Podcast
The Co-Living Show
Hosted by Craig Curelop and Miller McSwain · EN
Co-living is one of the most misunderstood, and highest-potential, strategies in residential real estate investing. Most investors hear the buzzwords, see the cash-flow claims, and immediately assume it’s either too risky, too operationally intense, or too complicated to scale. The truth is simpler: coliving work exceptionally well when built on systems, governed by operational clarity, and executed like a real business, not a side hustle. The Co-Living Show exists to make that clarity accessible for serious professionals who want smarter returns without gambling on guesswork.
Hosted by BiggerPockets authors Craig Curelop and Miller McSwain, The Co-Living Show goes far beyond surface-level real estate content. This is the only real estate investing podcast dedicated exclusively to the economics, operations, regulations, and strategic frameworks that drive high-density co-living and shared housing at scale. Whether you’re new to the model or a high-earning, time-poor professional seeking exposure to a sophisticated cash-flow real estate strategy without becoming an operator, this show delivers the confidence, understanding, and insight needed to invest intelligently.
Each episode takes you inside the real-world systems behind co-living performance. You’ll hear from operators running multi-market portfolios, attorneys specializing in zoning and compliance, designers who understand space optimization and profitability, lenders financing room-by-room rental strategies, and property managers and city officials shaping the future of affordable housing innovation. You’ll also hear from the Co-Living Cash Flow Community, everyday investors solving operational challenges and executing the exact frameworks discussed on the show.
👉 Join the community: www.millermcswain.com/community
There is no fluff here. No hype. No motivational noise. Every conversation is grounded in data, regulatory insight, operational logic, and investor-level clarity. Co-living is not “passive income.” It’s not a shortcut. It’s a system. And systems — when executed correctly — produce scalable, predictable returns that outperform traditional rental models. This is not speculative theory. It’s cash-flow real estate strategy in action.
Craig brings acquisitions, underwriting, and market strategy. Miller brings operations, pricing systems, and standardization frameworks that make coliving scalable. Together, they deliver an operator’s perspective of an asset class most investors only see from the outside. As BiggerPockets authors, educators, and practitioners, they simplify complexity without diluting truth: coliving works, but only when done correctly.
You’ll hear underwriting breakdowns, operator case studies, deal teardowns, regulatory realities, tenant strategy, market analysis, and the economic logic behind high-density residential investing. You’ll learn how to invest passively, partner with ...
38episodes
Episodes
Newest firstAll episodes
EP 27 - The AI-Powered Co-Living Owner: Investing From 800 Miles Away
Yesterday00:53:10Tap to summarizeCan AI help you become a more informed co-living owner without taking over your property manager’s job?In this episode of The Co-Living Show, Miller McSwain and Craig Curelop sit down with Tanya Zorov, a co-living investor who lives in New Jersey and owns two properties in Jacksonville, Florida.Tanya explains how she purchased two already-operating co-living homes, kept the existing property manager in place, and began using AI to improve her oversight of the portfolio. She shares how she combines income and expense data, monitors cash flow, tracks repairs, studies room performance, and evaluates potential acquisitions through her own AI-powered operating system.In this episode, you’ll learn:Why Tanya chose Jacksonville for her out-of-state investmentsThe advantages of purchasing an operating co-living propertyHow a local property manager supports remote ownershipThe true cost of combining PadSplit with property managementHow Tanya uses AI to review income, expenses, and net cash flowA simple way beginners can start analyzing portfolio data with AIWhy occupancy can significantly affect smaller co-living propertiesWhat Tanya will look for in her next co-living acquisitionWhy strong local relationships still matter in an AI-powered businessTanya’s advice for beginners is simple: start small. Export the data from your income and bookkeeping platforms, add it to an AI project, and begin asking questions about the performance of your portfolio.Connect with the hosts:Miller McSwainInstagram: https://www.instagram.com/millermcswainCraig CurelopInstagram: https://www.instagram.com/craigcurelopConnect with Tanya: https://www.facebook.com/tanya.larina.9066
Transcribe →Ep 26 - Co-Living Arbitrage: The Low-Capital Way to Scale
