Legally turning my Single House into a TRIPLEX!
ฝัง
- เผยแพร่เมื่อ 1 ม.ค. 2020
- California's new ADU law lets me turn a house into triplex. Here's how YOU can make money anywhere. Remember, become a pro: use psychology & knowledge to make money in real estate: NEW 40% off Coupon code ImNotLeaving 🔥🔥🔥 Lifetime access to programs on building your wealth & new updates in stocks, real estate, management, sales, or TH-cam. metkevin.com/join Want deals off market / before they hit the MLS? Checkout metkevin.com/deals for DealMachine!
⚠️⚠️Links I Mentioned:⚠️⚠️
Make Money with ADUs (email): metkevin.com/adu
My Thoughts on California Rent Control Law: metkevin.com/rentcontrol
Vegas Real Estate Crash Course: 2-20-2020: metkevin.com/vegas
Programs: metkevin.com/program
📬Join the public Discord here: metkevin.com/discord 📬 I'm in there almost daily.
✅✅Programs✅✅
🏡Investing w/ 📅Mentoring Stream📅: metkevin.com/invest
🤵Sales w/ 📅Mentoring Stream📅: metkevin.com/Sales
💰Finance: metkevin.com/money
🧰DIY Property Management: metkevin.com/DIY
☎️Call with Kevin: metkevin.com/Call
Meetup / Crash Course (Email me for a PLUS-ONE or Bundle Coupon.)
🎟 Full Day with Food: Bellagio Vegas 2-20-2020: metkevin.com/vegas
✅✅Links✅✅
🧬Life Insurance I Use: metkevin.com/life
📈Free Stock with Robinhood: metkevin.com/freestock
🎁NEW Books for Entrepreneurs: metkevin.com/books
⚙️Gear I Love: metkevin.com/books
🐦Kevin on Twitter: / realmeetkevin
🔑Password Manager: metkevin.com/password
🎵Channel Music: metkevin.com/music
🏦 Savings & Index Fund Account: metkevin.com/5kfree
📬 Discord: metkevin.com/discord
⚠️Best way to reach is via our private livestreams in the investing & sales course. Otherwise, DM Kevin: @MeetKevin or post on Discord.
🚗All Kevin's events & courses: metkevin.com/program
Course questions? Email Kevin@MeetKevin.com
➖➖➖➖➖➖➖➖➖➖➖➖➖➖➖➖➖➖➖➖➖➖➖
❎I am not a CPA, attorney, insurance, or financial advisor and the information in these videos shall not be construed as tax, legal, insurance, construction, engineering, health and safety, electrical or financial advice. IF stocks or companies are mentioned, Kevin MAY have an ownership interest in them -- DO NOT make buying or selling decisions based on Kevin's videos. If you need such advice, please contact a qualified CPA, attorney, insurance agent, contractor/electrician/engineer/etc. or financial advisor. Linked items may create a financial benefit for Meet Kevin®. Any use of other media is by fair-use only. The Paffrath Organization is a licensed real estate brokerage doing business as Meet Kevin® in California under DRE #02032575.
This is not an advertisement of property for sale and shall not be construed as anything other than an opinion for entertainment purposes only.
Trademarked Slogans (no use without written permission):
⛔️Meet Kevin ®
⛔️No-Pressure Agent ®
⛔️Providing More ®
General questions? Please Instagram DM @MeetKevin OR post in the Discord, linked above.
If you have COURSE-purchase questions, email Kevin@MeetKevin.com
Program: metkevin.com/program
#Triplex #Cashflow #HouseConversion
![Shocked by Graham Stephan’s Rental Remodel [Reaction]](http://i.ytimg.com/vi/TLfimbZ6yC0/mqdefault.jpg)
![[TH] Esports World Cup : Knockout Stage Day 2](http://i.ytimg.com/vi/xz3TW-k9HV0/mqdefault.jpg)
Graham is about to move his TH-cam studio out of his garage 😯
😂😂🤣🤣
Yo that’s funny af
Alex Sanchez, and where will he move his TH-cam studio to?
@@gavnonadoroge3092 think it's a joke
I hope not 😔
Meet Kevin gonna buy a bowling alley and convert it into a 20 plex...calling it
Haha
Give it a week, he's going to find one
Layth Qassem 😂😂
Actually a good idea...
