Anyone building ADUs/JADUs in the Fresno/ Clovis area?
I am looking into investing in long-term rentals in Fresno sometime toward, specifically single family homes with the intention to build both an ADU and JADU on every property. The plan is to BRRRR fixers with hard money or funding partners, and then build the ADUs (home equity loan maybe?). I'm in it for the cash flow (although I wouldn't complain if the ADUs added a decent amount of equity). Has anyone built an ADU/JADU in the Fresno area? Did you get an appraisal after the build? If so, how much equity did the ADU add to the property?
I would like to know if ADUS add or decrease property value in Fresno and if the rents are worth building the ADU as an owner builder (I have built 1 JADU and 3 ADUS as an owner builder at about $90 per square foot).
ADUs in my hometown, where I invest in, add a significant amount of value to a property, only problem is that my market still has buyers paying over asking (not nearly as much as when rates were low though, $10k-$15k is common) for a move in ready house). Just not enough supply and buyers are going in with two families on a single family house.