1w ago00:54:17Tap to summarizeCan you scale a co-living business without buying every property?In this episode, Miller and Craig are joined by Dave Edwards, founder of CoLiving Operations, for a detailed breakdown of co-living arbitrage.Instead of purchasing a property and taking on a mortgage, an arbitrage operator leases the home from its owner, receives permission to operate it as a co-living property, and rents the individual rooms. This can reduce the capital needed to get started while potentially producing stronger monthly cash flow.Dave walks through his first co-living arbitrage deal: a six-bedroom property leased for $1,450 per month. He explains how he negotiated the agreement, paid for the setup and improvements, recovered his investment during the first year, and eventually sold his position in the lease.The conversation also covers the realities and risks of this strategy, including vacancies, local regulations, renovation expenses, landlord communication, lease obligations, and the importance of having a clear exit clause.In this episode:• How co-living arbitrage works• How to find motivated property owners• The pitch that can make arbitrage attractive to landlords• Residential versus commercial lease structures• Why longer lease terms protect your investment• Security deposits, furnishings, walls, and startup expenses• Negotiating free rent during renovations• Comparing arbitrage cash flow with ownership• Protecting yourself with an exit clause• Using arbitrage to test a new market• Building trust that could lead to seller financing or ownership• Deciding whether arbitrage or purchasing is right for youArbitrage may not provide appreciation, mortgage paydown, or the same tax advantages as ownership, but it can offer a faster and less capital-intensive way to build cash flow and operating experience.Connect with Miller McSwain:https://www.instagram.com/millermcswainConnect with Craig Curelop:https://www.instagram.com/craigcurelopConnect with Dave Edwards:https://www.instagram.com/djedwards83Follow The Co-Living Show for more practical conversations about acquiring, operating, managing, and scaling co-living properties.Enjoyed the episode? Follow the show and leave a rating or review to help more co-living investors and operators discover it.
Transcribe →EP 25 - 8 Things We Look for Before Buying a Co-Living Property
2w ago00:47:11Tap to summarizeNot every large house is a good co-living investment.In this solo episode, Miller McSwain and Craig Curelop break down the eight factors they evaluate before buying a property for co-living. Drawing from their experience acquiring and operating dozens of homes, they explain how neighborhood demand, property layout, parking, bathroom ratios, and other details can determine whether a deal succeeds or becomes an operational headache.In this episode, you’ll learn:Why Class B and C neighborhoods often work best for co-livingThe property size and bedroom count Craig and Miller targetHow they turn a six-bedroom house into a 10-bedroom co-living propertyWhy parking can become a major deal breakerTheir preferred bedroom-to-bathroom ratioHow floor plans affect revenue and renovation costsWhy they avoid HOAs—even when the monthly fee is lowThe red flags they look for before making an offerWhy attractive listing photos can directly affect occupancyHow common areas and private suites can improve the resident experienceWhether you’re analyzing your first co-living property or refining your acquisition criteria, this episode gives you a practical checklist to use before making an offer.Follow Miller McSwain on Instagram:https://www.instagram.com/millermcswain/Follow Craig Curelop on Instagram:https://www.instagram.com/craigcurelop/Follow The Co-Living Show for more conversations about acquiring, designing, operating, and scaling profitable co-living properties.
Transcribe →EP 24 - Building a Co-Living Portfolio While Traveling the World
3w ago01:05:09Tap to summarizeWhat if your real estate portfolio could support your lifestyle instead of controlling it?In this episode of The Co-Living Show, Craig Curelop and Miller McSwain sit down with Eric Lafon to break down how he is using house hacking and co-living to build financial and geographic freedom.After being laid off from his software job just before Christmas, Eric moved to Denver and took action on a goal he had been considering for years. He purchased a four-bedroom property, converted it into seven rentable bedrooms, and now generates approximately $7,000 per month in rental income.Eric shares how he purchased the property with only 5% down, invested roughly $57,000 between the down payment and renovations, and now earns approximately $1,700 per month in cash flow after expenses and reserves.They also discuss:• How to identify properties with co-living potential• Why large homes with fewer bedrooms can be hidden opportunities• The challenges of living with your residents• Creating house rules without making the home feel overly restrictive• Screening residents and setting expectations from the beginning• Building community without forcing it• Managing maintenance, turnovers, and communication remotely• Buying his second house hack while traveling in Pakistan• Adjusting room pricing and marketing during slower rental seasons• Using systems and local vendors to operate properties from anywhere• Eric’s plan to scale through partnerships and additional house hacksEric’s story offers a practical path for anyone who wants to enter co-living without immediately purchasing a large portfolio. He proves that you can start with one house hack, learn the operational side firsthand, and gradually build systems that give you more freedom.Follow Eric on Instagram:www.instagram.com/soylafonFollow the hosts:Craig Curelop: www.instagram.com/craigcurelopMiller McSwain: www.instagram.com/millermcswainJoin The Co-Living Community:www.millermcswain.com/community
