Meet Alex Veytsman, Founder & CEO of The Offer Sheet
Meet Alex Veytsman, founder & CEO of The Offer Sheet, a curated list of the most unique and lucrative short term rental investment opportunities hitting the market the previous day, delivered daily. Having become a self-proclaimed “Zillow-enthusiast” during the pandemic, Alex found himself spending hours at a time searching for the coolest, most architecturally-unique homes he could find, which eventually lead to the inception of the daily newsletter.
How did you first become interested in vacation rentals & real estate investing?
Similar to the hordes of others who became Zillow enthusiasts during the pandemic, I too found myself spending hours at a time looking for the coolest and most architecturally-unique houses I could find. This was partially because my wife and I happened to be looking for a home at the time, and partially because owning second, third and fourth homes was always appealing to me as a way to build long-term recurring income and equity. Real estate is the ultimate way to use borrowed money and gain leverage. In what other business or venture does someone else– in this case, the bank– take on 80% of the initial cost and risk (assuming a 20% down payment), and then take $0 in profit when you go to sell? To then be able to take that leverage and double down on it will always be in-demand for a short-term rental, and effectively will always retain its value over time– especially given the short supply of unique houses– is a no-brainer. However, my wife and I were a bit busy buying our own primary home not too far from NYC and having a baby. There just wasn't the time to devote to building an Airbnb empire quite yet. I figured if I'm looking for these types of houses as a side hobby, why not explore a side hustle?
Why did you start The Offer Sheet?
Around the same time, I began understanding the power of newsletters (and eventually heard & learned more about the beehiiv platform, to which I ended up moving), and how many folks had started their own newsletters on random subjects that were of interest to them. I knew firsthand how fun– albeit tedious– it could be to look for the perfect investment property for hours a day; why not hand that to folks on a daily basis by giving them a sense of the potential profitability for each property? This way, they’d be able to choose what fits them best from an already pre-curated daily list.
"Real estate is the ultimate way to use borrowed money and gain leverage."
What has surprised you the most while building out The Offer Sheet?
How quickly we had a number of success stories of folks using the newsletter to buy their dream investment property. We are currently working on a dedicated section on the site to share all of these great testimonials.
It’s no secret that our space has garnered a lot of interest! What are the hurdles you see holding back first-time real estate investors?
Taking the initial plunge with anything is scary because of the unknown– especially if you’ve been burned before with investments of any type. You’re always thinking about derisking. There is always the thought of ‘maybe I should wait–’ for the perfect interest rate, for the perfect house, for the perfect location, for the perfect time.
"Summer has created an ingenious method of minimizing risk in the short-term rental experience for first-timers."
How do you see a business like Summer being able to help?
Summer has created an ingenious method of minimizing risk in the short-term rental experience for first-timers. They have the ability to pay a down-payment, have the house fully-managed for them, and test things out before fully committing to being the deeded homeowner.
What’s next for you & The Offer Sheet?
We plan on continuing to grow the newsletter and expand offerings to make it easier for folks to find their dream homes; for example, we’d love to incorporate a tool for folks to filter by location, price, and more non-negotiables to accompany our newsletters. This has been the biggest point of feedback for us from subscribers thus far.
Where would you personally love to own a vacation home?
Now: Vermont, Miami and upstate NY (in that order). Later in life: CO, OR, CA (whichever order).
Alex Veytsman is passionate about startups, investing, real estate and his New York Rangers. When he’s not cheering on his favorite hockey team, spending time with family or taking long walks in the park, he’s probably looking for folks to network with in and around NYC.