ADU's - Interested in Meeting for Coffee?

16 Replies

I am interested in connecting with one or more people are are currently research and/or building ADU's for investment. Our goal is to become an expert on ADU's and the sub-topics that relate to them. Current financing available, construction costs and how to reduce them, appraisal trends, best practices when building on investment properties, rental values, design trends, how to minimize the construction time, ideal target markets, which city's DOB's are helpful and which aren't, preferred vendors, etc. I also have a couple great ideas up my sleeve that I would be happy to share with this proposed group, but that I won't be posting on any blog! Please reach out if you are interested in meeting up. I'm based in OC and regularly work in LA as well.

About Me:  13 years in real estate, licensed attorney and broker, executive at major real estate firm, consultant on large scale residential projects in markets from NYC to Phoenix to LA. I'm less experienced in personal investing, but certainly not new either. I've been a landlord twice in the past (sold those properties) and currently am buying my second investment property in SoCal (first is in Inglewood). Planning to ramp that investment business up now with a specialty in ADU development and have started to explore relationships to do so including a family member that owns a successful general contracting business and others with capital to invest.

I'm hoping to find other people that bring something to the table and are actively trying to learn the playing field for ADU development under the new laws. Maybe we could meet for coffee every couple of months to share and discuss.

I would love to join. This past October I just went through Kol Peterson's ADU Academy and we covered all those areas.  The only problem it is still the beginning of the year and the new laws have not been really tested in CA as gar as number of applications and speed of approval.  Even the mew loan products like the Fanmoe Mae Home Style Loan. 

Glad we have some interest! I've messaged everyone individually and asked for your e-mail address. I'll send a group e-mail once I have them all and see if we can figure out our next steps and a time and place to meet. If you didn't receive a message from me, please PM me.

@ Clarence Johnson - that's interesting (and unfortunate). What is the state of the law now regarding multifamily zoned properties. Can you build an ADU as of right under state law now?

@Mike Akerly @Clarence Johnson You can build ADU(s) on multi unit properties per CA law Jan 2020. There are plenty of cities that are not fond of this law and will be doing everything they can to fight it, but as it sits that is the law. Depending on you as an investor and your desire to push forward you have every legal right to do so. Will the city try to make it as difficult as possible for you? You betcha, but they can only do so much. If you want to pursue and push forward you can.

@Clarence Johnson

Housing Policy Development

won't let me post number so ill PM

California Department of Housing & Community Development
2020 West El Camino Avenue
Sacramento, CA 95833

If you find a number let me know!

Originally posted by @Nabil Suleiman :

@Mike Akerly

Hi Mike, always in for coffee and ADU conversations. I have a few under my belt now and am working on my next. I'm in LA all the time. Let me know what works best.

Hi Team,

I am in the process of building an ADU. We are extremely frustrated with the length that it has taken us to get certain approvals.

@Nabil Suleiman you mentioned, you have a few under your belt. What capacity were you involved in those projects? We are still waiting for structural engineering approval and drainage. Any feedback or suggestions?