these things, the small ones though, they're like three inches. You go to 711 and you buy them just the little notebooks. Everybody in my opinion, should go buy one of those. Take one of these things. It's called a pen. Those cost 10 cents, right? Those things cost 99 cents. So it's a dollar and 10 cent investment. And then literally right Sunday, at the top of page number one, and from the time that you get up until the time that you fall asleep, you track everything, start and stop time, and then you rate it on a value proposition on the right hand side, 1 to 10. How valuable was that task for my life? And anything below seven after seven days, anything that you repeat in seven days at least three times or has a rating of seven and below is beneath your value proposition. You should only be focusing on eights, nine and tens that really move the needle for you. That you have the ability to be able to execute at a super high level with everything else needs to be given to an employee, a virtual assistant AI. It needs to be off of your plate. That's the focus that we see with Elon Musk. That's the focus that we see with Kobe Bryant. It's the focus that we see with any all. What do you think? All the fucking things on NBC, all those people on NBC right now. Do you think they play tennis? No. Do you think they're out golfing? No. Are they water skiing? No, they are strictly ice dancing, curling, snowboard jumping, whatever they're doing in the Winter Olympics over there in Italy right now, they are linearly focused on one thing. So when we try to do all of these things and we think, oh, I'm the solopreneur. That's the worst thing that you can be. You need help. And it's the hardest thing for us mentally as solopreneurs is to make that first hire. That first hire could be chat GPT for E version, right? It could be quad, it could be grok, it can be anything. That's something that, that's the total different mindset today. And that's what I'm trying to teach my daughters, right? I told my. It's funny because. And life evolves. My 20 year old, I sent a coding camp when she was like 10. Now it would if she was 10 again. She's going to AI camp this summer as opposed to coding camp, you know what I mean? And that, that's the thing that I think that we have to keep up with, especially when you're my age. I'm 52. It's harder for us mentally, right? But man, I am trying to become an expert in AI and I, I don't even know I'm looking at here. I've got three monitors in here, nine AI, nine AI apps I have open right now, right. And each of them serve a completely different purpose. I believe AI is the new virtual assistant. If you are leveraging AI well enough, you may not even need to have employees. There's people that are building 20, 50, 100 million dollar companies right now with no employees. Just one person can do that. So I'm leveraging AI tremendously right now.

Alex [00:44:59]:
And times have changed. I mean times have changed. Like you mentioned coding and now AI. I mean times have changed. You got to keep up with everything and to stay competitive 100%.

Bill Faeth [00:45:09]:
I look at my process of underwriting a new market to invest into that used to be manual. That was about 16 to 20 hours for me to go through like all the websites of documentation with those three entities I told you about, economic development division, planning, zoning, city council, just for that segment of it, let's call it 20 hours. I can now get that done in 30 to 35 minutes using AI, depending on like the county and how they have their digital assets set up. Some of it might be a little bit more of a process. But if I can do that and get that information gathered in 30 minutes versus 20 hours. Are you kidding me? That's the type of efficiencies that we have to look at to become better.

Alex [00:45:48]:
This is awesome. And I know you're working on your second book. Can you share a little bit about it or is that too soon?

