Back

031 – Rent-Buy Solution | Build a Community | Eric Zosso | Provito Rent Equity

Ask NWI® | Interviewing NWI's Brightest Minds | Thought-Leaders | Business Owners | Entrepreneurs

02/23/18 • 48 min

Summary

The long-term advantages of Buying with the flexibility with Renting is Provito Rent Equity.

Eric has taken his success in the CO-working space and added a twist to develop this concept of a shared responsibility concept to a person’s residence.

Eric Zosso spent five years in the military, so he knows a thing or two about moving. The options are to buy a house or rent an apartment, but neither is perfect. “Both have their flaws,” Zosso explains. “If you look at net worths of owners versus renters, owners tend to be around $145 thousand with their families’ net worth, whereas a renter family is typically around three thousand. A lot of things go into that. That’s not necessarily a causation, but there is a really strong correlation.”

Eric and I take a deep dive into his concept of helping renters gain equity while still having the mobility to move from location to location.

Time-Stamped Show Notes

[00:00] Introduction and background of Eric Zosso of Provito Rental Equity.

[02:40] Provito.

[04:50] Community aspect.

[06:09] Cornerstone Equity.

[09:42] Zosso’s model.

[12:05] The end goal.

[13:35] How would it work?

[18:40] Tenants with equity moving out.

[21:12] The first unit.

[21:44] A different style of property development.

[25:43] Commercial and private space.

[26:28] Rehabilitating his first unit.

[27:28] Scaling.

[27:50] The holding company.

[28:35] Breaking even.

[29:28] Tenant movement and flexibility.

[29:55] Starting the life cycle.

[31:31] Tenant buy-ins.

[32:58] Problem tenants.

[34:55] Self-selecting tenants.

[35:47] Show me the money.

[41:29] Testing on a few units.

[43:55] Coworking and co-living.

[47:07] What you need to know.

[48:03] Contact information.

Links/Resources/Sponsors Mentioned:

Reviews Help a Ton!

Thanks for joining me again this week. If you have any tips, suggestions, or comments about this episode, please be sure to leave them in the comment section below.

If you enjoyed this episode, please share it using the social media buttons you see at the bottom of the post. Thank you!

And finally, please leave an honest review for The Tri Town Advice Givers Podcast on iTunes! Ratings and reviews are extremely helpful and greatly appreciated! They do matter in the rankings of the show and I read each and every one of them.

...more