Co-Living 401: Claim Your Territory

Class Title	Co-Living 401: Claim Your Territory
Course Type	Co-Living Developer Apprenticeship
Community	Owners Club (OC) Only
Format	10 modules, 40 minutes each \| Live Lab (Zoom): one Lab per every two modules -- instructors and students review deliverables and discuss progress together (Labs: M1–2, M3–4, M5, M6–7, M8–9, M10) \| Apprentice Field Trips: 1 required for White Belt graduation + 2 additional during Blue Belt (Houston, TX -- min. 1 Pre-Drywall overall; Live Lab counts as one field trip)
Lead Instructors	Dustin Geroski, Jim Vani, Kaipo Cordeira
First Class Date	TBD
Final Class Date	TBD

The Co-Living Developer Progression

WHITE BELT	Co-Living Developer Apprentice Learning co-living developer skills and best practices as an apprentice inside active transactions.
BLUE BELT	Active Co-Living Co-Developer Limited Enrollment: 1 cohort per quarter, 10 attendees accepted total. Co-developing transactions and building your own portfolio while raising private capital and holding equity.
BLACK BELT	Co-Living Co-Developer, New Market (Invite-Only)
MASTER BLACK BELT	Independent Co-Living Developer

Class Transformation

The goal of Co-Living 401 is to put you on track to become the trusted co-living market expert for your territory. That is the transformation. The apprenticeship is the vehicle. White Belt apprentices are embedded in live transactions from day one, building hands-on co-living developer skills from inside every deal they work, earning a development fee at closing. Blue Belt co-developers go deeper: co-developing new construction projects, raising private capital, and holding equity in the properties they help build. In both cases, connecting buyers and raising capital is part of the role, not the point of it. The skills, track record, and capital relationships you build along the way are what make you the go-to co-living expert in your market, and what qualify you for the Black Belt application.

By the End of This Course, Participants Will:

Learn co-living development by doing it — embedded in real active deals as a White Belt apprentice, building hands-on co-living developer skills from inside every live transaction (earning a development fee along the way)
Underwrite any co-living deal using the Profit Share Blueprint calculator
Co-develop new construction projects as a Blue Belt: hands-on contractor vetting, inspections, project tracking, Gantt charts, and EOS accountability on every build
Negotiate equity into a deal alongside a buyer and raise private capital to support the structure (Blue Belt)
Build and present a capital raise with a fully underwritten deal behind it
Navigate the full co-living developer capital stack: construction/build loan, DSCR, private money, fractional equity, and silent second notes
Learn the various intricacies of three new construction co-living ground-up builds — site visits are encouraged with our team present
Complete the Blue Belt track and qualify for the Black Belt application process

The Four Belt Levels

Co-Living 401 covers White Belt and Blue Belt. Black Belt and Master Black Belt are shown here for context so every participant understands the full progression.

WHITE BELT	Learns introductory co-living developer skills and best practices from inside every active deal Embedded in real transactions from day one. This is learning by doing, not observation. Connects buyers to team-sourced co-living properties and earns a development fee at closing. Does not hold equity. (Current active market: Houston, TX) Graduation: all Module 1-5 homework completed + ebook built and distributed + office hours started + 1 closed deal as primary point of contact (contract signed, wire sent) + 1 Apprentice Field Trip in Houston, TX
BLUE BELT	Limited Enrollment: 1 cohort per quarter, 10 attendees accepted total Learns co-living developer skills hands-on on every build: contractor vetting, inspections, project tracking, Gantt charts, project management, and EOS accountability Actively co-develops new construction projects alongside the team from contract through Certificate of Occupancy Negotiates equity into deals and raises private capital. Can use own money. Blue Belt entry requires 1 White Belt closed deal + 1 Apprentice Field Trip completed. Earns development fee at closing AND holds long-term equity (cash flow, appreciation, depreciation) Blue Belts with 50%+ capital secured may present their deal to a private fund Graduation: 3 ground-up co-living builds (Certificate of Occupancy issued on each) + 2 Apprentice Field Trips during Blue Belt (at least 1 Pre-Drywall inspection) -- all must be completed before submitting the Black Belt application Apprentice Field Trips: 1 required for White Belt graduation (Houston, TX). 2 additional required during Blue Belt (at least 1 must be a Pre-Drywall inspection visit). The Live Lab is a paid in-person experience paired the day after a site visit -- attending it counts as one field trip. Total across both belts: 3.
BLACK BELT	Invite-only after completing 3 ground-up co-living builds at Blue Belt Does everything a Blue Belt does, plus enters a new market with the team The team builds 3 ground-up co-living properties there and sells them to the Black Belt's co-living development team The Black Belt owns the assets and may bring their own private capital partners Covered in Co-Living 501 (coming soon)
MASTER BLACK	Earned after 1 White Belt + 3 Blue Belt + 3 Black Belt builds (7 total) Has participated in and watched the team build 7 properties across all three belt levels Has the knowledge and track record to execute builds independently Covered in Co-Living 501 (coming soon)