Bill Faeth [00:45:55]:
No. I appreciate you asking the book is done. It's actually available for pre order everywhere. Vermillion, Barnes and Noble, Amazon, everywhere. It's called the two extra steps. And it's the one thing that has allowed me to separate myself from everybody, all my competitors. It's basically just doing two small things that your competitors are unwilling to do or doing two small extra things. I'll give you an example. When I started on my weight loss journey, you know, I started on a treadmill, you know, at incline 7, and then 9, and then 10, 11, 12, 13. Now it's inclined. Now I do incline 15. My doctor's like, I want you to do 30 minutes every morning. So what do you think I do? What's the two extra steps? What's 20% more? Right? So I'm doing 36 minutes, right? Bill, I need you to sauna four times a week, 176 degrees for 20 minutes. It reduces 40% all cause mortality. So I'm going 25 minutes five times a week. Right. Just a little bit extra. That's it. And for all of you guys that are short term rental hosts, what do you do when somebody bucks? Oh, your automated message goes out and you just say, great. Well, remember, in my genius zone, I'm a sales and marketer expert. Right? So what's super easy? Pull out this thing, unplug it, hit the camera button, hit the video button, hit the reverse button, and you can see this. And literally. Hey, Alex, thank you so much for booking my short term rental in Gulf Shores, Alabama or Montana. I look forward to hosting. Oh, by the way, my name is Bill Faith. I'm doing this podcast right now. But you were so important that you just booked that property. I wanted to take a second and say hello and let you know me and my wife Bria are going to be here for anything that you need. Boom, done. And then I text it to them. Nobody does that because they're too lazy. It takes too much time. I can't scale that bull. You can't? You ever heard of something called hey, Gen, build an avatar that can come in and literally do that through AI to where you can personalize it and integrate it through Zapier directly into your PMS to where it will send automatically. There are ways to do these things, but that personal touch does a couple of things from a sales standpoint. What, like what people don't understand is these small things. Alex, when somebody. When you. If you go, book an Airbnb today with the strictest cancellation policy, and let's say you're Going to drive down to Laguna and you're going to book $20,000 a night place. Or you could be booking a $200 a night place in Cerritos. I don't care. But for two days, 48 hours, you have the opportunity to cancel that at the strictest cancellation policy with no penalty. That's sales that I just did there. That's marketing. That's trust building as a host to where if I f up, I get the opportunity to recover. And that can be applied to the local coffee shop around the corner, a steakhouse, an H vac company, RV park. Any business that applies to. That's the perfect example of people are not willing. I introduced that video four years ago on my stage at my very first conference that I had a thousand people at. And every year since then at that conference, I've reintroduced it. And we went from actually 950 to 1100 to 3000 to 4000 people. So what is that? That's like almost 9000 people in four years at four conferences. And I promise you. And I put this on my YouTube channel. I put it everywhere. And my social media combined reach in a month is about 700,000 people. So think about. I probably reached millions of people with that one little thing. But I'll guarantee you less than 1/2 of 1% of the people are doing it. Yeah, right. It's. It's the small things. And I kind of, I learned that from Earl woods and Eldrick woods when I was 16 years old. And I think I shared you that whole story. And it's a long story. I'm not going to get into that, but I will share. There's a hotel in downtown Nashville called the Hermitage Hotel. For the last. I think it's like 27 years in a row. It's a five star, Five Diamond Hotel and it's the only five star Five Diamond Hotel in the state of Tennessee. The manager, Deep Patel, they used to be a client of mine, we're still really good friends. And I remember when I walked in there after I'd won the account away and taken away from somebody else, and I basically said, d, I will do anything that you need. And I proved it to her by doing some things. But when I walked in there to sign the contract, I'm standing at the concierge, the only clay door concierge in the state of Tennessee. Love the concierge there. She's now retired. But these are in. This young girl comes up and says, Mr. Faith, would you like some water? I said, man, I would Love to. I'm a little nervous. I got a three piece suit on. I'm like, like 315 pounds, sweating to death. And Dee's laughing. I said, man, D, it's hot in here. You got, you're making me nervous. I said, we still going to get this deal done? I grabbed the water and she's like, hold on, would you like lemon or no lemon? This one has lemon, that one's just straight water. And she walked away. And I said, that was so nice. And how did she know my name? She's like, that's their job, you're a guest. I said, I'm not a guest. She's like, it doesn't matter if you're a vendor, you are a guest. I said, really? Do they do that all the time? She shared something with me. She said, I require. And she was the rooms manager, not even the general manager at this time. She's like, I require all of our staff to plus one, a fellow staff member and a guest every day. And they have to report it at the end of their shift. I said, what's a plus one? It is just making somebody else smile or doing something nice for them that is completely unexpected. And that was the first time I said, d, that's two extra steps. That's what came. That's what that was probably 2006, 2007, my first little conference I did, I did in the limousine space and I had her there as a keynote speaker and she shared that. And like, if you've ever flown in and out of lax, right, or New York, or any of you guys that are listening and you travel and you come down the escalator to go down the baggage claim at any airport. It's really prominent in New York and Miami and la. And you see all the disheveled guys down there with the wrinkled signs that says Faith and Smith and whatever, right? And they look like they've been crumpled up and written in poor handwriting with Sharpie. You know what the guys do that? Take the two extra steps. They don't have a sign. They walk up and say, hi, Mr. Faith, my name's Mark Smith, I'm going to be your chauffeur today. And I'm like, mark, that's a little weird. How did you know who I am? We are trained to not look like those guys. And we do our research. We found your profile on LinkedIn. We're able to connect everything and we're very excited to have you here in Los Angeles today. It takes like five minutes of fucking Research, five minutes. That's it.

Alex [00:52:37]:
How did that make you feel, though? Right?

