Question 1

What prompted David and Gary to start Wealth Nest?

Accepted Answer

Gary got the idea when he wanted to install an ADU on his property for his mom..

The companies he met with were all good at one part of the ADU process, but none of them had mastered the process as a whole.

As developers, Gary and David pride themselves on being "jacks of all trades and a masters of none." In other words, while they may not design the house, engineer the plans, build the structure or operate the equipment, they sure do know who to call to get the job done right. They have built a successful career in managing a complex and evolving process and have cultivated lasting relationships in trades spanning the entire development lifecycle.

Seeing a void in the market, Gary and David decided to expand their strategic business plan to include serving homeowners looking for a great ADU partner.

Question 2

What exactly does Wealth Nest do?

Accepted Answer

We're a turnkey solution. We can handle everything for you.

That includes helping you in choosing and designing your ADU, managing the feasibility study, overseeing site prep, dealing with permitting, completing the installation, and more.

Let us know what you need, even if it's just one component. We handle every detail, start to finish.

Question 3

What markets do you operate in?

Accepted Answer

We currently offer our full suite of services in Ventura County, as well as parts of Los Angeles and Santa Barbara counties.

We offer sales and guidance on a case-by-case basis outside of those markets, so feel free to contact us with any specific questions.

Question 4

How can I talk to someone?

Accepted Answer

Fill out the information via the link below or call us directly at 987-654-3210

Question 5

How much does this really cost?

Accepted Answer

It depends!

Since no two properties are identical, we can't in good faith give you a guaranteed turnkey cost without spending a lot of time and effort studying your specific situation.

Variables include the type of unit you want, the options or upgrades you decide on, how much site work is needed, etc. Once you decide to move forward, we can provide a ballpark assumption, then start to refine that number as we move down the process together.

However, rest assured that you will have a complete budget before you sign a contract to build your ADU.

To better understand additional costs and considerations that accompany installing an ADU, take a look at our site improvement table.

Question 6

Do you use an escrow company?

Accepted Answer

100% yes.

An escrow account protects each and every customer.

Question 7

Is Wealth Nest licensed and bonded?

Accepted Answer

Yes.

Wealth Nest is a licensed general contractor (Lic. No: 976458) and is insured.

Question 8

Can an ADU be used as a rental property?

Accepted Answer

Absolutely.

Question 9

Do you have a model complex where I can see the ADUs?

Accepted Answer

We do not, though we hope to in the future.

Question 10

What sort of financing is available for ADUs?

Accepted Answer

Homeowners typically use existing equity they have  in their property to fund the purchase and installation of an ADU.

Another option is a conventional loan from a lending institution.

We have several financing options we can introduce you to. Get in touch if you'd like more information.

Question 11

How do I evaluate my ADU as an income property?

Accepted Answer

We can help.

To begin with you need to have an idea of what you can rent the unit for.

There are many resources available online to help gauge what similar units are renting for in your area (commonly referred to as the "scheduled gross revenue"). After you account for eventual vacancies, the resulting estimated income is referred to as "adjusted gross revenue."

From the adjusted gross revenue ...

Add in additional income sources (laundry services, pet rent, parking). 
Subtract operational expenses (utilities, property taxes, maintenance, management). In the case of an ADU, the tenant may or may not cover most of those costs.

The resulting income is known as net operating income (NOI).

If you don't have a loan on the ADU, the net operating income is how much money you actually get from the rent.

If you have a loan, then you pay the monthly loan payment, or "debt service," from the NOI. Whatever money is left after the debt service is your distributable cash flow that can go into your account.

An important metric to consider is how much your ADU costs compared to your NOI (adjusted gross revenue + added income - expenses = NOI).

When you divide the annual NOI by your project cost, you get your return on cost (ROC).

The ROC can be thought of like the interest you get on your money at the bank. If you get 4 percent on your money at the bank, and you get 7 percent ROC from your ADU, on the surface the ADU seems like the better use of your money, since you are getting 3 percent more return on the same amount of money.

Please speak to your CPA to more fully evaluate the financial implications of using an ADU as an income property, as there are many other factors to consider beside your NOI and ROC when making that decision.

Question 12

Is there a home warranty?

Accepted Answer

Absolutely.

Each ADU comes with a warranty backed directly by the factory. Wealth Nest is happy to help facilitate the process if needed.

Question 13

Does Wealth Nest build the ADUs?

Accepted Answer

No.

We have made strategic alliances with trusted and established manufacturers that build the ADUs in a factory.

