Ep 61: Real Estate Broker by Day, Co-Living Builder by Night with Benjamin Benomar
Description
Benjamin Benomar is a real estate broker who cracked the code on rental income after 6 years as an agent helping 300+ clients. He created a system for tripling property revenue by managing 25 tenants with 99% occupancy.
In this conversation, Benjamin reveals:
- How to turn $2,500 rent into $8,000 monthly revenue by converting single-family homes into co-living spaces
- The 9-room transformation strategy that maximizes every square foot without violating occupancy laws
- His 99% occupancy system using Facebook groups and PadSplit to fill rooms in 24-48 hours
- The 100% commission brokerage model that lets agents keep maximum profits while funding co-living deals
- Why he targets the "Benjamin of 15 years ago" - the demographic sweet spot that pays on time and maintains properties
- His path from 300+ transactions to broker and how real estate sales fund advanced investment strategies
[00:00 ] The Grant Park Deal - Benjamin opens with his $2,500 to $8,000 transformation example from Atlanta
[00:59 ] Meeting Benjamin - Gideon's intro about meeting in Whistler and Benjamin's multilingual background
[02:42 ] What is a Brokerage? - Benjamin explains passing his broker exam and the leverage opportunity in real estate brokerages
[04:18 ] Brokerage Revenue Models - Breaking down commission splits vs. Benjamin's 100% commission model
[06:41 ] What is Co-Living? - Benjamin defines co-living as an advanced investment strategy that maximizes assets
[08:21 ] The $8,000 Revenue Transformation - Complete breakdown of turning single-family rent into co-living cash flow
[10:00 ] Co-Living Regulations - Navigating occupancy limits and why Benjamin bends rules in certain areas
[12:11 ] The Target Demographic - Why Benjamin targets "the Benjamin of 15 years ago" in B and C+ class properties
[15:06 ] Co-Living Buy Box Criteria - Location, size, privacy, parking requirements, and why HOAs are deal-killers
[22:40 ] From Purchase to Move-In Ready - Renovation process, bathroom ratios, and property management setup
[26:24 ] Filling Rooms Fast - PadSplit platform, Facebook groups, and the 24-48 hour occupancy strategy
[28:00 ] Target Metrics - 15% cash-on-cash returns, $1,500 minimum cash flow, and appreciation strategy
[30:03 ] Co-Living Financing - DSCR loans, conventional financing, and why lenders still use traditional rent ratios
[31:38 ] Management Reality - From 1 tenant to 9 tenants and the systems needed to manage 25 tenants efficiently
[34:23 ] Automation Potential - Current Trello systems and future tech opportunities in co-living management
[36:02 ] The Multifamily Vision - Converting apartment complexes and the European co-living model
[40:52 ] Commercial vs. Residential - Why cap rates matter and how co-living valuations are evolving
[45:21 ] Furnished vs. Unfurnished - Strategic choice to increase tenant retention through unfurnished rooms
[47:08 ] The $5,000 Monthly Blueprint - House hacking strategy for military member Josh to hit his cash flow goal
[51:04 ] Dual Leverage Strategy - How 300+ transactions fund co-living investments and time leverage
[52:40 ] Burn the Ships Philosophy - Benjamin's all-in approach to quitting corporate and going full-time real estate