Transcribe →EP 23 - The Truth About Co-Living Laws Every Investor Needs to Know
4w ago01:06:17Tap to summarizeMost investors focus on finding deals.Very few think about changing the laws that determine whether those deals are even possible.In this episode, Craig Curelop and Miller McSwain are joined by legislative attorney Sam Hooper to unpack the legal side of co-living. They discuss zoning, occupancy limits, housing policy, and why creating better legislation is ultimately more powerful than relying on loopholes or gray areas.You'll hear about:The biggest legal obstacles facing co-living operatorsThe difference between occupancy limits and zoning restrictionsStates leading the way in co-living legislationHow investors can work with lawmakers to improve housing policyWhy long-term success depends on changing the rules—not just working around themIf you want to build a scalable co-living business that can stand the test of time, this is an episode you won't want to miss.Follow us on Instagram:Craig: https://www.instagram.com/craigcurelopMiller: https://www.instagram.com/millermcswainSam: https://www.instagram.com/legelawyer
Transcribe →EP 22 - How We Took a Co-Living Portfolio From 50% to 90% Occupancy
Jul 800:55:08Tap to summarizeCraig Curelop and Miller McSwain sit down for a solo episode of The Co-Living Show to unpack how they took a struggling co-living portfolio from around 50% occupancy to 90% occupancy in just a few months.This was not a simple “post better listings and fill the rooms” story.Before the turnaround, the portfolio had major operational issues. Owners were frustrated, residents were unhappy, vendors had concerns, systems were inconsistent, houses were set up differently, and occupancy was far below where it needed to be.Craig brought the acquisition and growth side. Miller brought the operational systems, leasing process, marketing structure, and resident experience. Together, they walked through the hard process of cleaning up the portfolio, standardizing the houses, communicating with owners and residents, fixing the leasing funnel, and rebuilding trust.In this episode, Craig and Miller talk about the real lessons from the turnaround, including why top-of-funnel marketing, conversion, pricing, tours, retention, resident experience, and change management all had to work together.You’ll hear how they approached:• Taking over 20+ co-living houses• Standardizing property systems• Improving resident communication• Handling messy transitions• Rebuilding listings across Zillow, Roomies, Facebook Marketplace, and Apartments.com• Using better photos, videos, pricing, and automation• Testing different follow-up and conversion strategies• Moving from resident-led tours to self-guided tours• Adding welcome baskets, calls, community events, and referral opportunitiesThis episode is especially useful for co-living investors and operators who want to scale without creating operational chaos.Connect with Craig and Miller:Miller McSwainInstagram: https://www.instagram.com/millermcswainCraig CurelopInstagram: https://www.instagram.com/craigcurelopJoin The Co-Living Community:www.millermcswain.com/community
Transcribe →EP 21 - How Furnished Finder Is Opening the Door for Co-Living Investors
Jul 101:05:19Tap to summarizeIn this episode of The Co-Living Show, Craig Curelop and Miller McSwain interview Jeff Hurst, CEO of Furnished Finder, about the growing connection between mid-term rentals, furnished room rentals, and co-living.Jeff explains why room rentals are becoming one of the fastest-growing areas on Furnished Finder, why the platform needs more affordable supply, and how co-living investors may be able to use Furnished Finder to reach renters looking for flexible housing.The conversation covers what today’s Furnished Finder tenant is looking for, how co-living operators can test the platform, what makes a furnished room more attractive, and why shorter lease terms may create new opportunities for higher rents.They also talk about the differences between Furnished Finder, PadSplit, Airbnb, Zillow, and other rental platforms, plus where Jeff sees the future of flexible housing going.Join our Facebook community: www.millermcswain.com/communityFollow us on Instagram:Craig Curelop: www.instagram.com/craigcurelopMiller McSwain: www.instagram.com/millermcswainConnect with Jeff Hurst on LinkedIn: https://www.linkedin.com/in/jeff-hurst-atx/
Transcribe →EP 20 - How to Buy Off-Market Co-Living Deals (Seller Financing Explained)