Bowling for Fish
Parking... now your one house will have 4-6 cars parked in front of everyone's house! Shit pisses me off! I deal with it now!
Exactly. And no response to your valid question
“My name is meet kevin” 0:29
Lol
I couldn't resist 😂😂🤣🤣
What
Kevin isn't unique enough has an influencer name
I heard it as Meat Kevin.
How many Americans actually park in their garage in the warmer areas? Most have them full of junk and own SUVS that won’t fit in them easily anyway.
We do. 2 car garage used year round.
This is wonderful!!! Thank you kevin for bringing the awareness.
Im thinking of turning my condo into a mansion. What are your thoughts on that?
do it!
You'll have to part with the single pane aluminum frame windows for dual pane windows. It'll give Meet Kevin a migraine
@@MeetKevin Kevin I have a serious question for you. Why don't you just fix up the main part of the house now to get it rented. And then do the back section later down the road when you have rental income coming in? And if you want to do a triplex do the work on the garage area after the second unit is rented out. Your thoughts on this?? Thanks 😊
@@lostintime8651 if you have the money, fix it all up. That way you have the 57k in rental income, compare to the 30k. And i notice people who do what your asking are lazy, they never finish what they start. I've worked both sides.
Get ready for the increase on taxes
This is great thank you for bringing this to our attention. As always you make great videos and this is one of them. Would you be able to do a follow up of how you would split the power water and trash? Or is that just something you would include with rent?
I been following you for 5 years. Since you was a realtor. I enjoy watching your growth. Your so intelligent and I’m very appreciative of your transparency and caring for other people success
This is exciting news. Thanks for bringing this to our attention!
Love love love the idea of this. My mindset already. Looking forward to your breakdowns as you go. I’ve got a 3/2 on an acre in CA and we have been renting just the house with small fenced area around the yard. Have a detached garage with a shared roof that I’ve been thinking of doing something with. This looks like a great way to make this much less expensive for permits. Also the house has an awkward addition, may be worthwhile to split in 2 then property would have 3 units total. Very fascinating ideas.
I love it! I have a triplex that was originally a large single family home. In DC, you’ll see 4 unit bldgs being built up vertically (since DC lacks land) into 6 and 8-plexes. Maximize your space!!!
Brother, I freakin live your videos man!! Keep on Keepin on!
Ive done this in NYC too. Its great but can be a paint in the butt. Sprinkler system and handicap accessibility are so expensive
Thank you for staying on top of these changes. You are a great asset to the real estate community.
Just not to these neighbors
I love watching these videos, I’m only 14, I’m learning real estate through my dad, and these videos, super inspirational.
You rock!
Hi , Random Person , I am Person Who !! It;s nice to meet you!
-lol
You are lucky to get into videos like these at that early age. Keep up man
Legend
Wow Kevin. Great information. Thanks.
Kevin, this is more of a reason to buy that mansion now
thanks for your valuable videos, kevin..
your videos are always awesome
Bruhhh my goal is to get as many screens as you 😂
Wow @meetkevin I totally missed this bill. Thank you so much for the video.
Love this !!!
Look who’s investing in a 3-family now... ;). Btw I’m almost done watching the lectures on GRM and cap rate. So next livestream we should be good to analyze the deal.
Under the state wide rent control, wouldn't the ADU and the junior ADU be exempt under exemption (e)(7) as the CofO would be issued within the last 15 years?
Our municipality has just loosened up the rules a lot for ADUs; they seem to think we have an affordable housing problem here, also. In South Dakota.
Maybe to bring more people to the area at a cheaper rate?
@@drewshafer9379 It has to do with a developer who is building a little community of tiny homes in association with a work training 'camp' so to speak. Overall goal to help with training homeless people and providing housing at the same time.
*With high priced properties, Cali's trying to take your money since many people invest out of state.* 😉
Do these laws apply to duplexes to be turned into triplexes ir fourplexes? Or only SFR's?
You know if boxable gets their stuff together, this could actually work really well. If you own the land and have a quarter acre like I do you could drop two units in the back, having only spent 100K. Then if you want to expand, you could stack another one on top of them or beside them to create more space and also increase your rent
Thanks for bringing attention to this as it will really help reduce California's housing shortage! If you want to do more ADU content, I'd love to help you out and explain things to your massive investor audience.
smart
I would definitely watch a Collab 😊
Can I do this in a home that is located in a mark single family lot?
