In this final part of a two-part episode, we continue our discussion about the ins and outs of building Accessory Dwelling Units (ADUs) which are becoming increasingly popular in backyards as extra living space for extended family, overnight guests, or as a way to generate rental income.

Tom Mulhern, co-founder of AzADU, joins us to break down the real numbers behind building an ADU, explore financing options, and common surprises that pop up during construction. With rising home prices and changing family needs, ADUs are gaining traction as a versatile, value-adding alternative in residential real estate. If you’re curious about expanding your living space, investing in multi-generational housing, or eyeing ADUs for rental income and long-term value, this episode is a can’t-miss.

Three Key Takeaways:

• Financing ADUs Requires Creativity: Most homeowners opt for HELOCs, cash savings, or funds from family home sales; traditional construction loans are less popular due to complexity.
• Expect the Unexpected: Installing an ADU can come with surprises—think abandoned septic tanks or tough utility connections. Working with experienced builders who anticipate surprises is crucial!
• Legal Landscape is Evolving: Recent changes to state laws make it easier to build ADUs, but every lot and municipality has its quirks. Work with local experts to navigate zoning, setbacks, and building codes.

Learn more about AzADU’s floor plans, standard features, and cost breakdowns, or for personal consultation with Tom Mulhern and his team: https://www.az-adu.com/

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  • YouTube: youtube.com/@theunconventionalinvestor
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  • Instagram: instagram.com/michelle.e.moses
  • Website: www.mefinancial.net

Disclaimer:

The information discussed in this podcast is for educational and informational purposes only and does not constitute an offer to sell, or a solicitation of an offer to buy, any securities, investments, or financial instruments. Private placements and alternative investments are speculative and involve significant risks, including the potential loss of your entire investment. These investments are often illiquid, meaning they may not be easily sold or converted to cash, and investors should be prepared to hold them for an extended period of time. These opportunities are typically suitable only for accredited investors and may not be appropriate for all listeners. Always consult with a qualified financial advisor, attorney, or tax professional before making any investment decisions. The hosts and guests of this podcast are not responsible for any actions taken based on the information presented.

Accessory Dwelling Units (ADUs) are transforming family living as more people are building ADUs to care for parents or make space for grown kids.

If you’ve wondered about converting a garage, adding a modular unit, or starting fresh from the ground up, then tune into this episode! We discuss the real costs, challenges, and benefits of building an ADU. In this two-part episode, we are joined by expert Tom Mulhern, co-founder of AzADU, to explain the real costs, legislative changes, and why most ADUs are actually built for families and not as rental income.

Key Takeaways:

• ADUs Are More Than Instagram DIYs: Reality TV and social media make ADUs look easy, but there are a multitude of complexities including permitting, plumbing, electrical, and zoning. Building an ADU is a significant undertaking that requires understanding local ordinances and construction realities.
• Family First, Rentals Second: Contrary to media hype, most ADUs are built for multi-generational living, not rental income. Rising costs have families consolidating, using ADUs to keep loved ones close and reduce housing costs, while also freeing up larger homes for sale in the market.
• Cost Factors Go Beyond Size: Building an ADU is expensive on a per-square-foot basis, but compared to buying a full home in central locations, it can be an affordable alternative. ADU costs are driven mostly by kitchens, bathrooms, and utility connections. Modular and container homes aren’t always cheaper, given site prep, sanitation, and retrofitting requirements.

Be sure to catch part two of this episode where we’ll talk financing and more strategies for unconventional investing as we dive deeper into the cost breakdown, financing options, and rental income potential for ADUs.

Contact Tom Mulhern at AzADU: https://www.az-adu.com/

Take the quiz - How Alternative Assets Can Fit in Your Portfolio

Ready for the next step?

• Subscribe to the Podcast: pod.link/1671924778
• Don't forget to leave a review!

Follow Michelle for more financial tips:

• YouTube: youtube.com/@theunconventionalinvestor
• Facebook: facebook.com/theunconventionalinvestorpodcast
• Instagram: instagram.com/michelle.e.moses
• Website: www.mefinancial.net

Disclaimer:

The information discussed in this podcast is for educational and informational purposes only and does not constitute an offer to sell, or a solicitation of an offer to buy, any securities, investments, or financial instruments. Private placements and alternative investments are speculative and involve significant risks, including the potential loss of your entire investment. These investments are often illiquid, meaning they may not be easily sold or converted to cash, and investors should be prepared to hold them for an extended period of time. These opportunities are typically suitable only for accredited investors and may not be appropriate for all listeners. Always consult with a qualified financial advisor, attorney, or tax professional before making any investment decisions. The hosts and guests of this podcast are not responsible for any actions taken based on the information presented.

Appreciate what you have and where you are because gratitude is the real wealth. In today’s episode, Michelle gives her perspective on the book The Gratitude Diaries by Janice Kaplan with a focus on the chapter about money. With honest, personal reflections and practical advice, this episode encourages listeners to adopt a more grateful outlook in their financial journeys and highlights how privilege can shape our attitudes about wealth and competition. As you chase your financial goals, remember to be thankful for your journey, your support network, and every break that you were given along the way.

Top 3 Key Takeaways:

• Gratitude Goes Beyond Hard Work: Success isn't just about hustle. Many advantages—family support, legal protections, educational opportunities, even a helping hand—play a role. Taking a moment to recognize these factors keeps us grounded.
• Competition vs. Collaboration: The scarcity mindset isn't helpful. There are enough clients, opportunities, and wealth for everyone. Focusing on collective abundance, rather than competition, changes how we approach business and money.
• Giving Is More Memorable: Studies show acts of generosity stick with us far longer than spending on ourselves. Whether it's gifting, helping others, or offering a deal, these moments create lasting wellbeing.

If you're interested in alternative investment strategies or just want to chat about gratitude, feel free to connect!

Take the quiz - How Alternative Assets Can Fit in Your Portfolio

Ready for the next step?

• Subscribe to the Podcast: pod.link/1671924778
• Don't forget to leave a review!
• Follow Michelle for more financial tips:
  • YouTube: youtube.com/@theunconventionalinvestor
  • Facebook: facebook.com/theunconventionalinvestorpodcast
  • Instagram: instagram.com/michelle.e.moses
  • Website: www.mefinancial.net

Disclaimer:

The information discussed in this podcast is for educational and informational purposes only and does not constitute an offer to sell, or a solicitation of an offer to buy, any securities, investments, or financial instruments. Private placements and alternative investments are speculative and involve significant risks, including the potential loss of your entire investment. These investments are often illiquid, meaning they may not be easily sold or converted to cash, and investors should be prepared to hold them for an extended period of time. These opportunities are typically suitable only for accredited investors and may not be appropriate for all listeners. Always consult with a qualified financial advisor, attorney, or tax professional before making any investment decisions. The hosts and guests of this podcast are not responsible for any actions taken based on the information presented.