January 23, 2025 • 30 mins
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This episode reveals how Co-Living is transforming the housing landscape, providing financial benefits for investors while fostering community among residents. Grant Shipman, the founder of Livingsmith, shares insights on managing Co-Living spaces, addressing logistics, safety, and emotional support within these modern shared living arrangements.
• Exploring the real definition of Co-Living
• Discussing financial opportunities for investors
• Understanding the logistics and management of co-living households
• The role of community agreements and peer accountability
• Emotional benefits and personal connections in shared living spaces
• Addressing municipal regulations and co-living challenges
• Resources for getting started in co-living investments
"This is a whole new type of investing in real estate. If you're looking to create more cashflow than a standard residential rental property... this is it!!" Grant has the whole process down, don't go it on your own... get in touch with him! - Brad Weisman
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Welcome to The Brad Weisman Show, where we dive into the world of real estate, real life, and everything in between with your host, Brad Weisman! 🎙️ Join us for candid conversations, laughter, and a fresh take on the real world. Get ready to explore the ups and downs of life with a side of humor. From property to personality, we've got it all covered. Tune in, laugh along, and let's get real! 🏡🌟 #TheBradWeismanShow #RealEstateRealLife
Credits - The music for my podcast was written and performed by Jeff Miller.
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Transcript
Episode Transcript
Available transcripts are automatically generated. Complete accuracy is not guaranteed.
Speaker 1 (00:00):
All right, here we go From real estate to real life
and everything in between theBrad Wiseman Show and now your
host, Brad Wiseman.
Speaker 2 (00:12):
All right, oh man, I am super, super excited about
this episode because it issomething that I've never, ever,
really heard about until now.
Somebody had gotten in touchwith me and said there's this
guy doing this thing calledco-living and I know you're
probably sitting there going.
What the hell is co -living?
That's exactly what I thoughtwhen they got in touch with me,
(00:34):
and co-living is somethingthat's a little different.
And Grant Shipman, the guy thatwe're going to have on here in
just a second, is the guru atthis.
He has a company called LivingSmith and he just he's all.
He's all over the placeteaching how to do this as an
investment.
So we're going to dive rightinto this right now.
Grant, are you there?
Yeah, this is great, Awesome,and you're straight from
(00:58):
Colorado.
Speaker 1 (00:59):
It's.
We got a beautiful snowyesterday.
It's just like all the prettywithout the cold.
Speaker 2 (01:05):
Oh, that's cool, that's cool.
So have you gotten a lot ofsnow so far?
Speaker 1 (01:09):
No, no.
And that's also why we maintaina second home down in Texas,
because when it gets too snowywe leave.
Speaker 2 (01:17):
Oh, that's great man.
That's awesome.
Yeah, and are you a skier?
Speaker 1 (01:22):
I try to be my wife's awesome at it.
So I'm a faller, you're afaller.
Speaker 2 (01:27):
That's okay.
That's okay.
You just don't want to fall.
You don't want to hit trees.
They tend to win.
That's the only thing aboutskiing.
Yeah, trees are bad.
Speaker 1 (01:32):
That's why I maintain an exciting slow rate.
And do you, do you ski then?
Speaker 2 (01:38):
I used to ski.
I picked it up a couple ofyears ago with my kids and it's
amazing when you get older youforget that you don't have the
functionality that you had.
Speaker 1 (01:47):
Right.
Speaker 2 (01:48):
Yeah, it's, it's the next day.
I felt like a truck hit me.
I mean, it was unbelievable.
Yeah, so it's a great sport,though Great winter sport.
Speaker 1 (01:55):
My, my wife, I, I do like the, the real estate, the
systems, the co-living, all ofthat stuff and the systems, the
co-living, all of that stuff.
And I'm not, my naturallanguage is not fun, but my
wife's natural language is fun,so she does like the back
country, snowboarding andskydiving.
So so I just I just I have awhole bunch of fun in my life
(02:15):
because I rightly married her.
Speaker 2 (02:18):
That's great man.
I'll tell you the skydiving.
You don't run out.
There's no way I'm jumping outof a plane that's not going down
.
You know what I mean.
So if the plane's going down,I'll jump out, Otherwise I'm not
jumping out and obviously youjump out with a parachute, of
course, which nobody travelslike that.
But yeah, let's get into thisco-living thing.
I mean your, your podcast agentgot in touch with me and I'm
(02:40):
pretty picky now these days,just because we get a lot of
requests to be on the show.
And when I saw this co-livingthing it caught my eye and I'm
going to quick tell you whatWikipedia has as a definition,
and you can tell me, becausethey're not the most accurate.
It says co-living is aresidential community living
model that accommodates three ormore biologically unrelated
(03:03):
people living in the samedwelling unit.
Is that, does that soundaccurate?
Speaker 1 (03:07):
I I mean, that sounded pretty darn good yeah
for wikipedia.
It's pretty good right yeah, we, we are doing um.
I I recommend seven to elevenpeople um.
Speaker 2 (03:20):
But as far as what?
Speaker 1 (03:21):
what I do?
That's the households just runbetter.
It's a better renter experience, easier to manage, but yeah,
like three unrelated people,it's kind of like a little
non-traditional household.
Good job, wikipedia, yeah.
Speaker 2 (03:34):
So, okay, let's take that definition.
And now I have all kinds ofquestions.
Okay, so the big questions.
So we're talking you buy aproperty, you buy it.
You say, okay, I'm going torent this out to not just one
person, but I'm going to rent itout to five, seven, you said 11
, whatever it is.
(03:54):
Now, obviously it's got to be abig property and the people
that you're renting it to don'tare not related pretty much, you
know, and do?
They share the same fridge, thesame washer and dryer, so the
whole house is shared.
Speaker 1 (04:08):
Yes, yeah, and I mean really, you nailed it.
This is a normal house in anormal neighborhood, and this is
what's happened in the last somany years is in the last so
many years is people wouldrather live with others.
They would prefer to live withothers rather than alone, and
(04:34):
it's no longer driven by priceright, there's always been
rooming houses, boarding houses,but it's because of that right.
They don't if there's lots ofpeople, because of work, because
of whatever, they don't havefamily around to live with, they
don't want to sign a lease withother people, but they would
love to live with others.
So they get a beautiful housefor the price of a room and an
(04:55):
investor right gets.
So we're getting like two tothree times as much.
So we're selling pizza by theslice, so we're making a lot
more money.
So renters, investors.
Speaker 2 (05:04):
I like that analogy.
That's a great analogy.
That's good, the pizza by theslice.
So so, basically, what you'redoing is you're you're renting,
the person is the.
The owner is renting thebedrooms within the home.
Um, for, obviously, if you addthem all up, you're getting more
money than you would if you raninto the whole house.
Is what you're saying.
Speaker 1 (05:22):
If you add them all up, you're getting more money
than you would if you ran intothe whole house, is what you're
saying?
Yeah, like my, my first house.
It would have gone for 20,$2,400 for rent.
It was a normal house on acorner streets, there's plenty
of parking and um uh, but withseven bedrooms at $700, now it's
more.
Rent was more, but that was$4,900 a month.
