How To Build An ADU And Start Generating Passive Rental Income
On this week’s episode of The Art of Passive Income, Mark and Scott welcome housing advocate and marketing director Ryan O’Connell to the show.
Ryan O’Connell is the founder of How To ADU and an advocate for more housing in California. He moved to Napa, California in 2012 to start nakedwines.com which is now one of the twenty largest wineries in the United States. In traveling all over California’s beautiful wine regions, Ryan had too many occasions to meet vineyard workers, winery teams, and hospitality staff that cannot afford to live in the regions where they work.
While grateful for the success and growth of California’s wine country, Ryan also saw a fundamental problem pushing people out of their communities or driving them to spend far more than a third of their income on housing. Revisiting his political science background, where he holds a B.A. from Tulane University), Ryan set out to explain Accessory Dwelling Units (ADUs) to California homeowners. He wants to create simple ways for homeowners to reduce California’s housing shortage, in a way that benefits them and their communities.
Listen in as they discuss:
- What is an ADU
- The process of building ADUs
- How does one generate profit and passive income from ADUs
- An example of a single-family home that was converted to an ADU
- Costs associated with ADUs
TIP OF THE WEEK
Mark: My tip of the week could change your life, go to https://www.how-to-adu.com/, tons of information there and you’re going to learn a lot in there.
Scott: Check out storydot.com, you can turn slides or PowerPoint into an interactive thing that almost becomes like a webpage
Ryan O’Connell: I learned what I have now by reading Backdoor Revolution by Cole Peterson, he’s a very generous person. He cares about housing, he cares about you. I highly recommend his book.
WANT TO LISTEN MORE?
Did you like this episode? If so, tune into another one of our exciting episodes with special guest Shane Melanson as we discuss the benefits of Commercial Real Estate.
Isn’t it time to create passive income so you can work where you want, when you want and with whomever you want?