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About this episode:
In this eye-opening episode, Thach Nguyen reveals pivotal insights on increasing property value through the strategic integration of Auxiliary Dwelling Units (ADUs). With real estate markets across the United States experiencing severe housing shortages, the demand for creative financial strategies has never been higher. Thach's hands-on approach, backed by considerable experience in cities like Seattle and California, sheds light on how ADUs are revolutionizing the housing market.
Thach offers a compelling breakdown of the costs associated with building an ADU, emphasizing the importance of factors like planning, permitting, and structural engineering. Notably, he underscores the game-changing potential of having two separate tax ID numbers, enabling property owners to sell each unit independently. The discussion encompasses everything from the soft costs of preparation to the intricacies of construction and finishing, culminating in a detailed financial overview that will benefit both novice and seasoned investors.
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Thach Nguyen has come a long way since arriving in America at age 4 with his parents, four brothers, and sister in 1975. Focus, drive, determination, and great mentors paved the way for him to go from a homeless refugee to a multi-millionaire.
Thach is the CEO & Founder of Thach Real Estate Group and principal of Springboard to Wealth. He is not only a seasoned realtor, investor, coach, author, and speaker, but also a proud ambassador of the American Dream. During his 30 years in the real estate industry, he has built more than 300 homes, townhouses, multifamily units and completed over 100 flips, and owns over 100 rental properties giving him over $100,000 a month in passive income. Thach and his team have assisted more than 1,500 families to create their own American Dream of home ownership, ranking him in the Top 1% of all real estate professionals nationwide.
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Timestamps:
0:00 - Boosting Property Value with ADUs in High-Density Areas
2:06 - Understanding Soft Costs for Building an ADU in Seattle
3:03 - Maximizing Property Value with ADUs in Seattle
6:32 - Cost Breakdown of Building a House in Seattle
10:07 - Teaching ADU Strategies and Insights for Seattle Area
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