Podcast episodes 560 + 562 make a killer inspirational combo. About 38 minutes into 560, Sam mentions a spreadsheet he uses for additional expenses when following a co-living strategy, that he would be "happy to share". Where can I find this spreadsheet?
Rental Property Investor · Estes Park, CO · Member since 2017 · 282 posts · 1k+ votes
3y
I love Sam's stuff and I noticed he hasn't had time to chime in yet here. Here's the Livingsmith Coliving Calculator that I've been using since 2000, and I think it sounds like Sam does things how Livingsmith does. He can chime in on any differences.
The main gist is that coliving SFR rentals are two matters:
1) Special Items for Coliving: Coded Entry For Front Door (my properties use Schalge), keyed doorknobs for bedrooms, furnishing common areas (kitchen table, couch, kitchen items, kitchen table, living room TV, patio furniture, lawn mower, etc), 2nd & Maybe 3rd Fridge.
2) Reserves For Repairs / Cap-Ex / Vacancy: This follows the same reserve rules that BiggerPockets, Keller (see book "Hold"), and others teach: 8% for repairs, 8% for cap ex, & _% for vacancy. However, b/c CLH (coliving housing) take in atleast 2X rents, then the reserves for repairs & cap-ex can be cut in half (4%). This is of course assuming the property is in average condition or better.
You'll find all of the above in the linked Coliving Calculator. Please let me know if you have any questions, and I'll happily defer to Sam on any of these matters as these questions were directed to him. Coliving FTW!!!
For anyone coming back to this, I was able to join his Facebook group: colivinginvestors. He's on there frequently and will even answer questions occasionally.
Rental Property Investor · Estes Park, CO · Member since 2017 · 282 posts · 1k+ votes
3y
I love Sam's stuff and I noticed he hasn't had time to chime in yet here. Here's the Livingsmith Coliving Calculator that I've been using since 2000, and I think it sounds like Sam does things how Livingsmith does. He can chime in on any differences.
The main gist is that coliving SFR rentals are two matters:
1) Special Items for Coliving: Coded Entry For Front Door (my properties use Schalge), keyed doorknobs for bedrooms, furnishing common areas (kitchen table, couch, kitchen items, kitchen table, living room TV, patio furniture, lawn mower, etc), 2nd & Maybe 3rd Fridge.
2) Reserves For Repairs / Cap-Ex / Vacancy: This follows the same reserve rules that BiggerPockets, Keller (see book "Hold"), and others teach: 8% for repairs, 8% for cap ex, & _% for vacancy. However, b/c CLH (coliving housing) take in atleast 2X rents, then the reserves for repairs & cap-ex can be cut in half (4%). This is of course assuming the property is in average condition or better.
You'll find all of the above in the linked Coliving Calculator. Please let me know if you have any questions, and I'll happily defer to Sam on any of these matters as these questions were directed to him. Coliving FTW!!!
Podcast episodes 560 + 562 make a killer inspirational combo. About 38 minutes into 560, Sam mentions a spreadsheet he uses for additional expenses when following a co-living strategy, that he would be "happy to share". Where can I find this spreadsheet?