Shared Housing: How Investors Can Double Their Income And Solve The Affordable Housing Crisis

In this episode, Toby Mathis, Esq., of Anderson Business Advisors, is joined by Atticus LeBlanc of Padsplit. PadSplit was founded in 2017 to leverage housing as a vehicle for financial independence for low-income workers that serve our communities.

Toby and Atticus discuss how using Padsplit solves problems for renters and real estate investors, providing affordable weekly rate room options AND increasing your net income from your investment property by splitting it up into multiple one-room rentals. Padsplit takes care of all the logistics so you don’t have to – applications, approvals, collections, house-rule complaints, renter ratings, and more.  While they currently only operate in a few major metropolitan areas, if you reach out to them, they will explore expanding and operating in your area.

Highlights/Topics:

• Think about the unused space in your home - like a formal dining room
• The market is full of single renters looking for affordable rooms
• Issues - lack of inventory, the affordability crisis, and builders are creating giant homes
• Padsplit - what is it, and how is it different from AirBnB?
• Padsplit handles all the logistics that you don’t want to - applications, approvals, collections, house-rule issues, etc.
• Weekly rentals have had a false stigma of being for transients
• Turnover costs of one single room is simply a mattress cover
• Hosts provide only wi-fi - but things like a smart tv creates a ‘premium’ rental price
• Why doesn’t everyone do this? Hiring a property manager and Padsplit can be more work than a traditional rental
• Advice - get out there and help solve the affordable housing crisis!

Resources:

Padsplit Website

https://www.padsplit.com/

Atticus LeBlanc LinkedIn

https://www.linkedin.com/in/atticus-leblanc-3960466/

Free Asset Protection Workshops

https://andersonadvisors.com/real-estate-asset-protection-workshop-training/

Anderson Advisors

https://andersonadvisors.com/

Toby Mathis YouTube

https://www.youtube.com/@TobyMathis

Toby Mathis TikTok

https://www.tiktok.com/@tobymathisesq