White Belt Pillars

White Belt builds four lifetime assets: your first closed transaction, the buyer and investor relationships you develop along the way, the authority and credibility you establish in your market, and the repeatable systems you build for outreach. The five pillars below are what make those assets real.

1	This Is Where You Begin Learning. Not Where You Prove What You Already Know.	White Belt is not an expert program. You do not need construction experience, rehab knowledge, or a background in building to start. This is the entry point into co-living development. The expertise comes from doing it from inside real deals.
2	Your First KPIs Are Social Posts and Live Events. Hit Those Before You Try to Hit Anything Else.	The White Belts who fall behind have one thing in common: they go quiet. No social presence, no events, no visibility in their market. Your marketing activity each week is how buyers find you and how your reputation as a co-living developer starts before you ever close a deal.
3	You Earn a Development Fee. Not a Commission. Know the Difference.	White Belt is a co-living developer apprenticeship -- you are learning development from inside real deals. The development fee is your compensation for bringing a qualified buyer and supporting the transaction. It is not a referral fee or a commission. Know how it is calculated and how to explain it.
4	Every Transaction Is a Co-Living Development Education. Be Present for All of It.	As a co-living developer apprentice, your education happens inside active deals. The buyer conversation brings the fee. The structure, the capital stack, the decisions, and the handoffs teach you how co-living development actually works. That knowledge is what the apprenticeship is built to give you.
5	One Closed Transaction Is the Graduation Requirement. Modules Don't Graduate You. Deals Do.	White Belt graduation is one closed transaction: contract signed, wire sent. Completing modules builds your knowledge. Closing a deal builds your track record. You need both, but only one of them moves you to Blue Belt.

Blue Belt Pillars

The 10 non-negotiable truths, skills, and lessons every Blue Belt Active Co-Developer must operate from.

