Ed Ratinoff
Director
James Investment Partners

Edward Ratinoff is Managing Principal and founder of James Investment Partners and co-heads all acquisitions and capital-raising activities. Ed currently serves on the board of directors of Axos Financial (NASDAQ: AX) and served on the board of directors Maguire Property Trust. Ed previously oversaw the national acquisitions effort for PRG, an institutional real estate investment fund sponsor with activities in California and New York. Ed also held the position of Managing Director and west coast head for the J.E. Robert Companies where he was responsible for all equity and debt transactions throughout the western US for the firm’s real estate investment funds and was a member of the investment committees for both JER Partners and JER Investors Trust (NYSE: JRT). During his tenure Ed led the acquisition of approximately $1.0 billion in assets representing multiple real estate sectors and geographies. Prior to joining JER, Ed held senior positions focusing on real estate investment banking with McDonald Investments, Chase Securities and BT Alex. Brown, executing public and private capital markets transactions for west-coast based real estate companies. Ed also served as Principal with FowlerFlanagan Partners, where he was responsible for the acquisition, financing and development of real estate assets, and as Project Manager for the Paragon Group, where he was responsible for the development of office and industrial projects in the San Francisco Bay Area. Ed received a BA in Architecture and City Planning from the University of California, Berkeley, and an MBA from the J.L. Kellogg Graduate School of Management at Northwestern University.

How are you participating in the ADU market? Building in new home developments, institutional SFR rentals, multifamily or to retail single family owners?
We have added and are adding ADUs to our existing apartment portfolio in California.

What is the most exciting new regulatory development that has recently been passed?
Upcoming amendments we understand that will allow even more units.

What are some pitfalls that any one new to the ADU market needs to be aware of?
Costs for upgrading the entire property as a result of the ADU approval (upgraded electrical and plumbing in particular).

Please describe your last ADU project?
Added a studio unit to an old pool equipment room/storage room.

How many bedrooms, square footage and which amenities have you found to have the most ROI?
ROI dependent on market and existing infrastructure, not dependent on number of bedrooms, etc.

Vacation, concert, show, ball game… Any fun summer plans coming up?
Travel to Europe like everyone else!

Don Ganguly
CEO
Griham Living

Don is a serial entrepreneur and has founded a number of successful companies in the real estate and technology space. He founded Equinox, a leading Residential Mortgage Process Outsourcer that serviced over $75B of loans and was acquired by Iflex/Oracle. He also founded Homeunion, an online real estate investment platform that did over $1.2B of retail and institutional investment transactions. The company was acquired by Mynd where Don most recently headed Institutional Growth and helped grow the Management platform to over $2B in Single Family Rentals. Don is a Housing Wire Vanguard Award winner. He is a movie buff and enjoys reading, traveling and writing plays and scripts.

How are you participating in the ADU market? Building in new home developments, institutional SFR rentals, multifamily or to retail single family owners? 
Building for single family home-owners and working on Institutional SFR rentals.

What is the most exciting new regulatory development that has recently been passed? 
CA regulations that provide ministerial approvals of ADUs so that local jurisdictions cannot reject it. Also, ADUs can now be sold separately as condos. 

What are some pitfalls that any one new to the ADU market needs to be aware of? 
Permitting takes time and if not done right can significantly extend approval timelines.

Your favorite local ADU market is? Why? 
Cities in California with higher land values where building ADUs economically pencil out for rentals and other uses. 

Please describe your last ADU project? 
An 800 sq ft ADU in Northern California in a slightly remote area where septic, well and access where extra lifts to getting it done. 

How many bedrooms, square footage and which amenities have you found to have the most ROI? 
2 bedroom, 2 bath, 800 sq ft., kitchen island, LVP floors, granite countertops and creative storage space. People want to see creative airy well-lit designs.

Vacation, concert, show, ball game… Any fun summer plans coming up? 
Just barbecues and local trips- being in Norcal , there are lots of cool places within one hour or so of drivetime.

Justin Lee
Founder & CEO
ABI Investments

Justin Lee is the Founder & Chief Executive Officer of ABI Investments, LLC which he launched in 2003. He owns and operates several businesses throughout the U.S. Prior to becoming a real estate investor, he worked in telecommunications sales and as a mortgage broker in the Washington, DC area. Mr. Lee holds a Bachelors of Arts in both Economics and History from the Pennsylvania State University. A native of Vancouver, BC, he currently resides in San Diego, CA with his wife Dreama and 2 children.

