Did you know that Accessory Dwelling Units are a great investment and an affordable housing solution? There are talks about them happening around the country...if you’re listening. Tune in as Rogelio Martinez, the ADU Loan Guy and founder of Vvelcome, explains what qualifies as an ADU, why they’re an excellent option to make use of that extra space, and how financing works — and learn why Rogelio is so passionate about what he does.
Please subscribe to this podcast in iTunes or in the Podcasts App on your phone, and never miss a beat from Leigh by visiting https://leighbrown.com. If you’re tired of doing real estate alone, enroll in Leigh Brown University and be sure to use your special “CSIRE” discount code at checkout for $10 off your subscription.
- 00:40 - Today’s topic: Accessory Dwelling Units.
- 01:15 - The definition of an ADU and the square footage requirements.
- 04:00 - About Rogelio, what he does, and how he started his company, VVelcome.
- 07:15 - People want to be real estate investors, but they’re looking in the wrong place.
- 08:50 - They’re a great option for aging parents or older children in a post-COVID era.
- 09:55 - Public policy with ADUs and updates on statewide ordinances.
- 12:45 - Two things will sunset after 5 years on Dec. 31,
- 2020 - owner occupancy and the 5-year amnesty for unpermitted dwellings.
- 14:25 - You need to know your local elected officials in order to stay abreast of these issues.
- 16:05 - Your state or city may be talking about this, even if you’re not in CA or OR.
- 17:35 - Shipping containers are allowed as an ADU as long as they meet the requirements.
- 20:05 - How financing works for an ADU and the options Rogelio’s company offers.
- 20:50 - Using an FHA 203K loan to convert an attached or detached garage.
- 22:25 - The four Fannie Mae and Freddie Mac loan options and others.
- 23:55 - Assisted living and aging in place with ADUs.
- 24:50 - What Rogelio is against and why.
- 26:35 - Talk to your Government Affairs Director.
- 27:05 - How to reach Rogelio: DM him on Instagram.
- 29:00 - What he does and why it’s important.
3 Key Points
1.) ADUs are a great way to build an investment and save money.
2.) ADUs are an affordable and attractive solution for housing.
3.) Don’t forget our seniors, veterans, and single parents.
References