How would utilities be divided?? I’m about to start a detached adu in norwalk that’s the only that gots me thinking, any advice would be greatly appreciated thanks
Super cool video Kevin! I haven’t read the comments, maybe someone else has had this idea. But what about a vacation rental in something like this?
I love your videos Kevin. I’ve been thinking about becoming a real estate for about a year now and the last week or so I’ve been watching your videos I’ve made up my mind that I’m going to put it all into this new career.
Good luck brother! Real estate agent or investor, or both?
I think that bill is to make homes affordable for the those who are homeless in California because of how expensive it is to live there. But ok.
Love your work!
Thank you!!
How do u manage the sewer management issue . I have a single family and we just got on city and it was 2000$just for the connection. Who zones this
Thankyou for informing me on this new law! I'm house hacking with this same strategy for my first deal . I converted my master suit into a studio by converting the office into a kitchenette, private entry through the back, and I rent out my adu and live in the main house comfortably. I'm about to convert the garage for air bnb and it has trailer parking I'm going to be charging for parking aswell. The mortgage is 3k and I'm estimating making close to 4k a month and living free. Just need to get rezoned as a triplex now
I disagree about the fact that it will be hard to sell, people (specially investors in California) would jump on those properties just because of the fact that cash flow sucks here
Can’t find any wedge deals in Madera ca? Help me Kevin
Would someone really pay 2800 to live in a triplex when a full house is going for 3200? I'd have to be saving at least 800/month to give up that much space and privacy
Yeah I'm thinking like 2500
I would be overjoyed to find out my neighbor was adding two rental units to their property. Then to find out, he can move, adding a third rental. That will be great for our neighborhood. Awesome.
Slumtown USA here we come!
It's the new norm.
Sounds sarcastic...🧐
-Sherlock Holmes
You should build them too, then rent and move out to a neighborhood that does't have ADU's... yet lol.
I was wondering when you have the square footage to put walls up and make separate dwelling units? Question I would have is there adequate parking for adding additional Tennant's? I thought it was always cool when people take old warehouses and turn into studios, you just have to be good friends with the zoning contractors, or zoning committee?🤔
Do the accesory dwelling units have to have their own electrical and water meters? I'm definitely going to look into this.
Hey Kevin, I am big fan of your channel. Can you give your thoughts on how the utilities will be split between the units!
He didn't a dress it but under these new laws the day will have its own meters, the law makes it cheaper to connect
As someone who has worked as a city planner, I'd caution you that driveways almost never satisfy zoning requirements for parking, no matter which city you are in.
Derek Hung Salt Lake City doesn't ever register parking as a need
@@sunoveristambul Hate to break it to you, but Salt Lake City has a whole section in their municipal code outlining parking requirements (Section 21A.44.030: NUMBER OF OFF STREET PARKING SPACES REQUIRED). Besides, this video is about a Californian law, not a Utah law.
(S)CORE! Congrats on that acronym completion!
Hi I am new love the vids
HELLO KEVIN LOVE YOU. HOPE YOU AND THE FAMILY IS BLESSED. I HOPE YOU HAD AN EXCELLENT END OF THE YEAR. 2020: YEAR OF MIRACLES.
I'm doing a garage conversion do you think a carport and front yard privacy fence is an over improvement for a future rental property
Starting my ADU unit on a cliff may home in a week. My zip code will allow two ADUs sometime this year. There are a few comps in my neighborhood with ADU that are about 1.15 mil - 1.2 while the ones without is just shy of a mil. This is an angle I’ve been waiting for to repeat, we will see if everything goes to plan especially if the bid I’m working with actually stays on budget. The planning/permit stage is pretty simple with existing garages, they have over the counter plans. There’s like a weird underground world in LA with contractors and investors only working the ADU niche. I also started with Jamba Juice.
What do you think of a house up for auction for foreclosure that's a horders house? It's up for auction well below market value.
Wass Up Kevin , Thanks For The Info. I Admire How You You Became A Selfmade Buisiness Man . Keep Moving Forward !
Hi Kevin,
Can you give an update on this? Where are you in the process? Thanks.
You just got your answer for what to do with the abandoned mansion!
