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Scaling Coliving in Singapore | Ft. Eugene Lim from The Assembly Place
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I asked my ex-client, "Why don't you rent the house to me, because I want to run a social experiment.”
He rented the house to me at SGD 5,000...Two weeks later, we achieved a rent of SGD 10,800. Three years later, here we are with 1200 rooms and counting.
Eugene Lim, Episode 2 - Monk Realty Show
In less than 4 years, The Assembly Place (TAP) has grown from "a social experiment" to a fast-growing, cash-flow positive Coliving business. Eugene Lim, Founder & CEO of TAP, explains the story behind it and shares hard-won advice on growing a real estate business.
Eugene Lim is an ultramarathoner, real estate veteran, and founder and CEO of The Assembly Place, a Singapore-based Coliving firm. In this episode, he talks about -
1) The social experiment behind founding TAP
2) Starting a Coliving business without a security deposit
3) What is a good rental yield in Singapore
4) How TAP efficiently runs 1200 rooms with 30 full-time staff
5) Diversifying into Coliving Hotel, serviced apartments, and traveler's hostel
6) How an “asset-light” model helped during Covid
17 episodes
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