Chase

Chase stands out not just for his impressive portfolio but for his commitment to making a difference. With a background as a broker since 2011 and a decade-long experience as an appraiser, Chase has navigated various facets of the industry, including flips, rentals, lease-to-own, and Airbnb. However, it was his encounter with PadSplit in January 2022 that marked a turning point in his career and approach.

One of Chase’s friends from HomeVestors introduced him to PadSplit, and it instantly resonated with him. “There was something different about PadSplit as far as the relational component for me. We really enjoyed the transitional housing and helping people aspect of it,” Chase recalls. This sense of purpose and community set PadSplit apart from his other ventures.

Currently, Chase owns nine properties with 44 doors in DFW, and his first PadSplit was added in 2022. His company also manages a few PadSplits for other hosts.

Chase’s admiration for PadSplit extends to its leadership. “I think you can do any business well, but I like the leadership team at PadSplit. I think [PadSplit CEO] Atticus has the right mindset, and it’s reflected throughout the company. It’s so hard running a business with that mindset.” 

Filling a gap in society by providing transitional housing

Chase’s company manages a significant number of rental properties, yet the gratitude expressed by PadSplit members surpasses that of regular tenants. “There is a real gap in society, and being a part of that gap and offering something for people that need it is great. We’ve really enjoyed that part,” he explains.

From the outset, Chase ensures his members know they are valued. During introductory phone calls, he emphasizes, “We want to show we’re not a nameless landlord. We communicate that we want to help each member, and we’re available to assist with anything.” This personal touch opens the door to meaningful relationships and sets the tone for their stay.

Chase’s dedication goes beyond just providing housing. He finds ways to support his members, whether it’s taking them to dinner or serving as a reference for their rental applications once they’re ready to move out and live independently. He even provides temporary job opportunities when they hit hard times. “When our members move out to progress, we’re happy for them. That’s not a loss for us,” he states.

No plans to scale to ensure he can continue caring for his members

A key aspect of Chase’s approach is the frequency and authenticity of his interactions with members. “More touch points and genuine touch points is the biggest difference for us,” he notes. This philosophy has fostered a sense of community and trust among his PadSplit members.

Despite the success, Chase doesn’t plan to expand his PadSplit operations further. “I don’t have a big company, I don’t need a big company, there’s only so many people I can effectively care for. As far as my personal portfolio, we’re happy with where we’re at,” he says.

“My cash-on-cash with PadSplit is really high – that part is fantastic!”

Adhering to regulations, Chase ensures plenty of parking and avoids overcrowding by limiting the number of people per house. From an investment standpoint, PadSplit’s appeal lies in its financial viability. “If you get reasonable debt on a rental property, you don’t cash flow. You may get $50-$100/month for a lot of work, especially if the tenants are bad. But PadSplits cash flow. My cash-on-cash with PadSplit is really high – that part of it is fantastic,” Chase elaborates.

“Even if I lose hundreds of dollars because one member gets behind on their rent, we cash flow more than that in a month. That $400 is better than a normal tenant that misses one month of rent and you’re out $2,000, and you have to evict them,” he explains.

Hosting events and gatherings for his members

Chase actively fosters a sense of community by hosting events like donuts and coffee gatherings or lunches. These get-togethers, often held at his home or local eateries, allow members to connect, share stories, and build relationships. “Asking people how we can be helpful is better than my ideas,” he believes, emphasizing the importance of understanding and addressing members’ needs.

How to build trust with members

He encourages other hosts to build trust with their members. “With new relationships like this in a part of society that is in transition for one reason or another, often because they just entered a difficult period of life, we need to walk more softly as we go in to help. Because if you just make the announcement like it’s a free-for-all, only your outgoing extroverts will show up. Your introverts who may want relationships are more cautious – you have to earn their trust.”

Through his journey with PadSplit, Chase has discovered a fulfilling way to blend his expertise in real estate with a genuine passion for helping others. His approach not only provides housing but also builds communities and transforms lives, making him a standout example of what it means to be a PadSplit host.