Meet Art Villasana, a seasoned real estate investor and franchise owner with HomeVestors for the past eight years. While primarily focused on buying, rehabbing, and retailing houses, Art recently expanded his portfolio by becoming a PadSplit Host, achieving remarkable success in a short period.
Discovery of PadSplit
Art stumbled upon PadSplit when the company became a vendor sponsor at a HomeVesters event. Intrigued, Art delved into conversations with fellow franchisees who had experience with PadSplit. The potential for higher returns compared to traditional long-term rentals caught Art’s attention, especially as he was hesitant about the regulatory risks associated with short-term rentals.
Converting Two Rentals into PadSplit Properties
Art’s first PadSplit property was a strategic acquisition in Fort Worth, Texas. Transforming a three-bedroom, two-bath house into a six-unit, two-bath PadSplit, Art maximized the property’s potential.
His second PadSplit, located in DeSoto, Texas, was originally a two-bedroom, two-bath long-term rental. After converting it into a four-bedroom, two-bath PadSplit, Art enhanced the property’s appeal through thoughtful renovations.
Both PadSplit properties saw remarkable success, fully booked within a month. The efficient renovation process, taking two months for the Fort Worth property and 1.5 months for the DeSoto property, contributed to Art’s quick returns. This swift turnaround showcased the demand for affordable housing solutions that PadSplit provides.
“There’s not anything like PadSplit in the market,” says Art. “It’s good for both the Members and the investors.”
Unexpected Financial Gains
Art initially considered reselling his Fort Worth property after expecting a modest monthly profit of $200 each month. However, after transforming it into a PadSplit, he saw a substantial increase, earning $1,300 monthly. The second PadSplit yielded $1,100, a notable jump from the previous $600 each month in rental income. These unexpected financial gains solidified Art’s belief in the PadSplit model.
“We missed the peak period for that short-term rental, but it’s starting to lease, and I think it’s leased for two and a half weeks this month,” says Art.
Referring Other Investors to PadSplit
Impressed by his experience, Art has already referred four investors to PadSplit and remains committed to sharing his success. He believes in the unique value that PadSplit offers to both Members and investors, emphasizing its unmatched presence in the market.
Art shares insights gained from his PadSplit journey, emphasizing the importance of avoiding over-rehabilitation. He advises Hosts to ensure everything in the home works perfectly, minimizing future maintenance. Addressing common maintenance issues, Art suggests discussing lock types with existing PadSplit Hosts and providing access to mechanicals in common areas instead of in bedrooms.
Art Continues Searching for His Next PadSplit Property
Art’s success with PadSplit has fueled his enthusiasm for future projects. Actively seeking his next PadSplit conversion, Art navigates the real estate market with a keen eye for strategic acquisitions.
“I’m constantly looking for the next property I’ll convert into a PadSplit and am currently looking for a good location,” says Art.
Art Villasana’s journey as a PadSplit Host and HomeVesters franchisee showcases the potential for significant returns and success in the affordable housing market. His story serves as an inspiration for investors seeking innovative solutions and opportunities in real estate.
If you’re interested in becoming a PadSplit Host and earning an average of 2.5x more on a single-family property, reach out to PadSplit today to speak to an account executive.