Buying STR from Open Door

[Akeelah Kuraishi]

Has anyone had any experience purchasing a STR through open door? Would like to hear about it.

[Luke Carl]

If it's listed on a website is it really off market?
Is off market even a good thing (in late 2023?)
Is it really a "STR" or is it just a "SFH" and what's really the difference?

Deep thoughts :)

[John Underwood]

I would treat it the same as any other contract to purchase. Make sure the numbers work. Make sure there is nothing abnormal in the contract. 

[Leslie Anne Morris]

I've bought a property from Zillow back when they were still doing that.  Experience is very similar to buying from a normal seller, but overall less negotiating power.

[Michael Baum]

Hey @Akeelah Kuraishi, like everyone else said, just treat it like any other purchase. Work the numbers and go from there.

So what makes this a STR? Has it been working as a STR? Have they provided the numbers from previous years? Sold fully furnished? Like @Luke Carl pointed out, you need to find out what they mean.

Plus, don't pay extra for a STR. It is worth what it is worth based on comps.

[Zach Edelman]

No, but wouldn't this technically just be an SFH purchase, like @Luke Carl is saying? 

[Adrian Castillo]

Quote from @Akeelah Kuraishi:

Has anyone had any experience purchasing a STR through open door? Would like to hear about it.

Akeelah they are Ibuyers, just like offer pad. I have experience with them and they strictly sell SFH products, since the end user will purchase with traditional financing. Therefore, they are trying to get the highest possible offer, which is not ideal for investors my humble opinion.

[Raymond J. Rodrigues]

@Akeelah Kuraishi, if you're looking to buy a STR in the area that you mentioned, I recommend reaching out to @Josh Green