Register for an upcoming workshop today if you want to protect your business and personal assets from snoopy lawyers and creditors. Save Your Seat: aba.link/a2e394
Just got off the phone with a rude PadSplit rep named Jamar. He contradicted the CEO, said they DO NOT do owner occupied properties. We have a triplex and currently rent mid-term, but he said this does not even fit their profile. I literally engaged PadSplit because this video outright described exactly what we do in this property. Disappointed in the waste of time. He also literally said to go to Airbnb or Furnished Finder instead! 😂 CEO Aticus, you may want to be sure your reps match what you say or vice versa!
We apologize for the incorrect information previously provided. Our platform currently allows owner-occupied properties. Our team is happy to assist you and provide more information.
I'm so interested in HOW you are doing this profitably? I do this for professionals and in the last year, "professionals" have caused so much damage to the furnishings that it has eliminated so much profitability. You cannot deny that you are also responsible to house everyone if they cause a fire or other damage. You are now responsible for all of the utilities. HOW do you vet someone well? There is a good reason why many people are "unhoused."
Worth a longer convo with a sales rep or even one of the 1500 hosts on the platform. I've been doing it profitably since 2009, and have been building new construction for this model for the last 3 years.
What are the steps of converting a SFH into a co-living space? Does Padsplit help in anyway by providing referrals to general contractors, handymen, etc. to start converting those homes into a more cohesive co-living model?
Yes, we have a large referral network and are happy to provide referrals in your local area to ensure you can quickly convert your property into a coliving home.
We keep a legal team on staff that can refer hosts to local attorneys in many areas who have been briefed on the constitutional and fair housing issues that some local zoning issues run afoul of.
@@atticusleblanc3806 Thank you. I have a lot of RE professionals as clients. They are always looking for something/hack. I will bring this up. Thanks to you and Toby for all the help.
Permit requirements vary by city and primarily focus on home construction rather than the coliving model. Your contractor should be able to assist you with the specifics in your local area.
A friend of mine purchased 2 SFR properties and rented them both by the room for about 4 years. My friend recently turned them both to LTR and says they are done with rent by the room and have no plans to ever do that again.
As a fourth generation commercial real estate person, this video is raising eyebrows. When you’re talking about real estate, you need to tell us what city and state you are in. Furthermore when you have multiple tenants, you have multiple problems.
You mentioned about a property in India. How does Anderson advisors help with property in countries like India. How do you structure it with US portfolio and ongoing management.
Many of the buildings in NYC were built on a similar model. They were called single room Occupancy (SRO) or, in the vernacular flophouses. You can see the vestiges in the beautiful historic brownstones. Statutes moved away from this housing model but a few remain. Very difficult to manage and maintain. Too many personalities in close proximity.
@@chris2884 there is a difference between SRO, boarding homes, sober living homes and Padsplit homes. I’m curious how many who think it’s a nightmare to manage has experience with this coliving model versus Imaging assumptions. I once thought same thing until I walked a property a buddy was doing on Padsplit. Since then we have jumped in buikding our 4th building designed with coliving in mind.
Agree, here in Washington the legislature passed legislation to incentivize ADUs and DADUs. I think that's a great way to keep your primary home and also bring in some rental income as well.
Hello, you can access your complimentary Infinity Book here inf.link/rjk. Additionally, we offer a free workshop that covers tax and asset protection strategies; you can learn more about it here aba.link/d0038c
I know most homeowners would not care about neighbors. splitting the home into multiple tenants which means some of the tenants will likely have a car to get around. This means some of these cars will be parked on the street limits parking spaces. San Francisco had this issue for a long time, a lot of the single-family home has approx 2-4 families and each one has a car parking on the street (the garage also turned into a living space).
