STR Rental Arbitrage Greater Houston
I'm looking into the possibility of doing some STR rental arbitrage in the greater Houston area. Presently, our STR's are out-of-state with properties we own--just looking to do something closer to home but not wanting to buy in the current market.
Any property owners out there with small properties willing to consider arbitrage? Heights, Medical District, Museum District, etc.? I'm honestly not too picky in terms of area provided it cash flows. Would even consider suburbs (Katy, Woodlands, etc.)
Thanks!
We have quite a few properties where we allow people to STR them. I don't want to post our URL as I don't want to come off as advertising, but I can message you. Almost all our stuff is in montrose, museum, med center, etc. Mostly 1-2 bed apartments but some homes.
I own a townhome in Houston. I've been approached by 2 ppl the past 4 months about using my property for arbitrage. Wasn't interested but now open to hearing more details.
Quote from @Unakem Kazeem:
I own a townhome in Houston. I've been approached by 2 ppl the past 4 months about using my property for arbitrage. Wasn't interested but now open to hearing more details.
I get emails from people all the time from sites like zillow, apartments.com, etc saying "Do you allow commercial leases" (which is code for "can I STR arbitrage?"). Our team has a canned response that basically says "Yes, at some properties. here is a link..." etc. I'd say 99 times out of 100 we never hear back (which begs the question of why are they bothering to reach out if they don't follow up with the yes replies).
If I were you, don't seek them out. Almost always it'll be a waste of time. If you do get contacted by someone who is serious (with experience) then just request a large deposit to protect yourself.
Thanks for this insight/feedback!