My guest says this is the fastest and most impactful path to wealth in real estate, and he's

breaking down how it works, starting as a side hustle.

The path in question is called co-living.

This is getting a big house and renting out the rooms individually, so what started for him

as a simple house hack in 2011 has grown to a portfolio of over 200

rooms passively managed and addressing affordable housing from the ground up.

From Scale Your Whole Living Real Estate podcast and Scale Your Real Estate.com, Sam Weger,

welcome to The Side Hustle Show.

Nick, I'm so excited to be on the Side Hustle Show.

Thanks for having me, brother. Yeah, I'm looking forward to kind of learning right alongside

the listeners here because the traditional real estate investing advice that I've been given

is your single family home, you know, three bedroom, one or two bath, nice, you know,

working class neighborhood, in a long-term lease type of strategy

here, and aim for a cash flow of $250 a month. The co-living model aims to like four or five-x

that on a monthly basis. So you ultimately need fewer properties to meet your income goals.

So what's, I mean, what's realistic here in terms of income? Payness

the picture, either from your own example or from some of your community students.

When I grew up in real estate world, I remember Brandon Turner, some of these guys that were

part of this bigger pockets community, which is a really big community in real estate, would say,

hey, if you get $100 a month in cash flow per unit, that's good. That's what you're looking for. And I remember thinking like, holy cow, for me to do that, I have to get hundreds and hundreds and hundreds, if not thousands of units to actually create any income with co-living. It really is not. And then, I mean, just as a side note, I was listening to a podcast of Brandon Turner recently because he has a billion dollars in real estate.

I think it's over 10,000 units and he said my cash flow from a billion dollars in real estate is, and I quote, a couple thousand dollars a month. And I was like, that's too little, man. Like, that's too little. Because we are here, obviously, people listening to your show, we want to create some cash flow. So we won't even look at a co-living home unless it produces $1,000 a month in cash flow.

I would say the average is closer to $ show, we want to create some cash flow. So we won't even look at a co-living home unless it produces $1,000 a month in cash flow. I would say the average is closer to two grand, and you'll see spikes. You're managing yourself. This could be even more because you're taking out what you would normally pay to the manager and keeping that for yourself. Okay. I had a student come to me recently and said, Sam, I have a 14-bedroom house that I self-manage, that I put a large down payment. I think she put like 30 or 35% down, so her loan was less. And she said, after all my expenses, my net cash flow is $5,000 a month. And I was like, one house, she's like, it's 14, it's 14 people show this home was this huge house. And I was like, so that's a spike. that's like the craziest I've seen. It might as well be an apartment building at that point. Yeah. I'm thinking like fraternity house, sorority house. Like nothing is built anymore with 14 bedrooms. It's not even, you know, it'd be rare to find a six bedroom. Like where are you finding this stuff? Or how do I start the shopping process? Yeah, we give people a formula.

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