All Forum Posts by: Jarrod Ochsenbein
Jarrod Ochsenbein has started 21 posts and replied 119 times.
Post: Padsplit / Co-living is treating me well so far.
- Rental Property Investor
- Oregon/Arizona
- Posts 124
- Votes 78
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!
The best thing we have seen work is to simply tell the potential members that Co-living is not for everyone up front. We explain the rules and emphasize cleanliness. "If you don't believe you can clean up after yourself this isn't the living arrangement for you"! We are also quick to request members to vacate if issues arise.
Post: Padsplit / Co-living is treating me well so far.
- Rental Property Investor
- Oregon/Arizona
- Posts 124
- Votes 78
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!
Sorry for the super late reply. I don't get on BP much. We had success with listing on Turbotenant as a 1 bed 1 bath rental with an explanation it is a room in a house for rent. The app doesn't allow rent by room, so I am sort of forcing it.
Post: Padsplit / Co-living is treating me well so far.
- Rental Property Investor
- Oregon/Arizona
- Posts 124
- Votes 78
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?
We did start using TurboTenant and Facebook market place when Padsplit couldn't seem to fill them as fast as I would like.
Post: Padsplit / Co-living is treating me well so far.
- Rental Property Investor
- Oregon/Arizona
- Posts 124
- Votes 78
Quote from @Josh Bowser:
@Jarrod Ochsenbein - 96% occupancy is insane! What market are you in? What do you think you're doing differently than other hosts that is setting you apart?
I am in the Arizona market. We are just trying to provide the best affordable housing at a great price. We do nice kitchens and stainless appliances, have cleaning service, pest control, landscaping and address any maintenance issues immediately. People really seem to like it. They get to save money on living expenses and we have a much higher yield then LTR's by far. There are several other little things during screening that help us also.
Post: DSCR for acquisition of existing PadSplit
- Rental Property Investor
- Oregon/Arizona
- Posts 124
- Votes 78
Quote from @Jean Brune:
Based on the responses, it looks like you're in good hands Bob! I would highly recommend talking to Jeff Weller at Coast 2 Coast and Fernando Corona both are also PadSplit hosts but we're some of the first expert lenders . Here's a link to both of their PadSplit stories:
Fernando: https://www.padsplit.com/stories/hosts/fernando-and-amaris-c...
Quote from @Bob Willis:
I am interested in talking to someone about the process of funding via DSCR the acquisition of a property currently being run as a PadSplit. The plan is to keep operating the property as a PadSplit post-acquisition. What kind of seasoning is generally required as it relates to the rents/revenue as it relates to servicing the note, etc...
I currently own one PadSplit (acquired via Subject-to) that has been up just over a month. And the plan is to convert an existing Airbnb I own (and have run as an Airbnb since 2019) to PadSplit. This conversion will begin at the end of the month.
I am just sharing the above to give context to my level of experience with this type of investment.
I look forward to hearing from you all.
Post: Padsplit / Co-living is treating me well so far.
- Rental Property Investor
- Oregon/Arizona
- Posts 124
- Votes 78
Hit a new high and month is still going. :)
Post: Padsplit / Co-living is treating me well so far.
- Rental Property Investor
- Oregon/Arizona
- Posts 124
- Votes 78
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.
Post: Pace Morby Mentorship
- Rental Property Investor
- Oregon/Arizona
- Posts 124
- Votes 78
Quote from @Account Closed:
Quote from @Deb S.:
Quote from @Ali Radoncic:
Quote from @Chida Truong:
Hello BP investors,
I haven't seen any recent postings about Pace Morby's Sub To Mentoship program and wanted to see if anyone can give their honest feedback about the program who's joined recently?
I noticed quite a few of the reviews were from dead accounts or 1 and done posters so I was a bit weary about the legitimacy. Being that the cost of the program is about $7800 (amount I gathered from other posts), I didn't want to to make a costly mistake. All feedback greatly appreciated.
uffffff $7,800 for info Id imagine you could get from you tube university. I understand investing in yourself, but with so much info flying around for free I wouldn't want to do it.
I didn't help your question at all, but when I saw the price tag I couldn't resist.
This is also a life time membership that doesn't expire after a few months. If you divide the cost over say 3 years (I've been in over 3 years), it's probably close to the cost of monthly subscriptions to CRMs, batch dialers, skip tracing services, etc.
It's another tool in your toolbelt that doesn't have a renewal cost!!
Just my two cents..........
What has been your experience so far?
I have done several PML deals and purchased 3 houses. I am relatively slow compared to others in the community, but I like to do the slow and steady so I don't F' up. :) To answer your question it has been AWESOME. I was really hesitant to spend the $'s, but looking back I am so glad I got out of my own way.
Post: Padsplit / Co-living is treating me well so far.
- Rental Property Investor
- Oregon/Arizona
- Posts 124
- Votes 78
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.
Post: Padsplit / Co-living is treating me well so far.
- Rental Property Investor
- Oregon/Arizona
- Posts 124
- Votes 78
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.