What is your opinion on using The Offer Sheet to find a property?

Question

https://www.theoffersheet.com/

I'm stuck in the dreaded, analysis paralysis, and I'm wondering if it would help narrow my focus. I had my short list of 3 cities to choose a property in, and then curiosity got the best of me, I analyzed 5-6 more places and now I'm lost in the weeds again. Any advice to get out of the rut would be greatly appreciated as well.

Michael Baum · Answer

Hey @Corbin Wright, so this site came up earlier and I am a little dubious.

Essentially, just because the property is working now, doesn't assure future success.

So much goes into creating a successful STR that it can be difficult for those that have never done it to maintain the level of success.

They want you to subscribe as well as pay for the "Pro" subscription. Not my cup of tea.

You best bet IMHO is to drop the deals right here in the forum for us to look at. There is a lot of experienced people here that can help.

Alex Veytsman · Answer

Hi all,

Alex here, founder of The Offer Sheet.

@Corbin Wright I'm not sure our newsletter would help "narrow" your focus in terms of location, if anything it might do the opposite. The purpose of our newsletter and service is to find and provide the most unique and in turn, what we believe are the most profitable potential STRs hitting the market daily. They may have already been STRs previously, or not.

But we are doing a nationwide search daily for these properties, and have a team looking for the most unique of these that we think would provide the best opportunity at profits quickly (turnkey as much as possible).

@Michael Baum - In terms of the Pro subscription, it's definitely not a must. We share two properties daily with all of our subscribers. Maybe folks are not ready to buy, but it kind of whets their appetite to see what's out there in terms of the most unique properties and as a result, what may be some good markets to buy when they are ready.

For those looking more aggressively, the Pro subscription offers the full set of daily properties (10+ daily), plus usually another 30-40 in a (filterable by state and city) google sheet that didn't make the cut. And lots of other goodies, which I won't bore you with cause it will sound like self promotion, which isn't my intention here.

For anyone with more questions on what we offer, let me know!

Sarah Kensinger · Answer

What areas catch your eye, what places do you see yourself visiting, what locations can you get so passionate about, that you'll make your property the best STR for miles around? Once you have the answer to these questions, you'll know what area to zero in on. There are thousands of locations that make a great place for a STR, but if you can make it personal not only do I believe a self-managed STR performs better, but it helps with analysis paralysis.

Also, if you need help running numbers, we offer that complementary to anyone, so feel free to reach out!

Evan Hopple · Answer

@Corbin WrightHappy to help with locating OH investment properties if you're not finding the right deal in those locations. The best deals are going to be sourced by local agents in your target areas that focus on investment properties and have the local knowledge/direct to seller connects

Michael Baum · Answer

Hey @Corbin Wright, so personally I look in vacation markets only.

Beach, lake, mountains, skiing etc. I am not buying in cities for a downtown hip vibe sort of thing.

When you research an area, first check and see what kind of rules/regs there are on STRs. If they all check out then take a look on VRBO and AirBNB to see how many STRs as well as what types.

If you see quite a few, then you know it can work. What are others charging for what size? Check their calendars to see how full.

Area's like Broken Bow, OK seem to have a lot of success with smaller cabins. 2/2 for example. The larger places do rent, but the smaller places seem to be more successful according to other members.

Pigeon Forge has a lot of rentals and larger cabins do very well, but smaller places do as well.

Corbin Wright · Answer

I agree that current success doesn't translate into future success especially since it will be my first property. Do you have a recommendation as to how I should narrow down my search to just a few areas? Seems like the most logical way to do that is make sure it's a good market/deal and personal preference but there's plenty I've found that could be good deals.

Corbin Wright · Answer

Areas in and around: Asheville, Banner Elk, Blowing Rock, Boone, Highlands. As well as Fredericksburg, TX.

These areas have traffic year round and are close to tourist attractions.

Andrew Steffens · Answer

What cities are you considering, and why?

What is your opinion on using The Offer Sheet to find a property?

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