The Co-Living Show

Hosted by Craig Curelop and Miller McSwain

Business Entrepreneurship Education

Website RSS feed

Episodes

333

Latest episode

Aug 2026

Language

EN-US

About the show

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 experienced operators, or simply understand the business model in depth, even if you never plan to manage a property yourself. The Co-Living Show does not claim co-living works. It proves when, why, and under what conditions it works. If you want confidence instead of conjecture, systems instead of speculation, and clarity instead of chaos, this is your source of truth for professional-grade residential real estate investing. Subscribe and join thousands of investors building deeper understanding, stronger portfolios, and smarter strategies, without wasting time on noise. This is the future of residential real estate investing. And now you’ll finally understand how it works.

Listen to episodes

60 recent

September 10, 2026Episode 3143 min

EP 31 - How to Negotiate Real Estate Deals: The SCALE Framework

Negotiating a real estate deal isn’t just about getting the lowest price. In this solo episode of The Co-Living Show, Miller McSwain and Craig Curelop break down the SCALE Framework , the negotiation process they use to structure deals that work for both the buyer and the seller. They walk through how to understand seller motivation, create valuable terms beyond purchase price, use new information from inspections and due diligence to renegotiate, establish your limits before emotions take over, and ultimately engineer a win-win deal. You’ll also hear real examples from deals they’ve negotiated, including seller financing, subject-to financing, inspection credits, flexible closing timelines, renovation considerations, and knowing when it’s better to simply walk away. The SCALE Framework: S — Study the Seller Understand why they’re selling, what they actually need, and which terms matter most to them. C — Create Valuable Terms Look beyond price and negotiate things like seller credits, closing dates, financing terms, repairs, furnishings, and flexibility. A — Analyze New Information Use inspections, contractor estimates, sewer scopes, roof evaluations, and other due diligence findings to strengthen your negotiation. L — Lock In Your Limits Know your investment criteria before entering the negotiation and don’t let FOMO convince you to buy a deal that no longer works. E — Engineer a Win-Win Structure the final agreement so both sides can walk away feeling like the deal accomplished what they needed. Whether you’re buying your first rental property or actively scaling a co-living portfolio, this framework can help you negotiate with more confidence, discipline, and creativity. Follow the hosts: Miller McSwain Instagram: https://www.instagram.com/millermcswain/ Craig Curelop Instagram: https://www.instagram.com/craigcurelop/ Learn more about HomeCrew: https://homecrew.co/landlords

September 3, 2026Episode 3054 min

EP 30 - How We Negotiate Real Estate Deals to Save Five Figures

Most investors focus almost entirely on purchase price when negotiating a real estate deal. But price is only one piece of the offer. In this episode of The Co-Living Show , Miller McSwain and Craig Curelop break down how they structure and negotiate real estate offers, including the different levers that can potentially save you tens of thousands of dollars or dramatically improve your cash-on-cash return. They walk through the major components of an offer, including purchase price, closing timelines, inspection contingencies, appraisal gaps, financing contingencies, earnest money, seller concessions, and closing costs. Miller and Craig also dive into more creative strategies such as assumable loans, subject-to financing, seller financing, invoice authorization, and using agent commissions strategically. You’ll also hear the difference between Miller and Craig’s acquisition approaches. Miller shares his numbers-driven system of determining the exact price needed to hit a target return, submitting offers based on how far the property is from that number, and consistently following up with sellers. Craig explains his more seller-focused approach of understanding the seller’s situation first, then structuring the terms around what matters most to both sides. In this episode, we cover: Why purchase price isn’t always the most important number How closing dates can strengthen or weaken an offer Inspection, appraisal, insurance, and financing contingencies How seller credits can improve cash-on-cash returns Assumable mortgages and when they make sense Subject-to and seller-financing strategies Using invoice authorization to finance renovations How earnest money impacts the strength of your offer Miller’s return-based acquisition strategy Craig’s seller-first negotiation approach Why consistent follow-up can lead to significantly better deals A single negotiation strategy can sometimes mean the difference between an average investment and a great one. Connect with the hosts: Miller McSwain Instagram: https://www.instagram.com/millermcswain/ Craig Curelop Instagram: https://www.instagram.com/craigcurelop/

August 26, 2026Episode 2951 min

EP 29 - The 9-Point Due Diligence Checklist That Has Saved Us Thousands

A co-living property can look like a great deal on paper, but one overlooked sewer, structural, zoning, or insurance issue could cost you thousands after closing. In this episode, Miller McSwain and Craig Curelop break down the nine-part due diligence checklist they use before buying a co-living property. They explain which inspections are worth paying for, how inspection findings can create negotiating leverage, and when a serious issue should make you reconsider the deal. You’ll learn how to evaluate: • General property inspections • Sewer scopes • Electrical panels and capacity • Roof condition • Plumbing systems • Structural integrity • Permits and previous renovations • Zoning and occupancy limits • Insurance for co-living properties Miller and Craig also share real examples of issues they have uncovered, seller credits they have negotiated, and costly surprises this process has helped them avoid. Whether you’re buying your first co-living property or adding another home to your portfolio, this episode will help you complete your due diligence with fewer surprises and greater confidence. Connect with the hosts: Miller McSwain: https://www.instagram.com/millermcswain/ Craig Curelop: https://www.instagram.com/craigcurelop/

