I'm a long time traveler who's interested in opening a coliving space. There are two setups I'm considering, one being in the country side in western europe, the other being in a major city in eastern Europe. Both locations were chosen because of high quality of life, an availability of well suited property and because they are locations that I think would be able to sustain the volume necessary to make a good business.
I would hyptothetically be open to other locations in South America and Asia but right now I'm seeing the best value proposition in Europe.
The country side version would require about $2M-3M total investment, the city version would probably be closer to 3m-4m.
In both cases I would like to buy the property outright with loans accounting for less than 1/3 of the purchase and renovation.
I have about $400k I'm bringing to the table although my goal is tor bring that up to around $600k over the next two years and i'm looking for ideally two partners bringing between $400k- 1m to the table each. Obviously your ownership of the company would be closely related to your relative buy in.
The focus would be to build a beutiful, well thought out living space that would cater to travelling workers looking for long term stays in mostly private rooms(minimum 1 week, ideally 1- 3 month, who would be willing to pay around $500/ week for the room, a work space with good internet, coffee tea, snacks, a super simple breakfast, community events and regular communal meals.
I can provide references for examples for similar types of spaces around the world and estimates for numbers on their businesses.
For reference I'm a 30 year old male software engineer who has lived in North America, South America, Europe, Asia and Africa over the last three years. I have substantial experience in real estate and property rennovation although no experience in hospitality.
For the record I'm not looking to rush into this. The first step right now is to find serious partners and to start planning to get something operating over the time span of a year or two.