In this episode of "Monopoly Life," hosts Sergio Hernandez and Omar Martinez welcome Jared and Brian from Triplex Millionaires. The conversation kicks off with appreciation for Jared and Brian's time given their busy schedule with numerous projects. The hosts delve into the origins of their guests' venture into Accessory Dwelling Units (ADUs), prompted by an introduction through Brian Decker and a personal investment strategy aimed at enhancing a two-unit property. This leads to a discussion on the cost-effective and successful ADU projects managed by Triplex Millionaires, contrasting with initial, higher cost expectations.

Jared and Brian recount their entry into the ADU market about three and a half years ago, spurred by new legislation in 2020 that made ADU development more feasible by reducing fees and regulatory barriers. Their first project in Hemet faced significant challenges, including high development fees and lengthy negotiations with the city, illustrating the hurdles of pioneering ADU projects under the new law. Despite these obstacles, they managed to significantly reduce fees and set a precedent for future projects.

The conversation further explores the financial and operational strategies behind successful ADU projects, including dealing with city ordinances and leveraging legal advice to navigate regulatory requirements. Jared and Brian highlight the importance of aligning their practices with the letter of the law, ensuring compliance while optimizing project outcomes.

Their first successful ADU project not only demonstrated the viability of their approach but also set a template for future ventures, leading to a series of profitable ADU developments. The guests reflect on the lessons learned from their initial projects and the potential they unlocked for investors and homeowners alike, emphasizing the strategic advantage of their early entry into the ADU market.

This episode offers insights into the challenges and opportunities of ADU development, showcasing Jared and Brian's innovative approach to real estate investment and the impact of legislative changes on the housing market. Through their experience, listeners gain a deeper understanding of the complexities and rewards of ADU projects, as well as the strategic foresight needed to navigate the evolving real estate landscape.

The best way to contact Brian & Jared is to message them on Instagram @cashflowcalifornia

Also if you want to join the Triple Millionaire here  is the affiliate link

https://triplexmillionaire.com/on-demand-opt-in-7490?am_id=sergio120

Here is what you can learn and have access to this private group.

THE STRATEGY

🚀Phase 1:

Use the new California ADU laws to create Tri-Plexes from traditional single-family homes.

💲Phase 2:

Generate $2,500 per month in free cash-flow and $100K in forced appreciation from each project.

🎉 Phase 3:

Wipe out your other income tax liabilities with new asset depreciation on each project.

💰Phase 4:

Tenants pay down the debt, creating generational wealth for you and your family.

🏠Rinse and Repeat👍

Hosted by:

Sergio Hernandez
DRE#01190068 | NMLS# 108378
Instagram

Omar A. Martinez
DRE# 01290170 | NMLS#108525
Instagram

All information is for informational purposes.

In this episode of Monopoly Life, the hosts discuss the Dream for All Shared Appreciation loan program and its second go-around.  They reflect on the challenges of the program's first year, where funds were quickly exhausted in just a few days. The discussion highlights the changes made to ensure that the funds are allocated to those who truly need them for homeownership. They delve into eligibility criteria, including being a first-time homebuyer, a first-generation homebuyer, and a resident of California. The hosts emphasize the importance of completing the required homebuyer education courses and obtaining a pre-qualification letter. They also explain how the shared appreciation loan program works, detailing how it can benefit potential homebuyers. 

The podcast hosts provide insights into the updated application process, which now includes a lottery system and region-based selection to ensure fair distribution of funds. They stress the significance of adhering to income limits based on the county of purchase. The episode ends with a call to action for listeners to take action promptly and make their dream of homeownership a reality. Don't miss this valuable information on the Dream for All Shared Appreciation program!

Homebuyer Education Link
https://www.calhfadreamforall.com/

CALHFA Dreame for all Shared Program Handbook
https://www.calhfa.ca.gov/homeownership/programs/

Hosted by:

Sergio Hernandez
DRE#01190068 | NMLS# 108378
Instagram

Omar A. Martinez
DRE# 01290170 | NMLS#108525
Instagram

All information is for informational purposes.

"In this podcast episode, join Sergio Hernandez, a seasoned professional in mortgage and real estate since 1994, as he unveils the often overlooked costs of homeownership that could turn your dream home into a financial nightmare. Sergio shares practical advice on how to avoid common traps and prepare for these expenses, ensuring a smooth and budget-friendly homeownership journey. Don't miss this valuable insight from an industry expert. Like, subscribe, and hit the notification bell for more informative episodes. Have questions or topics you'd like us to cover? Leave a comment or message us. Your feedback is appreciated. Tune in to Monopoly Life for essential real estate wisdom."

Hosted by:

Sergio Hernandez
DRE#01190068 | NMLS# 108378
Instagram

Omar A. Martinez
DRE# 01290170 | NMLS#108525
Instagram

All information is for informational purposes.