How to scale and manage 100+ rentals with Padsplit specialist Mel Whatley of PMI Atlanta West

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Mel and Mateja Whatley are the owners and operators of PMI Atlanta West where they currently manage over 70+ ‪@PadSplit‬ co-living rentals and 50+ long term rentals, including some of their own personal properties!
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Mel joined the latest podcast of “Affordable Housing & Real Estate Investing” and covered the following:
1) Mel’s background and how he and Mateja got into real estate investing and property management
2) What Padsplit co-living investors can expect from weekly rental rates
3) What are the HOT areas for Padsplit rentals in the Atlanta market and its surrounding suburbs
4) Commonly overlooked factors / intangibles when it comes to investing in co-living rentals
5) How did Mel and Mateja scale their company to manage over 100+ properties!
6) Why Affordable Housing is so hard to solve for
7) How to contact Mel and Mateja and hire them for property management services!
📢 DISCLAIMER - ALL INFORMATION & DETAILS SHARED ARE MEANT TO BE FOR ENTERTAINMENT PURPOSES ONLY. THIS IS NOT LEGAL, FINANCIAL, INSURANCE, TAX, OR INVESTMENT ADVICE. THIS IS NOT A SOLICITATION FOR ANY INVESTMENTS AND SHOULD NOT BE CONSTRUED AS SUCH IN ANY FORM.
○ All investments have risks. This is not an offer to purchase securities.
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^Please support our Affordable Housing podcast by using our referral link above to get access so you can see if @PadSplit is the right platform for your co-living rental properties^
00:00 - Intro
01:17 - sample highlights
02:12 - Mel’s background and how he and Mateja got into real estate investing and property management
11:54 - Why you need to look for property managers with the investor mindset!
15:28 - What Padsplit co-living investors can expect from weekly rental rates
19:36 - How important is parking & public transportation when investing in Padsplit (co-living)?
22:15 - What are the HOT areas for Padsplit rentals in the Atlanta market and its surrounding suburbs
33:17 - How did Mel and Mateja screen tenants?
39:54 - How do you evict (bad) tenants? (Gotcha, Watchout)
51:09 - Commonly overlooked factors / intangibles when it comes to investing in co-living rentals
55:00 - How did Mel and Mateja scale their company to manage over 100+ properties!
1:01:39 - Why Affordable Housing is so hard to solve for?
1:06:37 - How to contact Mel and Mateja and hire them for property management services!

[@RJones-ht2qt]

Great interview, Kent! You asked All the questions I was thinking. ❤

[@kent_he]

Hey that is amazing to know, thank you so much for that feedback but please don’t hesitate to leave any questions here in the comments and I can include them in the next podcast I do that is Padsplit or coliving related!

[@shepthepeguy6971]

Great interview

[@kent_he]

Thank you!!! that means a lot, we appreciate your support for our Affordable Housing mission! DM me anytime on IG if you want to join our community @InvestWithKenthe

[@Palantir_Daily]

Highly doubt the returns are that of a STR

[@kent_he]

It just depends on the details, the structure of the deal, and how creative one can get. With STRs, MTRs, Co-living, or even long term rentals, we all eventually run into unexpected returns. I simply encourage folks to pursue the exit strategy that resonates with them the most, because we will encounter problems no matter what. It's about whether or not we're passionate enough to persevere and problem solve when those issues do arrive. Where are you currently investing? Would love to hear more about your story and your experiences!

[@Palantir_Daily]

@@kent_he I have 4 STRs currently. Was looking into padsplit to see how the DTI reporting worked. I have to wait two years for each property to count the revenues against the mortgage. Super interesting how they do the membership structure to avoid legal issues.
One thing that turns me off with padsplit is the encouragement to turn living rooms and other co-op spaces into rooms. Really limits the exit strategy. I can imagine those property would be hard to sell if need be

[@user-tx4hn5tj3w]

This guy is a joke Pmi does a horrible job managing properties, Kent He needes to live in a padsplit to get a true experience it is one thing to do a podcast on something and another to live the reality Mel is full of it both pmi and 2 keys are a joke

[@kent_he]

Hi there! I’m sorry to hear about your experience. Can you provide more context? I can’t relate to living in a Padsplit, my family and I first lived in a rat & cockroach infested 2 bedroom home with 9 people in total so I can relate to subpar living conditions. This is why I’m on a mission to make sure our community learn to do things the right way and provide an above average home for folks.