In the house hacking industry, DIY remodels are usually the way to go. But what if we told you that you could be raking in even more with new builds and Accessory Dwelling Units (ADUs)? Derek Sherrell is joining us this week to share everything he knows about achieving financial freedom through ADUs.
With more than 25 years of experience, Derek has made it his life mission to teach people all about building affordable ADUs. Through his Youtube videos, he has been documenting every step of every build so that virtually anyone can get into the industry!
Tune in to this week’s episode with Craig, Zeona, and Derek to learn all about the strategies to identifying properties with great potential, vetting dependable builders, and financing your first ADU in today’s market!
PODCAST HIGHLIGHTS:
[1:25] Z’s New Mid-Term Rental in Atlanta
[4:10] How Derek Got Into ADU’s
[9:10] What Every House Hacker Needs To Know By Heart
[10:35] Multi-Family Development vs. ADUs
[12:40] Derek’s Strategies To Finding And Maximizing ADUs
[19:55] Beginners Steps To Getting Into ADUs
[25:48] Most Affordable Way To Build An ADU
[28:48] On Garage Conversions: Yay or Nay?
[37:13] Why New Builds Can Actually Be Easier Than Remodels
[40:30] How To Find Excellent Builders
[42:45] The Best Cheat Code To Wealth
[45:10] What Keeps Derek Going
[50:50] Three Simple Tips For Affordable ADU Projects
Affiliate Links:
1. Don’t miss out on resources of great value for real estate starters. Visit FITeam’s website! —https://www.thefiteam.com/
2. Join a supportive community of over 1200 passionate, like-minded investors! You can find your very first short-term or medium-term rental here, as well as accountability buddies and bi-weekly webinars:
AirBnB Investing -https://www.facebook.com/groups/airbnbinvesting
3. Check out what Derek is currently listening to on Audible - The Wise Investor: A Modern Parable About Creating Financial Freedom and Living Your Best Life by Rich Fettke - https://www.audible.com/pd/The-Wise-Investor-Audiobook/B0B2BZP8V6n
4. Easily manage your properties with www.rentredi.com and use our CODE: INVEST2FI to get 50% off on your first 6 months!
5. Kaplan Real Estate Education - https://www.kapre.com/ and use our CODE - Invest2
6. Learn step by step how to purchase a property, set up rent, and ultimately become an AirBNB SuperHost! You can register for FREE here: https://www.stepbystepbnb.com/a/2147508384/zG79Sujh
Episode 33 - How To Focus On FI With House Hacker & Agent Jordan Smith
Episode 32 - Mom's House Comes First! Flipping & BRRRRing His Way To FI With Ernesto Hernandez
Episode 31 - Swimming, Brewing & Rapping His Way To FI With Matt Giovanisci
Episode 30 - FI Before FI Was A Thing! Buy & Hold Pays Off For Legendary Luc Nadeau
Episode 29 - How The Queen Of Short Term Rentals Rocks A Thriving Business With Avery Carl
Episode 28 - A Nomad's Unusual Road To FI With Location Indie Founder Jason Moore
Episode 27 - How New FI Team Agent Ben Rhodin Got Started With Real Estate Investing
Episode 26 – From New-To-The-Concept To Buying His First House Hack In ONE Week! With David Bandler
Episode 25 - Real Estate Investing With The FI Queen Rachel Richards AKA @MoneyHoney
Episode 24 - The Accidental House Hack To 63 Units In 4 Years With Bo Kim
Episode 23 - The House Hacking Fox Of New Jersey With Shawn McEnteer
Episode 22 - On The Fast Track To FI With Cody Berman
Episode 21 - From Grad School & W2 To House Hacking Success With Chris Gomes
Episode 20 - Living The Travel Hacker FI Life W' Real Estate Investing NOW - Not Later! With Sarah Weaver
Episode 19 - Success Out The Gate And How He Finally Got Around To House Hacking With Gerardo Hernandez
Episode 18 - An Airbnb OG Who Achieved Financial Independence By 30 With Zeona McIntyre
Episode 17 - House Hacking Their Way Out Of $100k Of Debt With Low Paying Jobs With Josh And Ali Lupo
Episode 16 - 27-Year-Old Real Estate Agent Goes From A Team Of 3 To 60 In Just 2 Years With Ramon Casaus
Episode 15 - Military And Investing With David Pere
Episode 14 - Nick Monge's Story On How He Started In REI
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