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Your Home’s Hidden Passive Income Stream (ADUs Explained)

What do you think of when we say ADU (accessory dwelling unit)? If you’re like most homeowners, you probably think of a back house, a mother-in-law suite, or a converted art studio. But what if you don’t have a home that comes with a pre-fitted accessory dwelling unit? What if you don’t want to put in the money (or time) to build one out. Are you left with any options, or are your ADU dreams dead in the dust?

If you’ve wanted to start building passive income streams through your primary residence, then we’ve got good news for you. With us today is Derek Sherrell, also known as “That ADU Guy”, precisely because he is THE person you want to talk to when it comes to accessory dwelling units on your property. Derek knows his stuff, consulting dozens of homeowners on how an ADU would fit into their property and how much passive income they could make as a result.

And it’s not just about building some other structure in your backyard. You can convert attics, basements, garages, and even portions of your house into accessory dwelling units. Not only does this allow you to save on the cost of new construction, but it also gives you another option to build wealth, pay down your mortgage, or simply profit from a rarely used portion of your home.

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Join BiggerPockets for FREE:
https://www.biggerpockets.com/signup?utm_source=youtube&utm_medium=description&utm_campaign=none
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Find an ADU-Friendly Agent in Your Area:
https://www.biggerpockets.com/agent/match?utm_source=youtube&utm_medium=description&utm_campaign=none
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What Exactly Is an Accessory Dwelling Unit?
https://www.biggerpockets.com/blog/accessory-dwelling-units-explained?utm_source=youtube&utm_medium=description&utm_campaign=none
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10 Things to Consider When Investing in Accessory Dwelling Units:
https://www.biggerpockets.com/blog/accessory-dwelling-units-tips?utm_source=youtube&utm_medium=description&utm_campaign=none
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AARP’s ADU Model State Act and Local Ordinance:
https://www.aarp.org/livable-communities/housing/info-2021/adu-model-state-act-and-local-ordinance.html
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Get in Touch with Derek About Your ADU Questions:
https://thataduguy.com/
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Follow David and Henry on Instagram:
David: @davidgreene24 or https://www.instagram.com/davidgreene24/
Henry: @thehenrywashington or https://www.instagram.com/thehenrywashington/
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Connect with David and Henry on BiggerPockets:
David: https://www.biggerpockets.com/users/davidgreene24?utm_source=youtube&utm_medium=description&utm_campaign=none
Henry: https://www.biggerpockets.com/users/henryw22?utm_source=youtube&utm_medium=description&utm_campaign=none

Episode 581

Show notes at: https://www.biggerpockets.com/blog/real-estate-581?utm_source=youtube&utm_medium=description&utm_campaign=none

0:00 Intro
3:55 Quick Tip
6:00 Why ADUs? (Accessory Dwelling Units)
12:19 The Criteria for Finding ADU-Friendly Propertie
17:21 Challenges to the ADU Strategy
23:59 What to Look for in Existing ADUs
30:33 Garage Conversion Tips
42:29 Deal Deep Dive
45:45 Fire Round
52:54 Famous Four

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