Anyone has good experience with Airbnb Arbitrage property finders?

Question

Those people claim they can find landlords ready to sign a lease. They charge a flat fee using Upwork and provide a one liner contract

Blake Novotney · Answer

I have seen this before. It is becoming a new type of wholesaler almost, charging an assignment for finding the landlord and lease.

Timir Shah · Answer

@Alice Chen I would NOT use Upwork. I think if you’re going the route of STR, there are property managers you can find in your market through Realtors or AirDNA.

You can also self manage if the property is close to you and you’d need a team of cleaners and handymen which you can find through Angie’s List or Facebook forums

Sarah Kensinger · Answer

I understand that since I call long term listings that have been sitting for a while and convince the owner to go STR and let me co-host. But it's part of the strategy and job a person has chosen, and once you have your "script" figured out it's not that hard. Yes, it does take time, but so does analyzing each property to see if it can operate strong as a STR. And that's something you simply can't not do!! It's just part of the game.

Alice Chen · Answer

Let me see if I can answer your questions :) Why would some hosts want to hire and pay a property finder? Because it could be very time consuming and most of the landlords I know do not want to deal with subleasing at all. or have no idea what STR MTR means. From homeowner's perspective, they may be in an oversupplied market and hard to find long term tenants with the rate they want.

Alice Chen · Answer

Only City of Las Vegas I think. Not the "unincorporated Clark County".

Michael Baum · Answer

Hey @Alice Chen. So Upwork is just a way to find people to do work for you. They have been advertising heavily in my market. It is legit for sure.

These are individuals who offer a service. I kinda doubt it is worth the money.

Personally I would avoid.

It's like someone selling you a sure fire way to make money by charging tolls on a bridge they will sell you.

Sarah Kensinger · Answer

Oh and don't forget STR in Las Vegas have to be owner occupied.....

Sarah Kensinger · Answer

Upwork looks like a legit website, but I have one question. Ideally the leasee for arbitrage should get all their money they invested (cost of furnishing, deposit, etc) back out within 6 months, and then have 6 months profit. If the lease is renewed that makes the profit better, if it's not renewed there is at least a 6-month profit. So, for someone who knows how to run this business model, why would they be added more money invested by hiring someone to find houses instead of doing it themselves? Or is this something you as the homeowner would pay someone to go find someone to arbitrage?