Only $1K to turn a bedroom all in? Really? My Sealy mattresses are $600 with bulk purchase. Used bedroom set is another $500. Area rug $80. Bedbug cover on bed $25. Mattress pad $30; comforter $40. Sheet set $40. Pillows $15. This doesn't even cover cleaning, painting, blackout curtains, etc. One renter with bad hygiene ruined all of these so that the smell didn't come out of anything. To be fair, most people won't ruin everything, but to say that they won't do damage to the commons area is just untrue.
@@Unsilentmajority-1it’s similar to any other group of people. Probably 80/20 in terms of good residents. Maybe higher depending on your definition. Average cost to turn a room from one to the next is around $80, so damage is actually way less frequent than in traditional rentals. Partly because there are usually good tenants sharing the space and partly because there are much fewer surprises when you send a cleaner 2x per month.
Hello, you can access your complimentary Infinity Book here inf.link/rjk. Additionally, we offer a free workshop that covers tax and asset protection strategies; you can learn more about it here aba.link/d0038c
Who does the dishes and cleans the living room, carpet. What about pets. Joe has a dog bev has a cat! Then you have a variety of mental illnesses and people allergic to other people’s fragrances…. And on and on nuance nightmares unfolding
That sounds like a great idea. Have different groups of people living in one dwelling. I dont think there would be any domestic violence or issues like that.
Hello, you can access your complimentary Infinity Book here inf.link/rjk. Additionally, we offer a free workshop that covers tax and asset protection strategies; you can learn more about it here aba.link/d0038c
Hello, you can access your complimentary Infinity Book here inf.link/rjk. Additionally, we offer a free workshop that covers tax and asset protection strategies; you can learn more about it here aba.link/d0038c
this is the dumbest mistake you can make in real estate. You’re dealing with very unstable people unless you get lucky and you hook up with a mother and the kids that need a place to stay and she’s a good person and doesn’t destroy your house but when you deal with this and use, most of the people have mental problems, drug problems is that your house will get destroyed, and then they will not leave. Do not do this. I don’t know why you would recommend us just to load your credibility down to the lowest person on the Internet and I always watched you and always respected you back after this. This is just crazy. I don’t know if you’re on drugs or drunk or someone’s paying you to say this stuff.
Sounds like it's not for you, and that's ok. But Toby has his own properties operating successfully on Padsplit, and I've been doing it profitably for 16 years while also seeing folks transform their lives. To each their own.
Hello, you can access your complimentary Infinity Book here inf.link/rjk. Additionally, we offer a free workshop that covers tax and asset protection strategies; you can learn more about it here aba.link/d0038c
Hello, you can access your complimentary Infinity Book here inf.link/rjk. Additionally, we offer a free workshop that covers tax and asset protection strategies; you can learn more about it here aba.link/d0038c
Hello, you can access your complimentary Infinity Book here inf.link/rjk. Additionally, we offer a free workshop that covers tax and asset protection strategies; you can learn more about it here aba.link/d0038c
Hello, you can access your complimentary Infinity Book here inf.link/6ab9bc. Additionally, we offer a free workshop that covers tax and asset protection strategies; you can learn more about it here aba.link/rr7.
I be to afraid that a resident would go crazy with a ball peen hammer and somehow I’d be responsible for renting a room to him. Great idea in theory but the litigation may cost to much to bare. No good deed goes unpunished.
Lol.....ONE PERCENT for monthly rental saving?! "$330 saved/mo."....on a $30,000/yr. salary. Am I missing something here? That's kinda PEANUTS. Both amounts.
