Episode 253 - Turning a Small Investment into High-Yield Real Estate Returns with David Edwards

How do you turn a seemingly bad investment into a profitable real estate venture? In this episode, Craig sits down with David Edwards, a Houston-based co-living operator, investor, and founder of CoLiving Operations. Dave shares how he left a shaky data analyst job to pursue real estate full time.  

From his first $65K house in January 2020 (turned pink inside by accident) to converting dining rooms into bedrooms, Dave walks through his path to an 8-bedroom pad splits yielding $2K+ in monthly cash flow. Learn what it takes to thrive in Houston’s unique rental market, how to mitigate co-living risks, and how his 300+ doors under management started with one “stripper house.” If you're eyeing cash flow, shared housing, or white-glove turnkey co-living investing, this episode delivers unmatched ground-zero detail. 

PODCAST HIGHLIGHTS:

[03:07] Dave shares why he left data analytics for real estate stability. 
[04:52] Describes moving from New York to Kingwood in 2019. 
[06:46] Purchases $65K rental property in January 2020, adds $20K rehab. 
[09:10] Discovers tenant abandoned the house after claiming COVID multiple times. 
[09:45] “First thing I see is a stripper pole”—Dave on entering home. 
[14:30] Rehabs trashed house and sells it, learning hard lessons. 
[16:45] Discusses April 2020 Kingwood flood-damaged flip yielding $40K profit. 
[20:45] Converts 5-bed home into 8-bed 3-bath co-living rental. 
[24:04] “I was cash flowing just shy of $2,000 a month.” 
[26:35] Sells property subject-to in order to fund duplex development. 
[33:23] Planning to build 10-bed 10-bath duplexes compliant with local laws. 
[35:29] Explains arbitrage model using 5-year leases with exit clauses. 
[39:00] Looks for properties with 60% parking and near public transit. 
[41:50] Reviews 12 deals weekly but only 3 usually make the cut. 
[43:45] “12–16% cash-on-cash is realistic—20% is rare in Houston.” 
[45:00] Uses Airbnb-style insurance in Texas due to co-living challenges. 
[46:20] “You don’t need to be perfect. Just start moving forward.” 
[48:30] “I don’t want to disappoint my wife—that’s my why 

HOST 

Craig Curelop    

📸 Instagram: https://www.instagram.com/thefiguy    

📘 Book: https://store.biggerpockets.com/products/the-house-hacking-strategy    

🏘️ Buy Real Estate: https://bit.ly/3V3QDze    

GUEST

David Edwards 

📱 Phone: (917) 482-5894 (text preferred) 

👤 Facebook: https://www.facebook.com/djedwards83/