I got Right.
(05:42):
So not.
I mean, not only does it thethe um you know, double in
income, but as far as like thecash on cash return, those kinds
of things.
But for me what it meant is Iwent from like like a real
estate no experience, right, Iwas driving a crappy Prius
delivering Domino's pizza.
Speaker 2 (06:01):
Don't worry, toyota does not sponsor the show.
Don't worry about that Priusdelivering Domino's pizza.
Speaker 1 (06:05):
Don't worry, toyota does not sponsor the show, don't
worry about that.
And my, this lender I got aholdof uh right, the lender just
laughed at me.
It was like you will neverqualify for a loan.
I had no, I was.
I was renting a room, I had noincome and I was.
I was lonely.
I wanted to, you know, getmarried, have the beautiful kids
that I have.
But I got into to to realestate and that that large
(06:30):
amount of income, that cash, notonly absorbed my learning curve
right, so I didn't suffer nearwhat others do.
But 15 months later I had awhat a financial freedom, a $2
million net worth.
I went on to.
I found my, my girl, that I, I,uh.
I met my girl about uh 19months after I started.
(06:51):
We got married and anyway, justto say like it's not only
amazing for society but itserves society like crazy, but
like financially, what it didfor me and how it changed my
life, like now I have my wifewas like I really want a house
in the Rocky mountains.
Speaker 2 (07:11):
So we got her one right, like I could have never
done that before.
Yeah, that's awesome, man, it'sawesome, and so it's obviously
it's very lucrative.
The thing that I that that forme, is the logistics behind it.
I've been in real estate for 32years, going on 33, and you
know and I've done.
I've been in real estate for 32years, going on 33 and you know
and I've done.
I've been a landlord many times.
I'm a landlord now and I'm justcurious, like, how do you bring
all those people together?
(07:31):
And there's a couple thingsthat come to mind with this, and
Hugo and I were talking aboutthis liability.
Like you're bringing peopletogether that don't know each
other.
Do you have to worry about,like if there's, you know
there's men and women that arecoming in together and you know
things happen when there's menand women in the same places
together that maybe they don'tknow each other or whatever.
So that that's the thing to me.
And and does everybody knowtheir space?
(07:53):
Like you know, there's onefamily room, what you know who
gets to sit in this chair?
You know what I mean.
Like I just wonder how it worksout, and do they all meet first
or do you rent it to threepeople and then rent it to the
other four?
You know, those are the thingsto me.
They're just very, very a lotof logistics involved there.
Speaker 1 (08:11):
Yeah, and it's the thing that basically there's
kind of two things, because whatyou brought up is so important,
we have investors that getstarry-eyed because of the
profit, the revenue, they getstarry-eyed, they're like whoo
and they jump into it.
(08:31):
They find a house and they havenot only such unsuccessful
experience in managing, like thereasons you brought up, but
additionally, additionally, ittakes so much of their time and
um, and and so we have uh, um,one of the big things that we do
is is teach on, um on how to doco-living property management.
(08:54):
It is just like short-termrental, airbnb management.
If you do that, like you dolong-term rental, you're going
to run into problems.
We do that and I know in theDenver area we're onboarding
another I think it's about 80houses just because of investors
get into it and they're likeooh, you know.
(09:14):
But the management side, really,what I did is I had this lucky
accident, so, because of anearly marriage that, uh, that
failed, I did an unexpectedthing, uh, unexpected for me.
I moved into a hippie co-op, um, and I can't imagine where this
is going to go.
Yeah, yeah, yeah they.
(09:35):
I moved into this, this hippieco-op.
Um, interesting enough it was,a house was started in 1976.
Um, and some of the memberswent on to start whole foods
just to say oh my gosh, you'rekidding me.
These people, um, these peopleintroduced me to the intentional
living community, um, and, andthey've always been, you know,
(09:57):
part of society, just at theedges, but there are people who
are, they're more, they'resharing equity.
You know, we would havemeetings and they were three
hours long because you had totalk about.
Everybody had an opinion on howthe bathroom should be
remodeled.
But what I discovered, likethese hidden gems from these
people who were the OGs ofstrangers sharing a house, not
(10:19):
because they have to right,because they want to, and
thriving, I just took all of thestuff they were mastering, not
because they have to right,Because they're, they want to
and thriving, I just took all ofthe stuff they've, they were
mastering, not just for decades,right, these people have been
around forever, this tradition,but, but they had mastered and I
just translated it into aproperty management scenario, a
paradigm, and so so just to saysome unexpected things happened
(10:43):
is one is the risk profile thatthat you know typical real
estate professional like you youbrought up would rightly say
doesn't your risk profileincrease?
And and actually, because, likemy houses, so I'll pick out a
house it's called gateway, sogateway house has eight
unrelated people living in it.
(11:03):
Now I have eight people, so ifone becomes a bad egg, right
I've got.
I've got seven otherresponsible adults.
Speaker 2 (11:13):
What do they do?
Kick them off the island, orwhat Do you have like a little
flame thing that you do for eachperson?
Speaker 1 (11:19):
We do have.
We do any.
Any healthy household is goingto have ways to like positive
peer pressure or to protect thehousehold and remove somebody.
So the household does have thatability and it runs itself
mostly.
You know, if people want tolive in a house and they want to
live there a long time, theydon't want it to be like a
(11:39):
Airbnb house where somebody'scooking and cleaning for them,
doing all this thing.
They want a household system.
We have a 40 point completehousehold system where they just
run it themselves and, um, andreally all, all blood related
households have a system,whether they talk about it or
not, you know, but we have asystem.
And what's kind of cool is thewomen living in the house feels
(12:02):
so safe because safe becauseusually women have to live with
women, because it's like two orthree people and that could be
that could be like risky withwith a stranger male, but when
you're talking seven, eight,nine, 10 people, you have, you
have a safety in numbers.
But additionally, the men bringa safetiness to women.
This is this is me passing ontheir words.
(12:23):
And then, of course, the menbring a safetiness to women.
This is this is me passing ontheir words and and then, of
course, the, the men, reallyappreciate that feminine energy
and they don't, you know, leavetrash around.
So, so to say, the riskexposure of mine.
I mean I have a.
So my property manager stoppedby and they do a 20 minute house
check each month.
They replace the toilet paper,they leave some candy on the
(12:44):
kitchen table and tell them hey,you know, the house is looking
good, but that means I have aproperty inspection every month,
right?
Speaker 2 (12:52):
So, right.
Speaker 1 (12:53):
So my risk exposure, all of this stuff, actually
drops way down, as long as themanagement is done correctly.
Speaker 2 (13:02):
So um so you're bringing up is exactly the case.
Is there somebody deemed in thehouse to be the leader or the
the main renter?
Speaker 1 (13:11):
Yeah, this is a good question.
Is um, so what they'll refer to?
This is called on on sitemanagement, right?
You?
You kind of give somebody afree room or or a discounted um,
something like this.
And and, frankly, um, and inone of the living Smith teachers
her name is Jackie, um, she was.
When she first startedinvesting with us doing this
(13:33):
kind of thing, she thought thiswas the way to do it.
