Streams to Impact
REIA 83 Atticus LeBlanc: Yes, You Can Actually Do Well & Do Good With Real Estate Investing
Dec 16, 2021
Season 1
Episode 82
Atticus LeBlanc
We'd love to hear from you. What are your thoughts and questions?
Atticus LeBlanc is the founder and CEO of PadSplit, a mission-driven company that helps solve the affordable housing crisis, one room at a time. Through its innovative shared-housing model, PadSplit aligns incentives between cities, nonprofits, and property owners to spur cost-effective housing creation without public subsidy, all while providing safe and affordable housing for working-class individuals.
Main Points:
- Founded in 2017 and headquartered in Atlanta, PadSplit provides shared housing – a “PadSplit” – with private, furnished bedrooms and fixed utility costs, as well as access to 24/7 telehealth, credit repair, and job matching services so workers can obtain safe, clean, and affordable housing. Each PadSplit home meets specific design guidelines that exceed HUD standards, and members must pass a criminal background check and screening process to qualify.
- PadSplit homes meet specific design guidelines, What are the specification? What is the average cost of upgrades for a typical single family rental?
- Your tenant applicant approval criteria is not the same as most conventional rentals. What is your approval criteria and how extensive is the background check?
- PadSplit also increases yield by more than 100 percent for single- and multi-family property owners. The company serves as a resident manager for all of its units — including homes it does not own — handling the marketing, application, screening process, payment processing, and a peer review system. These services allow property owners to focus on increasing their supply of profitable workforce housing and less on managing day-to-day interactions with residents.
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