Hello, you can access your complimentary Infinity Book here inf.link/rjk. Additionally, we offer a free workshop that covers tax and asset protection strategies; you can learn more about it here aba.link/d0038c
Hello, you can access your complimentary Infinity Book here inf.link/rjk. Additionally, we offer a free workshop that covers tax and asset protection strategies; you can learn more about it here aba.link/d0038c
Hello, you can access your complimentary Infinity Book here inf.link/rjk. Additionally, we offer a free workshop that covers tax and asset protection strategies; you can learn more about it here aba.link/d0038c
Hello, you can access your complimentary Infinity Book here inf.link/rjk. Additionally, we offer a free workshop that covers tax and asset protection strategies; you can learn more about it here aba.link/d0038c
Hello, you can access your complimentary Infinity Book here inf.link/rjk. Additionally, we offer a free workshop that covers tax and asset protection strategies; you can learn more about it here aba.link/d0038c
Hello, you can access your complimentary Infinity Book here inf.link/rjk. Additionally, we offer a free workshop that covers tax and asset protection strategies; you can learn more about it here aba.link/d0038c
Hello, you can access your complimentary Infinity Book here inf.link/rjk. Additionally, we offer a free workshop that covers tax and asset protection strategies; you can learn more about it here aba.link/d0038c
Hello, you can access your complimentary Infinity Book here inf.link/rjk. Additionally, we offer a free workshop that covers tax and asset protection strategies; you can learn more about it here aba.link/d0038c
Hello, you can access your complimentary Infinity Book here inf.link/rjk. Additionally, we offer a free workshop that covers tax and asset protection strategies; you can learn more about it here aba.link/d0038c
Hello, you can access your complimentary Infinity Book here inf.link/rjk. Additionally, we offer a free workshop that covers tax and asset protection strategies; you can learn more about it here aba.link/d0038c
Hello, you can access your complimentary Infinity Book here inf.link/rjk. Additionally, we offer a free workshop that covers tax and asset protection strategies; you can learn more about it here aba.link/d0038c
Hello, you can access your complimentary Infinity Book here inf.link/6ab9bc. Additionally, we offer a free workshop that covers tax and asset protection strategies; you can learn more about it here aba.link/rr7.
Hello, you can access your complimentary Infinity Book here inf.link/6ab9bc. Additionally, we offer a free workshop that covers tax and asset protection strategies; you can learn more about it here aba.link/rr7.
Hello, you can access your complimentary Infinity Book here inf.link/6ab9bc. Additionally, we offer a free workshop that covers tax and asset protection strategies; you can learn more about it here aba.link/rr7.
Hello, you can access your complimentary Infinity Book here inf.link/6ab9bc. Additionally, we offer a free workshop that covers tax and asset protection strategies; you can learn more about it here aba.link/rr7.
Hello, you can access your complimentary Infinity Book here inf.link/6ab9bc. Additionally, we offer a free workshop that covers tax and asset protection strategies; you can learn more about it here aba.link/rr7.
Register for an upcoming workshop today if you want to protect your business and personal assets from snoopy lawyers and creditors. Save Your Seat: aba.link/a2e394
Just got off the phone with a rude PadSplit rep named Jamar. He contradicted the CEO, said they DO NOT do owner occupied properties. We have a triplex and currently rent mid-term, but he said this does not even fit their profile. I literally engaged PadSplit because this video outright described exactly what we do in this property. Disappointed in the waste of time. He also literally said to go to Airbnb or Furnished Finder instead! 😂 CEO Aticus, you may want to be sure your reps match what you say or vice versa!
We apologize for the incorrect information previously provided. Our platform currently allows owner-occupied properties. Our team is happy to assist you and provide more information.
O O….someone will be looking for a job
I'm so interested in HOW you are doing this profitably? I do this for professionals and in the last year, "professionals" have caused so much damage to the furnishings that it has eliminated so much profitability. You cannot deny that you are also responsible to house everyone if they cause a fire or other damage. You are now responsible for all of the utilities. HOW do you vet someone well? There is a good reason why many people are "unhoused."
Worth a longer convo with a sales rep or even one of the 1500 hosts on the platform. I've been doing it profitably since 2009, and have been building new construction for this model for the last 3 years.
Free book
What are the steps of converting a SFH into a co-living space? Does Padsplit help in anyway by providing referrals to general contractors, handymen, etc. to start converting those homes into a more cohesive co-living model?