She wanted to be like a housemom.
Well, she could manage onehouse of of of, uh, of eight
people.
She was one of the people shecould man, and it took her 20
hours.
Um, of of of eight people.
She was one of the people shecould and it took her 20 hours.
Because, because, in the wordsof, when I first moved into this
hippie co-op, my sponsor's namewas Bruce.
(13:53):
He was the guy who just kind oflooked out for me in the
beginning.
I go Bruce, bruce, who's incharge?
Who's in charge?
He goes Grant, he goes nobody'sin charge.
So that means we're all 100%responsible.
And so an important part ofco-living houses is we say
they're egalitarian houses, sothey're governed by a lease and
(14:16):
on a household covenant or likea roommate agreement some people
call it, but everybody is equal.
So if there's a problem goingon, everybody's responsible for
addressing that problem andbasically not only is that good
for the housemates like usuallyif there's an on site manager,
you don't want to live for longin that place right, you're like
(14:38):
sitting in the living room andthey feel like they're watching
you.
But when, when, in, when, you'resitting in the the living room
and you feel like, well, this isnot only my living room, but it
is my living room, um, it, just, it just goes a lot better.
It's a, you know, we have oneproperty manager, full-time
property manager, 40 hours aweek, that can manage 140 leases
, compared to, you know, the onegal I was mentioning who's
(14:59):
highly skilled, she could manageone, uh, seven seven.
Speaker 2 (15:06):
seven leases for 20 hours a week right, that's not
very scalable.
No, not so good.
Not so good, it's just.
That's incredible.
And so these houses aretypically obviously very large,
so it's not like you're steppingon each other.
I mean, when you say you havesix bedrooms, it's not like it's
a 2,200 square foot house withseven bedrooms.
I mean it's not like eachbedroom is like a bunk.
I mean, these are like halfdecent size homes.
Speaker 1 (15:28):
Yeah Well, and I like that you're getting to numbers
because it makes things a loteasier to say so what a really
good home setup.
If somebody is looking to getinto this is look for a house on
a corner lot 2,500 square footand it's a five, three, um.
Speaker 2 (15:47):
I'm sorry.
What was the square footageagain?
2,500 square foot and it's afive, three, five, three, four
bath.
Speaker 1 (15:54):
Yes, and one of those bathrooms is probably going to
be in suite, like a masterbedroom.
Yeah, Now, what we do then islike I'll give, this is actually
the first house that I got,I'll give it, and we actually
we're onboarding a housetomorrow.
That's exactly the same thing.
Normal houses, they havemultiple living rooms, right,
(16:17):
Like they might be called afireplace room, a rec room, a
playroom, but there's multipleliving rooms, and because normal
houses, when a house is built,it's built for a family.
So, for instance, I have twokids and we got one on the way
and we want a playroom wherethey can trash it, and that's
okay and that's okay.
But when you have multipleadults living together, they
(16:41):
want one nice living room.
So usually you walk in, right,there's a nice kind of sitting
(17:02):
area, all of that stuff.
But then you know the other two, like the fireplace room or the
playroom.
You add a door into that room,so it's closed by a door and
that becomes just a reallyfantastic bedroom People.
I mean it's like this onefireplace room.
I mean whenever somebody has afireplace in the room and then,
(17:24):
and then what happens is thatperson real quick.
Speaker 2 (17:27):
Now just thought of this.
Does that person think thatthey are the leader because they
have the biggest bedroom andthey paid the most money?
The person with the fireplacegets to run the show right, well
, no, so there's a.
Speaker 1 (17:39):
The house is really like people can can keep
themselves, keep each other incheck pretty well, and that
happens in a, you know, any kindof a house I could totally see.
Speaker 2 (17:49):
I could see myself in this Dude.
I pay this much a month, sotherefore I'm entitled to have
more refrigerator space orwhatever it would be, you know.
Speaker 1 (18:01):
Well, and that's where what we encourage people
this is one of the things that'smore of a preference, but all
of our rooms are the same price.
So what we do, we say everyone'sequal, all the rooms are the
same price, and it keeps thingssimple for our system Okay that
makes sense, yeah, butadditionally, somebody who you
know they might move into a roomand when another room, say the
(18:24):
fireplace room or say the masterbedroom, becomes available,
then they're like ooh, ooh me.
You know it kind of rewardsseniority without giving
authority, Gotcha.
But yeah, to say, these houses,though people move into them
and these homes become likethese cherished places to live.
They never want to leave, Likeour.
(18:44):
Our lifetime average rentertenancy is over two years.
Speaker 2 (18:49):
Yeah, I saw that.
I saw that in your your resumething your your sheet.
Twenty five point two monthaverage tenant stay.
That's incredible.
Speaker 1 (18:58):
Yeah, yeah, and that's, that's lifetime.
Right now, our average tendencyis for our current renters is
much higher.
Um, I just like to share alifetime because it's um, it's a
little bit more realistic whenpeople are starting yeah,
Incredible.
Speaker 2 (19:10):
Now question for you this is ever have any houses
where people got married afterthey were there together?
Speaker 1 (19:17):
Yes, oh, we see, this is juicy stuff right here, Hugo
you got to get into the juicystuff.
Well, and and um, and this iswhat's so, uh, so great.
And to say these households areso nice.
My wife and I we lived in them.
We were undercover, nobody knewwe owned it, we just, you know,
we just were.
We didn't want people coming tous with problems and stuff.
(19:38):
So we lived in them until wegot, until we got married and
pregnant, because I one, Iunderstand, you know, I learned
a whole lot from the intentionalliving community, but I don't
know how to do these houses withpeople who have children.
Speaker 2 (19:52):
So that's, that's, that would be, yeah so.
Speaker 1 (19:54):
so yeah, people get married, and then they, and then
they, um, or this one guy, he,he, um.
Oh, this is this.
Is you want to hear a greatmarriage?
Speaker 2 (20:02):
story.
Sure, I would love to hear agood juicy story.
Speaker 1 (20:06):
Okay, so this this is uh, this is one of my favorites
.
So, um, we'll call him Mark,right?
Speaker 2 (20:12):
Um, so uh cause his name was Mark.
No, just kidding, just kidding.
Speaker 1 (20:26):
The uh, uh, but, but Mark was, uh, he was, he would
always go and and, uh, there wasthis brewery about two blocks
away that the house had always,you know, a number of guys would
walk to and they would playlike different board games,
trivia night, whatever, and um,and anyway, this was a house
that I was living in, and um,and so we're out in this guy,
Mark, he's like guys, guys, he's, he's like I'm going to, I'm
going to propose to mygirlfriend and and we're like,
(20:47):
oh, that's really, reallyawesome.
So we congratulate him.
He goes, no, no, no, no, uh,guys, you don't get it.
He goes.
I've been dating this girl forlike eight years.
He goes.
Any girl in the past that, um,that I I was going to make this
move with, you know, I I movedin with and then we broke up
because I couldn't live withanybody that.
(21:10):
I was in relationship with hegoes.
But after a year of living hereand learning how to live with
others and you know we we havethis process.
He said the five on five system.
That's a conflict managementsystem.
