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

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:

• Facebook Instagram
• WeProvito.com
• www.MakeImpactMondays.com
• Become a Guest on the show

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