Do you believe that Co-Living investment is the fastest way to financial freedom?

[Grant Shipman]

I’ve been exploring the benefits of Co-Living investments and am curious to hear your opinions! Have you tried Co-Living or know someone who has? What are your thoughts on its potential to deliver financial freedom quickly compared to traditional real estate investments?

Let's discuss and share our insights!

[Spencer Cornelia]

Rent by room / house hacking / co-living should deliver significantly higher cash flow than a traditional rental.  in my experience doing this in Vegas - the gross rental income is about 50% higher.  i have much higher expenses and more headaches of course, but cash flow is higher.

most major tier 1 or tier 2 cities should have significant enough rental demand to be able to implement this strategy pretty successfully.  You better be prepared to handle the management though..

[Joan Piccalo]

I think the zoning laws are iffy and it's a risk that many investors are taking - and getting away with. But enforcement and the nosy neighbor (or noisy tenants) could ruin it all. There's a huge demand for it - it solves a problem in the housing market - but I'm just getting started and too skittish of the zoning personally.

[Lotus Eli]

Hey Grant,

I co-lived in Estes Park and several other places during a travel mission I undertook as part of a personal journey to get more in touch with myself. Co-living investors make a significant profit. For example, if the typical rent per unit is $1,500 (3bd 2ba), my landlord at the time would have one unit with three rooms and four people within the unit (one person per room and one room with two people), each paying around $500. The people with single rooms even paid a bit more. Ultimately, he was making $2,100+ a month per unit! He ensured that the structure, HVAC, plumbing, and electricity were well-maintained, and rarely had anyone coming in for maintenance fixes. If there were any, they were minimal, meaning not much maintenance was needed. He had about 10+ units, and when I tell you he was making bank, he was making bank! 20K a month and he had several buildings!

In all, when you invest in co-living properties, you have the opportunity to double, and depending on your location and how you structure your investment, potentially triple your income per month! I have a bit of experience with co-living investors, having been involved in several co-living investments for five years. I would love to give you more insight, and I really think you should consider obtaining at least one co-living investment, especially because you are in Estes Park, Grant! Throughout my investing journey, I definitely want a co-living investment!

[Grant Shipman]

I  appreciate hearing all your comments.  By exploring the benefits of co-living, I don't mean that I don't have experience with it.  It is actually the only thing I do.  We do co-living for the main stream.  I live in Estes Park, but haven't offered co-living up there yet.  We run a special kind of co-living property management that has houses mostly run themselves, 97% occupancy, and over 2 year average tenancy.  A fulltime property manager manages 140 leases.  My current thoughts on it is that co-living is the king investment compared to other investment strategies, but the investor must be using the right tools: co-living property management system, asset management system, and a great team.  Otherwise, like any investment, profits get eaten up and headaches balloon.  Are any of you currently investing in co-living properties? 

[D. Dee]

@Grant Shipman hi Grant, I would love to connect if you don't mind. Would love to hear more on how you set up your properties to get that 97% efficiency. Newbie here btw.