Yes, we have a large referral network and are happy to provide referrals in your local area to ensure you can quickly convert your property into a coliving home.
Awesome information Toby...thanks!
Yes, be prepared for the real estate to be very active participation income. It does make more, but it is a LOT more work than you think.
Noothing passive doing this
how about zoning issues? Does tis service help get past any local hurtles?
We keep a legal team on staff that can refer hosts to local attorneys in many areas who have been briefed on the constitutional and fair housing issues that some local zoning issues run afoul of.
@@atticusleblanc3806 Thank you. I have a lot of RE professionals as clients. They are always looking for something/hack. I will bring this up. Thanks to you and Toby for all the help.
This is a great idea for tenants and landlords. Btw the English and other Europeans have been doing this for many decades in urban centres especially
Who's responsible for cleaning the common areas? I suppose that's detailed in the lease/house rules?
Hello Toby - i'm enjoying the content. I'm wondering what type of Permit(s) would be required in order to run the PadSplit Model?
Permit requirements vary by city and primarily focus on home construction rather than the coliving model. Your contractor should be able to assist you with the specifics in your local area.
A friend of mine purchased 2 SFR properties and rented them both by the room for about 4 years. My friend recently turned them both to LTR and says they are done with rent by the room and have no plans to ever do that again.
Do counties allow to convert single family houses into shared housing ? I received a push back from the county in GA
Sounds great, I’ve been working on that concept but still have a little more work to do. Thanks for the share
As a fourth generation commercial real estate person, this video is raising eyebrows. When you’re talking about real estate, you need to tell us what city and state you are in. Furthermore when you have multiple tenants, you have multiple problems.
You mentioned about a property in India. How does Anderson advisors help with property in countries like India. How do you structure it with US portfolio and ongoing management.
He said Indiana.
This sounds like a management nightmare
It is!
From a management time perspective, it's generally more than a single family rental home, but less than a short term rental.
It’s not that bad. It is not passive but if you have a property in good shape, vet the people you will be good. We have 24 rooms currently
Many of the buildings in NYC were built on a similar model. They were called single room Occupancy (SRO) or, in the vernacular flophouses. You can see the vestiges in the beautiful historic brownstones. Statutes moved away from this housing model but a few remain. Very difficult to manage and maintain. Too many personalities in close proximity.
@@chris2884 there is a difference between SRO, boarding homes, sober living homes and Padsplit homes. I’m curious how many who think it’s a nightmare to manage has experience with this coliving model versus
Imaging assumptions. I once thought same thing until I walked a property a buddy was doing on Padsplit. Since then we have jumped in buikding our 4th building designed with coliving in mind.
Agree, here in Washington the legislature passed legislation to incentivize ADUs and DADUs. I think that's a great way to keep your primary home and also bring in some rental income as well.
Free book. Thank you.
Hello, you can access your complimentary Infinity Book here inf.link/rjk. Additionally, we offer a free workshop that covers tax and asset protection strategies; you can learn more about it here aba.link/d0038c
I know most homeowners would not care about neighbors. splitting the home into multiple tenants which means some of the tenants will likely have a car to get around. This means some of these cars will be parked on the street limits parking spaces. San Francisco had this issue for a long time, a lot of the single-family home has approx 2-4 families and each one has a car parking on the street (the garage also turned into a living space).
average rate of car ownership is 46%. So 6 rooms is fewer than 3 cars... less than many owner-occupied homes.
Many States and local Municipalities do not allow this type of rentals.
Interesting strategy, but I'd rather be selling volatility on these kinds of real estate plays rather than tying up capital in properties.
What could go wrong?
I think you’re fine. As long as there is no Harbor Freight across the street where you can buy axes, crow bars and ball peen hammers.
