#571: How to Double Your Rental Income With This Co-Living Strategy

Denver Investment Real Estate

#571: How to Double Your Rental Income With This Co-Living Strategy

July 08, 2025

Episode Overview

While most landlords collect $1,800 monthly from single-family rentals, Miller McSwain generates $6,000+ from the same property type using co-living strategies. His room-by-room approach consistently produces 2-4x traditional rental income while maintaining 95% occupancy rates across his Colorado portfolio. This conversation reveals Miller’s complete playbook for transforming ordinary houses into high-income co-living properties that any investor can implement.

Host Chris Lopez interviews Miller McSwain, the BiggerPockets author who just published “Co-Living Cash Flow” and developed the industry’s first co-living management software. Miller has systematically built his income from zero to $15,000 monthly across 7 Colorado properties in just four years. His methodical approach to property selection, strategic renovations, and community management has created a replicable system that generates consistent results for investors at any experience level.

This episode breaks down Miller’s proven framework for identifying co-living opportunities, executing profitable renovations, and managing multiple tenants through community building rather than traditional landlording. You’ll discover his specific property criteria that ensure success, the renovation approach that adds bedrooms while preserving income-generating common spaces, and the tenant management techniques that achieve 10-month average stays without the headaches most landlords fear.

In This Episode We Cover:

Miller’s property selection system that identifies 2-4x income potential before you buy
The renovation formula that turns 3-bedroom houses into 8-room income generators for $20K
Community management strategies that fill rooms faster and keep tenants longer
Room pricing optimization – how to command $700-$1000 per room vs $1800 total rent
Equity partner structures that fund property acquisitions without personal capital
Legal advantages in Colorado following recent occupancy law changes
Operational systems that maintain high occupancy with minimal management time
And Complete Step-by-Step Implementation Guide!

Whether you’re house hacking your first property or looking to scale beyond traditional rentals, this episode provides proven strategies for maximizing cash flow through co-living. Miller’s systematic approach to tenant screening, community building, and operations management offers a blueprint for sustainable room-by-room rental success.

https://youtu.be/LFDDljbJusE Timestamps

00:00 – Welcome & Miller McSwain Introduction
01:56– Miller’s Background Journey
04:04 – Why Colorado Springs Over Denver
06:06 – Co-Living vs Short-Term Rentals
07:42 – 3-Bedroom to 5-Room Conversion Strategy
09:47 – Scaling with Equity Partners – OPM Strategy
11:21 – $500K Cimarron Hills Property Generating $2K Monthly
15:08 – Biggest Co-Living Mistakes
18:39 – Colorado Occupancy Law Changes
22:16 – Community Building vs Boarding House Models
27:27 – Property Management Challenges
30:19 – Co-Living Pro Software Launch
35:36– Problem Tenant Removal Process
39:40 – Book Details & Conference Recap