Meet Paul Wells, an experience semi-retired real estate developer and leader in the ADU movement.
What's an ADU, you ask? It's an Accessory Dwelling Unit.
Granny Flats, Casitas, Mother-in-Law Units, Backyard Houses, Guest Houses - whatever you'd like to call them, Paul has seen and done it all in the ADU space, and we're extremely fortunate to have had Paul on the podcast for an informative chat about ADUs.
The laws and the policies that bring ADU to life are still developing every day. Some municipalities actively encourage ADUs, while others are still working out their opinions.
Paul and Rory have an excellent conversation about where ADUs are working quite well (California and Colorado, for example), helping solve housing shortages, barriers of entry, retaining generational wealth, and supplying ways for generations to remain together on the same plots of land. They discuss the benefits of having professionals that understand the process of working with a city and a county, not just to get building permits, but to create effective and efficient designs that makes sense to that municipalities involved.
Fast forward to about 28 minutes into the episode, and you'll hear Paul detail the steps and questions that he asks all of the people who contact him asking: "I'd like to build an ADU - where do I start." It's a fascinating list of questions and considerations!
-- What is an Accessory Dwelling Unit?
-- How Paul stumbled into the ADU world
-- What world events caused Paul to pivot into real estate full-time
-- How massive action can lead to massive success
-- Paul's success with foreclosure and "subject to existing financing" investing
-- The value of mentorships
-- The 4 primary types of ADUs (+ a bonus type - Fonzie Flats!)
-- The big roadblocks to building ADUs, even where it makes perfect sense
-- Why it's important to learn the ADU regulations for your city and county
-- Why should a community turn around and actually embrace ADUs?
-- Multi-generational living and how ADUs might be a better option than senior living
Paul on Facebook - https://www.facebook.com/paul.wells.96387
Paul on Instagram - https://www.instagram.com/coloradopaul007/
ADU Class - aduclass.com
Email Paul - workingcolorado@gmail.com
Join Jason Muth from Straightforward Short-Term Rentals and Attorney / Broker Rory Gill of NextHome Titletown and UrbanVillage Legal in Boston, Massachusetts for another episode of The Real Estate Law Podcast!
#realestatepodcast #nexthome #humansoverhouses #realestate #realestateinvesting #grannyflat #realestatelaw #accessorydwellingunit #building #adu #casita #guesthouse #backyardhouse #adurules
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