Me and my wife still use itLike let's do a five on five, he
goes.
After that he goes.
I realized I could actuallymarry and move in with the woman
(21:32):
I loved.
I was just planning to juststay boyfriend and girlfriend
and live separately forever andwe're like Whoa.
And so we were hoping that hisfiance was going to move in and
they would just take the masterbedroom because it was coming
available.
But but for some reason shedidn't want to.
You know, share a house withsix other people.
Speaker 2 (21:52):
So that is funny.
No, that's cool, though that'sa positive story there,
absolutely.
I just wonder, because you know, I think that when you're
around people, you know whetheryou were attracted to them in
the beginning or not.
If you're around, you knowsomebody that you're attracted
to, it might, you know, end uphappening while you're just
living with somebody you know.
It's kind of interesting.
Speaker 1 (22:13):
Well, additionally, there's such a safety net in
household.
I think, if nothing else, welearned that during COVID, If
you live with other qualitypeople, you probably thrive.
During COVID, If you live byyourself, regardless of how much
financial wealth you had, youdidn't have that.
And so when I met my wife, hermeeting the other people in my
(22:38):
household, the other people inthe co-living house, Um, first
it told her that I'm I'm like,have some kind of emotional
intelligence Cause I'm livingwith these other quality people,
Right.
But but the thing that it toldme was you know, I I asked them
hey, you know you've met Sarah,like you, blah, blah, blah.
What do you think of her?
What do you think of ustogether?
(22:58):
And there's a real like, like,safety net, a real power there.
That's cool.
Speaker 2 (23:03):
So the next topic that I that I wanted to bring up
before we end here, becausewe're actually we've been
talking for a while, yeah.
So the next thing I want tobring municipalities, government
, small government.
I'm on the planning commissionfor our local township here and
obviously we, we we deal withthe Airbnb stuff.
There's, there's a lot ofregulations that are starting to
(23:24):
come out about that, becausethe neighbors sometimes don't
like it and there's, say,there's parties and things like
that.
What are you seeing pushback?
Because you know if a house isa single family, single family
house, you know now you'rebringing in five, six, seven
different not families, butthey're not blood related, so
they're not, they're justthey're considered six families.
What kind of pushback are yougetting on that?
Speaker 1 (23:46):
So actually, actually , the trend is really like the
trend that's kind of outlawingAirbnb, to say and my wife's a
Airbnb person, she loveshospitality, right, I just want
long-term renters that make mybank account grow.
She loves hospitality, right, Ijust want long-term renters
that make my bank account growwhile I sleep.
Right, she wants to make peoplehappy and decorate the place.
But what's this?
Was this?
(24:08):
So what's happening in Airbnbis kind of the opposite of
what's happening in co-living.
But to say is to bringspecificity to it, is there's to
bring specificity to it, isthere's usually there's a code
in the UDC of each city, eachcounty, whatever.
That says either you knoweither people related by blood
or law or no more than blanknumber of unrelated people.
(24:31):
So no more than three, no morethan four, no more than five.
The lowest I saw was two.
But there's this rule andthat's what was the biggest
limiting thing to co-living.
But what's happened because ofthe housing shortage and all of
this stuff, is now we're havingthis whole legislation trend
(24:51):
where, like say, in the state ofColorado, of Colorado,
effective July 1st 2020, for all, all restrictions um on
co-living are banned.
So it doesn't and that'shappening.
I mean, well, let's seeWashington, oregon, iowa,
(25:15):
california, new York, um.
It's happening in cities prettymuch everywhere.
Speaker 2 (25:16):
It is at least like being discussed, and I get it.
We have a problem withinventory.
We have, I mean, I'm a realtor.
I mean we've been uh, we'vebeen low on homes in the country
and locally here for probablythe past two, three years.
It's also the reason why pricesare so crazy.
But yeah, we have an issue.
So there's gotta be.
Uh, hugo and I, when I weretalking about this a little bit
before is that there's gotta besolutions.
We got to think outside the boxand I think the co-living thing
(25:38):
is definitely something thatthat is outside the box.
You know, I think it'ssomething that that is gonna
could really really start togrow, and I think it's great
that you're the one you actuallyhave a business of teaching
people how to do this Correct.
I mean, that's what you do,yeah.
Speaker 1 (25:54):
Yeah, it's, it's monthly.
We do trainings.
I've got a training tonight, atwo-hour training.
Sometimes we do five-daytrainings.
But specifically when somebodygets, when an investor starts in
this, not only are they goingto be making at least $1,000, if
not $2,000 or $3,000 cash floweach month, but immediately they
(26:15):
have just created more housingfrom current inventory.
But immediately they have justcreated more housing from
current inventory.
They've just done about thebiggest thing they can for the
environment, better than drivingan electric car or whatever
else, and and and it's really,it's just really rewarding,
right, we, we, we got, we gotpictures.
The property management wasgetting sent in pictures from
the Thanksgiving dinners thatwere being had.
(26:36):
Oh, that's interesting.
Oh, that's cool.
Speaker 2 (26:39):
Yeah, people don't have family or something.
That's a good place for them toactually create family and
start to have family.
It reminds me of a reality showor something.
When you talk about thesehouses.
The other thing I thought aboutis that, and we're going to
have to wrap this up actually,but the other thing I was
thinking of it's about a frathouse.
Speaker 1 (27:04):
But when you get to live, I mean I mean I, me and my
wife now we're the only twoadults in our house right,
Cleaning is a real deal.
But when I lived with sevenother people, I mean the house
was so clean all the time, causewe each clean 20 minutes a week
and holy moly, right, likeeverything.
I mean I only mow the lawn onceevery eight weeks.
(27:24):
Divide and conquer.
Speaker 2 (27:26):
Yeah, divide and conquer.
You just split up the chores.
That's awesome, man.
Is there anything else likereal quick that we can talk,
that you wanted to bring up,that we didn't touch, cause I
think we touched a and maybe wecan have you on again, because
probably a lot of the thingsthat we could cover.
So, in order to get in touchwith you to do the trainings and
stuff I think you had saidlivingsmithprocom, is that
(27:46):
correct?
Yes, yes.
And is there any other placethat you think is the best place
?
You were saying also Facebook,and that's also Living Smith Pro
right On Facebook.
Speaker 1 (27:55):
Yeah, Living living smith pro right on facebook
living smith pro, yeah, um also,though, for anybody, anybody
listening right now um, we, wemade a specific uh thing off our
website.
So living smith blah blah.
Living smith procom forwardslash brad weisman show if you
go here, there's some specialgoodies, awesome, um there.
Um.
As far as, like, how to getstarted, because, um, I mean,
(28:18):
this, it's, it's the, I think,the easiest, safest, fastest,
whatever way to financialfreedom people to get started,
people who have currentportfolios that you know they're
, they're having problemsknowing how to increase their
profits Cause they're not buyingas much like, um, you know, do
those houses convert toco-living?
But anything there?
Um, because, but anything there, because it's, I mean, five
(28:40):
years from now this will be likethe old thing, but right now
people are like what is that?
Speaker 2 (28:46):
Yeah, I love it.
You're pioneering it, man.
