In this episode of "Monopoly Life," hosts Sergio Hernandez and Omar Martinez welcome Jared and Brian from Triplex Millionaires. The conversation kicks off with appreciation for Jared and Brian's time given their busy schedule with numerous projects. The hosts delve into the origins of their guests' venture into Accessory Dwelling Units (ADUs), prompted by an introduction through Brian Decker and a personal investment strategy aimed at enhancing a two-unit property. This leads to a discussion on the cost-effective and successful ADU projects managed by Triplex Millionaires, contrasting with initial, higher cost expectations.
Jared and Brian recount their entry into the ADU market about three and a half years ago, spurred by new legislation in 2020 that made ADU development more feasible by reducing fees and regulatory barriers. Their first project in Hemet faced significant challenges, including high development fees and lengthy negotiations with the city, illustrating the hurdles of pioneering ADU projects under the new law. Despite these obstacles, they managed to significantly reduce fees and set a precedent for future projects.
The conversation further explores the financial and operational strategies behind successful ADU projects, including dealing with city ordinances and leveraging legal advice to navigate regulatory requirements. Jared and Brian highlight the importance of aligning their practices with the letter of the law, ensuring compliance while optimizing project outcomes.
Their first successful ADU project not only demonstrated the viability of their approach but also set a template for future ventures, leading to a series of profitable ADU developments. The guests reflect on the lessons learned from their initial projects and the potential they unlocked for investors and homeowners alike, emphasizing the strategic advantage of their early entry into the ADU market.
This episode offers insights into the challenges and opportunities of ADU development, showcasing Jared and Brian's innovative approach to real estate investment and the impact of legislative changes on the housing market. Through their experience, listeners gain a deeper understanding of the complexities and rewards of ADU projects, as well as the strategic foresight needed to navigate the evolving real estate landscape.
The best way to contact Brian & Jared is to message them on Instagram @cashflowcalifornia
Also if you want to join the Triple Millionaire here is the affiliate link
https://triplexmillionaire.com/on-demand-opt-in-7490?am_id=sergio120
Here is what you can learn and have access to this private group.
THE STRATEGY
🚀Phase 1:
Use the new California ADU laws to create Tri-Plexes from traditional single-family homes.
💲Phase 2:
Generate $2,500 per month in free cash-flow and $100K in forced appreciation from each project.
🎉 Phase 3:
Wipe out your other income tax liabilities with new asset depreciation on each project.
💰Phase 4:
Tenants pay down the debt, creating generational wealth for you and your family.
🏠Rinse and Repeat👍
Hosted by:
Sergio Hernandez
DRE#01190068 | NMLS# 108378
Instagram
Omar A. Martinez
DRE# 01290170 | NMLS#108525
Instagram
All information is for informational purposes.
9 mins