Mike O. knows every angle of the real estate business.
He is the owner of PPS, an Atlanta-based property management firm specializing in single family and multi-family management, as well as a flooring company that operates in the home renovation business. Under Mike’s direction, PPS manages around 600 units.
In 2018, Mike got introduced to PadSplit through industry connections and immediately saw a unique opportunity.
“PadSplit is a cool concept. The company’s mission to leverage housing as a vehicle for financial independence is a great one, and it provides a valuable opportunity from the management perspective to increase cash flow. After an initial lunch with the team where I learned more, we jumped right in,” he says.
Since that initial introduction, Mike has worked on three different properties with PadSplit. Overall, Mike describes the onboarding process for new properties, including getting them listed online through the PadSplit platform and working with the PadSplit team on any ongoing needs, as a smooth one for his team.
“But it’s definitely something worth doing — the cash flow from PadSplit beats putting capital anywhere else from a real estate perspective.”
And the results have proven well worth it, as Mike reports that PadSplit offers the best cash flow for properties based on his experience. He shares: “The best thing about PadSplit is the cash flow, which has far and away been better pound-for-pound than anything else that I’ve experienced. It’s just fantastic.”
Based on this success, Mike has referred several other property managers to PadSplit and has even explored opportunities to expand his work with PadSplit beyond the metro Atlanta area. Along the way, he does note the importance of working closely within city ordinances due to the unique nature of PadSplit’s shared housing model.
On a whole, Mike recommends PadSplit to increase cash flow from properties and shares advice for any property owners considering working with PadSplit: “If you’re just getting started, I definitely recommend a more transitional neighborhood and working with an eight bedroom, two bathroom or larger. But it’s definitely something worth doing — the cash flow from PadSplit beats putting capital anywhere else from a real estate perspective.”