Co-Living like Sam Wegert
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?
Excited to be a part of this community!
Would also love this spreadsheet. Great episode.
would you share lease and spread sheet? Thanks
Quote from @Thomas Keady:
I messaged him on instagram and never got a reply. I will share it if and when I ever get it.
Same I messaged him and never got a reply. By any chance were you able to find the spreadsheet?
No, I have not. I will share if I ever get it! At this point, I may have my own version sooner.
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.
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.
Calculator Link to Download (if this link stops works, please message me or comment for updated link)
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!!!
Quote from @Thomas Keady:Hey y'all!
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?
Excited to be a part of this community!
So sorry I'm only able to get on here today!
If you go to Episode 560 and scroll down to "extra resources on rent by the room", all links to the resources I've mentioned are already there: https://www.biggerpockets.com/blog/biggerpockets-podcast-560
Hope this helps!