Private Money Lending (PML)
- Participate in debt notes secured by real estate assets, including PadSplit shared housing properties
- Fixed 15% per annum return with monthly simple interest distribution
- No ramp-up delay in interest or monthly payments
- No hidden fees or expenses (15% return = 15% return)
- Only 90-day redemption notice required
- Proven team with unrivaled PadSplit experience
PML Documentation
The investment will be documented with:
- Promissory note
- Deed of Trust - 2nd position (for investments of $50k+)
- Personal guarantee (if applicable)
Investors will receive a 1099-INT annually
The investment minimum is $10,000*
What is PadSplit?
Founded 2017, now largest online shared housing marketplace
- 19+ core markets, 10,900+ rooms
PadSplit hosts convert under-utilized space into additional bedrooms
- Lower housing costs for members, higher earnings for hosts
PadSplit provides hosts:
- Paid marketing & rooms listing
- Member screening & payment collections
- Day-to-day member management
Why PadSplit properties?
Private money lended will be used for down payment, closing, and ramp-up costs for PadSplit properties
Purchasing & converting shared housing in PadSplit’s core markets generates strong multi-family returns from single family housing
These proven returns provides ability to pay 15% on PML and retain a strong return
Current owned PadSplit - Atlanta metro area
Purchased Sept 2023 for $270k
$30k & 1 mth labor to convert from 4BD/3BA to 9BD/3BA => Active on PadSplit Oct 31st
All in cash $120k
$195k DSCR loan @ 7.95%
Gross mthly revenue 2024: $6844
Monthly mortgage: $1772
Total mthly expenses: ~ 38% of gross revenue
Net mthly profit 2024: $2312
Meet the team
Blake Lewis
Blake Lewis
Blake Lewis
PadSplit team member since 2019
Helped PadSplit grow from 600 rooms to > 10,000
Help through every stage of the process
Connecting to vendor network across markets
Market data and analysis
Identifying properties’ PadSplit potential
Helping onboard properties to PadSplit
Tyler Floyd
Blake Lewis
Blake Lewis
VP of Construction at Mardon Construction & PadSplit property owner
Renovating PadSplit properties since early 2019
Most prolific contractor and realtor on PadSplit properties
Contractor on > 275 PadSplit properties
Realtor on > 100 PadSplit properties
Mel Whatley
Blake Lewis
Mateja Whatley, CPA
Owner/CEO, PMI Atlanta West
Property managers for 80+ PadSplit properties
Manage all on-site needs of the properties including property maintenance, cleaning, and member turnovers
Started as real estate investors first, and are current PadSplit property owners
Mateja Whatley, CPA
Mateja Whatley, CPA
Mateja Whatley, CPA
Owner/CFO, PMI Atlanta West
Property managers for 80+ PadSplit properties
Manage all on-site needs of the properties including property maintenance, cleaning, and member turnovers
Started as real estate investors first, and are current PadSplit property owners
Kevin Jolly
Mateja Whatley, CPA
Kevin Jolly
Founder of Focused Performance Capital
> 25 years of operations and analytics experience
Served as executive in multiple Fortune 500 companies, at startups, and as an independent consultant
Owner of 8 rental properties -- long-term rentals, short-term rentals, & shared housing
Manages coordination across all aspects and team members throughout process
