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Padsplit / Co-living is treating me well so far.
Started REI in August of '23. Purchased a test pilot home for shared housing. It was successful so I bought 2 more. I am pleased with the results so far. Using Padsplit along with FB Marketplace and Turbo Tenant for marketing. I haven't made my first payment on my 3rd house yet and super happy with the results. Thanks Tom Wheelwright for writing the book "Tax Free Wealth". I read it in April/May of '23 after the tax season and I swear if I ever meet Tom I am going to give him a big ole Kiss!!!! :)
Quote from @Jarrod Ochsenbein:
Started REI in August of '23. Purchased a test pilot home for shared housing. It was successful so I bought 2 more. I am pleased with the results so far. Using Padsplit along with FB Marketplace and Turbo Tenant for marketing. I haven't made my first payment on my 3rd house yet and super happy with the results. Thanks Tom Wheelwright for writing the book "Tax Free Wealth". I read it in April/May of '23 after the tax season and I swear if I ever meet Tom I am going to give him a big ole Kiss!!!! :)
Are you needing to use the other sources along with Pad Split to fill your properties? How long have you been working with PadSplit?
@Jarrod Ochsenbein - Great recommendations. I am having issues completing some room rentals on one of my properties. I've been using FB Marketplace. Out of all of those listing services, do you have luck with one more than another? Also, any best practices for room rentals that you recommend for screening and keeping tenants. Thanks!
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Real Estate Agent MA (#9576338)
- Candor Realty Worcester
- 857-267-6556
- [email protected]
- Podcast Guest on Show #69
Quote from @Joe S.:
Quote from @Jarrod Ochsenbein:
Started REI in August of '23. Purchased a test pilot home for shared housing. It was successful so I bought 2 more. I am pleased with the results so far. Using Padsplit along with FB Marketplace and Turbo Tenant for marketing. I haven't made my first payment on my 3rd house yet and super happy with the results. Thanks Tom Wheelwright for writing the book "Tax Free Wealth". I read it in April/May of '23 after the tax season and I swear if I ever meet Tom I am going to give him a big ole Kiss!!!! :)
Are you needing to use the other sources along with Pad Split to fill your properties? How long have you been working with PadSplit?
Yes - I am using FB Marketplace and Turbo Tenant. I have 4 or my last 9 from TurboTenant.
Quote from @Andrew Freed:
@Jarrod Ochsenbein - Great recommendations. I am having issues completing some room rentals on one of my properties. I've been using FB Marketplace. Out of all of those listing services, do you have luck with one more than another? Also, any best practices for room rentals that you recommend for screening and keeping tenants. Thanks!
Everyone says FB is best, but I have found that Turbo Tenant has been the best. I used the 30 day free thing and it was great. I will go look to see what it costs and will probably buy it. FYI - It is not setup for rent by room. I post my properties there as a 1 bedroom and when I get emails on it I have to let them know it is a room for rent. About half disappear after that and the other 1/4 are couples. So I have had many potentials and only 4 actually move in from this, but worth it in conjunction with whatever Padsplit is doing. I will say Padsplit seems to target the 80% mark and then give up and focus on other vacant properties. I don't blame them if that is true. I have 3 properties and that seems to be what I have observed at least with mine in the Phoenix Arizona market. Updated performance -
@Jarrod Ochsenbein Do you have your own landlord/maitenance workers for these properties?
How do you price out an individual room vs the entire house? My initial guess would be look at 1 bed 1 bath rentals in the area but is that the best way to estimate?
Quote from @Jarrod Ochsenbein:
Quote from @D. Dee:
@Jarrod Ochsenbein Do you have your own landlord/maitenance workers for these properties?
I self manage the maintenance out of state. I have cleaning services, handymen, plumbers and kind of an electrician I call should the properties need something.
Thanks for sharing!
Quote from @Adam DuCharme:
How do you price out an individual room vs the entire house? My initial guess would be look at 1 bed 1 bath rentals in the area but is that the best way to estimate?
I base the price on a few factors - Room size, amenities and area average rents.
We just took on a newly renovated Padsplit in Mesa right now and have full occupancy but I'm curious how Turbo Tenant compares to Padsplit pricing
Quote from @Michael Kazalas:
We just took on a newly renovated Padsplit in Mesa right now and have full occupancy but I'm curious how Turbo Tenant compares to Padsplit pricing
I used turbo tenant to get my own members for my Padsplit properties.