How are you participating in the ADU market? Building in new home developments, institutional SFR rentals, multifamily or to retail single family owners? 
Converting garages into ADUs in San Diego, CA.

What are some pitfalls that any one new to the ADU market needs to be aware of? 
Draconian government laws and permitting process.

Your favorite local ADU market is? Why? 
San Diego, but only because I live there.

Please describe your last ADU project? 
Currently converting 9 garages into 4 ADUs withing an 8 (and soon to be 12) unit apartment building in San Diego.

Vacation, concert, show, ball game… Any fun summer plans coming up? 
Just got back from Greece & Turkey!

Cameron Meredith
Founding Partner
ADU West Coast

Founder/Owner + Operator (Director) of ADU West Coast, a full-service ADU design + build construction firm headquartered in Seal Beach, CA. I help investors and homeowners in Orange County & Los Angeles maximize their property value + generate rental income or house family members by building high-quality, affordable ADUs. I am a licensed general contractor with a diverse background in ADU consulting, project management, city submittals, ADU design, and construction management, I am uniquely qualified to guide clients through the entire ADU process from start to finish. I am passionate about helping others achieve their financial and lifestyle goals through building ADU's. I am involved in different housing advocate groups. Whether you are an investor looking to add to your portfolio or a homeowner looking to generate extra income or move a family member back, I am here to help and guide you every step of the way.

How are you participating in the ADU market? Building in new home developments, institutional SFR rentals, multifamily or to retail single family owners? 
I work with homeowners and investors taking them through design + build for ADU's both on multifamily and SFR properties. So both institutional SFR rentals & multifamily + retail single family owners.

What is the most exciting new regulatory development that has recently been passed?  
SB 684  https://leginfo.legislature.ca.gov/faces/billNavClient.xhtml?bill_id=202320240SB684

What are some pitfalls that any one new to the ADU market needs to be aware of? 
Its important to have the designer or architect work cohesively with the contractor who is building the ADU. You dont want to over design an ADU if you dont have the funds to build it out. Also, get your financing in order before you start anything to figure out your budget. Also always allocate more funds for unforeseen cost that might come up.

Your favorite local ADU market is? 
Long Beach & Downey Why? Both cities are easy to work with and have great planning and building departments with knowledgeable staff.

Please describe your last ADU project? 
We have a few going right now but the last one we got to final was (2) 800 sq ft 2 bed 2 bath ADU's with (2) 400 sq ft garages at a 10 unit multifamily complex in Fullerton.

How many bedrooms, square footage and which amenities have you found to have the most ROI? 
It really depends on the area and how many homes in that area have sold with ADU's. Also, what size are those ADU's? For example: building a 1200 sq ft 3 bed 2 bath ADU in an area that is showing mostly 650 sq ft 2 bed 1 bath or less for comps is not going to get the value you want if its for resale or equity. In this case the 1,200 sq ft would set the comp and would be over built for the area. If your goal is to rent it out long term then yes you will yield a higher monthly rent for a 3 bedroom vs a 2 bedroom. So you always need to find out your goal of building the ADU and dictate your strategy from there. 

Vacation, concert, show, ball game… Any fun summer plans coming up? 
Going back to visit my college for a game (University of Nebraska).

Stephanie Yi
Founder & CEO
AlphaX RE Capital

How are you participating in the ADU market? Building in new home developments, institutional SFR rentals, multifamily or to retail single family owners?
I help homeowners and investors throughout the entire journey whether it's residential or multifamily, beginning with the acquisitions or analyzing existing portfolio to design + build to property/ADU management. 

What is the most exciting new regulatory development that has recently been passed?
SB 684  https://leginfo.legislature.ca.gov/faces/billNavClient.xhtml?bill_id=202320240SB684 & AB 1033 https://leginfo.legislature.ca.gov/faces/billNavClient.xhtml?bill_id=202320240AB1033

What are some pitfalls that any one new to the ADU market needs to be aware of?
Vetting the right team and also financing the project, mainly in residential.