The coffee cup the way you were holding it looked like it said RONA
I wonder how difficult it is to buy small apartments, sounds like an interesting section of real estate
In my city in California, ADU is required to have electrical, water, sewer, and gas with main house. The law will change how my city do it’s permits, but I assume you can just connect with main house. I am planning on converting a 360 sq ft family room as a rental studio unit. I will break concrete to install a bathroom and kitchen. I expect to separate the electrical into its own electrical box and add a meter for do it yourself metering. This is because I’m living there so utilities will be covered except for electrical, internet, and cable television. At worst if I have to sell, I can add back a door and I’ll have a 5th bedroom house with kitchenette. I’m mainly considering this since I am near retirement in few years so I need to offset my high property taxes.
I converted my garage Legally last year and now charging 1200 per month.
It’s detached from my home and My lot is over 6000 ft.².
It’s worked out perfectly.
Garcia Flores that’s awesome and I’m sure that helps pay your mortgage.
Just curious, which part of LA do you live in?
Jason Walter sure does 👍
Karen Kramer Inglewood
What would you do with utility’s? RUBS system?
All seperate, the law makes it cheaper for utility hook ups
Hey Keving, on the video and on the description you are missing an E on the URL
Email list ninja, love it
My parents did this to our home because after kids left they had 3 br and a basement. Now it's 3 apartments, basement totally converted and 2 apartments upstairs. The smallest (1br, living room with open kitchen, bathroom rents for $750 and we're in the forest. The entire mortgage is $1,000.
Forced appreciation through rental efficiency wedge? Hmm 🤔
Might even be a good Airbnb opportunity as well.
No airbnb on ADU law like this sadly
@@MeetKevin Ya, the only way this could work is to build a larger ADU (2 bed?) on the same lot and use the main house as an airbnb. I think you can go up to 1100-1200 feet on a larger detached unit.
@@101realtor 1200 sq.ft. was the maximum allowable last I checked. I do Consulting for ADU's and it's been interesting seeing what you can build then and now with the new bill that came out, it's now gotten a whole lot sweeter.
@@MeetKevin In PDX an ADU allowed the city to reassess the entire house value for taxes. Oregon had tax reduction that froze assessed values in 1991, only being able to increase 3% per year. Without warning, the City reassessed peoples values - causing their taxes to double. They didn't just say the 100k house had a plus 80k assessory unit, they raised the assessed value of the old house to current market so the tax assessed value went from 100k to 400k plus added the adu value so many people had to move out of their house.
@@ssskisssss I thought it was 1000 sq. ft. for a two bedroom and 850 sq ft. for a one bedroom. I live in Burbank so I guess it's different
I'm reading that for a JADU, you have to use part of the home that is already existing. Can you theoretically add more square footage to the original home, make that 500 square foot JADU and then a detached ADU for 1200 Square feet given there's enough space on the lot?
What about houses of multiple occupancy, where you rent out the bedroom individually? This is very popular in the UK because it gets around a lot of the costs associated with creating individual flats. It does come with its own challenges and laws though but the cashflow can be 3 times as much as a single family let for the same house, so the extra management can be worth it.
The parking depends on how close you are to mass transit (bus, etc). This is a great solution to the Silver Tsunami that’s coming and provides a great solution to those larger homes that could have a lack of buyers in the near future. I’ve had one neighbor that turn a garage to a studio and there is also a two story with multiple families which will likely become a trend with a lack of affordability. ADU’s can be a great solution!
In California DON'T EVER RENT TO SECTION 8 Recipients - You'll be SORRRYY!!! if you do! There is no money in it and hard to get rid of them.
During the pandemic, only sect 8 renters were getting paid. Lol
If you get a permit to build a garage behind a house then turn it into an adu after construction does that simplify or complicate things? Not sure how difficult it is to permit garage construction
That’s going to be a nightmare with some of the new landlord tenant laws.
I started helping people buy their unit in a duplex, triplex, fourplex. Next is to start buying single family, turning it into a multiplex and selling each unit kinda like a condo.
Wow. Turning a SFH into a money machine!
Why you moved from S Florida to California. Was it higher price houses?
Hi Kevin, just recently watched your TH-cam posted 2 years ago and want to learn how can you turn a single family house into triplex that mean you built two ADU’s. I am in CA Los Angeles, I am in the process of waiting for city approval my plan to convert a two car detach garage to adu, do you know how can I build another adu in my empty back yard lot as I want to rent out three units after building adu. Is it required you have to live in main house during construction?