August 20, 2026Episode 2857 min

EP 28 - Inside the Country's Largest Co-Living Operation

How do you scale a co-living company from a small operation to nearly 4,000 units across major U.S. cities? In this episode, Miller and Craig sit down with Sergii Starostin, co-founder and CEO of Outpost Club, to explore the strategies behind one of the country’s largest co-living operations. Sergii explains how Outpost expanded through organic growth and strategic acquisitions, including taking over properties from Bedly, Quarters, Common Living, and June Homes. He also shares how the company evaluates acquisition opportunities, determines which markets make sense, and chooses between master leases, revenue-sharing agreements, and property management contracts. The conversation also covers: Why Outpost focuses on large projects with 100–200 rooms How acquisitions helped the company enter new markets Why some previously strong co-living markets are now struggling How Outpost evaluates property management companies using EBITDA Why market concentration helps lower customer acquisition costs How AI increased each leasing representative’s capacity from roughly seven leads to 40–50 leads per day How AI is changing leasing, marketing, customer service, and financial operations Why Sergii believes traditional software-as-a-service could disappear Outpost’s upcoming free property management platform, Nebo What the future may hold for co-living operators and property managers Whether you currently operate a few rooms or hope to build a national co-living company, this episode provides a rare look inside co-living at an entirely different scale. Connect with Sergii Starostin: Email: ss@outpost.me Nebo: https://mynebo.co Follow Miller McSwain: https://www.instagram.com/millermcswain/ Follow Craig Curelop: https://www.instagram.com/craigcurelop/

August 13, 2026Episode 2753 min

EP 27 - The AI-Powered Co-Living Owner: Investing From 800 Miles Away

Can 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 investments The advantages of purchasing an operating co-living property How a local property manager supports remote ownership The true cost of combining PadSplit with property management How Tanya uses AI to review income, expenses, and net cash flow A simple way beginners can start analyzing portfolio data with AI Why occupancy can significantly affect smaller co-living properties What Tanya will look for in her next co-living acquisition Why strong local relationships still matter in an AI-powered business Tanya’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 McSwain Instagram: https://www.instagram.com/millermcswain Craig Curelop Instagram: https://www.instagram.com/craigcurelop Connect with Tanya: https://www.facebook.com/tanya.larina.9066

August 6, 2026Episode 2654 min

Ep 26 - Co-Living Arbitrage: The Low-Capital Way to Scale

Can 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 you Arbitrage 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/millermcswain Connect with Craig Curelop: https://www.instagram.com/craigcurelop Connect with Dave Edwards: https://www.instagram.com/djedwards83 Follow 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.

July 30, 2026Episode 2547 min

EP 25 - 8 Things We Look for Before Buying a Co-Living Property

Not 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-living The property size and bedroom count Craig and Miller target How they turn a six-bedroom house into a 10-bedroom co-living property Why parking can become a major deal breaker Their preferred bedroom-to-bathroom ratio How floor plans affect revenue and renovation costs Why they avoid HOAs—even when the monthly fee is low The red flags they look for before making an offer Why attractive listing photos can directly affect occupancy How common areas and private suites can improve the resident experience Whether 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.

July 23, 2026Episode 241 hr 5 min

EP 24 - Building a Co-Living Portfolio While Traveling the World

What 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 hacks Eric’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/soylafon Follow the hosts: Craig Curelop: www.instagram.com/craigcurelop Miller McSwain: www.instagram.com/millermcswain Join The Co-Living Community: www.millermcswain.com/community

July 16, 2026Episode 231 hr 6 min

EP 23 - The Truth About Co-Living Laws Every Investor Needs to Know

Most 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 operators The difference between occupancy limits and zoning restrictions States leading the way in co-living legislation How investors can work with lawmakers to improve housing policy Why long-term success depends on changing the rules—not just working around them If 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/craigcurelop Miller: https://www.instagram.com/millermcswain Sam: https://www.instagram.com/legelawyer

July 8, 2026Episode 2255 min

EP 22 - How We Took a Co-Living Portfolio From 50% to 90% Occupancy

Craig 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 opportunities This episode is especially useful for co-living investors and operators who want to scale without creating operational chaos. Connect with Craig and Miller: Miller McSwain Instagram: https://www.instagram.com/millermcswain Craig Curelop Instagram: https://www.instagram.com/craigcurelop Join The Co-Living Community: www.millermcswain.com/community