Dream Start Own Podcast - The Path to Own Your Time
What does a $20M sales organization, a private school and a co-living portfolio in Phoenix have in common? Karl Larsen built all three. In this episode, Karl breaks down how he transitioned from 15 years in Herbalife to solving the housing affordability crisis one co-living property at a time — and why rent by the room is the most underrated cash flow strategy in real estate right now. What we cover: * How co-living turns a 3-bed single family into 8 rooms and nearly doubles gross rent * Why Karl moved from fix and flips to co-living and multifamily * The tax problem that pushed him into real estate and how he found Pace Morby at midnight in Montana * Lake Academy: the private school he built in 90 days out of necessity * How to invest passively with Karl and Kyle Kargas — no experience required * How investor money is protected: liens, guarantees and cross-collateralization explained * The Elite Operator: scale without chaos coaching for real estate operators * Building a business with your spouse — what the first 18 months really looked like * The second mountain: why purpose now drives every business decision * One action to take this week if you want to start in real estate About Karl Larsen:Karl is a real estate investor, co-living operator, entrepreneur and co-founder of Lake Academy in Minnesota. He partners with Kyle Kargas on co-living properties in Phoenix and Atlanta and runs the Elite Operator coaching community for real estate operators who want to scale without chaos. Chapters:00:06 - Intro + who Karl Larsen is01:30 - Growing up without entrepreneurial examples03:08 - Living in a van: the scariest moment of his first business07:02 - Herbalife brick and mortar: from 22 to 120 customers10:02 - Why Herbalife — and what a storefront changed11:43 - Building with his wife Brooke: the first 18 months15:36 - What made Brooke see his potential18:06 - How they grew the organization to $20M a year21:07 - Why spending time with your people is the actual secret26:22 - Why he pivoted from Herbalife to real estate28:05 - The tax problem and finding Pace Morby at midnight in Montana31:04 - Letting go of the baby you built for 15 years34:48 - Lake Academy: the private school built in 90 days39:28 - Project-based learning and the Shark Tank session43:19 - What co-living actually is and why it's getting mainstream45:38 - Why houses won't go back to 1999 prices — and what to do instead47:57 - PadSplit, property managers and their Phoenix operation48:33 - The numbers: 3-bed to 8 rooms, $2,500 rent to $6,400 gross50:14 - How to work with Karl and Kyle: kyleandkarl.com51:32 - No experience needed to invest — here's how it works52:36 - How investor money is protected55:16 - Biggest misconceptions investors have57:20 - Phoenix and Atlanta: the two co-living markets58:07 - The Elite Operator: scale without chaos coaching1:01:57 - Why busy founders need a community not a podcast vault1:05:00 - What running all of this actually costs him personally1:09:00 - The second mountain: what purpose means now1:14:40 - What the next 10 years look like1:18:15 - One thing to do this week if you haven't started yet1:21:24 - Where to find Karl 🔧 Tools & Resources 🔧Some links may be affiliate partnerships.🏠 Karl Larsen: multiunitincome.com | carlglarsen.com🤝 Co-living with Kyle and Karl: kyleandkarl.com🎓 Lake Academy: lakeacademy.com💸 Deal Funding 360: app.dealfunding360.com/?ref=EdgarSalgado💤 Eight Sleep: https://refer.eight.sl/edgardsalgado [https://refer.eight.sl/edgardsalgado]🏢 Prime Corporate Services: https://primecorporateservices.com/ [https://primecorporateservices.com/]?_...🏦 Foundational Funding: https://foundationalfunding.com/fundi [https://foundationalfunding.com/fundi]...🛠️ Edgar's tools: https://linktr.ee/EdgartheConnector [https://linktr.ee/EdgartheConnector] 🔌 Don't forget to 👍 like, 💬 comment, 🔔 subscribe, and share!Instagram: @edgartheconnector | TikTok: @edgarsrei 🚧 DISCLAIMER 🚧Not a CPA, attorney, insurance, contractor, lender, or financial advisor. Content is not tax, legal, financial, or other professional advice. For entertainment purposes ONLY.
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