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Updated over 1 year ago,
Exclusive Right to Sell 3,300 Residential STR
Hey there, my team and I have the exclusive right to sell an entire project. It's probably one of the largest beach and oceanfront developments.
We are preselling the units for about $850 a sq ft, where as comparable properties are selling between 1,500-4,500 a sq ft.
This is resort-style living, which will mainly be used as second residences as well as Short Term Rentals like Airbnb/VRBO. On-site will also be the largest marina in the state of Florida with over 1,000 slips wet/dry.
We own the 181 acres of beach and oceanfront views with Gulf of Mexico access and stunning boating destinations nearby.
We have about 11 days to sell another 90 units in bulk, preferably in sets of ten. We have multifamily, and various sized SFH for sale.
My question is who, and what companies would you target to purchase these units that can be used for STR?
I don't mind making some calls, and we have some meetings booked but I'd like to have more leads in the pipeline. Buyers just need to put a 10k deposit for each unit.
So how would you sell these units? We will have a marketing budget in the next few months but at this time we don't have one.
I'm not advertising, I am genuinely asking for advice and ideas to help me locate groups, companies and individuals that love to purchase units for STR.
So, how would you pre-sale these units if you had to? Do you know what entities purchase STR units in bulk? The community will be managed by a large professional third party to ensure a consistent experience. It's not a condo-hotel sale but the way the units can be enrolled into the rental program is very similar, if you enroll your unit, the management takes a cut, pays almost all of the bills and then sends you the remainder. They handle the everyday business and buyers of the units can keep them for themselves or choose to enroll in the rental program.
How would you sell these units in bulk if it was up to you? I'm open to all ideas and I love learning that's why I always return to Bigger Pockets.