Only $1K to turn a bedroom all in? Really? My Sealy mattresses are $600 with bulk purchase. Used bedroom set is another $500. Area rug $80. Bedbug cover on bed $25. Mattress pad $30; comforter $40. Sheet set $40. Pillows $15. This doesn't even cover cleaning, painting, blackout curtains, etc. One renter with bad hygiene ruined all of these so that the smell didn't come out of anything. To be fair, most people won't ruin everything, but to say that they won't do damage to the commons area is just untrue.
The type of tenants that rent rooms by the week are going to do some serious damage They have no skin in the game
You're talking about 40% of the population. Think about teachers, security guards, the front desk agent at a hotel, any TSA agent at any airport...
Yeah I am. What % of people would you say make great tenants… they’ll treat it like it’s their own?
@@Unsilentmajority-1it’s similar to any other group of people. Probably 80/20 in terms of good residents. Maybe higher depending on your definition. Average cost to turn a room from one to the next is around $80, so damage is actually way less frequent than in traditional rentals. Partly because there are usually good tenants sharing the space and partly because there are much fewer surprises when you send a cleaner 2x per month.
Free book, please 🙏
Hello, you can access your complimentary Infinity Book here inf.link/rjk. Additionally, we offer a free workshop that covers tax and asset protection strategies; you can learn more about it here aba.link/d0038c
Thanks for your content, Crypto ETFs
approval have been a blessing to us buddy,
I was able to build my portfolio to $56k in
30days, I feel blessed🤗
My house hacked my first property in Los Angeles. I have some horror stories.
Who does the dishes and cleans the living room, carpet. What about pets. Joe has a dog bev has a cat! Then you have a variety of mental illnesses and people allergic to other people’s fragrances…. And on and on nuance nightmares unfolding
That sounds like a great idea. Have different groups of people living in one dwelling. I dont think there would be any domestic violence or issues like that.
Free book.
Hello, you can access your complimentary Infinity Book here inf.link/rjk. Additionally, we offer a free workshop that covers tax and asset protection strategies; you can learn more about it here aba.link/d0038c
Running a rooming house just changing the name…
I am not hearing how the returns make this worthwhile.
Free Book
Please
Hello, you can access your complimentary Infinity Book here inf.link/rjk. Additionally, we offer a free workshop that covers tax and asset protection strategies; you can learn more about it here aba.link/d0038c
this is the dumbest mistake you can make in real estate. You’re dealing with very unstable people unless you get lucky and you hook up with a mother and the kids that need a place to stay and she’s a good person and doesn’t destroy your house but when you deal with this and use, most of the people have mental problems, drug problems is that your house will get destroyed, and then they will not leave. Do not do this. I don’t know why you would recommend us just to load your credibility down to the lowest person on the Internet and I always watched you and always respected you back after this. This is just crazy. I don’t know if you’re on drugs or drunk or someone’s paying you to say this stuff.
Sounds like it's not for you, and that's ok. But Toby has his own properties operating successfully on Padsplit, and I've been doing it profitably for 16 years while also seeing folks transform their lives. To each their own.
Free Book.
Hello, you can access your complimentary Infinity Book here inf.link/rjk. Additionally, we offer a free workshop that covers tax and asset protection strategies; you can learn more about it here aba.link/d0038c
free book
Hello, you can access your complimentary Infinity Book here inf.link/rjk. Additionally, we offer a free workshop that covers tax and asset protection strategies; you can learn more about it here aba.link/d0038c
Free book
Hello, you can access your complimentary Infinity Book here inf.link/rjk. Additionally, we offer a free workshop that covers tax and asset protection strategies; you can learn more about it here aba.link/d0038c
FREE BOOK
Hello, you can access your complimentary Infinity Book here inf.link/6ab9bc. Additionally, we offer a free workshop that covers tax and asset protection strategies; you can learn more about it here aba.link/rr7.
I be to afraid that a resident would go crazy with a ball peen hammer and somehow I’d be responsible for renting a room to him. Great idea in theory but the litigation may cost to much to bare. No good deed goes unpunished.
