Friday Jan 24, 2025
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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