1	The Blue Belt Co-Living Developer Earns Active Income and Builds Long-Term Equity. Both. At the Same Time.	You do not trade your development fee for an equity stake. You earn both. The fee is your active income at closing. The equity is your long-term wealth. Structuring deals to capture both is what the Blue Belt level is built to teach.
2	Capital Is Raised Before the Deal Closes. Not After.	Private investors do not fund surprises. They fund deals they understood before they committed. Your capital raise is built through education, relationship, and a fully underwritten deal structure — all of it in place before you close.
3	The Owner Mindset Starts at Blue Belt.	White Belt co-living developers learn inside deals. Blue Belt co-living developers own inside deals. That shift is mental before it is structural. You stop asking "can I be part of this?" and start asking "how do I structure this to hold equity?"
4	Equity Is Negotiated. Not Assumed.	A Blue Belt co-living developer does not receive equity because they showed up. They negotiate it into the deal structure, with the buyer, with the capital partners. At Blue Belt, the Profit Share Blueprint shows how equity is structured and split. That is the tool that makes the equity conversation concrete. The three co-living builds are what make you credible when you have it.
5	Three Builds Is the Milestone. One Deal at a Time Is the Path.	Black Belt is earned after three ground-up co-living builds reach Certificate of Occupancy. That is the requirement. The path to it is simple: one deal, one build, one CO at a time. Do not look for shortcuts past the work.
6	Brand Building Is How You Attract Capital.	Capital partners do not fund strangers. They fund co-living developers they have been watching. Your ebook, your social presence, and your ability to pitch a co-living deal all serve one function: making you the obvious choice before the investor has to decide.
7	The Blue Belt Co-Living Developer Builds a Team, Not a Job.	You do not scale by doing more yourself. You scale by installing systems and people around you. The Co-Living Development Operating System from Module 7 is not optional at Blue Belt. It is how you manage three builds at the same time without losing one of them.
8	Project Updates Are Investor Relationship Tools. Treat Every One Like It Matters.	Every few weeks you receive photos, videos, and progress updates from the active build. Blue Belt co-living developers who thrive convert every one into a professional investor update — explaining the milestone, what it means, and what comes next. The ones who don't miss the easiest relationship-building opportunity on the entire track.
9	Learn the Build by Being Inside It. Site Visits, Milestone Updates, and the Trades Are Your Curriculum.	Blue Belt co-living developers learn co-living construction from the inside: what each major inspection is called, what each trade is responsible for, and why each milestone matters to the timeline and the capital partner. When the team is on-site, you are encouraged to be there. The photos and updates are your weekly coursework. The site visits are your classroom.
10	The Blue Belt Track Is the Proof That Earns the Black Belt Invitation.	Black Belt is not a promotion. It is an invitation that opens after you have proven yourself through three complete builds. The Blue Belt track is not a prerequisite. It is the proof itself.

Module Overview

#	Lead	Module	What You Will Learn	Framework	Deliverable
1	Dustin Kaipo: Obj Jim: Recap+CTA	The Path and the Mindset	Why co-living development, 101/201/301 recap, why new construction, belt progression, White Belt and Blue Belt roles.	The Co-Living Keystone Framework™	Entry Point Declaration (3 reasons White Belt is right for you now + first 3 names to reach out to as buyers) Open Template ↗
2	Dustin Jim: Obj Kaipo: Recap	Claim Your Territory: The Market Ebook	The 5-use authority asset, picking your target market, sourcing 3 resources, answering the 15 market research questions, building your ebook outline.	The Territory Authority Framework™	Ebook outline with target market + 15 questions answered Open Template ↗
3	Jim Kaipo: FW+Obj Dustin: CTA	The Co-Living Capital Stack	The 6 layers of every co-living development deal, how each layer works, and how to explain the deal structure to a buyer.	The Co-Living Capital Stack™	Capital Stack Diagram (visual 6-layer stack, one plain-language sentence per layer, presentable from memory) Open PDF ↗
4	Dustin Kaipo: Obj Jim: Recap+CTA	The Profit Share Blueprint	8-step Profit Share Blueprint calculator: inputs through equity partner returns. Apply it to a real or hypothetical deal.	The Profit Share Blueprint™	PSB deal analysis + Buyer Presentation Stack Open Template ↗
5	Dustin Jim: Obj+Recap+CTA	Buyer Development: Deal 1 Prep	The Law of Reciprocity in action, running weekly office hours, building your warm attendee email list, running your first PSB walkthrough with a real contact, and the Blue Belt qualification checklist.	The White Belt Warm-Up System™	Warm-Up System Kit (first office hours session hosted + attendee email list started -- 5 minimum + one PSB walkthrough documented with a warm contact)
★ BLUE BELT APPLICATION VIDEO -- Submitted by candidates after completing Modules 1 through 5. Candidates record a short video covering what they learned in the White Belt track and why they are ready for Blue Belt. The team reviews all submissions and selects candidates for the next Blue Belt cohort.
BLUE BELT BEGINS — Modules 6 through 10
6	Dustin Jim: FW+Recap+CTA Kaipo: Obj	The Capital Attraction System: Raising Private Money	Blue Belt entry: owner mindset and equity awareness. Then: brand building, investor pipeline, and converting qualified contacts into capital partners.	The Capital Attraction System™	The Capital Attraction Playbook (Investor Persona, Pipeline, 90-Day Campaign, Raise Window Plan + Outreach Templates) Open Template ↗ View Funnel ↗
7	Kaipo Dustin: FW Jim: Obj+Recap	The Operating System: Building Your Co-Living Development Team	EOS for co-living development teams: seats, L10 meetings, scorecard, 90-day rocks.	The Co-Living Development Operating System™	Co-Living Development OS Starter Kit Open Template ↗
8	Jim Kaipo: Obj	The Build: Setting Up for Success	Hire and vet a GC, contract structure, milestone management, and budget control before the project starts.	The Builder Management System™ — Part 1	Builder Setup Package Open Template ↗
9	Jim Kaipo: Obj Dustin: CTA	The Build: When Things Go Wrong	Contractor fraud and abandonment, mechanics' liens, draw controls, permit delays, change order abuse, and investor communication when problems arise.	The Builder Management System™ — Part 2	Problem Management Kit Open Template ↗
10	Dustin Jim: FW Kaipo: Obj+Recap LD: CTA (Guest)	Three Builds, One Track Record	Complete 3 ground-up co-living builds and 2 Blue Belt Apprentice Field Trips (at least 1 Pre-Drywall; Live Lab counts as one), then qualify for the Black Belt application. White Belt field trip is a prerequisite for Blue Belt entry.	The Territory Build Track™	Three-Build Progress Dashboard + Black Belt Application Checklist Open Template ↗

