All Forum Posts by: Oliver Sanchez

@Corey Potts we use Cobot as a space mgmt tool. Your members can book offices all through a shared calendar. You can check the out cobot.me

We handle our billing, membership plans and all through there. Has been very efficient.

@Sean Sullivan Will be happy to share my experience. I am still involved with the Coworking space, in fact I decided to quit my full-time gig to do this. In part because it wasn't growing as fast as I'd like.  Currently the space I manage is 2,000 sq ft, but I'd say that you need at least 5,000 for it to be a decent revenue generator. Ideally in the 10,000 sqft.  Regarding day to day mgmt. I'd say that developing a vibrant community does require you to be there constantly, organizing events, creating connections, services etc..so way more mgmt intensive compared to my rentals. Profitability depends on the lease you sign. We try to partner with landlords and do a profit share..easier said than done. Regarding the connectivity, I haven't had any huge issues but I do know that offering wired internet and wifi can ease some of the pains.  We are looking to expand and looking for locations and new partners now. If you'd like to connect more let me know.

Hello Samia-

I manage a coworking space in Cambridge,MA but originally looked at the suburb market. The demographics are certainly different. Our space in cambridge has had increasing success and I would say it has to do with the type of members. The suburb market you would find by definition a different type of member, more studio, freelance type. As opposed to early stage startups that is commonly the norm.

Hi Chris!

Its been an interesting journey. Focused right now on customer acquisition, community building and strategic partnerships. Certainly not what you usually do with a real estate property. Let me know if you'd like to chat.

Best

Oliver

Thank you! @Michael S.

Yes, that's the basic RE deal, however its heavier on the management since you have to develop a community and generate content. That is why the Regus model is not the same. One of keys is a partneship with the landlord, per sq ft prices need to be reasonable in order to make any money

Pivoted from Residential investment to Coworking space management. One becuase I like to be surrounded by entrepreneurs and passionate individuals and two because finding good residential deals seemed unsustainable in the Boston market. I am learning and making mistakes along the way. Will be happy to share both the positive and negative and how a creative space can improve returns on your RE assets.

Hi Will-

I just recently opened my coworking space in Cambridge. plugcambridge.com

Feel free to contact me about questions, similar to you I started thinking of this as a real estate deal. I partnered with a Brazilian coworking operator and partnering with other people to provide the community (very very important) Feel free to contact me directly to discuss.

Exactly! I've been following closely the convergence between these trends. There are some exciting things coming up in the pipeline that might be of interest to you. I've seen some developers talk about a combination residential/coworking within the same building. You are living and working in the same cool space (save on parking, transportation cost, and you have all the services wifi/phone/printer). The coworking can be a huge draw depending on where the building is located.

Hi Jon-

Thanks for the welcome. Yeah, we could def start small. Optimally the business  model works at 6,000 sq ft and above, but we are considering all options. A lease to own deal would be ideal but we'll need to find the right owner/partner.