What do you think of when we say ADU (accessory dwelling unit)? If you’re like most homeowners, you probably think of a back house, a mother-in-law suite, or a converted art studio. But what if you don’t have a home that comes with a pre-fitted accessory dwelling unit? What if you don’t want to put in the money (or time) to build one out. Are you left with any options, or are your ADU dreams dead in the dust?
If you’ve wanted to start building passive income streams through your primary residence, then we’ve got good news for you. With us today is Derek Sherrell, also known as “That ADU Guy”, precisely because he is THE person you want to talk to when it comes to accessory dwelling units on your property. Derek knows his stuff, consulting dozens of homeowners on how an ADU would fit into their property and how much passive income they could make as a result.
And it’s not just about building some other structure in your backyard. You can convert attics, basements, garages, and even portions of your house into accessory dwelling units. Not only does this allow you to save on the cost of new construction, but it also gives you another option to build wealth, pay down your mortgage, or simply profit from a rarely used portion of your home.
In This Episode We Cover:
The exact criteria homeowners should look for in potential ADU-friendly properties
Attached vs. detached ADUs and the benefits (and cash flow difference) of both
The four main challenges when building, financing, or strategizing an ADU
What to look for in existing ADU structures, whether it’s a garage, back house, or basement
How to become an ADU expert quickly (and for free) with simple city zoning information
And So Much More!
Links from the Show:
BiggerPockets Agent Finder
BiggerPockets Forums
Dave Ramsey website
Warren Buffet Forbes profile
Joe Asamoah's BiggerPockets profile
GC Real Estate
Check the full show notes here: https://www.biggerpockets.com/blog/real-estate-581
Learn more about your ad choices. Visit megaphone.fm/adchoices