Jun 2401:03:51Tap to summarizeOff-market deals are where the deeper discounts live, and in this episode, Craig and Miller bring on Robbie Faithe to show you exactly how to find and structure them. Robbie is an Albuquerque investor, broker, and private lender with 18 years in the business and a full off-market acquisition funnel.In this episode:Why buying off-market juices your co-living returnsHow seller financing works, and how to explain it without scaring the sellerNegotiating on payment instead of interest rateWhy you don't need your own cash to do a dealThe exact cold-call script Robbie uses with sellersHow to get started off-market with no license and no experienceThe "return on energy" metric that drives Robbie's buy boxPlus: should you furnish your co-living rooms? (This week's listener question)Join our free Co-Living Community on Facebook: https://millermcswain.com/communityFollow us on Instagram:Miller: https://www.instagram.com/millermcswain/Craig: https://www.instagram.com/craigcurelop/Robbie: https://www.instagram.com/robbiefaitherealestate/
Transcribe →EP 19 - Airbnb to Co-Living Conversion: Why These Arizona Flippers Made the Switch
Jun 1801:05:41Tap to summarizeWhat happens when two people with 26 years and 2,500+ flips under their belt discover co-living? For Brian and Gina Kingdeski, it meant ditching a struggling Arizona Airbnb portfolio and going all-in on building co-living homes from the ground up.In this episode, Brian and Gina explain why they made the switch, how they fill rooms faster than almost anyone in the space (8 rooms in under two weeks, often before closing), and the construction details that separate a beautiful, high-performing co-living home from a cold, chopped-up "dorm." They get into their 8-bedroom minimum, the ~$7,500/month gross on a converted 1,300 sq ft house, $1–2K/month cash flow per property, and how years of work with their lender let them become their own comps and skip the appraisal headaches most operators run into.You'll also hear the stuff nobody talks about: sewer scopes, three-inch vs. four-inch pipe, why en suites are worth it, using AI to stage bedrooms, and how their faith shapes both how they build and who they rent to.What we cover:Airbnb vs. co-living: scalability, stress, and turnover costsWhat it really costs to convert a short-term rentalThe 8-bed, 3-bath formula and stabilization mathFloor plans that flow vs. hotel-style buildsSolving lender and appraisal problems on high-bedroom-count homesA memorable housemate story and the lesson in compassion behind itConnect with Brian & Gina:YouTube: https://www.youtube.com/@brianandginakingLinkedIn: https://www.linkedin.com/in/gina-kingdeski-48952511b/Website: https://trinitydesignconstruction.com/Here are some of Brian and Gina's latest projects on Padsplit website. https://www.padsplit.com/rooms-for-rent/listing/33417?utm_source=copylink&utm_medium=share&utm_campaign=property_share&utm_content=33417&ref=1022554https://www.padsplit.com/rooms-for-rent/listing/31947?utm_source=copylink&utm_medium=share&utm_campaign=property_share&utm_content=31947&ref=322872https://www.padsplit.com/rooms-for-rent/listing/32891?utm_source=copylink&utm_medium=share&utm_campaign=property_share&utm_content=32891&ref=322872ChatGPT Prompt: https://drive.google.com/file/d/1hpy0-uFm49KIX8kz0mkIWYl4n673EjQn/view?usp=sharingConnect with the hosts: Miller: https://www.instagram.com/millermcswain/ Craig: https://www.instagram.com/craigcurelop/Join The Co-Living Community:https://www.facebook.com/groups/thecolivingcommunityEnjoyed the episode? Leave a rating and review on Spotify or Apple Podcasts, it helps the show grow.
Transcribe →EP 18 - From 65% to 95%: How Pascal Wagner Turned Around a Failing Co-Living Portfolio
Jun 1101:07:56Tap to summarizePascal Wagner bought 12 properties in two years, and then his occupancy dropped to 65%. In this episode, he shares how he booked a one-way ticket to Atlanta, fixed the bleeding, and rebuilt his portfolio into a 104-room operation running at 95% occupancy and a 25% cash-on-cash return.Pascal is a true problem-solver, and he gives a masterclass in co-living operations: how to keep houses clean, set firm standards, reduce churn, and build a team that lets you sleep at night.What you'll learn:How deferred maintenance crushed his occupancy, and the turnaround that reversed itThe "graffiti train" effect and why small messes escalate fastBuilding a "tattle culture" with cameras, fines, and clear expectationsWhy he ditched house managers for dedicated cleanersWelcome baskets, onboarding calls, and slashing 90-day churnThe case against pushing rents, and why filling rooms winsRefinancing co-living, navigating appraisals, and staying upfront with lendersHis current thesis: buy ugly, renovate right, and pull your capital back out—🏠 Join our FREE co-living community: https://www.millermcswain.com/community📲 Follow us on Instagram: Miller McSwain — https://www.instagram.com/millermcswain Craig Curelop — https://www.instagram.com/craigcurelop🔗 Connect with Pascal Wagner on LinkedIn: https://www.linkedin.com/in/pascalwagnerEnjoyed the episode? Leave us a rating and review, it helps us reach more co-living operators.
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