Ian Ugarte Small is the New Big

I'm actually in the same boat. I've only spoken to Melissa once but I didn't know enough about her to justify a $5k purchase.

Have you chosen one or the other?

 

I think there is plenty of merit in a new/emerging job market. Where a central property manager community manager earns an annual income by serving people living in close proximity to them in a community hub for the elderly. People have access to them for a certain amount of time per week per month per year etc to help on all matter of things. Exists now in nursing homes and retirement villages but I am thinking on a smaller scale, in large homes, with people in reasonable health, that are single, and rely on the pension. ITS NOT a lucrative oppy as such, but something for the right personality type to move out of a disempowering work place and into something they love to do. Suit the social worker type of person with a passion for human rights and promoting positive lifestyles of the aging.

 

Went to the full day seminar in Melbourne on Saturday and definitely found it interesting.

I love Ian’s passion but I do think he probably skims over (for obvious reasons) just how ACTIVE this strategy is.
I could develop 4 townhouses with less stress I reckon than trying to run one share house.

The subleasing strategy is also made out to be a bit easy. I reckon 99/100 landlords would say No and the desperate ones that would allow it, how many are in viable areas?

With all that said I do believe it is a workable strategy for the right mindset. It’s a lot better than most other cash flow strategies I have seen and I would take buying a property and installing 8 bathrooms and kitchens over purchasing in 1 mining town.

A few genuine people that have done the course stood up and spoke and had some great success stories.

 

Great to read this thread
Has anyone been to Ian’s course and done a HMO or Day Rental under his model ? I’m interested in looking at these approaches

 

Surely someone who has the talent and drive in managing these rooms would be better utilised professionally running a real hotel ?
I frequently see hotels for sale that potentially generate large profits .

Unskilled me however ,knowing little , doing little will stick to being the hotel's landlord instead

 

Thanks Beano
I’m keen to hear from someone who is doing it and lessons learnt good and bad

 

Melissa Russo done well? She's got a conviction now for multiple tenancy offences. $5000 fine for property manager after repeat offences show “utter contempt” | Residential Tenancies Authority

 

Not my cup of tea - Ian seems to have a great pitch.
But I could see thru it and didn't sign up.
It was an eye opener - I have learn a few things. Keep my wallet shut.

 

I think from what i have seen on this thread, the people who had done the course liked it. Those who actively did it, are saying its hard work. While people who havent attended the course, are still skeptical (like me). All in all perhaps its still viable for the right person.

 

This is exactly my experience and thinking.

One additional point is around exit strategy: the market for selling a boarding house is far more niche than a simple home.