3x Thesis: The Great American Garage Conversion Play

America’s housing crisis isn’t creeping up on us. It’s already here and the math doesn’t work.

Home prices are up 40% in four years. Mortgage rates have doubled. And nearly half of renters now spend over 30% of their income on housing.

Meanwhile, the country is sitting on 30+ million garages doing absolutely nothing. Not nothing as in underused. Nothing as in housing a 2004 elliptical, three boxes of Christmas lights, and a rusty bike no one rides.

That’s the arbitrage.

Accessory Dwelling Units (ADUs)......garage conversions, backyard homes, prefab in-law suites.....solve a real problem for:
• Multi-gen families looking for privacy and proximity
• Parents helping adult kids get a start
• Retirees needing income to afford retirement
• Homeowners desperate for more space or more rent

But building one today is a nightmare. Zoning headaches. Contractor roulette. Financing complexity. And zero trust in the process.

Here’s the real play:
1. Acquire local/regional ADU contractors + prefab builders. Roll them up for scale, consistency, and lower CAC.
2. Build the front-end consumer platform. Clean UI, clear pricing, one-click financing, zoning maps, permit tracking, virtual consults.
3. Bundle everything into a vertically integrated offer. Zoning + financing + build, all in one place.

It’s a consumer real estate platform with a juicy services layer.

You’re buying into a fragmented market with:
• Sky-high demand (1 in 3 homeowners have considered an ADU)
• Government support (California, Oregon, and others have slashed ADU red tape)
• Recurring tailwinds (aging population, student debt, remote work, housing scarcity)

Let the regional players keep banging out units one at a time. The platform model will let you scale 10x faster, 10x smoother, and 10x more profitably.

Build trust, make it easy, finance the project, and own the customer.

Because the future of housing might not be a new build, it might just be the garage out back.