Imagine turning a property into a money-making machine–a retirement nest egg or a current full-time income as a PadSplit host. Take the dream you felt as an eight-year-old kid opening up your first lemonade stand and running with it! Use that same imagination and vision you had in grade school to learn how this investment and the related tools might change your life. While real estate investing can be stressful, the pros are transformative. Bring the drive and passion, and pros of setting your own hours and unlimited growth, and learn how to invest in rental property.
PadSplit emerged as a rental option in 2017. Several guiding principles around vision, passion, and growth inspire and inform our work. Our mission of caring and empathetic company culture translates to our PadSplit hosts and ultimately our customers. Our PadSplit hosts and company model excellent community work and a “show it” and “prove it” mindset and together create an action-oriented model of care. PadSplit hosts receive good communication and feel supported, which, in turn, serves guests with thoughtful choices in rental property investment or turnkey property. PadSplit offers solutions to solve affordable housing concerns and educates hosts and answers every aspect of the question of how to invest in rental property.
We offer options for growth for both PadSplit hosts and low-income renters. As a host, the income potential is available for you no matter your age or background in real estate. Even though now, the scale of income for PadSplit hosts is more significant and adventuresome than plans in your childhood years, PadSplit makes it efficient for future hosts. Let’s break down the rental property investment complexities together.
- What exactly is real estate investing?
- What is the initial start-up cost for PadSplit hosts?
- What are some advantages of PadSplit over traditional single-family rental or Airbnb models?
- What are some of the potential cautions?
- How do we choose the best location with the highest earning potential?
Traditional single-family rental real estate provides value and earnings, but PadSplit is another option for more profit-making through analyzing and optimizing your space. The experts at PadSplit do this work for you and broaden your knowledge of how to invest in rental property. The design of the PadSplit rental sets it apart from traditional single-family rental and Airbnb too. Every room within the PadSplit property could potentially be utilized for rental income. In some instances, guests request private bathrooms within the room; this feature sells quickly.
What is the difference between PadSplit and other rental property investments? While the traditional owner/renter transaction is often done through online means, variations within the living space are the key with PadSplit. In traditional approaches, the option of renting just one room does not exist, keeping some lower-income people out of the renters’ market. PadSplit hosts earn more and provide more opportunities for lower-income workers. The PadSplit host has greater opportunities to build credit quickly. Design and affordability create so many options.
Forecast for the market and what to look for
Why do we look at Atlanta, Georgia, for potential PadSplit rentals? Location in real estate determines outcomes on everything from income potential to flexibility in household size. PadSplit hosts experience only researched and chosen areas slated for key growth and higher income, and metro Atlanta is just this type of place. According to the Atlanta Regional Commission, the area’s growth will skyrocket by an additional 2.9 million by 2050. The total population will soar to 8.6 million by 2050 according to Population and Employment Forecasts This high population growth provides income opportunities with the projection of 1.2 million jobs added in the coming years. In the forecast, Gwinnett county’s population will exceed Fulton–something useful when discussing location. Gwinnett, Fulton, and Cobb counties project the largest population bursts and hold great rental potential for PadSplit hosts.
Do the PadSplit host math
PadSplit does the difficult work through the online calculator. Next, how much can you afford to buy? How much are you throwing away in rent? PadSplit calculates these numbers in a matter of seconds through the PadSplit Earnings Calculator. This tool considers all important components in the rental-buying business.
For example, on the calculator tool, we see a 6-bedroom home in Covington, Georgia, with a purchase price of $145,000 would bring in $1258 monthly in a recurring income. Overall, this home would rent for $765 in a traditional renting situation.
This jump is a 64% increase according to the PadSplit calculator. The removal of this housing debt now goes from 6% (traditional renting) to 8% with the PadSplit Calculator PadSplit takes the guesswork out of the year-over-year returns. According to the calculator, hosts experience this income each year which is significantly better than traditional renting. PadSplit hosts could reap a whopping 64% increase over the year. How does it happen? PadSplit makes use of the rooms by renting out more areas of the home. PadSplit offers more income and can take rental earnings from recurring profits of $1,258 monthly by optimizing the rooms.
PadSplit offers renters the ability to rent just one room, making it more affordable. PadSplit hosts experience easier screening such as background checks and employment verifications using electronic screening of applicants for PadSplit hosts. Use this feature to find the exact values: Calculate Your Property’s Earnings.
PadSplit savvy: Decide how to rent it
What is the difference between PadSplit and other rental options? PadSplit is more affordable. Airbnb rentals require constant management from the choice of guests to the pricing of the properties and scheduling on the websites. With traditional rentals, the work goes into screening applicants, and with a lower turnover rate. PadSplit manages the residents from the pre-screening to the day-to-day managing of residents.
Case Study: Brittany and Derrick
Take the PadSplit Host Story, “Brittany and Derrick,” to explain how becoming a PadSplit host was life-changing. Derrick was an Atlanta native who moved away but came back to the city in 2015. He couldn’t believe what was happening as the housing market drastically rose to such unaffordable heights. Rental prices continued to jump and become unattainable for many. That is when Derrick decided to partner with Civitas. He and his wife Brittany had a vision, and the drive to make it happen. Like Civitas, the couple envisioned better, affordable housing and made the Civitas Partnership a reality.
PadSplit hosts, such as Brittany and Derrick, realize the concerns around the housing shortage in the area, and PadSplit makes rental property investment paths clearer and opens the door for many groups looking for a reasonable place to live. The PadSplit mission of empathetic care guides our work, this partnership between guests and hosts, and many others, strengthen the culture of our company.
Find a house for successful PadSplit hosting
Ready to jump in? How do you ask your real estate agent questions and begin your own research? You may want to come up with a list of questions to find a good fit for your needs. Check out the PadSplit Vendor Network for a comprehensive view of options. The Professionals in the network can pinpoint more options and the potential of a particular property. Since we know the location is one of the single most important questions you can ask, consider how to pick the best Padsplit location. Is the location flexible? Is it close to shopping? What about a major transit? Have you researched the crime report for the particular area as a Potential PadSplit host location and owner? No long-term leases should be required for tenants and openings can become available immediately to increase income. Flexibility, lower credit-score applications, and greater opportunities to rent, small affordable spaces are vital. We all have a vision for our rental property investment. Now we can narrow down our plan and carry it out to enjoy more sunny, carefree days.