Module Outlines

Course Workbook

All 10 module deliverables in one place. Complete each section during or after its module. Bring this workbook to every Live Lab.

Student:

Belt:

Market:

Start Date:

MODULE 1 The Path and the Mindset Entry Point Declaration ▼

MODULE 2 Claim Your Territory: The Market Ebook Keystone Market Ebook Outline ▼

#	Name / Company	Type	Contact
1		Property Mgr
2		Property Mgr
3		Owner / Co.

MODULE 3 The Co-Living Capital Stack Capital Stack Diagram ▼

Layer	My Explanation (buyer-friendly language)
Layer 1 — Construction Loan
Layer 2 — DSCR Loan
Layer 3 — Private Capital
Layer 4 — Fractional Equity
Layer 5 — Silent Second Notes
Layer 6 — Development Fee

MODULE 4 The Profit Share Blueprint PSB Deal Analysis + Buyer Presentation Stack ▼

PSB Step	My Numbers
Step 1 — Inputs	ARV: _______ Beds: _____ Weekly Rate: _______ Costs: _______
Step 2 — Monthly Net
Step 3 — Appreciation
Step 4 — Annual Cash Flow
Step 5 — Debt Paydown
Step 6 — Depreciation
Step 7 — Interest Payments
Step 8 — Equity Partner Returns (per $10K)	1 yr: _______ 5 yr: _______ 10 yr: _______

MODULE 5 Buyer Development: Deal 1 Prep Warm-Up System Kit ▼

MODULE 6 The Capital Attraction System Capital Attraction Playbook ▼

MODULE 7 The Operating System Co-Living Development OS Starter Kit ▼

MODULE 8 The Build: Setting Up for Success Builder Setup Package ▼

MODULE 9 The Build: When Things Go Wrong Problem Management Kit ▼

Window	My Action
Hours 0–4
Hours 4–12
Hours 12–24
Hours 24–48

MODULE 10 Three Builds, One Track Record Three-Build Dashboard + Black Belt Checklist ▼

Seat	Current Owner	Hire Target / TBD
Acquisitions
Capital
Construction Management
Tenant Operations
Finance

Criteria	GC 1	GC 2	GC 3
Name
Co-Living / 4-plex Experience
Bonded + Insured
References (3 checked)
Communication Style
Pricing Transparency
Red Flags
Selected GC

Milestone	Payment	Lien Waiver Required?	Collected?
Contract Signed
Permits Pulled
Construction Start
Framing Complete
Rough-Ins Complete
Drywall / Finishes
Certificate of Occupancy

Build	Address / Deal	Contract	Permits	Start	CO Date	Capital Raised
1
2
3

Ch.	Chapter Title	Key Takeaway
1
2
3
4
5

#	Name	Email	Source (ebook / referral / social)
1
2
3
4
5
6
7
8
9
10

#	Rock	Owner	Due Date
1
2
3