Your favorite local ADU market is? Why?
Long Beach, one because thats where I am from, second because they are leading the wave of ADUs, with over 600 ADUs built so far. 

Please describe your last ADU project?
I have a few we recently completed. One of my favorite projects was one in Long beach, property was originally a 4 bedroom 2 bath home. We added two ADUs, one was a jr ADU under 400 sq ft and the second was the garage conversion of 450 sq ft. This home is located right across the street from cal state long beach. We basically turned this home from an SFR to a triplex. The owner of this home is my current broker at Truedoor property management.

How many bedrooms, square footage and which amenities have you found to have the most ROI? 
Surprisingly smaller units do very well believe it or not. Specially for MTR, a lot of traveling nurses, corporate stays, millennials, college students etc prefer smaller spaces, low maintenance in great locations, those smaller ADUs under 600 sq ft do very well. Also, providing parking, some yard space, allowing pets things like that really help your ROI. 

Vacation, concert, show, ball game… Any fun summer plans coming up?  
I am heading to Costa Rica for a 7 day surf trip next week and I have a friend's wedding coming up in Puerto Rico which is one of my favorite places on earth.

Nick Arenson
Managing Director President/Homebuilding
Altamont Development

How are you participating in the ADU market? Building in new home developments, institutional SFR rentals, multifamily or to retail single family owners?  
Building in new home developments.

What is the most exciting new regulatory development that has recently been passed?  
Combined effect of allowance of ADU’s, combined with SB330 and the Housing Accountability Act, allowing projects that include and deed restrict ADU’s to obtain entitlement waivers and concessions and significantly streamline entitlement processes.

What are some pitfalls that any one new to the ADU market needs to be aware of?  
Site development limitations, costs and complications drive many decisions, and bespoke solutions are often required.

Your favorite local ADU market is? Why?  
SF Bay Area.  Multigenerational living is getting very popular, and renting out ADU’s help with expensive housing costs.

Please describe your last ADU project?  
100+ unit subdivision with 20% of units including ADU’s.

How many bedrooms, square footage and which amenities have you found to have the most ROI? 
When included within the envelope of a new build SFD home, 300-600 SF, one bedroom, one bath, great room/kitchen, separate entrance.
 

Sujata Raman
Vice President, Single-Family Housing Finance
San Diego Housing Commission

Sujata Raman is the Vice President of San Diego Housing Commission’s (SDHC) single-family housing finance programs, such as first-time homebuyer loans and grants, Accessory Dwelling Unit financing, and affordable for-sale housing. Sujata has more than 25 years of successful leadership experience in mortgage lending, loan servicing and operations at major national banks and financial technology companies. Before joining SDHC in 2017, her experience included serving as First Vice President of Home Loan Servicing and Vice President of National Sales for CIT Bank and Group Sales Manager for E-Loan. She earned a master’s degree in business administration from California State University, East Bay, and a bachelor’s degree in biology and chemistry from the University of Bangalo.

How are you participating in the ADU market? Building in new home developments, institutional SFR rentals, multifamily or to retail single family owners?  
The San Diego Housing Commission’s (SDHC) Accessory Dwelling Unit (ADU) Finance Program helps homeowners with moderate income in the City of San Diego build ADUs on their property. The program provides financial assistance in the form of construction-to-permanent loans (up to $250,000) and technical assistance at no cost that helps homeowners understand and complete the process of building an ADU. Participating homeowners may generate wealth for themselves through the increase in their property’s value and the rental income from their ADU. In addition, the program helps create affordable rental housing in the City of San Diego because the rents for the ADUs built with help from the program are required to remain affordable for seven years.

What are some pitfalls that any one new to the ADU market needs to be aware of? 
Always assemble a team of experienced professionals for the design, permitting, and construction of the ADU. Get references – especially for General Contractor, and ensure they have experience in building ADUs. Budget for unexpected cost overruns and maintain a contingency reserve of 10-15%.  

Please describe your last ADU project? 
1-br, 1-ba 499 sq.ft. detached ADU with solar. Main home had a back alleyway – so, ADU was able to be built in the backyard with its own entrance and parking space.

How many bedrooms, square footage and which amenities have you found to have the most ROI? 
2-br, 1-ba, ~700 sq.ft. due to the nature of our program where we are building ADUs that are required to remain affordable, i.e., rent-restricted, for 7 years.

