PASSION PROJECT - ADU (1st of many)

[Tuan Huynh]

Hello BP Community,

My name is Tuan Duke Huynh and I am rookie investor trying to make a difference, one family at a time.  My wife and I just started our Real Estate Investment adventure and we are excited to share our mission with you.  

Back Story:

Both of our families are immigrant who came to California for better life.  My family is from Vietnam and my wife's family is from Mexico.  We both grew up in low income household and stayed in section 8 housing for most of our childhood.  We both graduated from Cal State University of Northridge, CSUN, and are grateful to have careers that have helped us to thrive.  I am a high school math teacher and my wife is marriage and family therapist.  We have been discussing about investing for almost 2 years but didn't have the motivation to pull the trigger.  It wasn't until I heard Joe Asamoah on one of the BP podcasts that changed the way I look at Real estate investing, forever.  Joe basically spoke about specializing on the homes for section 8 tenants.  He emphasized on providing homes for low income families in safe neighborhoods where they can truly call it home.  A place where they can raise their children and feel safe and sound.  Joe truly inspired me and helped cultivated my life mission for becoming a real estate investor.  I WANT TO PROVIDE AFFORDABLE HOUSING for the low income families, like how my wife and I grew up.  I want for families to feel safe and have a sense of proud "rentership" in their new home.   We are grateful that life has brought us many opportunities and blessings and we want to pay it forward.

My first Passion Project - ADU for low income senior citizen

California has become very expensive to live. Furthermore, Covid 19 has caused rent to soar and making it even harder for people to find decent housing. The senior citizen population, who live off social security, have barely enough to pay for rent and food. Some of them even end up living on somebody's couch or in the street. For my first passion project, I am working with a program call LA ADU ACCELERATOR. It's a California state funded program that provides affordable housing for at-risk senior citizens. Under the program, 30% of the rent will be paid by the tenants and the local government will cover 75%. This is a program intended to prevent homelessness in our older population. I converted my garage into an ADU so that I can provide a safe place for people to live. I want to provide a place where they can live and happy. I have learned a lot with this experience and want to share with you. If you have any questions about the process please feel free to reach out to me.

Here are the transformation picture.

Description of the ADU

400 Sq foot

French Door Entry

1 Bedroom

Laundry Room

Vaulted Ceiling

Personal outdoor patio area

Here are some questions I have and would really appreciate your input.

1. How can I put this ADU into an LLC? Or any form of asset protection. Since this unit is considered an addition to my primary residence, it can't hold it's own title, thus being the reason I can't put it into an LLC.

If any of you have any experience with this, please reply.  Thank you!!

Tuan