Ok you’re now running a hotel
That's literally what this is just a hotel without the room service
Lol.....ONE PERCENT for monthly rental saving?! "$330 saved/mo."....on a $30,000/yr. salary. Am I missing something here? That's kinda PEANUTS. Both amounts.
Sorry, your math is off.... 330/mo x 12 months = $3,960. That's a savings rate of 13.2% on a $30k income
This is not a new idea. Boarding houses have always existed.
Bingo! Except without Ma Barker.
Worst tenants , slow pay and high turnover rate.
This sounds like a nightmare. Carry on with your nightmare buddy
RE is dead, BTC is vastly superior property
Imagine the democrats saying someone is giving the president elect ideas and telling him what to do. You really can't make this stuff up.
Free book
Hello, you can access your complimentary Infinity Book here inf.link/rjk. Additionally, we offer a free workshop that covers tax and asset protection strategies; you can learn more about it here aba.link/d0038c
Free book
Hello, you can access your complimentary Infinity Book here inf.link/rjk. Additionally, we offer a free workshop that covers tax and asset protection strategies; you can learn more about it here aba.link/d0038c
Free book
Hello, you can access your complimentary Infinity Book here inf.link/rjk. Additionally, we offer a free workshop that covers tax and asset protection strategies; you can learn more about it here aba.link/d0038c
Free book
Hello, you can access your complimentary Infinity Book here inf.link/rjk. Additionally, we offer a free workshop that covers tax and asset protection strategies; you can learn more about it here aba.link/d0038c
Free book
Hello, you can access your complimentary Infinity Book here inf.link/rjk. Additionally, we offer a free workshop that covers tax and asset protection strategies; you can learn more about it here aba.link/d0038c
Free book
Hello, you can access your complimentary Infinity Book here inf.link/rjk. Additionally, we offer a free workshop that covers tax and asset protection strategies; you can learn more about it here aba.link/d0038c
Free book
Hello, you can access your complimentary Infinity Book here inf.link/rjk. Additionally, we offer a free workshop that covers tax and asset protection strategies; you can learn more about it here aba.link/d0038c
Free book
Hello, you can access your complimentary Infinity Book here inf.link/rjk. Additionally, we offer a free workshop that covers tax and asset protection strategies; you can learn more about it here aba.link/d0038c
Free book
Hello, you can access your complimentary Infinity Book here inf.link/rjk. Additionally, we offer a free workshop that covers tax and asset protection strategies; you can learn more about it here aba.link/d0038c
Free book
Hello, you can access your complimentary Infinity Book here inf.link/rjk. Additionally, we offer a free workshop that covers tax and asset protection strategies; you can learn more about it here aba.link/d0038c
Free book
Hello, you can access your complimentary Infinity Book here inf.link/rjk. Additionally, we offer a free workshop that covers tax and asset protection strategies; you can learn more about it here aba.link/d0038c
Free book
Hello, you can access your complimentary Infinity Book here inf.link/6ab9bc. Additionally, we offer a free workshop that covers tax and asset protection strategies; you can learn more about it here aba.link/rr7.
Free book
Hello, you can access your complimentary Infinity Book here inf.link/6ab9bc. Additionally, we offer a free workshop that covers tax and asset protection strategies; you can learn more about it here aba.link/rr7.
Free book
Hello, you can access your complimentary Infinity Book here inf.link/6ab9bc. Additionally, we offer a free workshop that covers tax and asset protection strategies; you can learn more about it here aba.link/rr7.
Free book
Hello, you can access your complimentary Infinity Book here inf.link/6ab9bc. Additionally, we offer a free workshop that covers tax and asset protection strategies; you can learn more about it here aba.link/rr7.
Free book
Hello, you can access your complimentary Infinity Book here inf.link/6ab9bc. Additionally, we offer a free workshop that covers tax and asset protection strategies; you can learn more about it here aba.link/rr7.
Free book
Free book