You're pioneering it.
This is great stuff.
I appreciate it so much.
We're going to say goodbye.
We'll have you back againsomeday too, just to go over
some more things, but I lovewhat you're doing.
I love the ideas and it's a wayto solve the inventory issue.
All right, man, thanks.
I really appreciate you havingme on this is so awesome, no
problem, all right, there youhave it.
(29:08):
Graham Shipman, founder ofLiving Smith.
It's livingsmithprocom.
You can go there.
He's got some goody stuff ifyou do the backsplash of the
Brad Wiseman show.
But yeah, what an amazing thing.
We have a problem withinventory in this country and
this is a way to solve it.
So check out our show everyThursday 7 pm.
All right, that's about it.
All right, here we go From real estate to real life
and everything in between theBrad Wiseman Show and now your
host, Brad Wiseman.
Speaker 2 (00:12):
All right, oh man, I am super, super excited about
this episode because it issomething that I've never, ever,
really heard about until now.
Somebody had gotten in touchwith me and said there's this
guy doing this thing calledco-living and I know you're
probably sitting there going.
What the hell is co -living?
That's exactly what I thoughtwhen they got in touch with me,
(00:34):
and co-living is somethingthat's a little different.
And Grant Shipman, the guy thatwe're going to have on here in
just a second, is the guru atthis.
He has a company called LivingSmith and he just he's all.
He's all over the placeteaching how to do this as an
investment.
So we're going to dive rightinto this right now.
Grant, are you there?
Yeah, this is great, Awesome,and you're straight from
(00:58):
Colorado.
Speaker 1 (00:59):
It's.
We got a beautiful snowyesterday.
It's just like all the prettywithout the cold.
Speaker 2 (01:05):
Oh, that's cool, that's cool.
So have you gotten a lot ofsnow so far?
Speaker 1 (01:09):
No, no.
And that's also why we maintaina second home down in Texas,
because when it gets too snowywe leave.
Speaker 2 (01:17):
Oh, that's great man.
That's awesome.
Yeah, and are you a skier?
Speaker 1 (01:22):
I try to be my wife's awesome at it.
So I'm a faller, you're afaller.
Speaker 2 (01:27):
That's okay.
That's okay.
You just don't want to fall.
You don't want to hit trees.
They tend to win.
That's the only thing aboutskiing.
Yeah, trees are bad.
Speaker 1 (01:32):
That's why I maintain an exciting slow rate.
And do you, do you ski then?
Speaker 2 (01:38):
I used to ski.
I picked it up a couple ofyears ago with my kids and it's
amazing when you get older youforget that you don't have the
functionality that you had.
Speaker 1 (01:47):
Right.
Speaker 2 (01:48):
Yeah, it's, it's the next day.
I felt like a truck hit me.
I mean, it was unbelievable.
Yeah, so it's a great sport,though Great winter sport.
Speaker 1 (01:55):
My, my wife, I, I do like the, the real estate, the
systems, the co-living, all ofthat stuff and the systems, the
co-living, all of that stuff.
And I'm not, my naturallanguage is not fun, but my
wife's natural language is fun,so she does like the back
country, snowboarding andskydiving.
So so I just I just I have awhole bunch of fun in my life
(02:15):
because I rightly married her.
Speaker 2 (02:18):
That's great man.
I'll tell you the skydiving.
You don't run out.
There's no way I'm jumping outof a plane that's not going down
.
You know what I mean.
So if the plane's going down,I'll jump out, Otherwise I'm not
jumping out and obviously youjump out with a parachute, of
course, which nobody travelslike that.
But yeah, let's get into thisco-living thing.
I mean your, your podcast agentgot in touch with me and I'm
(02:40):
pretty picky now these days,just because we get a lot of
requests to be on the show.
And when I saw this co-livingthing it caught my eye and I'm
going to quick tell you whatWikipedia has as a definition,
and you can tell me, becausethey're not the most accurate.
It says co-living is aresidential community living
model that accommodates three ormore biologically unrelated
(03:03):
people living in the samedwelling unit.
Is that, does that soundaccurate?
Speaker 1 (03:07):
I I mean, that sounded pretty darn good yeah
for wikipedia.
It's pretty good right yeah, we, we are doing um.
I I recommend seven to elevenpeople um.
Speaker 2 (03:20):
But as far as what?
Speaker 1 (03:21):
what I do?
That's the households just runbetter.
It's a better renter experience, easier to manage, but yeah,
like three unrelated people,it's kind of like a little
non-traditional household.
Good job, wikipedia, yeah.
Speaker 2 (03:34):
So, okay, let's take that definition.
And now I have all kinds ofquestions.
Okay, so the big questions.
So we're talking you buy aproperty, you buy it.
You say, okay, I'm going torent this out to not just one
person, but I'm going to rent itout to five, seven, you said 11
, whatever it is.
(03:54):
Now, obviously it's got to be abig property and the people
that you're renting it to don'tare not related pretty much, you
know, and do?
They share the same fridge, thesame washer and dryer, so the
whole house is shared.
Speaker 1 (04:08):
Yes, yeah, and I mean really, you nailed it.
This is a normal house in anormal neighborhood, and this is
what's happened in the last somany years is in the last so
many years is people wouldrather live with others.
They would prefer to live withothers rather than alone, and
(04:34):
it's no longer driven by priceright, there's always been
rooming houses, boarding houses,but it's because of that right.
They don't if there's lots ofpeople, because of work, because
of whatever, they don't havefamily around to live with, they
don't want to sign a lease withother people, but they would
love to live with others.
So they get a beautiful housefor the price of a room and an
(04:55):
investor right gets.
So we're getting like two tothree times as much.
So we're selling pizza by theslice, so we're making a lot
more money.
So renters, investors.
Speaker 2 (05:04):
I like that analogy.
That's a great analogy.
That's good, the pizza by theslice.
So so, basically, what you'redoing is you're you're renting,
the person is the.
The owner is renting thebedrooms within the home.
Um, for, obviously, if you addthem all up, you're getting more
money than you would if you raninto the whole house.
Is what you're saying.
Speaker 1 (05:22):
If you add them all up, you're getting more money
than you would if you ran intothe whole house, is what you're
saying?
Yeah, like my, my first house.
It would have gone for 20,$2,400 for rent.
It was a normal house on acorner streets, there's plenty
of parking and um uh, but withseven bedrooms at $700, now it's
more.
Rent was more, but that was$4,900 a month.
I got Right.
(05:42):
So not.
I mean, not only does it thethe um you know, double in
income, but as far as like thecash on cash return, those kinds
of things.
But for me what it meant is Iwent from like like a real
estate no experience, right, Iwas driving a crappy Prius
delivering Domino's pizza.
Speaker 2 (06:01):
Don't worry, toyota does not sponsor the show.
Don't worry about that Priusdelivering Domino's pizza.
Speaker 1 (06:05):
Don't worry, toyota does not sponsor the show, don't
worry about that.
And my, this lender I got aholdof uh right, the lender just
laughed at me.
It was like you will neverqualify for a loan.
I had no, I was.
I was renting a room, I had noincome and I was.
I was lonely.
