Ep #228: The Booming Business of Co-Living - with Ellen Parry

Real Estate Investing for Cash Flow with Kevin Bupp

Kevin Bupp

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4.9 • 675 Ratings

🗓️ 7 May 2019

⏱️ 38 minutes

🔗️ Recording | iTunes | RSS

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Summary

In this episode of the Real Estate Investing for Cashflow podcast, Kevin welcomes co-living expert Ellen Parry. Ellen is the director of real estate partnerships at Ollie, an all inclusive co-living setup that use small space design techniques to reduce entry level price points for class A apartments. Residents in Ollie-owned properties enjoy fully furnished units and complimentary hotel style conveniences.

Kevin and Ellen discuss the booming business of co-living, especially in urban America. Ellen talks about many different aspects of co-living real estate and the future of micro-living development in the residential sector.

QUOTES:

“Looking at the housing market, we realized that there’s this real mismatch between the multi family units that are available, and what people can afford primarily, and also what young professionals living and working in the city wanted to consume in terms of their lifestyle.”

“There’s this insight that a lot of multifamily that has been constructed over the last fifty years in the US is repeating the same model that may have worked in that era but isn’t evolving and reacting to what urban life in America actually looks like today and what people really need.”

“They don’t notice that their bedrooms are a little bit smaller than it might have been elsewhere because the functionality is what they’re getting.”

“It’s challenging to convert commercial spaces in to co-living but we’re now starting to test some prototypes that could evolve that model.”

“If the studios seem to be in higher demand than other unit types, that’s a really good indicator because that tells you that there’s people who need these more efficient lifestyle solutions.”

HIGHLIGHTS

5:29 Ellen explains co-living and Ollie
9:26 What is the price to privacy spectrum
10:57 Who is the typical demographic?
15:20 Ollie’s projects
28:00 Matching process in shared units

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Recommended Resources:

Check out our company and our partnership opportunities by visiting SunriseCapitalInvestors.com
Would you like to partner with us on future MHP deals, call 844-CASH-FLW to learn more or click here to schedule a time on our calendar.
Grab a free copy of our book “The 21 Biggest Mistakes Investors Make When Purchasing their First Mobile Home Park…and how to avoid them click here
Visit Ollie.co

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Transcript

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0:00.0	You've been searching for the best way to generate passive income in your life and heard that real estate is a great way to do it.
0:09.4	But you're tired of all the so-called gurus who are all talked in no substance.
0:15.2	Get ready to celebrate because Kevin Bup has spent 14 years successfully making it happen.
0:21.7	This is the Real Estate Investing for Cash Flow podcast.
0:25.2	Now, here's Kevin Bup.
0:31.8	Hey guys, Kevin Bup here, and I want to welcome you to another episode of the Real
0:35.3	Estate Investing for Cash Flow podcast.
0:37.4	We're mission is to help you build and episode of the Real Estate Investing for Cashflow podcast.
0:41.6	Our mission is to help you build and maintain massive amounts of cash flow through income producing real estate investments.
0:43.7	Now, our guest for this week's show is co-living expert, Ellen Perry.
0:47.3	Now, in today's show, guys, we're going to be discussing the booming business of co-living.
0:51.4	Founded by brothers and former bankers, Christopher and Andrew Bledsoe,
0:55.2	Ali uses small space design techniques to reduce entry-level price points for Class A
0:59.5	apartments. Currently, the company has locations in Manhattan, Brooklyn, Queens, Jersey City,
1:04.6	Boston, Pittsburgh, and Los Angeles. At Ali-owned properties, residents enjoy fully furnished
1:10.2	units and complementary hotel-style
1:12.1	conveniences like high-speed Wi-Fi, access to premium television programming, a weekly
1:17.1	basic tidy service, monthly housekeeping, and a dedicated social club membership.
1:22.0	On average, residents save more than $500 per month in added perks in complementary services.
1:29.3	Now, Ellen is the director of real estate partnerships at Ali and joined the team in 2016 to lead the expansion strategy for the co-living
1:34.7	platform on the West Coast. Ellen's experience in urban development, specifically on key projects
1:39.7	in the downtown Los Angeles area, confirmed her belief in the future for micro unit development
	...

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