This couple found purpose with PadSplit & gross $36,000/month

Discover how this couple grew their portfolio with PadSplit and now gross $36,000/month.

May 22, 2024

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Ray and Orianna’s journey as a couple and investors started over a decade ago when they first met working together at Calvin Klein. Their connection was cemented during their first date when Ray romanced Orianna by taking her to Taco Bell (it was love at first bite). 

Fast-forward to 2016, and the entrepreneurial spirit they shared led to the creation of their own company focused on wholesaling. They then moved on to investing in multiple rental properties, which would be the beginning of managing a lucrative portfolio. Today, they’ve purchased over $2 million worth of real estate and have a gross revenue of $36,000 each month.

Their success story isn’t just about numbers—it’s about embracing PadSplit’s mission to tackle the affordable housing crisis. For Ray and Orianna, PadSplit isn’t just a business venture—it’s a vehicle for positive change.

Moving on from Airbnb to PadSplit

After getting their start in real estate investing through wholesaling, they invested in an Airbnb rental. After the HOA shut down the rental, they were cornered into selling it, which they determined would generate more revenue than using it as a long-term rental.

After Ray was hired as an account executive for PadSplit, they quickly realized the unique potential of PadSplit’s affordable coliving model. He was able to get a firsthand look at the company’s innovative approach to providing quality housing at an accessible price point to low-income earners. Although he knew Airbnb was a sexy investment approach, PadSplit would deliver long-term sustainable revenue while making an impact in the local community.

“PadSplit is what would take us to the next level,” Ray says. 

In 2022, Orianna joined Ray at PadSplit as an account executive in Florida after Ray urged her to apply for the position. They began investing in PadSplits in Jacksonville and Orlando, Florida. All of their properties are operated by property management companies, which provides them with the bandwidth to continue growing their portfolio and servicing other hosts. Today, their portfolio consists of seven PadSplit homes with 47 doors.

They remain committed to being bullish with PadSplit and intend to take out a HELOC against their house this year to purchase five additional PadSplits. 

Generating $8,000+/month on one PadSplit

One of Ray and Orianna’s top-performing properties is an 8-bedroom PadSplit home in an upscale area of Jacksonville that generates over $8,000 in revenue each month. They’ve discovered that conversions of traditional single-family homes into multiple rental rooms can unlock incredible cash flow, even from relatively modest properties.

“Square footage isn’t the main feature that determines if a property will work; it’s about the layout,” advises Ray. They transformed a 1,200-square-foot home into a 6-bedroom, 3-bath PadSplit, netting $3,200 per month.

Providing affordable housing provides a sense of purpose

In addition to the financial rewards, Ray and Orianna feel a strong sense of purpose from investing in a model that increases access to affordable housing. 

“For all the investment properties I sold, none of those things helped a market or helped a community,” says Ray. Now, being able to provide housing where you’re providing community within a single-family home feels rewarding.”

Growing their portfolio with additional PadSplits

Looking ahead, the couple has bold ambitions for their PadSplit investment portfolio and sees incredible potential for the company’s future growth across the nation. 

“I have this vision for PadSplit in the next five to ten years: We’ll be recognized as a brand and a product. When you think of Kleenex, you think of the brand and the product. I see PadSplit accomplishing the same thing where it’s recognized everywhere,” says Orianna.

With their complementary careers at the company and a rapidly expanding investment portfolio, Ray and Orianna are living examples of how PadSplit can provide a path to profit while also embracing a higher purpose.  

“We love PadSplit! It’s a win-win. It’s truly do well and do good,” says Orianna.

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