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REIA 83 Atticus LeBlanc: Yes, You Can Actually Do Well & Do Good With Real Estate Investing

Atticus LeBlanc is the founder and CEO of PadSplit, a mission-driven company that helps solve the affordable housing crisis, one room at a time. Through its innovative shared-housing model, PadSplit aligns incentives between cities, nonprofits, and property owners to spur cost-effective housing creation without public subsidy, all while providing safe and affordable housing for working-class individuals.

Main Points:

  • Founded in 2017 and headquartered in Atlanta, PadSplit provides shared housing – a “PadSplit” – with private, furnished bedrooms and fixed utility costs, as well as access to 24/7 telehealth, credit repair, and job matching services so workers can obtain safe, clean, and affordable housing. Each PadSplit home meets specific design guidelines that exceed HUD standards, and members must pass a criminal background check and screening process to qualify.
  • PadSplit homes meet specific design guidelines, What are the specification?  What is the average cost of upgrades for a typical single family rental?
  • Your tenant applicant approval criteria is not the same as most conventional rentals.  What is your approval criteria and how extensive is the background check?
  • PadSplit also increases yield by more than 100 percent for single- and multi-family property owners. The company serves as a resident manager for all of its units — including homes it does not own — handling the marketing, application, screening process, payment processing, and a peer review system. These services allow property owners to focus on increasing their supply of profitable workforce housing and less on managing day-to-day interactions with residents.

Connect with Atticus:

Listen to the podcast here or on your favorite podcast app:

Watch the Episode here:

Biography of Atticus LeBlanc:

Atticus is the founder and CEO of PadSplit, a mission-driven company that helps solve the affordable housing crisis, one room at a time. Through its innovative shared-housing model, PadSplit aligns incentives between cities, nonprofits, and property owners to spur cost-effective housing creation without public subsidy, all while providing safe and affordable housing for working-class individuals.
By using affordable housing as a means for greater financial independence, PadSplit’s members are able to save more, improve their credit score and purchase their own vehicles and homes, all dramatically improving their lives. PadSplit currently operates more than 1,500 units across multiple markets including Atlanta, Houston, Tampa, Indianapolis and others.
Before founding PadSplit in 2018, Atticus served as an affordable housing developer. As a recognized thought leader on housing solutions, he has presented at MIT, UC Berkeley, and the US Chamber of Commerce Foundation. He is the chair of ULI’s UrbanPlan Education Initiative, co-chaired the Design For Affordability Task Force in 2018, and serves in multiple civic and volunteer capacities.
Atticus graduated from Yale University with a BA in Architecture, and currently lives in Decatur, GA with his wife, their 4 boys, 2 dogs, and lots of chickens.

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