It all begins with an idea. Maybe you want to launch a business. Maybe you want to turn a hobby into something more. Or maybe you have a creative project to share with the world. Whatever it is, the way you tell your story online can make all the difference.

If you’re reading this post, you’ve already started researching. The next step is to find an experienced Realtor to help you through the process of acquiring your co-living rental investment.

The decision to work with an agent should be based on their experience, competency, and understanding of the type of investment you are looking to make. An agent that primarily sells primary homes may not make the best agent to help you acquire an investment property. Don’t be afraid to ask an agent how many investment properties they sold last year to gauge their experience level. If they only sold a few properties, there is probably a reason. In addition, beware of Realtors who are also property managers, as this presents a significant conflict of interest to you as the buyer.

Buyer representation is 100% free to the buyer. Some brokerages charge a transaction fee from $250-$350, which covers the storage and processing of legal documents, but the agent commission is paid by the seller in a transaction.

Choose one agent that is the best fit for you. It is counter-productive to work with various agents. All Realtors have access to the same properties on the MLS and any agent can show you any listed property. Your agent choice should be based on experience, competency, and communication.

Should I do this? Good investment property markets can move very quickly, and properties can sometimes sell within hours of hitting the market. Other times, the property is not available for showings due to rental schedule, and is sold before any realtor can gain access to show it. This is where you will have to rely heavily on your Realtor’s expertise and knowledge of the market. The vast majority of our clients complete the entire investment property buying process remotely, from offer to close. We provide video walk-through if access is available, and are brutally honest with our clients on whether a property will provide adequate cash-flow to warrant a sight-unseen offer.

Co-living rental regulations vary by city, so you will need to do due diligence to understand the laws and how they will affect your investment.

Closing remotely is very common and is usually the most convenient way for buyers to close on their property.

Co-living rentals are a great investment because they allow investors to maximize income on a single family property. They can gross anywhere from 2 to 5 times as much as a comparable traditional long term rental and has the possibility of being almost completely hands-off.

Investing in a co-living rental is relatively simple, but there are some intricacies that you’ll need to learn along the way! Make sure that the local regulations are favorable for co-living rentals, check out what the average room rental rate is for properties in your price range, find an agent, and pull the trigger! Sometimes, it can be helpful to partner with an experience co-living investor on your first rental.

If you buy in the right market and manage the property correctly, co-living rentals are arguably one of the most profitable types of real estate investments.

Maximum occupancy will vary from city to city so do your homework and make sure you know what’s allowed!

The number of rooms in a co-living house can vary depending on your model, but a house with good returns typically falls between 6-8 rooms. There are many co-living homes that have more than that - even up to 14, but there are, of course, risks and rewards that come with higher occupancy homes.

There are many different models of co-living, but the most common are digital nomads (people who work from anywhere), business professionals (typically people in their 20s-30s looking to have a community or meet new people), college students, and one that is gaining a lot of need: affordable housing (lower income, typically shift-workers).

Co-living rentals can be a very lucrative addition to any real estate investment portfolio. They can act as cash flow turbochargers that allow you to scale your portfolio more quickly than if you invest solely in long term rental property.

Sleeping capacity is the greatest driver of income. However, there are ways to maximize returns per room such as adding amenities and furnishings or providing house-wide benefits like community events.