I wanted to, you know, getmarried, have the beautiful kids
that I have.
But I got into to to realestate and that that large
(06:30):
amount of income, that cash, notonly absorbed my learning curve
right, so I didn't suffer nearwhat others do.
But 15 months later I had awhat a financial freedom, a $2
million net worth.
I went on to.
I found my, my girl, that I, I,uh.
I met my girl about uh 19months after I started.
(06:51):
We got married and anyway, justto say like it's not only
amazing for society but itserves society like crazy, but
like financially, what it didfor me and how it changed my
life, like now I have my wifewas like I really want a house
in the Rocky mountains.
Speaker 2 (07:11):
So we got her one right, like I could have never
done that before.
Yeah, that's awesome, man, it'sawesome, and so it's obviously
it's very lucrative.
The thing that I that that forme, is the logistics behind it.
I've been in real estate for 32years, going on 33, and you
know and I've done.
I've been in real estate for 32years, going on 33 and you know
and I've done.
I've been a landlord many times.
I'm a landlord now and I'm justcurious, like, how do you bring
all those people together?
(07:31):
And there's a couple thingsthat come to mind with this, and
Hugo and I were talking aboutthis liability.
Like you're bringing peopletogether that don't know each
other.
Do you have to worry about,like if there's, you know
there's men and women that arecoming in together and you know
things happen when there's menand women in the same places
together that maybe they don'tknow each other or whatever.
So that that's the thing to me.
And and does everybody knowtheir space?
(07:53):
Like you know, there's onefamily room, what you know who
gets to sit in this chair?
You know what I mean.
Like I just wonder how it worksout, and do they all meet first
or do you rent it to threepeople and then rent it to the
other four?
You know, those are the thingsto me.
They're just very, very a lotof logistics involved there.
Speaker 1 (08:11):
Yeah, and it's the thing that basically there's
kind of two things, because whatyou brought up is so important,
we have investors that getstarry-eyed because of the
profit, the revenue, they getstarry-eyed, they're like whoo
and they jump into it.
(08:31):
They find a house and they havenot only such unsuccessful
experience in managing, like thereasons you brought up, but
additionally, additionally, ittakes so much of their time and
um, and and so we have uh, um,one of the big things that we do
is is teach on, um on how to doco-living property management.
(08:54):
It is just like short-termrental, airbnb management.
If you do that, like you dolong-term rental, you're going
to run into problems.
We do that and I know in theDenver area we're onboarding
another I think it's about 80houses just because of investors
get into it and they're likeooh, you know.
(09:14):
But the management side, really,what I did is I had this lucky
accident, so, because of anearly marriage that, uh, that
failed, I did an unexpectedthing, uh, unexpected for me.
I moved into a hippie co-op, um, and I can't imagine where this
is going to go.
Yeah, yeah, yeah they.
(09:35):
I moved into this, this hippieco-op.
Um, interesting enough it was,a house was started in 1976.
Um, and some of the memberswent on to start whole foods
just to say oh my gosh, you'rekidding me.
These people, um, these peopleintroduced me to the intentional
living community, um, and, andthey've always been, you know,
(09:57):
part of society, just at theedges, but there are people who
are, they're more, they'resharing equity.
You know, we would havemeetings and they were three
hours long because you had totalk about.
Everybody had an opinion on howthe bathroom should be
remodeled.
But what I discovered, likethese hidden gems from these
people who were the OGs ofstrangers sharing a house, not
(10:19):
because they have to right,because they want to, and
thriving, I just took all of thestuff they were mastering, not
because they have to right,Because they're, they want to
and thriving, I just took all ofthe stuff they've, they were
mastering, not just for decades,right, these people have been
around forever, this tradition,but, but they had mastered and I
just translated it into aproperty management scenario, a
paradigm, and so so just to saysome unexpected things happened
(10:43):
is one is the risk profile thatthat you know typical real
estate professional like you youbrought up would rightly say
doesn't your risk profileincrease?
And and actually, because, likemy houses, so I'll pick out a
house it's called gateway, sogateway house has eight
unrelated people living in it.
(11:03):
Now I have eight people, so ifone becomes a bad egg, right
I've got.
I've got seven otherresponsible adults.
Speaker 2 (11:13):
What do they do?
Kick them off the island, orwhat Do you have like a little
flame thing that you do for eachperson?
Speaker 1 (11:19):
We do have.
We do any.
Any healthy household is goingto have ways to like positive
peer pressure or to protect thehousehold and remove somebody.
So the household does have thatability and it runs itself
mostly.
You know, if people want tolive in a house and they want to
live there a long time, theydon't want it to be like a
(11:39):
Airbnb house where somebody'scooking and cleaning for them,
doing all this thing.
They want a household system.
We have a 40 point completehousehold system where they just
run it themselves and, um, andreally all, all blood related
households have a system,whether they talk about it or
not, you know, but we have asystem.
And what's kind of cool is thewomen living in the house feels
(12:02):
so safe because safe becauseusually women have to live with
women, because it's like two orthree people and that could be
that could be like risky withwith a stranger male, but when
you're talking seven, eight,nine, 10 people, you have, you
have a safety in numbers.
But additionally, the men bringa safetiness to women.
This is this is me passing ontheir words.
(12:23):
And then, of course, the menbring a safetiness to women.
This is this is me passing ontheir words and and then, of
course, the, the men, reallyappreciate that feminine energy
and they don't, you know, leavetrash around.
So, so to say, the riskexposure of mine.
I mean I have a.
So my property manager stoppedby and they do a 20 minute house
check each month.
They replace the toilet paper,they leave some candy on the
(12:44):
kitchen table and tell them hey,you know, the house is looking
good, but that means I have aproperty inspection every month,
right?
Speaker 2 (12:52):
So, right.
Speaker 1 (12:53):
So my risk exposure, all of this stuff, actually
drops way down, as long as themanagement is done correctly.
Speaker 2 (13:02):
So um so you're bringing up is exactly the case.
Is there somebody deemed in thehouse to be the leader or the
the main renter?
Speaker 1 (13:11):
Yeah, this is a good question.
Is um, so what they'll refer to?
This is called on on sitemanagement, right?
You?
You kind of give somebody afree room or or a discounted um,
something like this.
And and, frankly, um, and inone of the living Smith teachers
her name is Jackie, um, she was.
When she first startedinvesting with us doing this
(13:33):
kind of thing, she thought thiswas the way to do it.
She wanted to be like a housemom.
Well, she could manage onehouse of of of, uh, of eight
people.
She was one of the people shecould man, and it took her 20
hours.
Um, of of of eight people.
She was one of the people shecould and it took her 20 hours.
Because, because, in the wordsof, when I first moved into this
hippie co-op, my sponsor's namewas Bruce.
(13:53):
He was the guy who just kind oflooked out for me in the
beginning.
I go Bruce, bruce, who's incharge?
Who's in charge?
He goes Grant, he goes nobody'sin charge.
So that means we're all 100%responsible.
And so an important part ofco-living houses is we say
they're egalitarian houses, sothey're governed by a lease and
(14:16):
on a household covenant or likea roommate agreement some people
call it, but everybody is equal.