Vacation, concert, show, ball game… Any fun summer plans coming up? 
Trip to Munich, Germany, to watch my football-crazed daughter’s team, the NY Giants, play. And then, traveling onward to Bangalore, India.

Matt Fogt
Partner
Allen Matkins

Matt is a multidimensional dealmaker. He combines land use, real estate, environmental, natural resource, and energy law knowledge with business acumen, negotiation skills, and rigor to address California real estate development projects from all angles. He works to get the best terms and provisions in land use entitlements and real estate transactions while managing client investment and project constraints, and takes the necessary steps to ensure his clients’ developments can proceed in a timely manner, following acquisition. EFFICIENCY AND VALUE The breadth of Matt’s experience provides unique efficiency and value for serious developers. Clients such as Rockefeller Group, Five Point Communities, Irvine Company, Kilroy Realty, Goodman, Regent Properties, MBK, and dozens more public and private entities rely on Matt’s multiple talents when acquiring, financing, entitling, developing, or redeveloping a broad range of asset types—from master-planned communities, commercial properties (office, industrial, retail), apartments, renewable energy facilities, and mixed-use projects, to airports, resource extraction, self-storage, and auto dealerships. FULL-SERVICE AND STRATEGY Matt advises clients on a broad range of issues including the California Environmental Quality Act (CEQA), state and federal resource permits, subdivision mapping, public finance, affordable housing, environmental restrictions, impact fee disputes, utility service, eminent domain, construction and consultant agreement, conservation easements, and development agreements, to name a few. He also regularly advises clients regarding prevailing wage issues and complex CC&Rs and easements. Matt is skilled at public hearings and working with government agencies to obtain necessary approvals for his clients' projects.

How are you participating in the ADU market? Building in new home developments, institutional SFR rentals, multifamily or to retail single family owners? 
I represent several owners and developers of multifamily apartment communities and master planned communities, as well as home flippers.

What is the most exciting new regulatory development that has recently been passed?
Permanent removal of owner occupant requirement.

What are some pitfalls that any one new to the ADU market needs to be aware of? 
City required recorded covenants and cities trying to impose affordable or rent control requirements.

Your favorite local ADU market is? Why?
Los Angeles, well trained staff and willing to interpret laws in favor of ADU approvals where possible.

Please describe your last ADU project?
I do several a month; currently trying to get HCD (California Department of Housing and Community Development) to prohibit or restrict recorded covenant requirements.

How many bedrooms, square footage and which amenities have you found to have the most ROI?
Seen all sizes; not sure which are the best.

Vacation, concert, show, ball game… Any fun summer plans coming up?
Taking my 2nd daughter to college 

Taylor Hansen
Director-Asset Management
Decron

Taylor Hansen is an accomplished asset management professional with extensive experience in commercial real estate, including multi-family, retail, and office. Currently serving as the Director of Asset Management at Decron Properties in Los Angeles, Taylor leads complex redevelopment and development projects, including a pipeline of over 80 Accessory Dwelling Units (ADUs) and over 500 units via traditional entitlement. Previously, at AvalonBay Communities, Taylor directed significant capital investments, demonstrating expertise in renovations and strategic asset management. His career began at Gap Inc. and PricewaterhouseCoopers, where he honed his skills in real estate financial analysis and modeling. Taylor holds a B.A. in Economics and Accounting from the University of California, Santa Barbara, and is a licensed CPA. In his free time, Taylor enjoys snow skiing, hiking, and spending time with his family.

How are you participating in the ADU market? Building in new home developments, institutional SFR rentals, multifamily or to retail single family owners? 
Multifamily.

What is the most exciting new regulatory development that has recently been passed? 
This bill has only passed in the CA Senate so far, but SB1211. This bill would allow up to 8 detached ADUs per multifamily lot (an increase from the current code of 2 ADUs per lot).

What are some pitfalls that any one new to the ADU market needs to be aware of? 
Square footage thresholds for impact fees (school fees: >500SF; most other impact fees: >750SF). Some cities/utility companies require a new electric meter for each ADU. Soils report is often needed for ground-up ADUs (typically an additional $5-10k). ADUs could be subject to rent control based on jurisdiction.

