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
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