What if you could solve the housing crisis and build wealth at the same time? In this episode of Invest2FI, Craig is joined by Phil Daughton, a general contractor with extensive experience in ADU (Additional Dwelling Unit) builds. Together, they discuss the exciting potential of ADUs as a solution to the affordable housing crisis.
Phil shares his insights on how to identify properties perfect for ADU development. He also covers key considerations during the building process and the future of this booming investment strategy. From construction tips to the best strategies for zoning regulations, this episode is a must-listen for real estate investors.
If you’re looking to maximize your properties and contribute to the affordable housing solution, you’ll want to hear this. Learn the steps to build your own ADU and how to approach the market with a long-term investment mindset.
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Watch the episode here
Listen to the podcast here
Podcast Highlights:
[04:25] Craig recalls Phil’s meetup talk on ADUs in California with a packed audience.
[08:08] Phil shares starting a company in 2020 after leaving full-time work.
[11:54] Remembering COVID times, waiting an hour outside Home Depot stores.
[15:23] Investor example in California builds two ADUs behind the primary residence.
[18:53] Rezoning properties for townhomes shows city’s affordability housing requirements.
[22:35] Guiding homeowners through ADU planning conversations on property potential.
[26:03] Selling versus holding long-term property revealed major financial tradeoffs.
[29:54] Rising property costs push investors to rethink affordability in California.
[33:49] Comparing single-family return rates with multi-unit ADU rental strategies.
[37:34] Networking for five years consistently built partnerships and steady project flow.
[41:35] Challenges financing multiple ADU builds without overextending project budgets.
[45:45] Phil shows confidence in adapting despite market downturns and risks.
[49:43] Discussing three chapters from his book on investment lessons learned.
[53:40] Comparing toys and material things with long-term wealth investments.
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Important Links
HOST
Craig Curelop
📸 Instagram: https://www.instagram.com/thefiguy
📘 Book: https://store.biggerpockets.com/products/the-house-hacking-strategy
🏘️ Buy Real Estate: https://bit.ly/3V3QDze
GUEST
Phillip Daughton
🌐Website: https://prenvalleybuilders.com/
🔗LinkedIn: https://www.linkedin.com/in/phillip-daughton-8a218943/
📸 Instagram: https://www.instagram.com/prenvalleybuilders/?hl=en
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🔗 Affiliate Link
- Don’t miss out on resources of great value for real estate starters. Visit FITeam’s website! — https://www.thefiteam.com/