Your favorite local ADU market is? Why? 
The city of LA typically has a reasonable timeline for plan check. Unfortunately, their clearance process adds time at the end of the process. Also, attached ADUs added to an existing LARSO structure are also subject to LARSO (including rent caps). We recently had a modular ADU in the City of Carlsbad (procured through Villa Homes) that moved very quickly through permitting.

Please describe your last ADU project? 
For Decron, I am responsible for over 80 ADUs completed, under construction, and in design/permitting.

How many bedrooms, square footage and which amenities have you found to have the most ROI? 
Typically, a high quantity of ADUs, with each unit being smaller square footage will drive the best ROI.

Vacation, concert, show, ball game… Any fun summer plans coming up? Nothing major upcoming! 
My wife and I just got back from Spain and Portugal. Looking forward to spending time at our family reunion in North Carolina later this month.

Christian Spicer
Founder & CEO
SDRE Homebuyers

Christian Spicer is the founder and CEO of SDRE, San Diego's premier residential infill real estate developer. Spicer is also the co-founder of Pro-Cal Design and Engineering, a leading architectural and engineering design firm, as well as the co-founder of Vertical MVMT, a Class A & B general contractor. Spicer has over 18 years of San Diego real estate experience, evolving from humble property management roots to full-fledged investor-backed development projects.

How are you participating in the ADU market? Building in new home developments, institutional SFR rentals, multifamily or to retail single family owners? 
We are actively building new units and ADUs, focusing on providing housing to meet the growing demand in California and San Diego. Our goal is to create a new type of product suitable for the tenants of the future. We are building well-integrated living spaces that enhance the overall community while addressing the critical housing shortage in the region.

What is the most exciting new regulatory development that has recently been passed? 
AB 1033 stands out as a game-changer. This legislation allows for the partition of property in kind by permitting ADUs to be sold separately from the main residence. It eases the building and safety standards for ADUs compared to new construction or remodels. This creates a unique opportunity for developers to bring much-needed housing to market more rapidly. 

What are some pitfalls that any one new to the ADU market needs to be aware of? 
One major pitfall is dealing with utility providers, who can be slow and unmotivated. It's crucial to start your dry utility planning as early as possible to avoid delays.

Your favorite local ADU market is? Why? 
San Diego, specifically the neighborhoods of Clairemont and Linda Vista, are our favorites. These areas are residentially dominated and ripe for infill development, offering great opportunities to integrate ADUs seamlessly into the community. The existing infrastructure and strong demand for housing make these neighborhoods ideal for our projects. The flexibility provided by AB 1033 further enhances the attractiveness of these areas for ADU development.

Please describe your last ADU project? 
Our latest project was located at 4674 Firestone in Clairemont, where we completed 12 units. We started by remodeling the existing house and converting the garage into an attached ADU. In the backyard, we built 10 new ADUs, five of which are designated as affordable housing. This project not only provided additional housing but also revitalized the property and contributed to the neighborhood's vibrancy.

How many bedrooms, square footage and which amenities have you found to have the most ROI? 
We have found that one-bedroom units with in-unit washers and dryers, air conditioning, and outdoor living space offer the best return on investment. These units maximize the number of livable spaces while maintaining a comfortable and efficient living environment, appealing to a broad range of renters.

Vacation, concert, show, ball game… Any fun summer plans coming up? Nothing major upcoming! 
I'm looking forward to The Always Concerts including Mission Bayfest and Stick Figure at Rady Shell. Of course I'll be cheering on the Padres in the playoffs.

Andrew Slocum
Principal
Green Development Company Casitas

How are you participating in the ADU market?
I’m actively involved in the ADU market by designing, permitting, and building multifamily ADUs. Our projects range from small investors to large-scale developments for billion-dollar REITs. We’re focused on providing a full-scope service that caters to a diverse client base, ensuring that ADUs are integrated into both new developments and existing properties.

What is the most exciting new regulatory development that has recently been passed?
One of the most exciting regulatory developments is the update to state legislation that allows unpermitted structures to be converted into ADUs. This change has opened up new opportunities for property owners to add value to their investments while also increasing the housing supply in a streamlined manner.

