So, a little background first. I normally charge $2,400 in rent, but with PadSplit's co-living business model, I'm expected to earn $6,000 monthly or more! That's a huge increase in revenue for me, and I'm excited to see the results.
In this video, I'm taking you on a tour of one of my properties that I bought a couple of months ago with a tenant already in place. After the tenant moved out, I knew I wanted to try out PadSplit's business model, and this property seemed like the perfect opportunity.
I invited the PadSplit team to take a look at the property and discuss the rehab process required to maximize its potential for co-living. They explained how their marketplace connects individuals in need of affordable housing with investors looking for higher returns on their properties.
By creating additional bedrooms, we can maximize the space in the property and generate a much higher return on investment. Again, instead of earning $2,400, I expect to earn up to $6,000 or even more!
Timecodes 0:00 Tenants Finally Vacated 1:05 Who is Pad Split? 1:33 Looking at the Front yard 2:35 Walk-through of the House 10:04 Process of Collecting Rent 12:11 How Does PadSplit Get Paid 12:51 What Isn't Covered 13:07 Multi-Family Returns on Single-Family Homes 16:52 Evaluating the Backyard 20:57 Increased Profit Margin