311: DIY Real Estate Hacks That Will Save You a FORTUNE on Your Deals w/Shaun Kelly

Real Estate Rookie

BiggerPockets

How To, Education, Business, Investing, Entrepreneurship

4.8 • 1.7K Ratings

🗓️ 9 August 2023

⏱️ 58 minutes

🔗️ Recording | iTunes | RSS

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Summary

Some simple DIY investing hacks could save you thousands of dollars. But, as a rookie, the thought of tackling your own home renovation projects might be a little intimidating. Bringing sweat equity to a deal, however, can help you save a ton of money and even make you more valuable in a partnership. In this episode of the Real Estate Rookie podcast, we’re chatting with Shaun Kelly, whose road to real estate investing was anything but fast or easy. Shaun spent nine years in the analysis paralysis phase before he finally pulled the trigger on his first deal. Since then, he has built a portfolio of nine properties in four years and has refined his DIY skill set to the point where he can perform all types of rehab projects for a fraction of the typical cost. Whether you’re looking for creative ways to increase profits on your investment properties or bring value other than capital to a partnership, tune in to hear Shaun’s biggest money-saving DIY hacks and his journey, from making simple fixes to performing major home renovations. Ashley and Tony discuss their own experiences with DIY projects and list the jobs they prefer to outsource to a pro! In This Episode We Cover DIY hacks that will help you save a FORTUNE on home renovation projects How to stop overanalyzing and finally land your first real estate deal How to account for sweat equity when structuring a partnership The importance of documenting your journey as a new real estate investor Harnessing the power of YouTube to build your network and create another income stream And So Much More! Links from the Show Find an Agent Find a Lender Ashley's BiggerPockets Profile Ashley's Instagram Tony's BiggerPockets Profile Tony's Instagram Real Estate Rookie Facebook Group Join BiggerPockets for FREE Submit Your Real Estate Rookie Question! Analyze Your Deals with the BiggerPockets Investment Calculators Achieving FI with Fewer Doors: The Small and Mighty Real Estate Portfolio Follow Ashley Wilson on Instagram Book Mentioned in the Show: Real Estate Partnerships by Ashley Kehr and Tony Robinson The Gap and the Gain by Dan Sullivan Connect with Shaun: Shaun's BiggerPockets Profile Shaun's YouTube Check the full show notes here: https://www.biggerpockets.com/blog/rookie-311 Interested in learning more about today’s sponsors or becoming a BiggerPockets partner yourself? Email: [email protected] Learn more about your ad choices. Visit megaphone.fm/adchoices

Transcript

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0:00.0	This is Real State Rookie, episode 311.
0:06.1	If you're changing out outlets and light switches and your ceiling fans, you're saving
0:10.4	thousands of dollars.
0:11.7	My biggest project that I would do for DIY work is hands down recess lights.
0:17.0	I even have a video where I've done a bedroom in one hour and I've had that same size bedroom
0:21.6	quoted by an electrician for $1,500 labor.
0:24.5	So I define that now as $1,500 for one hour's worth of work.
0:29.1	My name is Ashley Care and I'm here with my co-host Tony Robinson.
0:32.8	And welcome to the Real State Rookie podcast where every week, twice a week, we give you
0:36.7	the inspiration, motivation, and stories you need to hear to kickstart your investing journey.
0:41.6	And today's episode ash is just a little different than what we usually do.
0:45.8	First, I'm in my new studio, so I'm looking like a little Batman-esque with the dark vibes
0:50.5	going on right now.
0:51.5	I've got to finish off with the lighting in the background.
0:54.1	But second, our guest today, Sean Kelly, he's got an amazing story, but he's a DIYer.
1:04.3	And he built his portfolio, which is several properties, flips, airbnb, long-term
1:09.6	rentals, but he built that portfolio on the back of teaching himself as a complete
1:14.9	newbie, how to renovate and rehab properties.
1:18.8	So we also go into partnerships.
1:22.0	And so Sean is a DIYer and how he is going to incorporate that into his partnerships,
1:27.1	how do you structure that?
1:28.4	So we break down a couple of examples of different options he has to really bring value to
	...

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