*I'm looking to get my first real estate deal here I Maryland* 💪😎2020
Black Vito - Moneyology I’m hearing MD has good deals
@@monkeybearmax some locations for sure
Black Vito - Moneyology where in MD are you located in?
@@randomquacker9653 I live in the "greater baltimore" region, but I'm looking to invest in my old town, I should be releasing a video about it today, unless it takes 3 years for it to upload to TH-cam 🎭
@@Je.rone_ You have to in Baltimore. 👍
Does this new law apply for the state of Oregon?
This adu and Jr adu could add to a higher property tax?
It's a good opportunity for additions mostly. All new construction will be mandated to provide a full solar panel system to replace 100% of the electricity required by the new ADU. Then there are other CalGreen and Energy Code requirements that will require thicker insulation so instead of 2x4 studs for walls, we'll be seeing a lot of 2x6 studs. The solar panels will be going up in price because of demand.
I just bought my first house in San Diego with the sole purpose of building an adu in mind. So excited
You have that kind of capital to work with or was it financed? Difference in financing and purchasing
I own a home in SD too and looking to build an ADU. I have found that jADU in SD require owner occupancy.
Congrats!
Is there something you could do to make the ADUs more attractive to older renters to try to reduce turnover? Would making them ADA compliant help to attract more stable tenants?
I love this idea from you. It makes a lot of sense for that addition. So the addition was permitted? We have similar city rules in Austin to allow more affordable housing. I intend to take advantage of this with my extra lots 5 miles from Austin.
yes it was :D
Do you ever use the light saber behind you?
My current home. Bought as a multi family home. Has 2 addresses and 2 meters. Soon, going to rent both parts of my house out. I do have a large detached shed!!!! 🤔 already has power, and heat and air lol. My driveway is long and has 2 covered carports. I can park 5 cars in my driveway. Oof.
Are you going to add this as a section in detail to the course?
Definitely an overview of pros and cons will be added - can’t promise in detail because I might decide against doing it myself but then I’d explain why
This adu info was very helpful. I’m curious how you handle utilities for a single house that is for example turned into triplex. Do you then have to get three of everything (ac, water heater, electrical panel, etcetera).
Probably not. The costs are either included in rental price or they pay a percentage of the bill.
@@PoodleParti wrong, he's talking about a seperate apartment not an additional sq ft, you'd need separate everything for it to have its own address
Hey Kevin question. How much squre feet do you need in a home to convert it to tri plex or 4 plex? is 2500 to small?
This one is 2000!
@@MeetKevin Thanks, I been thinking about this for long time now. Trying to envision a lay out that works and is profitable but I never known what kind of Squire feet to look for.
Should I put tile in my kitchen or just do the same vinyl throughout the house?
Joey E same unless it's there already
Do they have a ADU law in NYC ?
So I haven't seen your videos in a few months and just wanted to say WOW! Not only have you increase the quality of video, but also lighting . Good job!
Thank you!!
can you do this retroactively as in you already have the unit and now you just need to make it legal with the permits?
In California, with these new laws they are letting owners bring these units up to code.
Did you disable auto focus. looks like you did. nice.
Depending on the area I can see paying 1400 for the Conv garage, the 2 car driveway would be a hard sell though, especially if any of your tenants spouse, bf/Gf had a car too, thanks for the video!
What happens when the fire marshal in the area are you on the House decides they want to have fire sprinklers installed in the house there goes your profit
What about putting a tiny house in the backyard? I wasn't sure if it was allowed before, but now is it?
This law doesn't appear to apply to new construction, rather existing living spaces.
It depends on the city. Here in Fresno, Tiny homes are counted as the separate ADU, meaning you could still turn the garage or part of the house into a JADU and have your triplex. I heard Los Angeles did the same thing, but you'd probably want to confirm. This might be a smart play for investors who are worried about the exit strategy. Removing a THOW from the backyard to sell the property is going to be a whole lot easier than if you build a structure.
Can you do this in Wisconsin?
Kevin, why don't you ad you that 9000 square foot mansion from the previous video?
Would it be wiser/legal to have a communal laundry area for a triplex?
Install coin operated laundry. Had a roommate do that before to offset the costs
Can I do this to any zone?
at @0:10 is that a framed picure of a osrs coin stack left top?
@Derick G cool
Im assuming you might need to increase water, gas, and electric service depending on what the house already has. More kitchens and bathrooms need more utilities
It will have its own meters, I looked into this a while back, it's been my plan