I recently completed one on a multifamily property and found it to be a cost-effective approach.That said, there are a couple of additional factors to consider beyond the code differences between a garage conversion and new construction:Coastal Overlay Zones – If your property is in a coastal overlay, building a ground-up ADU may require Coastal Commission review, which can add time and complexity to the process.

Also for time being cancel the premium subscription as that will also probably get them to reach out to you

Unfortunately, timing was about 2 months late and the market went dormant for larger homes in our area around late August when we had the home finished.

This is supposed to increasesignificantly later this year as I transition to full-time in thesame position, but my employer won’t give me a date for this yet.My credit score is over 650 and I have about $200K in savings.

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this works well if the tenant is a national user or multi unit operator who has built these buildings many times. 

There are people who buy a longer term (12 months or more ) OPTION giving them a RIGHT to purchase a subject property, at a certain price, within a certain amount of time, and attempt to either sell the option for a higher price or close on a simultaneous purchase and sale to an end buyer paying a higher price.  

For a first time investor, I definitely recommend house hacking for most people as homeowner loans are by far the best in terms of rate and LTV. 

The process takes about the same amount of time since an appraisal and title work is generally still required before underwriting and funding the deal. 

Most of the time, an ADU will cost 100k just for that part and then you have to actually build the cosmetic part for an additional 40-50k.