Bill Faeth [00:52:39]:
That's, that's, that's the whole point. Everything is about how you make somebody feel. When I do this, the response is, oh, my God, I book Airbnb all the time. Nobody's ever done that for us. I'll share one more super quick story because this was traumatizing for me last night. I'm flying home last night on my last leg, late at night, Denver, to hear I get a text message from a guest that just checked into my number one property in my portfolio, and it's ding, ding, ding, ding, ding. Photo, photo, photo. Beds aren't made. Crap in the. Like, literally crap in the toilet. Trash can on the kitchen counter, all this stuff. I'm like, what's going on? I text my wife. She. I said, you got to call the. Call the guest. And I said, and the guy's name was Vic. I said, vic, I apologize. I'm on a plane from Denver. He's like, oh, hey, we just flew in from Denver and it was a nightmare. I said, yeah, my flight was delayed. I had to run 52 gates. I thought I was gonna miss it, but let's not talk about me. Let's talk about you. I'm so sorry. What? He's all, the house isn't done. So this is. I'm like 45 minutes into my two and a half hour flight. I'm texting with my wife. Then all of a sudden, my wife isn't texting me back. Well, what I find out, you know, 20 minutes later, is my head's just reeling with everything that's going on. She's on the phone with the guest, and the guest walked into a property miscommunication. Cleaners didn't clean because the contractor was there when he wasn't supposed to be there. Thought they were doing construction. Wife didn't let him know guest was coming today because it had been taken out of our automation. Just a blunder of errors. And I specifically told my wife, own it. No excuses, apologize, comp, all these things. She's like, he didn't ask for any of that. He's like, he said, he's a host too. He understands. And he referenced your welcome video.

Alex [00:54:24]:
Oh, wow.

Bill Faeth [00:54:25]:
We luckily were able to put him in our brand new house two doors down for the night and then moved him back over today. But I had already comped their first night stay, like 600 bucks. I texted him and said, I know you told my wife you didn't want anything because we're putting you into a bigger house, you know, two houses down. But I have kids. I travel all the time. I know how stressful this is. I've already comped your first night stay. I have comped your cleaning fee, which was like 400 bucks, like a thousand bucks total. And then I said, I'll have breakfast waiting for you at 9am at the other house. Our cleaners are going there to clean it right now. And then, you know, you guys can stay at this house because we do have a guest checking in tonight. So you have to check out of the nicer one to go back over to this one at 10am and he sent me a photo of the breakfast this morning, which isn't like croissants. I literally had a restaurant do full eggs, bacon, biscuits and gravy. It was like a 300 breakfast. And a lot of people say, well, Bill, you're. You overcorrect all the time. Well, I'm a very discerning traveler. I fly first class. I stay in good hotels. I eat at nice restaurants. I want. I would want somebody to take care of me that way. I'm not trying to save money. I'm not trying to, you know, just not cost myself 10%, which is what the natural inclination is to, you know, to delve to. And I want to make sure that I over deliver because I believe that mishap, that opportunity. Number one, there's two points here that creates the opportunity for me to fail. If I don't do that and have other communication over the three or four weeks before that guest stays with me. I have no rapport, no relationship. I don't earn the opportunity to fail. So video is the next best thing to being, you know, face to face in person. Number two is when I overcorrect and I do something to make them feel like, wow, he really over delivered. He didn't have to do all that. They might actually give me another shot and come back. And instead of being in Gulf Shores, maybe they go to North Carolina with me or Arizona with me or Montana with me or someplace else. So tomorrow I will hit them with, hey, Vic, how's everything going? Like personal, not automated, Right? So sorry once again, you know, I'm apologizing every day. And tonight, bottle of. I think I'm deli. I saw them. I went to my security cameras, saw they had wine that they were taking into the house. So they have two bottles, $125 of silver oak Alexander Valley, not Napa Valley. But those are being delivered tonight. So tomorrow Vic, so sorry. By the way, here's the rest of my portfolio. I know you live in Denver. If you ever want to head down to Sedona or Scottsdale or up to Montana or something, I'm going to give you another 10% off, you know, just, you know, book it in the next seven days or something for the upcoming summer. So to try to drive to extract more revenue out of his pocket, because I've overcorrected, that's where I see I'm now in about 1300 bucks into him, right where I probably could have got away with nothing. But I want to win him over for life because I'm only focused on lifetime value of every single customer, even when I'm flipping. When I flipped, I flipped 21 properties in Gulf Shores in less than 24 months. And literally I had two buyers, two buyers that bought more than three properties from me. Where most times a flipper flips, they don't even know who the buyer is. They don't create a relationship with them. Well, they were investors too. They just happened to be short term rental investors. So we were flipping at that time. We still were in short term rentals, but they knew we were building properties that would cash flow for them. Does that make sense?

Alex [00:58:02]:
Yep.

Bill Faeth [00:58:03]:
That rapport, that sales component, that welcome video, those two extra steps is what leads to success. It's just doing two small things to improve your life that nobody else does.

Alex [00:58:16]:
But that's also, you know, going back to what you mentioned is like running a business versus, you know, an Airbnb or just you have a property or a transaction. It's that overall experience of what they're going to remember from you and then, you know, bring you business in the future, whether it's in Denver or referring somebody else when they come into town. And I noticed that that's something that, you know, many people miss is differentiating, you know, between knowing that you have a business versus just transacting and worrying about the transaction.

