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What does it take to build an ADU? Determination, a residentially zoned property, the right team, and well…. money.
Not everyone has $200k dollars lying around, waiting to be used on a large project like an ADU. For many people, determining financing is the very first crucial step to getting the ball rolling.
As with anything to do with money, it’s completely normal to be feeling a bit uneasy about the process. You never know what kind of “scams” there are out there and you also want to make sure you’re getting a good rate.
Now, keep in mind, I’m not a debt officer or a money planner. I’m the top executive at Maxable, the nation’s leading ADU educator. We’ve guided over 700 homeowners through their ADU projects.
Our goal is to create homes where they’re most needed. Whether you’re building a home for your aging parents, or renting out for passive rental earnings to supplement your savings, and we’re here to help in any way we can whether it’s educating, designing, or referring you to one of our excellent general contracting partners.
In today’s video, we cover the four basic ADU debt types:
– Cash-out refi
– Home equity line of loan (HELOC)
– Renovation debt (or construction debt)
– Pooling resources within family
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CALLING ALL ADU EXPERTS AND PROFESSIONALS
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