One of our favorite cities, Charleston, SC, has an inaffordable housing problem.
The average cost of a 1-bedroom apartment is $1,223 a month. That may compare favorably with rents in other large cities but it’s the highest in the Carolinas.
Local entrepreneur Derek Snook saw a need and found a solution for people struggling to find an affordable place and those happy to have company in their homes.
Snook calls it CoLife, an online platform matching renters with homeowners willing to rent a room and make extra income.
“Living in a community is affordable and living in isolation is expensive,” he said.
Homeowners register with his online business and undergo a background check, offering a room in their homes for a set price including utilities. Those looking for a place to live also fill out a profile and get a background check.
If there’s a match, CoLife puts the client in touch with the homeowner and they chat online or on the phone before meeting.
What does this mean for you?
Think of problems of those in your community and what you in your industry can do to help. It’s a need that you can take care of, make money and expand your business.
We share such field-tested ideas and strategies in our book “Million Dollar Strategies of Maverick Entrepreneurs.” For a copy email JerryBellune@yahoo.com.
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