Coliving Padsplit type of homes

[Gp G.]

I attended one seminar recently on coliving by a presenter based on an advertisement on social media. He says I can make around net income of 5000$ a month with one property with an average income of 800$ a room using a coliving model and scale up very fast compared to like 200$ monthly cash flow of long term rental. Did anyone try a coliving, padsplit type of model? Also the presenter says it is better to have a big square feet like 2750 square feet to make more rooms and with more bathrooms with more parking space also near to the public transport. I am not sure whether coliving like a short term rental business will also go through a lot of restrictions in cities, counties, and municipalities in near future if not already. Anyone doing this type of business model. I like to connect and learn more. This real estate presenter has a coaching program charging thousands of dollars for one year coaching as well. Is it worth spending that much money on this type of coaching? Does any property manager manage these types of properties? Is it hard to get lending to purchase homes working on this business model? What are pros and cons and risks of this coliving padsplit type of approach? Please advise.

[Victor So]

Quote from @Gp G.:

I attended one seminar recently on coliving by a presenter based on an advertisement on social media. He says I can make around net income of 5000$ a month with one property with an average income of 800$ a room using a coliving model and scale up very fast compared to like 200$ monthly cash flow of long term rental. Did anyone try a coliving, padsplit type of model? Also the presenter says it is better to have a big square feet like 2750 square feet to make more rooms and with more bathrooms with more parking space also near to the public transport. I am not sure whether coliving like a short term rental business will also go through a lot of restrictions in cities, counties, and municipalities in near future if not already. Anyone doing this type of business model. I like to connect and learn more. This real estate presenter has a coaching program charging thousands of dollars for one year coaching as well. Is it worth spending that much money on this type of coaching? Does any property manager manage these types of properties? Is it hard to get lending to purchase homes working on this business model? What are pros and cons and risks of this coliving padsplit type of approach? Please advise.

Not sure how it is in Atlanta but in Chicago (and suburbs) many municipalities are becoming more and more open to the co-living style of housing due to lack of supply and affordable housing. I have a house that I rent bedrooms in. There’s 8 bedrooms and I get 800-1000 per room per month. I would never be able to get this going the traditional route. It’s definitely more operations heavy simple due to the sheer number of tenants that occupy the home but I feel it’s worth the cash flow