All Forum Posts by: Josh Stanton

Quote from @Gary Nakauchi:

Quote from @David Edwards:

PadSplit host in Houston here, my experience has been good thus far. Some highlights: I have 3 homes up on Platform and manage another 2 homes. The homes I own total to 24 bedrooms, 8 bedrooms per home (1 master and 7 shared bath bedrooms). The ones I manage total to 20 bedrooms.

These rooms rent for between $125 to $225 per week depending on room size and amenities in the room (beyond basic amenities may include: Desk, Tv, private entry, tenant controlled AC, additional storage).

This month after padsplit takes their 14.25% cut of the revenue I am recieving, from the units I own, $15,230 from 3 homes. After all PITI, utility, and services (lawncare and cleaning) costs I have $7,225.

I set aside 25% of this for my maintenance fund.

The remainder funds my lifestyle, wife has a Tesla, and quarterly vacations as well as business growth.

In 2023 I am tracking to build 4 duplex units designed as room rentals funded in part from a recent land sale. With this I will have an additional 8 units bringing in $20k+ in after expenses revenue.

 same response in every bp forum, copy paste. real?

PadSplit is not passive but it has been a mostly positive experience for me.

His numbers seem realistic except PadSplit fees are typically 14.75% (not 14.25%)which is a 12% platform fee and a 2.75% stripe fee to allow members to pay their rent w a credit card.

Next Saturday March 4th, I'll be teaching another seminar on everything PadSplit, hosted by Georgia Real Estate Investors Association (GaREIA) at their main office.

For those who are unfamiliar, PadSplit is an affordable housing tech startup that provides a house-sharing service for working people. PadSplit has developed a platform that aligns incentives among residents, property owners, and communities to make affordable housing possible for the private market. It makes rapidly growing affordable housing possible by making it profitable. PadSplit is rapidly growing and now is in over 9 metro areas around the country. Growing at this breakneck pace, the startup could potentially rival AirBnB as a revolution in real estate. Leveraging PadSplit as an investment strategy now could yield profits on a similar scale to the windfalls earned by early adopters of AirBnb.

I've been working with and investing on the PadSplit platform since 2017. It is my primary investing strategy and a big focus of mine as an agent. I will use these years of experience to provide an introduction to investing in PadSplits. This class will include hands-on deal analysis and a tour with a contractor to learn how to convert a home to the optimal PadSplit setup. I'll also teach you what I know about identifying the ideal property for PadSplit, refinancing, as well as strategies for flipping homes into turnkey PadSplits that command a premium on the market.

Please forward this to any folks in your network who you think may be a good fit for this class!

Key Info:

• Saturday, March 4th from 9 a.m. to 4 p.m.
• 4353 Tilly Mill Rd, Atlanta, GA 30060
• Tickets on sale here
• If you can't make this or would like to hear about future in-person or zoom classes - let me know here.

Topics:

• PadSplit and Coliving
• Finding and Setting Up PadSplits
• Analyzing Deals
• Appraisals, Financing, and Refinancing
• Property Management
• "Flipping" PadSplits
• And More!

I own 5 PadSplits and have been working with PadSplit since 2017. I'm a PadSplit focused investor/agent in Atlanta. For me it’s been one of the best ways to get positive cash flow- hands down. This is especially in a high rate/high price environment. 

I am an investor/agent and own 5 and it's my primary investment strategy. I was one of their early adopters. I'm also a REALTOR who focuses on PadSplit primarily with many clients building portfolios of these high cash-flowing properties. They are mainly in the Metro ATL are but are expanding to Louisville and Houston.

I am very happy with the performance of my portfolio - all my properties are between a 10-13% cap rate.

H. Josh Stanton

REALTOR, Investor

KW Realty Metro ATL

I am an investor/agent and own 5 and it's my primary investment strategy. I was one of their early adopters. I'm also a REALTOR who focuses on PadSplit primarily with many clients building portfolios of these high cash-flowing properties. They are mainly in the Metro ATL are but are expanding to Louisville and Houston. 

I am very happy with the performance of my portfolio - all my properties are between a 10-13% cap rate. 

H. Josh Stanton

REALTOR, Investor

KW Realty Metro ATL

I just listed this in-town turnkey rental property

• It's been recently renovated and is getting $960/mo in rent. Tenant is month-to-month.
• It's located in heart of the rapidly appreciating neighborhoods just west of downtown Atlanta. It's in an area appreciating rapidly due to how close it is to Grove Park/Westside Park (Quarry) development, West End neighborhoods, and the Westside BeltLine. I know because I live nearby (in Historic West End).
• When evaluating the awesomeness of this deal be sure to factor in the appreciation factor. This house is located in the heart of 30314 where the median sales price of single-family homes has increased 49% in the past 7-12 months (see Fannie Mae Report). I challenge you to show me a zip code with stronger appreciation. Seriously, I would like to know...
• A fully renovated house about the same size sold for $201,000 in August 3 doors north on the same street.
• Even after your mortgage payment and expenses it will cashflow over $300/month.
• I calculated the house at a 9% cap and 19% cash-on-cash return with a 20% down conventional mortgage (again check out my spreadsheet to look at my assumptions).
• The resident is getting 100% of her rent subsidized by the Atlanta Housing Authority.
• House can be sold with professional management in place as well - someone I would strongly recommend (if you need someone). She can walk you through getting set up with AHA.
• It is only available to view: Sunday, September 16th 1pm to 3pm (hosted by my colleague David Williams), and I'll be hosting an open house Tuesday, September 18th and 19th from 4pm to 6:30pm.
• This nifty 3D tour will show you the inside of the home like you are there.
• No blind offers please.
• It can be sold as a bundle with another move-in ready property, 2579 Abner Pl NW Atlanta, GA 30318 - which is vacant and on the Proctor Creek Greenway which will be listed soon at $99,900.
• If you are interested you can call or text me at 678-829-8838. Email: [email protected] or come by when the house is open Sunday, Tuesday or Wednesday (times above) and see the inside because we will reject offers if you haven't been physically inside the house. 

Thanks!

H. Josh Stanton | Real Estate Consultant, REALTOR | Keller Williams Realty Metro Atlanta

(678) 829-8838 | [email protected]

Calling all seasoned investors. Add this purpose-built triplex to you portfolio and enjoy solid returns by capitlizing on the waves of development emanating from the new BeltLine Westside Trail which just opened up in September. New restaurants, breweries and restaurants are opening up left and right. I live in this area and it is on the rapid rise. Come check it out during my open house Tuesday, November 29th from 3pm to 6pm.

Enjoy solid returns on this 10% cap turnkey triplex 2mi from the new BeltLine. 1mi from I-20 means you can get to/from this property in minutes from anywhere in the city. 4min walk from bus stop and MARTA station is 0.8mi away. Recently turned and ready to rent. Rent out at $2100/mo for 2 years and then do some simple upgrades and take it to the next level. Bottom unit occupied thru mid-December. 

Please submit your best and final offer by Wednesday, November 29th at 6pm. We will go with the best offer by Noon on Thursday, November 30th. No blind offers will be considered. 

Buyer's intown Atlanta investment experience will be weighted heavily when evaluating offers.

2216 Telhurst St SW Atlanta, GA 30310

https://www.realtor.com/realestateandhomes-detail/...

Josh Stanton

Keller Williams Realty Metro Atlanta

(678) 829-8838

[email protected]

I use mint!