Transforming a 4-Bed into a 7-Bed Co-Living Powerhouse

Welcome to a new episode of Get Creative! In this episode, host Justin Tuminowski sits down with Heather Irving and Jose Sanguino, two industry leaders in the world of creative finance and co-living. They dive deep into their partnership, sharing insights on how they found and transformed a property into a thriving co-living space, overcoming obstacles, and leveraging their community connections to achieve success.

 

Highlights:

"I'm what you call a co-living operator, and I absolutely love it."

 

"The cash flow that you can experience from co-living, it's unbelievable, compared to long-term rent."

 

"We reached our break-even point, and with these two people moving in now, we start bringing in property."

 

"Start dating business-wise with people inside the community. Try a few JV deals, and I promise you, you'll find your match."

 

Timestamps:

00:00 - Introduction to the Get Creative Podcast

02:48 - Heather Irving's Background and Introduction

03:45 - Jose Sanguino's Background and Introduction

04:32 - Formation of the Partnership

09:22 - Heather and Jose's First Deal Together

12:06 - Construction and Renovation of the Property

15:34 - Marketing and Management of the Co-Living Space

19:49 - Current Status and Future Plans

23:53 - Reaching Break-Even and Cash Flow Potential

31:50 - Conclusion

 

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