Sandwich leases / AirBNB

[Sonia Peak]

We are beginner real estate investors (Phoenix area), and we want to get into the STR / vacation rental market. I have read that many people do “sandwich leases” or “sublet agreements” on a lease in order to turn around and list in on AirBNB for profit. This interests me, because it would be nice to try out a certain area to see if it’s profitable before creating a higher risk situation by putting a bunch of money into purchasing a place. My question is: 1) how do you find landlords willing to allow you to sublet as a STR? 2) has anyone had luck sending letters/emails with a proposal to a landlord? Any advice is appreciated. Thanks!!

[Paul Sandhu]

If you tell your landlord what you plan to do, it doesn't take too much thinking for him to think "Why don't I do this myself? I have a wife/cousin/neighbor/friend/inlaw that can help me do what Sonia Thiebeau is going to do in order to run the property as a STR or VR".

But, I digress. My suggestion would be to look on Craigslist for a suitable rental.  Or buy a house with cash and do it without any restrictions. 

I've had success renting out my 22 STR's to travelling contractors at a local petrochemical refinery and sister fertilizer plant. Maybe find a niche, other than vacation rentals. I know some people that buy campers, fix them up, and rent them out by the week.