Finding a Property Manager for PadSplit in San Antonio

San Antonio, Texas
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Finding a Property Manager for PadSplit in San Antonio

Joe S.Pro Member
Investor · San Antonio · Member since 2020 · 3k+ posts · 3k+ votes

I have a building that I recently modeled. I’m trying to figure out what to do with the place. There are lots of options, potentially.  it has seven offices that can be used as bedrooms if a person wanted to make it a Boarding house, a pad split, or something of that nature. It’s off of a very traveled road with frontage, so it could be used for commercial or residential according to the zoning. 
I have looked into the PadSplit model and am interested, however, pad split is mainly into finding renters and not so much being there for turnovers or other things. ( At least that was my understanding.)

The representative I talk to with PadSplit, told me that some owners find an additional manager that charges them less than of a fee because they’re so little for the additional manager to actually do due to padsplit system

Has anybody dealt with this sort of thing and found an additional manager to work with on this particular model? 

P.S I even considered seeing if a sober  living operator wanted to use the building. 

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Hamp Lee IIIPro Member
Real Estate Agent · San Antonio, TX · Member since 2019 · 1k+ posts · 832 votes
2y

I have been looking to manage a sober living or transitional housing building for some time. I’ll message you to discuss further. Definitely interested!

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  • Hamp Lee IIIPro Member
    Real Estate Agent · San Antonio, TX · Member since 2019 · 1k+ posts · 832 votes
    2y

    I have been looking to manage a sober living or transitional housing building for some time. I’ll message you to discuss further. Definitely interested!

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  • Jeremy Rosen
    Property Manager · San Antonio, TX · Member since 2021 · 54 posts · 29 votes
    2y

    @Joe S., I haven’t managed a property for the padsplit model yet, however it’s interesting. Is PadSplit a company you need to work with to essentially find tenants and then they hand the boots on the ground stuff off to you? Look me up on google and let’s schedule a time to chat more about it. I currently manage 18 properties in San Antonio. “Your Home Away Management San Antonio”.

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  • Jeremy Rosen
    Property Manager · San Antonio, TX · Member since 2021 · 54 posts · 29 votes
    2y

    @Joe S. @Hamp Lee III I have a friend in Cali who’s looking to get into sober living homes as well. Happy to link you up. 

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  • Hamp Lee IIIPro Member
    Real Estate Agent · San Antonio, TX · Member since 2019 · 1k+ posts · 832 votes
    2y
    Quote from @Jeremy Rosen:

    @Joe S. @Hamp Lee III I have a friend in Cali who’s looking to get into sober living homes as well. Happy to link you up. 

    That would be great!

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  • Don KonipolBusiness Member
    Investor · The Woodlands TX / Avon, CT · Member since 2009 · 6k+ posts · 10k+ votes
    2y

    I hear of all these great profits that are being made investing in real estate that has a major “business” component, like small assisted living properties; rooming houses; sober living arrangements, etc.  Then literally hundreds of these of come across my desk seeking financing - and typically the pro forma looks great while the actual historical financials show almost no more profit than Simple long term rentals after paying management fees, higher interest rates necessary for these type properties, increased repairs and maintenance, and faster depreciation.

    There’s also a personal reason I don’t invest in these properties ( I DO finance them).  I got into real estate because I don’t want the stress and time constraints of managing PEOPLE.  So, if you got into, or want to get into real estate for a reason like mine, why would you consider a BUSINESS requiring you to be heavily into management?  

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  • Joe S.Pro Member
    OP
    Investor · San Antonio · Member since 2020 · 3k+ posts · 3k+ votes
    2y
    Quote from @Don Konipol:

    I hear of all these great profits that are being made investing in real estate that has a major “business” component, like small assisted living properties; rooming houses; sober living arrangements, etc.  Then literally hundreds of these of come across my desk seeking financing - and typically the pro forma looks great while the actual historical financials show almost no more profit than Simple long term rentals after paying management fees, higher interest rates necessary for these type properties, increased repairs and maintenance, and faster depreciation.

    There’s also a personal reason I don’t invest in these properties ( I DO finance them).  I got into real estate because I don’t want the stress and time constraints of managing PEOPLE.  So, if you got into, or want to get into real estate for a reason like mine, why would you consider a BUSINESS requiring you to be heavily into management?  

     Yeah, if I can’t see a way of making it profitable without someone else managing it then definitely doesn’t seem like a good fit. 
    i’m just exploring my options. The reasons you listed above are the reasons I did not pull the trigger on starting an assisted living facility. I do  know that I’m not the worlds best manager when it comes to hospitality services.

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