So if there's a problem goingon, everybody's responsible for
addressing that problem andbasically not only is that good
for the housemates like usuallyif there's an on site manager,
you don't want to live for longin that place right, you're like
(14:38):
sitting in the living room andthey feel like they're watching
you.
But when, when, in, when, you'resitting in the the living room
and you feel like, well, this isnot only my living room, but it
is my living room, um, it, just, it just goes a lot better.
It's a, you know, we have oneproperty manager, full-time
property manager, 40 hours aweek, that can manage 140 leases
, compared to, you know, the onegal I was mentioning who's
(14:59):
highly skilled, she could manageone, uh, seven seven.
Speaker 2 (15:06):
seven leases for 20 hours a week right, that's not
very scalable.
No, not so good.
Not so good, it's just.
That's incredible.
And so these houses aretypically obviously very large,
so it's not like you're steppingon each other.
I mean, when you say you havesix bedrooms, it's not like it's
a 2,200 square foot house withseven bedrooms.
I mean it's not like eachbedroom is like a bunk.
I mean, these are like halfdecent size homes.
Speaker 1 (15:28):
Yeah Well, and I like that you're getting to numbers
because it makes things a loteasier to say so what a really
good home setup.
If somebody is looking to getinto this is look for a house on
a corner lot 2,500 square footand it's a five, three, um.
Speaker 2 (15:47):
I'm sorry.
What was the square footageagain?
2,500 square foot and it's afive, three, five, three, four
bath.
Speaker 1 (15:54):
Yes, and one of those bathrooms is probably going to
be in suite, like a masterbedroom.
Yeah, Now, what we do then islike I'll give, this is actually
the first house that I got,I'll give it, and we actually
we're onboarding a housetomorrow.
That's exactly the same thing.
Normal houses, they havemultiple living rooms, right,
(16:17):
Like they might be called afireplace room, a rec room, a
playroom, but there's multipleliving rooms, and because normal
houses, when a house is built,it's built for a family.
So, for instance, I have twokids and we got one on the way
and we want a playroom wherethey can trash it, and that's
okay and that's okay.
But when you have multipleadults living together, they
(16:41):
want one nice living room.
So usually you walk in, right,there's a nice kind of sitting
(17:02):
area, all of that stuff.
But then you know the other two, like the fireplace room or the
playroom.
You add a door into that room,so it's closed by a door and
that becomes just a reallyfantastic bedroom People.
I mean it's like this onefireplace room.
I mean whenever somebody has afireplace in the room and then,
(17:24):
and then what happens is thatperson real quick.
Speaker 2 (17:27):
Now just thought of this.
Does that person think thatthey are the leader because they
have the biggest bedroom andthey paid the most money?
The person with the fireplacegets to run the show right, well
, no, so there's a.
Speaker 1 (17:39):
The house is really like people can can keep
themselves, keep each other incheck pretty well, and that
happens in a, you know, any kindof a house I could totally see.
Speaker 2 (17:49):
I could see myself in this Dude.
I pay this much a month, sotherefore I'm entitled to have
more refrigerator space orwhatever it would be, you know.
Speaker 1 (18:01):
Well, and that's where what we encourage people
this is one of the things that'smore of a preference, but all
of our rooms are the same price.
So what we do, we say everyone'sequal, all the rooms are the
same price, and it keeps thingssimple for our system Okay that
makes sense, yeah, butadditionally, somebody who you
know they might move into a roomand when another room, say the
(18:24):
fireplace room or say the masterbedroom, becomes available,
then they're like ooh, ooh me.
You know it kind of rewardsseniority without giving
authority, Gotcha.
But yeah, to say, these houses,though people move into them
and these homes become likethese cherished places to live.
They never want to leave, Likeour.
(18:44):
Our lifetime average rentertenancy is over two years.
Speaker 2 (18:49):
Yeah, I saw that.
I saw that in your your resumething your your sheet.
Twenty five point two monthaverage tenant stay.
That's incredible.
Speaker 1 (18:58):
Yeah, yeah, and that's, that's lifetime.
Right now, our average tendencyis for our current renters is
much higher.
Um, I just like to share alifetime because it's um, it's a
little bit more realistic whenpeople are starting yeah,
Incredible.
Speaker 2 (19:10):
Now question for you this is ever have any houses
where people got married afterthey were there together?
Speaker 1 (19:17):
Yes, oh, we see, this is juicy stuff right here, Hugo
you got to get into the juicystuff.
Well, and and um, and this iswhat's so, uh, so great.
And to say these households areso nice.
My wife and I we lived in them.
We were undercover, nobody knewwe owned it, we just, you know,
we just were.
We didn't want people coming tous with problems and stuff.
(19:38):
So we lived in them until wegot, until we got married and
pregnant, because I one, Iunderstand, you know, I learned
a whole lot from the intentionalliving community, but I don't
know how to do these houses withpeople who have children.
Speaker 2 (19:52):
So that's, that's, that would be, yeah so.
Speaker 1 (19:54):
so yeah, people get married, and then they, and then
they, um, or this one guy, he,he, um.
Oh, this is this.
Is you want to hear a greatmarriage?
Speaker 2 (20:02):
story.
Sure, I would love to hear agood juicy story.
Speaker 1 (20:06):
Okay, so this this is uh, this is one of my favorites
.
So, um, we'll call him Mark,right?
Speaker 2 (20:12):
Um, so uh cause his name was Mark.
No, just kidding, just kidding.
Speaker 1 (20:26):
The uh, uh, but, but Mark was, uh, he was, he would
always go and and, uh, there wasthis brewery about two blocks
away that the house had always,you know, a number of guys would
walk to and they would playlike different board games,
trivia night, whatever, and um,and anyway, this was a house
that I was living in, and um,and so we're out in this guy,
Mark, he's like guys, guys, he's, he's like I'm going to, I'm
going to propose to mygirlfriend and and we're like,
(20:47):
oh, that's really, reallyawesome.
So we congratulate him.
He goes, no, no, no, no, uh,guys, you don't get it.
He goes.
I've been dating this girl forlike eight years.
He goes.
Any girl in the past that, um,that I I was going to make this
move with, you know, I I movedin with and then we broke up
because I couldn't live withanybody that.
(21:10):
I was in relationship with hegoes.
But after a year of living hereand learning how to live with
others and you know we we havethis process.
He said the five on five system.
That's a conflict managementsystem.
Me and my wife still use itLike let's do a five on five, he
goes.
After that he goes.
I realized I could actuallymarry and move in with the woman
(21:32):
I loved.
I was just planning to juststay boyfriend and girlfriend
and live separately forever andwe're like Whoa.
And so we were hoping that hisfiance was going to move in and
they would just take the masterbedroom because it was coming
available.
But but for some reason shedidn't want to.
You know, share a house withsix other people.
Speaker 2 (21:52):
So that is funny.
No, that's cool, though that'sa positive story there,
absolutely.
I just wonder, because you know, I think that when you're
around people, you know whetheryou were attracted to them in
the beginning or not.
If you're around, you knowsomebody that you're attracted
to, it might, you know, end uphappening while you're just
living with somebody you know.
