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!
David:
This is The BiggerPockets Podcast, show 560.
Sam:
I never thought I could put eight people in one house. I thought maybe five. Okay. I had pushed it at six. And then this house, and I was like, I’m just going to try eight. I’m going to try it. So I learned people will rent a room. You offer them a room with all utilities for 700 bucks a month when a one bedroom apartment’s going for 1300. That’s the play and people will do it.
David:
What’s going on everyone? It is David Greene, your host of The BiggerPockets Podcast, the starting point for your journey to financial freedom through real estate. So if you just read Rich Dad Poor Dad and you’re fired up, but you’re not sure what to do, this is the show for you. If you’re brand new here, check out our…