Matt Porcaro
speaker
689 appearances
2 recordings
1 series
first heard Nov 2024
last heard 1 May
Matt Porcaro’s voice in public audio — every appearance, attributed to the second.
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recordings per month · last 12 monthsRecordings per month over the last 12 months — 1 in all, peaking in May 2026 with 1.
Appearances
And it's super lucrative.
But what I was alluding to before with the ADUs is the beauty of it is if you're just starting out too, right?
Kevin is doing like brand new builds and across the country, like in New York, people aren't doing like separate ADU builds, but we are doing basement apartments, split level home conversions.
garage conversions.
Like if there's already a space that exists, that's the sweet spot because you don't have to reinvent the wheel.
It's usually already set up so that you can accommodate it and you actually don't have to spend a lot of money.
Yeah.
Right.
Usually when people want to pull out equity from their house, banks look at loan to value, right?
So banks traditionally, even on your own home, will only lend up to 80% total.
So if you have a mortgage at 75%, all that's left is 5%.
Even though you have $300,000 of equity, with a home equity loan or home equity line of credit or something like that, you're only able to access up to 80%, sometimes 90%, but then they're going to kill you on rates, right?
Paying 8%, 10%, and then it's interest only and balloons and stuff like that.
Right.
The 203k is a 30 year fixed.
You can refinance with those to build ADUs, add dormers, add square foot, whatever you want to do.
But the beauty of the 203k is you could leverage up to 110 percent of the ARV of the property.
So you can actually over leverage it by 10 percent.
Now, obviously, us being investors, we wouldn't want to do that.
Right.
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