What are some pitfalls that anyone new to the ADU market needs to be aware of?
A major pitfall for newcomers is assuming that local government agencies fully understand the ADU process. Navigating the permitting and approval stages can be challenging, and it’s crucial to be proactive and well-informed to avoid unnecessary delays and complications.

Your favorite local ADU market is? Why?
Long Beach is my favorite ADU market due to the speed and efficiency of their process. The local government has streamlined their approach, making it easier and faster to get projects approved and underway, which is a huge advantage for developers and property owners alike.

Please describe your last ADU project.
Our most recent ADU project involved converting existing storage space in a mid-rise building in Downtown LA into four ADUs. We utilized the ADU shot clock to push for streamlined updates to the building, which allowed us to optimize the conversion process and deliver the units efficiently.

How many bedrooms, square footage, and which amenities have you found to have the most ROI?
We’ve found that 800 square feet, 2-bedroom, 1- or 2-bathroom units offer the most return on investment. These units are versatile and appeal to a wide range of tenants, making them a strong choice for both rental income and long-term property value.

Vacation, concert, show, ball game… Any fun summer plans coming up?
Summer is almost over, but I’m excited for the F1 in Mexico City. It promises to be a great blend of business and pleasure!

Bill Winn
CEO
Starboard Realty Advisors

William Winn is an experienced CEO with an impressive track record in the commercial real estate industry. Since 2014, he has been at the helm of Starboard Realty Advisors, LLC and Starboard Management Services LLC. With 31 years of expertise, Mr. Winn has excelled in acquiring, managing, and developing a diverse range of properties, including multifamily, retail, office, and industrial spaces. Notably, Mr. Winn spent 16 years at Passco Real Estate Enterprises Inc. and Passco Companies LLC, where he served as a senior partner and President. During this time, he oversaw the successful structuring, funding, and management of investments for over 5,000 investors, acquiring a staggering 9,000 multifamily units. Furthermore, Mr. Winn’s leadership played a key role in Passco’s involvement with forty-six real estate programs from 1998 to 2005, raising over $426 million from more than 2,800 investors. These programs included a diverse portfolio of properties, such as shopping centers, industrial properties, and multi-family residential spaces. Apart from his tenure at Passco, Mr. Winn served as the CEO of ValueRock Realty Partners, where he managed and operated a portfolio of 24 retail properties primarily located in southern California and Hawaii. Prior to these roles, Mr. Winn honed his expertise as a Property Manager, Asset Manager, and Regional Manager at Charles Dunn Company. During his time there, he earned prestigious designations like Certified Property Manager and Certified ScrumMaster. With a wealth of experience and a proven track record of success, Mr. Winn continues to drive Starboard Realty Advisors and Starboard Management Services to new heights in the commercial real estate investment landscape.

How are you participating in the ADU market? Building in new home developments, institutional SFR rentals, multifamily or to retail single family owners?
Multifamily properties in the counties of Los Angeles, Orange County, and San Diego. We also participate in single family properies in the city of san diego, where the property is not located in primarily a single family neighborhood. 

What is the most exciting new regulatory development that has recently been passed?
We are closely watching SB-1211, just like everyone else, since it increaes the number of units that can be added to an existing mulfamily dewelings, from 2 detached to 8, depending on layout and existing unit count.

What are some pitfalls that any one new to the ADU market needs to be aware of? 
Provide parking even though you are not required, try not to eliminate parking even though you can, make sure the city would allow 2nd story ADUs (i.e. Garden Grove, Anaheim, and Westminster do not), start early on the utilities, especially power, and know the bottlenecks at the city. 

Your favorite local ADU market is? Why? 
City of San Diego because of the local bonus ADU program, and high rental markets such as Costa Mesa, North Park, and Encenitas. 

Please describe your last ADU project?
Triplex in North Park, San Diego. Will be building 3-4 additional units on the lot with at least 1 additional parking per unit. 

How many bedrooms, square footage and which amenities have you found to have the most ROI?
Either smaller 1 bedrooms or 3b/2b units depending on the area. Rent/SF is higher for smaller units and the spread is unproportionally wider, in dollars, when comparing  3 bedrooms units to 1 beds and 2 beds. We believe having an in-unit washer/dryer and 1-2 parking spots per unit would provide the biggest ROI both from a lease up and exit strategy.