“I’m one of the people who practices what I preach,” he explained. “I have over 100 PadSplit rooms that I rent out – not many investors have this many co-living room rentals.”
This focus on innovative solutions like PadSplit has been transformative for Weller’s business. The PadSplit model enables landlords to rent out properties room by room for longer stays, typically six to 10 months – but sometimes even years.
“It’s a platform like Airbnb, but you’re renting out rooms long-term,” Weller said. This model addresses a growing need for affordable housing, allowing members to pay weekly and avoid hefty upfront costs like first and last month’s rent. “Padsplit is helping solve one of the nation’s largest housing crises in unaffordable rental housing, and I am thankful to be able to help them in their mission, because they really do make a difference in people’s lives,” he said.
“This is more than 50% of my personal business right now,” Weller shared. “It’s such a niche product that very few lenders, if any, have a product for it, and we do.”
For landlords, this means a unique financing opportunity that other lenders simply don’t provide. Weller highlighted the market’s response: “The leads we are working are so good… it’s not a matter of, ‘Can they qualify?’ It’s a matter of, ‘How fast can they find a house?’” Obviously there are qualification requirements, but it is our job to make it as quick and easy as possible.