Build Wealth In Your Backyard...
As of January 1st, 2017, new laws went into effect bringing sweeping changes to California’s regulation of ADUs (otherwise known as secondary units, granny flats and in-law units).
The upshot is, the vast majority of owners of single family homes in California can now build a legal, second unit on their properties to either rent out or provide housing for loved ones. What’s more, these laws significantly bring down the cost of developing an ADU while dramatically increasing the size of ADUs many homeowners can build.
The Bay Area Council recently surveyed Bay Area residents on this subject, and found that one in four would like to build an ADU. However, the way lenders and appraisers have traditionally evaluated these units has led to a dearth of them actually being built. Unfortunately, the majority of people who try, find that their project is impossible to finance.
In the past year and a half I've spent countless hours searching for potential solutions to this financing puzzle. And I'm proud to say that all that work, along with help from some of the the 100+ lenders C2 Financial Corp. gives me access to, have lead me to some real breakthroughs in ADU construction financing.
The Bay Area Council recently surveyed Bay Area residents on this subject, and found that one in four would like to build an ADU. However, the way lenders and appraisers have traditionally evaluated these units has led to a dearth of them actually being built. Unfortunately, the majority of people who try, find that their project is impossible to finance.
In the past year and a half I've spent countless hours searching for potential solutions to this financing puzzle. And I'm proud to say that all that work, along with help from some of the the 100+ lenders C2 Financial Corp. gives me access to, have lead me to some real breakthroughs in ADU construction financing.