It's kind of interesting.
Speaker 1 (22:13):
Well, additionally, there's such a safety net in
household.
I think, if nothing else, welearned that during COVID, If
you live with other qualitypeople, you probably thrive.
During COVID, If you live byyourself, regardless of how much
financial wealth you had, youdidn't have that.
And so when I met my wife, hermeeting the other people in my
(22:38):
household, the other people inthe co-living house, Um, first
it told her that I'm I'm like,have some kind of emotional
intelligence Cause I'm livingwith these other quality people,
Right.
But but the thing that it toldme was you know, I I asked them
hey, you know you've met Sarah,like you, blah, blah, blah.
What do you think of her?
What do you think of ustogether?
(22:58):
And there's a real like, like,safety net, a real power there.
That's cool.
Speaker 2 (23:03):
So the next topic that I that I wanted to bring up
before we end here, becausewe're actually we've been
talking for a while, yeah.
So the next thing I want tobring municipalities, government
, small government.
I'm on the planning commissionfor our local township here and
obviously we, we we deal withthe Airbnb stuff.
There's, there's a lot ofregulations that are starting to
(23:24):
come out about that, becausethe neighbors sometimes don't
like it and there's, say,there's parties and things like
that.
What are you seeing pushback?
Because you know if a house isa single family, single family
house, you know now you'rebringing in five, six, seven
different not families, butthey're not blood related, so
they're not, they're justthey're considered six families.
What kind of pushback are yougetting on that?
Speaker 1 (23:46):
So actually, actually , the trend is really like the
trend that's kind of outlawingAirbnb, to say and my wife's a
Airbnb person, she loveshospitality, right, I just want
long-term renters that make mybank account grow.
She loves hospitality, right, Ijust want long-term renters
that make my bank account growwhile I sleep.
Right, she wants to make peoplehappy and decorate the place.
But what's this?
Was this?
(24:08):
So what's happening in Airbnbis kind of the opposite of
what's happening in co-living.
But to say is to bringspecificity to it, is there's to
bring specificity to it, isthere's usually there's a code
in the UDC of each city, eachcounty, whatever.
That says either you knoweither people related by blood
or law or no more than blanknumber of unrelated people.
(24:31):
So no more than three, no morethan four, no more than five.
The lowest I saw was two.
But there's this rule andthat's what was the biggest
limiting thing to co-living.
But what's happened because ofthe housing shortage and all of
this stuff, is now we're havingthis whole legislation trend
(24:51):
where, like say, in the state ofColorado, of Colorado,
effective July 1st 2020, for all, all restrictions um on
co-living are banned.
So it doesn't and that'shappening.
I mean, well, let's seeWashington, oregon, iowa,
(25:15):
california, new York, um.
It's happening in cities prettymuch everywhere.
Speaker 2 (25:16):
It is at least like being discussed, and I get it.
We have a problem withinventory.
We have, I mean, I'm a realtor.
I mean we've been uh, we'vebeen low on homes in the country
and locally here for probablythe past two, three years.
It's also the reason why pricesare so crazy.
But yeah, we have an issue.
So there's gotta be.
Uh, hugo and I, when I weretalking about this a little bit
before is that there's gotta besolutions.
We got to think outside the boxand I think the co-living thing
(25:38):
is definitely something thatthat is outside the box.
You know, I think it'ssomething that that is gonna
could really really start togrow, and I think it's great
that you're the one you actuallyhave a business of teaching
people how to do this Correct.
I mean, that's what you do,yeah.
Speaker 1 (25:54):
Yeah, it's, it's monthly.
We do trainings.
I've got a training tonight, atwo-hour training.
Sometimes we do five-daytrainings.
But specifically when somebodygets, when an investor starts in
this, not only are they goingto be making at least $1,000, if
not $2,000 or $3,000 cash floweach month, but immediately they
(26:15):
have just created more housingfrom current inventory.
But immediately they have justcreated more housing from
current inventory.
They've just done about thebiggest thing they can for the
environment, better than drivingan electric car or whatever
else, and and and it's really,it's just really rewarding,
right, we, we, we got, we gotpictures.
The property management wasgetting sent in pictures from
the Thanksgiving dinners thatwere being had.
(26:36):
Oh, that's interesting.
Oh, that's cool.
Speaker 2 (26:39):
Yeah, people don't have family or something.
That's a good place for them toactually create family and
start to have family.
It reminds me of a reality showor something.
When you talk about thesehouses.
The other thing I thought aboutis that, and we're going to
have to wrap this up actually,but the other thing I was
thinking of it's about a frathouse.
Speaker 1 (27:04):
But when you get to live, I mean I mean I, me and my
wife now we're the only twoadults in our house right,
Cleaning is a real deal.
But when I lived with sevenother people, I mean the house
was so clean all the time, causewe each clean 20 minutes a week
and holy moly, right, likeeverything.
I mean I only mow the lawn onceevery eight weeks.
(27:24):
Divide and conquer.
Speaker 2 (27:26):
Yeah, divide and conquer.
You just split up the chores.
That's awesome, man.
Is there anything else likereal quick that we can talk,
that you wanted to bring up,that we didn't touch, cause I
think we touched a and maybe wecan have you on again, because
probably a lot of the thingsthat we could cover.
So, in order to get in touchwith you to do the trainings and
stuff I think you had saidlivingsmithprocom, is that
(27:46):
correct?
Yes, yes.
And is there any other placethat you think is the best place
?
You were saying also Facebook,and that's also Living Smith Pro
right On Facebook.
Speaker 1 (27:55):
Yeah, Living living smith pro right on facebook
living smith pro, yeah, um also,though, for anybody, anybody
listening right now um, we, wemade a specific uh thing off our
website.
So living smith blah blah.
Living smith procom forwardslash brad weisman show if you
go here, there's some specialgoodies, awesome, um there.
Um.
As far as, like, how to getstarted, because, um, I mean,
(28:18):
this, it's, it's the, I think,the easiest, safest, fastest,
whatever way to financialfreedom people to get started,
people who have currentportfolios that you know they're
, they're having problemsknowing how to increase their
profits Cause they're not buyingas much like, um, you know, do
those houses convert toco-living?
But anything there?
Um, because, but anything there, because it's, I mean, five
(28:40):
years from now this will be likethe old thing, but right now
people are like what is that?
Speaker 2 (28:46):
Yeah, I love it.
You're pioneering it, man.
You're pioneering it.
This is great stuff.
I appreciate it so much.
We're going to say goodbye.
We'll have you back againsomeday too, just to go over
some more things, but I lovewhat you're doing.
I love the ideas and it's a wayto solve the inventory issue.
All right, man, thanks.
I really appreciate you havingme on this is so awesome, no
problem, all right, there youhave it.
(29:08):
Graham Shipman, founder ofLiving Smith.
It's livingsmithprocom.
You can go there.
He's got some goody stuff ifyou do the backsplash of the
Brad Wiseman show.
But yeah, what an amazing thing.
We have a problem withinventory in this country and
this is a way to solve it.
So check out our show everyThursday 7 pm.
All right, that's about it.
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