Financial Planning For An Accessory Dwelling Unit | Real Life Planning Podcast Episode 63
Real Estate Coaching Financial PlanningIn Episode 63 of the Real Life Planning Podcast, Cynthia Meyer, CFP®, CFA®, ChFC® explores how homeowners can turn their backyard into a source of income by building an accessory dwelling unit (ADU). From financing strategies to tax planning, she walks through everything you need to know before breaking ground on your ADU project.
" Creating an accessory dwelling unit is a powerful form of house hacking—it’s a way to generate income from the home you already own.” - Cynthia Meyer
This week on Real Life Planning Podcast:
| 💡 | What qualifies as an accessory dwelling unit—and why more cities are encouraging them [00:01:09] |
| 💡 | What are some typical types of ADUs? [00:04:08] |
| 💡 | What are the most common ways to finance an ADU project? [00:08:24] |
| 💡 | Tax planning when renting out an ADU on your property [00:13:26] |
| 💡 | What should you consider before becoming a landlord of an ADU? [00:15:09] |
Takeaway Quotes:
"You want to check all the rules in your area and make sure that you fully understand the ADU process before you break ground."-Cynthia Meyer
"As your needs change, so can the purpose of your ADU—what starts as a rental could become housing for aging parents or grown children."- Cynthia Meyer
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About the Real Life Planning Podcast
Hosts Cynthia Meyer and Vekevia Tillman-Jones explore practical steps for real estate investors to build financial freedom and make working for someone else optional.
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