Prerequisites
- ✓Operator track record or substantial relevant experience
- ✓Identified properties or pipeline
- ✓Underwriting model (RevPAB, OpEx, NOI, IRR)
TL;DR
12–16 slides covering: thesis, problem, market, model, traction, team, properties, financials (revenue, OpEx, NOI), exit, ask. Lead with a number that anchors the deal (target IRR or fund-level multiple). Investors evaluating coliving want to see real RevPAB, real OpEx, real ALOS — generic claims kill the pitch.
Step-by-step
- 1
1. Slide 1 — Cover + headline number
Operator name, fund/deal name, headline number (target IRR, AUM, beds operated). One sentence describing the model.
- 2
2. Slide 2 — Thesis
What you believe the market is doing and why your structure captures it. 50 words max. Don't generalize; specify your edge (geography, segment, deal type).
- 3
3. Slide 3 — Problem + market opportunity
Underlying housing demand pool you're addressing. Segment-specific market sizing — not 'coliving market is $13B'. Use bottom-up TAM / SAM / SOM if making a sizing claim.
- 4
4. Slide 4 — Operating model
Asset-light vs asset-heavy, master lease structure, fee structure, CapEx range per bed. Concrete unit economics (RevPAB, OpEx, NOI margin).
- 5
5. Slide 5–6 — Traction (or pipeline)
If operating: real properties, real RevPAB, real ALOS, real margins. If pre-revenue: pipeline, signed LOIs, regulatory progress.
- 6
6. Slide 7 — Team
Operating experience, real estate background, regulatory/compliance experience. Highlight relevant prior coliving experience explicitly.
- 7
7. Slide 8–10 — Specific properties (or fund pipeline)
Detailed underwriting on top 3 properties: location, beds, RevPAB, OpEx, debt structure, equity, IRR. This is where investors get convinced (or not).
- 8
8. Slide 11–12 — Financials roll-up
Portfolio-level forecast over 5–7 years. Revenue, OpEx, NOI, equity returns. Include exit cap rate assumption explicitly.
- 9
9. Slide 13–14 — Risk + downside
What kills the deal? Regulatory, occupancy, exit cap rate. What's your worst-case IRR? Investors trust operators that show genuine downside thinking.
- 10
10. Slide 15 — The ask
How much capital, structure (equity, mezz), timeline, return targets, exit. Be specific.
Common issues + fixes
×Using generic 'coliving market is growing' slides
→Replace with bottom-up market sizing for your specific segment / city. Generic stats signal you haven't done the work.
×Hiding regulatory risk
→Address explicitly. Investors will find it in DD anyway. Acknowledging risks and showing your mitigation is more credible than minimizing.
×Aspirational unit economics without basis
→Every number should map to a comparable operator filing or your own track record. 'We expect to achieve 30% margins' without showing how is a deal-killer.
Frequently Asked Questions
How long should a coliving pitch deck be?
12–16 slides for institutional capital. 8–12 for early-stage angel / family office. Longer than 20 slides typically signals lack of focus.
What financials do investors expect to see?
Real RevPAB, ADR, occupancy, ALOS for existing properties (or specific underwriting for pipeline). 5–7 year P&L forecast. Sensitivity table on top 3 variables. Exit cap rate assumption.
Should I include comparable operator metrics?
Yes — but cite them. 'Habyt's blended RevPAB is €X' from a specific source builds credibility. Made-up comparables are immediate red flags.
Investor Pitch Generator
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