Bill Faeth [00:58:44]:
I can tell in 30 seconds if somebody is a lifelong real estate investor that treats their business, doesn't matter what sector they're in, wholesaling, flipping, short term, whatever, or if they're just in it to be transactional in a 30 second conversation, don't even need to see them face to face. Just the words that they choose, how they communicate, says everything right. And for me, I'm in every single, every one, every, every piece of real estate for me is its own standalone business. You know, and it's, it's interesting. I've got a seven cabin micro resort on 16 acres in Montana. Now. And every one of those transactions, every one of those rentals, every one of those guests is its own. The cabin's its own business and it's its own customer, right? And they have a journey that they're going to go on. The only one, the only time it becomes together is when they rent out the entire, you know, resort together. And I think people have to be focused on. Most people, I think that are that way have never been educated, really don't understand lifetime value of a customer and lifetime value of a relationship. And even in wholesaling and flipping, there's lifetime value if you position it correctly, if you invest. And all this is, is about investing in the people. That's it. I mean, that's what the welcome video is all about. Is that I want, I want Vic, that guy that I had the issue with last night, literally to say, man, this guy already invested into me something that nobody else has ever done. And even if he doesn't say that to his wife, hopefully he feels it subconsciously. That makes sense. That's the unsung hero about doing the two extra steps. Many times the person that you're doing this to doesn't know. Many times when we're doing this for ourselves, we don't even notice it's that small. It doesn't have to be huge. It's subconscious. That's where we win.

Alex [01:00:37]:
Bill, this has been a great conversation. I truly, truly enjoyed it. I appreciate the value and information you've shared. What is to end this? What is like one piece of advice that you can share with a newer or aspiring investor that you wish someone gave you early on.

Bill Faeth [01:00:54]:
Get the shit out of your head, all the negative thoughts and don't listen to anybody except for the people that are there to push you to do better. So what I mean by that is, you said it earlier, Alex, you can get into real estate with no money. We as human beings turn molehills into mountains. Right? You need to be the dog that jumps over its own shit. Don't be the ant that gets stuck behind the turd and can never get around it. Right? I just thought that up. I've never even used that analogy before.

Alex [01:01:28]:
I love it.

Bill Faeth [01:01:30]:
99% of us are the ants. We have to train our mind to get rid of the clutter so we can think about that positive outcome. And I know you may want to get into short term rentals because it's sexy, or you may want to get into boutique hotels because that's Sexy. Start literally with, you know, a small investment, right? And start with co hosting. You know, that's basically property management without all the strings attached to it. Start with wholesaling, as I said earlier, become a bird dogger and just find deals for other people. You literally can go find, learn how to underwrite deals for free and then go find some deals for wholesalers or investors or long term renters or hotel buyers or short term rentals and just start delivering deals in these Facebook groups and become the guy that's known as giving these deals away for free for like 60 days. Then start charging for them. It's so easy. It's so. It's so GaryVee. To get started in real estate, you just got to have the hustle and you got to have the positive mindset to get rid of all that clutter out of our head so we can think clearly. And if you're hanging around with those people that tell you you can't do it, get rid of them and find people that tell you that you can.

Alex [01:02:39]:
Beautiful. Appreciate the advice. It's been tremendous. I'm so excited to get a copy of your book as well. So if, you know, check out his book on Amazon, what other places you mentioned that we can get it.

Bill Faeth [01:02:52]:
It's everywhere. So this one is super properties that' you know, bam Books, A million Barnes and noble, Amazon superproperties.com. the next one, this is a bestseller by the way. The next one's in pre release right now. It's two extra steps. You can just type in two extra steps, Bill Faeth. You'll be able to find it. The hard copy. I don't even know when it's coming out. It's a couple of months, but you can be the first one to get it. I think we just started pre release like last week.

Alex [01:03:19]:
Beautiful, beautiful. I look forward to it. Thank you so much again, Bill. I appreciate you taking the time and sharing all this information with our listeners.

Bill Faeth [01:03:26]:
Awesome. Thank you, Alex. Have a wonderful day. Thank you. Everybody at home.

Alex [01:03:29]:
Safe travels. Thank you all for joining us on the BRRRR Investor Podcast. If you found today's episode helpful, please hit like and subscribe to our channel for more real estate insights. We love hearing from you, so please leave your thoughts, questions or topics you'd like us to cover in the comments section below. Be sure to check out our website, thebrrrrrinvestor.com and follow us on social media @thebrrrrinvestor. Keep learning and investing and we'll see you in the next episode. I'm your host, Alex Nahle. Stay invested.