All Forum Posts by: Grant Shipman

Any specific banks that will offer a 2nd position HELoan or HELOC based on rental property performance, bank statements, etc (not w2 or employment status)?

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!!!

These are all really great- thanks to each of you.  I will have my manager personally check or recheck all of them.

Hello,

I'm looking for a Property Management Company Network (peer network) that my full time property manager who runs my PMC can join.  Please send recommendations.  We use PMC Software RentecDirect.  Please comment with links or anything at all- we want the best.  We are fine w/paying, but we are not looking for coaching but a peer network.  Thanks in Advance :) 

Dear BiggerPockets Community,

Have you heard of coliving? It's a modern form of communal living that emphasizes shared spaces, community, and convenience. Coliving communities typically offer all-inclusive living arrangements with flexible lease terms and a range of amenities, making them particularly appealing to millennials and digital nomads.

But here's the exciting part: coliving is not just a lifestyle trend - it's also a rapidly growing investment opportunity. As demand for affordable housing and community-oriented living continues to rise, coliving communities are becoming an increasingly attractive option for real estate investors.

According to recent research, the global coliving market is projected to reach $9.6 billion by 2025, with significant growth expected in major urban centers like New York, London, and Tokyo. With the right strategy and approach, investing in coliving communities could be a lucrative opportunity for those looking to diversify their real estate portfolios.

To get you started, here are a few things to consider when investing in coliving:

1. Location: Coliving communities are typically located in urban areas with high demand for affordable housing and access to amenities like public transportation, shopping, and entertainment.
2. Amenities: Coliving communities often offer a range of shared amenities like co-working spaces, fitness centers, and social lounges, which can be a major draw for potential residents.
3. Management: Must be specialized management for coliving or it will result in high turn-over, tenant conflict, and property damage.  This all drastically effects your cashflow. 
4. Investment structure: Coliving investment opportunities can take various forms, including direct ownership of a property, joint ventures with experienced operators, and crowdfunding platforms.

If you're interested in learning more about coliving and its potential as a real estate investment opportunity, I invite you to join the discussion in the comments section below.

Best regards,

Grant Shipman

 I think you brought up an important point. thanks for that! 

 oh dude- I'm right with you- BP is exceptional & comprehensive!  For me it's not about recouping the 6 figures I pay to be part of the professional community I'm a part of, I came to the community to be part of it (not recoup my entrance $)- and the expansiveness and relationships it brought me has far exceeded in dollars the entrance $.  I was an active part of BP and local meetup for years, but (for me) joining a professional community has taken my life, marriage, daydreams, & bank account to a level I wasn't able to get to before.  These kind of groups are not for everyone, and not everyone needs these kind of groups.  But I'm grateful they are there (the good ones) for those of us who they benefit.  Just this morning, I was on our Thursday morning group call and we heard from an economist that really helped me sort out some things- next month I'm stoked to take my wife & son on one of our quarterly trips with this professional community.  Last September we went to Machu Picchu with them, and it was beautiful.  I really resonate with "Faster alone, further together", so that's why I love being a part of BP too :) 

 HELLS YEAH!!!!

 oh man what great groups!!!  my oldest niece (who is my favorite human) was going to be aborted, but then a pregnancy resources center helped my sister keep her, and wow we are so grateful!  My niece is about to turn 20, her parents got married, are super soul mates, and had 2 more natural children and 2 adopted.