While there are numerous benefits to this process, one of the standout features we like about this process is that the units are nearly ready to live in as soon as they're delivered. (In some cases our set-up, touch-up, and cleanup crews can have a unit ready to live in as quickly as a week.)

Question 14

What exactly is "site work"?

Accepted Answer

Installing an ADU can be broken into 2 main areas, the ADU itself and site work.

The ADU is the physical living space. Site work is all the work that needs to be done to the property in order to correctly install an ADU and connect it to essential utilities.

Question 15

What is an ADU?

Accepted Answer

An ADU, or accessory dwelling unit, is a secondary unit located on the same property as a primary single-family home.

ADUs are commonly referred by a number of other names, such as "granny flats," "in-law units," "secondary units," "backyard cottages," "carriage houses," "guest houses," "mother-in-law suites," "garden suites," "tiny houses," "backyard office," "private artist's studios," and "meditation rooms."

These units come in various forms, including detached structures, garage conversions, or additions to the main house, and typically feature their own kitchen, bathroom, and living area.

ADUs offer a practical solution to housing shortages, provide additional income opportunities as rental units, serve as adaptable living spaces for extended family members, or even provide much needed added living space for a growing family that does not want to move into a new home.

Question 16

How much do ADUs cost?

Accepted Answer

The cost of an ADU, just like a traditional home, can vary depending on the size of the unit and the materials used.

We have established a strategic alliance with two respected factories located in Southern California to provide a full range of pricing options.

We'll most likely have a unit that fits your needs, whether it's a top-level high-end spec unit your parents would be happy to call home or a more value-based option that will offer faster returns on your investment.

Visit our model catalog to design and price you ADU now.

Question 17

How much time does it take until I can move into my ADU?

Accepted Answer

While each case is unique, we estimate an average timeline to be between 4 and 9 months from start to finish.

Here's what we've done to expedite the process:

Permitting: We work with established factories that have mastered the construction process and reached a level of efficiency no onsite built builder can match.
Plans: Ours are approved at the state level, which means we can avoid the plan-check process that can take more than 6 months. 
Off-site builds: Since the homes are built off-site at a factory, we're able to begin our site work during ADU construction. Additionally, weather never affects the construction timeline.

Question 18

Where can I find a list of standard or included features in the ADUs?

Accepted Answer

In addition to factory-provided features, Wealth Nest offers a special "Wealth Nest Premium Upgrade" package. This is a special suite of upgrades, such as paint, exterior siding, accent walls, cabinetry, fixtures, lighting, etc. added after the ADU is installed on-site.

You can select the Wealth Nest Premium Upgrade package during the building and pricing process.

Check out our catalog of ADUs.

Question 19

How can we make sure the ADU fits on my property?

Accepted Answer

It's one of the first steps we take.

We deploy specialized software to analyze your property and evaluate its suitability for an ADU, taking into account things like lot size, setbacks, and existing structures.

Once you decide to move forward with a particular ADU, we'll conduct an in-depth feasibility study to better familiarize yourself with your property and any applicable local laws and regulations.

Finally, we'll do an actual on-site assessment to confirm access, topography, utility locations, and whether a truck or crane will be needed to bring the ADU into your property.

FAQ's

What prompted David and Gary to start Wealth Nest?

What exactly does Wealth Nest do?

What markets do you operate in?

How can I talk to someone?

How much does this really cost?

Do you use an escrow company?

Is Wealth Nest licensed and bonded?

Can an ADU be used as a rental property?

Do you have a model complex where I can see the ADUs?

What sort of financing is available for ADUs?

How do I evaluate my ADU as an income property?

Is there a home warranty?

Does Wealth Nest build the ADUs?

What exactly is "site work"?

What is an ADU?

How much do ADUs cost?

How much time does it take until I can move into my ADU?

Where can I find a list of standard or included features in the ADUs?

How can we make sure the ADU fits on my property?

Work with Us

SITE

FAQ's

What prompted David and Gary to start Wealth Nest?

What exactly does Wealth Nest do?

What markets do you operate in?

How can I talk to someone?

How much does this really cost?

Do you use an escrow company?

Is Wealth Nest licensed and bonded?

Can an ADU be used as a rental property?

Do you have a model complex where I can see the ADUs?

What sort of financing is available for ADUs?

How do I evaluate my ADU as an income property?

Is there a home warranty?

Does Wealth Nest build the ADUs?

What exactly is "site work"?

What is an ADU?

How much do ADUs cost?

How much time does it take until I can move into my ADU?

Where can I find a list of standard or included features in the ADUs?

How can we make sure the ADU fits on my property?

Work with Us

SITE​​​​

SITE