560: Double Your Rental Income with Co-Living Cash Flow w/Sam Wegert

BiggerPockets Real Estate Podcast

BiggerPockets

Education, Investing, Business

4.8 • 16.6K Ratings

🗓️ 20 January 2022

⏱️ 62 minutes

🔗️ Recording | iTunes | RSS

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Summary

Co-living (coliving) may sound a bit scary at first to a landlord. You have a bunch of young professionals living under one roof. What if there is an argument over cleaning, what if there is a fight that breaks out, will my property be ripped to shreds? Let today’s guest, Sam Wegert, quell your fears—co-living and house hacking can rake in cash flow, with way less of a landlord headache. Sam is no stranger to entrepreneurship and real estate investing. He bought his own martial art studio at the age of fifteen and his first rental property at nineteen years old. Now he boasts a portfolio of over twenty-two long-term rentals, ten short-term rentals, seven martial arts studios, and one online program. Even more impressive, Sam is managing over 150 different tenants throughout his thirty-two properties. How does he do this without ripping his hair out? Well, aside from the relaxation that comes after an intense sparring match, Sam has systematized his real estate business into a cash-producing machine. He has had to build his own property management and his own policies that help keep him, and his tenants, happy. If you’re looking for your next cash cow rental investment, this could be it! In This Episode We Cover: Starting a business and buying property at an impressively young age House hacking and why every young investor should try it Keeping the peace in a co-living house and building a bullet-proof lease What to look for when buying co-living properties (size, bedrooms, bathrooms, etc.) The systems Sam uses to keep his rental property business running smoothly Developing discipline to take on bigger, scarier challenges (and crush them!) And So Much More! Links from the Show: BiggerPocket's The Ultimate Beginner's Guide to Real Estate Investing BiggerPockets Youtube Channel Craigslist Facebook BiggerPockets Youtube: BRRRR and Rent by the Room: Retire from Real Estate with few properties with Ron Gallagher GoBundance PadSplit Apartments.com Salesmate Zillow MLS (Multiple Listing Service) BiggerPockets Podcast 392: $12,500 per Month in ‘Pure Cash Flow’ With Todd Baldwin BiggerPockets Podcast 226: From “D-Student” to $400,000 in Annual Rental Property Cash Flow with David Osborn The Tony Robbins Podcast Craig Curelop's Instagram Craig Curelop's Tiktok David Greene's Instagram Connect with Sam: Life Door Rentals Website UpLevel Martial Arts Website Sam's Facebook Profile Sam's Instagram Sam's Coliving Course Sam's Facebook Page Check the full show notes here: https://www.biggerpockets.com/show560 Learn more about your ad choices. Visit megaphone.fm/adchoices

Transcript

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0:00.0	This is the bigger pocket's podcast show.
0:03.1	Five, 60.
0:04.4	I never thought I could put eight people in one house.
0:07.2	I thought maybe five, okay, like I'd push it at six.
0:11.4	And then this house and I was like, I'm just going to try eight.
0:14.8	I'm going to try it.
0:15.5	So I learned people will rent a room.
0:18.7	You offer them a room with all utilities for 700 bucks a month when a one bedroom
0:22.5	apartment's going for 1300.
0:24.0	That's the play and people will do it.
0:33.1	What's going on everyone?
0:33.9	It is David Green, your host of the bigger pockets podcast, the starting point for
0:37.8	your journey to financial freedom through real estate.
0:41.2	So if you just read Reset Port at and you're fired up, but you're not sure what to do.
0:44.3	This is the show for you.
0:45.7	If you're brand new here, check out our ultimate beginners guide, which is a very
0:49.7	easy read that has everything that a beginner needs to know to get started in
0:53.0	real estate investing.
0:54.0	It's a totally free resource to help you pick the right investing strategy for
0:57.3	your goals.
0:58.2	And you can find it at bigger pockets.com slash UBG for ultimate beginner sky.
1:04.1	This is one of the best shows that bigger pockets has ever put out.
	...

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