How PadSplit enables an Atlanta-based host to focus on growth instead of operations
At a glance:
- Has 11 Atlanta homes listed with PadSplit
- Average of just 74 days from purchase to renter-ready, including renovations
- Monthly return of 13-18%
PadSplit host Pascal Wagner turned an interest in house hacking into a portfolio of 12 homes in Atlanta, Georgia over the course of the last four years. As his cash flow increased and he was able to add more homes, he tired of the manual, hands-on nature of running the day-to-day operations.
“I’ve been doing co-living for so long, but it’s impossible to find a property manager that will do co-living,” he explains. “Before PadSplit, I had been doing it on my own. I come at this from an investor’s point of view–I wanted someone to take operations off my plate.”
Growth above all
Pascal takes a big-picture approach to his real estate investments, and PadSplit has made it easy.
“I want to focus on scale versus simply getting the most profit I can out of each home,” he says. “PadSplit is a phenomenal partner. They make it really easy for me to go out, raise money, buy a home, hire a general contractor, renovate, then hand it off to the property management team.”
He notes that on average, it takes just 74 days from the date of purchase for his PadSplit properties to be renter-ready, and 11 of his 12 homes are currently listed with PadSplit.
Top-notch reporting
“It’s hard to run a business when you don’t have the metrics,” Pascal says. He notes that PadSplit’s reporting capabilities are second to none, and the depth and breadth of data he receives make all the difference.
On the host dashboard, Pascal has access to a host dashboard with a wealth of information, including a monthly financial snapshot, tenant satisfaction scores, move-in ratings, earnings reports, and number of page views for his listings. “Anytime I need something, even if it isn’t in the reports, the PadSplit team gets it for me,” he says.
A smart move for today’s economy
Pascal plans to keep investing in the co-living sector, and believes it’s an especially good strategy during times of economic downturn, when higher-priced housing options become unattainable for more people. And with an annual cash-on-cash return of between 13-18%, it’s an asset class he plans on continuing to pursue.
“The easiest way to become a real estate investor is to buy a single family home. This method of renting out the extra rooms just makes it a no-brainer.”
