When U.S. Army veteran Leon Orange received a notice that his rent in Orlando would jump by $226 a month, he knew something needed to change. He had weathered small increases before — $50 here, $75 there — but this one pushed him to make a change.
At the same time, Leon was navigating job loss, rising housing costs, and the feeling that homeownership was slipping further out of reach. Like many millennials, he felt the pressure of a system that seemed stacked against first-time buyers.
But Leon had something many veterans don’t fully leverage: the VA home loan benefit. And when paired with PadSplit, it became the key to transforming his housing crisis into a long-term wealth-building strategy.
Leon’s story shows what’s possible when creativity, discipline, and the right tools come together. Every home purchase is different, and every market has its own conditions, but the fundamentals of his journey offer a roadmap that many veterans can adapt to their own situation.
Using the VA loan to get in with $0 down
Leon learned that with his VA loan, he could finance a home with a 0% down payment and flexible credit requirements.
With this tool, a single-family home became his most accessible option. And the PadSplit model, renting private bedrooms to vetted residents, made the numbers work.
So he took the leap.
Leon purchased a four-bedroom home in Orlando for roughly $350,000, with zero down. The only upfront expenses were typical buyer costs (escrow, inspections, appraisal), which he estimates totaled a few thousand dollars.
Everything beyond that, he treated as an investment in making the model work.
Turning a home into a PadSplit — and a cashflow machine
Leon converted the home into a PadSplit through a few practical steps:
- Added a fifth bedroom by enclosing the living room (approx. $3,000)
- Furnished each room with a bed, dresser, mirror, and simple decor, for about $700 per room
- Listed four rooms on PadSplit while living in the fifth himself
Within weeks, his rooms began to fill.
Leon’s monthly math (based on his market, home price, and layout)
- Room rates: $900–$1,000 per month
- Four rooms rented: ~$3,600 per month
- Mortgage: ~$2,400 per month
- Fees/utilities: ~$600 per month
- Estimated net after platform fees: $500–$600 per month
- His personal housing cost: $0
As Leon said on the podcast: “I was saving about $2,000 a month by living for free — while making about $600.”
In a city where a one-bedroom apartment often costs more than $2,000, the impact was transformative.
From stability to opportunity — building a second home and a business
With his living expenses erased, Leon finally had breathing room. He saved more. He budgeted with purpose. He started planning for the future instead of reacting to the present.
Within two years, he:
- Purchased a second PadSplit home, also using the VA loan
- Built a portfolio totaling 10 rooms
- Opened his own business: OIM Creative Studio, a photography and film company
- Built significant equity in both homes
This wasn’t luck. This wasn’t generational wealth. This was a strategy.
What Leon’s story shows about VA loans and house hacking
Leon’s path worked because he was willing to:
- Use his VA loan benefit
- Live with roommates temporarily
- Add value to the home
- Approach homeownership differently than previous generations
But more broadly, his story shows a few things that matter for veterans everywhere:
1. You don’t need a massive down payment to buy a home. The VA loan removes one of the biggest barriers to entry.
2. Living with roommates for a few years can eliminate your largest expense. House hacking is powerful — and often temporary.
3. PadSplit can turn a primary residence into a wealth-building tool. High occupancy and predictable room-by-room income can offset mortgage costs.
4. Equity builds quietly in the background. While Leon lived rent-free, his homes were appreciating, and his loan balance was shrinking.
5. Even in expensive markets, creative models can make ownership possible. The American Dream isn’t dead — it’s just different now.
Want to learn how PadSplit can help you unlock homeownership and cash flow using the VA loan?
Visit PadSplit.com/host to explore how to get started.
🎧 Listen to the full conversation with Leon on One Room at a Time: padsplit.com/podcast.
📺 Watch the episode on YouTube.
