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Founder and CEO of PadSplit, Atticus LaBlanc, is in the studio for this episode of Atlanta Real Estate Forum Radio. Joined by host Todd Schnick, the two discuss the current problems in today’s housing market and how PadSplit is helping to combat them through affordable housing options.
Atticus has worked in the real estate industry on both the commercial and residential sides for the entirety of his career. With a mission to create a legacy for good in the world, he used his experience as an entrepreneur, real estate investor and property manager to start PadSplit three years ago. Its mission is to help solve the affordable housing crisis.
PadSplit believes those who serve our communities should have the opportunity to affordably live within them. The company serves as a shared housing marketplace between those in need of affordable housing options and housing providers. Some of these housing providers are homeowners with spare rooms, while others are investors who have rental properties. The company takes all the work out of the process for the housing providers by taking care of the day-to-day property management tasks including collections and payment processing, resident relations and more.
The COVID-19 pandemic has further pulled back the curtain on the affordable housing crisis as the country faces mounting job losses and financial insecurity. Many of the professionals that serve our communities don’t have the stability in their housing to afford disruptions to their income or work environment. Over the course of the pandemic, it has become apparent that affordable options aren’t widely available in many communities. Luckily, this sudden realization is slowly turning into a rise for change.
Despite the challenges the pandemic has brought to the housing market, there has been an increased sense of community surrounding the company. According to Atticus, the pandemic has brought in many new housing providers. In today’s market, there is not a huge demand for investors to buy. Instead, they are opting to rent out their current properties in order to not only get the best possible return but to help out those within the community during these difficult times.
Along with the services above, PadSplit recently launched a new partnership initiative. Called Starting Point, the program allows nonprofits who work with vulnerable populations to access PadSplit rooms through a streamlined experience. The nonprofit partner effectively underwrites the cost of housing for up to 12 months in order to give these individuals a place to stay as they work toward greater financial independence.
As the company grows, PadSplit hopes to continue educating communities on how affordable housing is within everyone’s best interest, as well as to provide affordable housing to brand-new housing markets in the near future.
For those looking for housing, interested in providing housing, or simply want to learn more, visit www.PadSplit.com.
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Georgia Residential Mortgage Licensee, License #22564. NMLS ID #6606. Subject to borrower and property qualifications. Not all applicants will qualify. New American Funding and PadSplit are not associated. Click here to view the terms and conditions of products mentioned during the show. Corporate office 14511 Myford Rd., Suite 100, Tustin, CA 92780. Phone: (800) 450-2010. (August/2020)
New American Funding is a family-owned mortgage lender with a servicing portfolio of over 123,000 loans for $30.4 billion, 198 branches, and about 3,100 employees. The company offers several niche loan products and has made Inc. 5000’s list of Fastest-Growing Companies in America six times. It has a state-of-the-art career training facility and develops innovative technology, including the GoGo LO mobile application. For more information, visit www.branch.newamericanfunding.com/Atlanta.
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