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Updated about 7 years ago on .
Help me brainstorm on this...
Hi everyone,
My company owns and manages currently 41 short-term rentals across 10 cities in the US and Italy. We recently struck a deal master-leasing 12 new units to go up in July in a 42-unit building in a city we're very bullish on - it was a unicorn deal and I'd love to hear any ideas on how to find more of them. While we'd prefer buying property, since we're already set up operationally, doing rental arbitrage still makes sense for us. Some ideas:
- Hire sales guy to contact all new owners of multis that fit our criteria in our target MSAs - can buy list from lead gen service. Offer to master lease whatever units are currently vacant and gradually take over the others at lease expiration or via cash for keys.
- Contact large PMs in target MSAs - offer above market rent, 4+ year leases.
I contacted Costar which seems like they could be a good source. Hoping for some other ideas here?
Thanks everyone!
-David