DIY House Hack Deal Analysis | Episode 25
The David Greene Show
David Greene
5 • 653 Ratings
🗓️ 17 December 2024
⏱️ 49 minutes
🧾️ Download transcript
Summary
Join me as I break down today’s guest’s house hack remodel and give advice on how to scale a portfolio using the sneaky rental strategy (the topic of my next book)! Garret Dion is a construction worker who found himself a house hack ON THE MLS and did the work himself, effectively renovating two units for a total of $15k. Garett was able to cut his housing expense by half while adding equity to a house he lives in, while setting himself up to move out when he finds the next deal and complete the sneaky rental strategy. This episode is complete with before and after pictures, renovation strategies and details, and the pricing of kitchen, flooring, and bathroom remodels. If you’d like to learn how to completely renovate a bathroom for under $2,000 or buy a rental property for 3% down, download this episode now! Podcast-The David Greene Show Spotify, Apple Podcasts Book a session with David: [email protected] Ask a Question: DavidGreene24.com/ask Find me on the “minnect” app Real Estate University: SpartanLeague.com Join my Free Newsletter: Davidgreene24.com/textletter Finance Your Real Estate TheOneBrokerage.com Intake@TheOneBrokerage @theonebrokerage Free Textletter DavidGreene24.com/join STR Management [email protected] Investor Retreat DavidGreene24.com/retreat Subscribe to The David Greene Show! Apple: https://podcasts.apple.com/us/podcast/the-david-greene-show/id1755485708 Spotify: https://open.spotify.com/show/5Nu6kCJTVzM2x2WsujqBOZ Submit your question for David: https://davidgreene24.com/ask 00:00 Garret's Deal 00:55 Analyzing the Property Purchase 03:09 Property Details and Renovation Plans 14:48 Financial Breakdown and Renovation Costs 21:55 Painting and Baseboard Updates 22:23 Bathroom Renovation Details 24:07 Cost Breakdown of Renovations 25:38 Labor Market Challenges 26:37 DIY Solutions and Personal Experiences 29:01 Advice for Out-of-State Investors 36:44 House Hacking Benefits 38:26 Future Plans and Concerns 45:54 Final Thoughts and Advice 47:15 Conclusion and Contact Information
Transcript
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| 0:00.0 | Welcome to Real Talk Real Estate, the show where we cover how to build wealth in real estate with no fluff, no BS, and no sales pitches. |
| 0:07.0 | I'm David Green, and I've been doing this for over 10 years. I've seen the ups, the downs, and everything in between. |
| 0:13.0 | This is the show where we pull back the curtain and show it to you too. |
| 0:16.0 | So if you want to build wealth through real estate or you just love learning about it you found your home what's up everybody |
| 0:27.2 | this is real talk real estate and you are listening to the david green show all real estate all |
| 0:33.7 | the time i'm joined today by garret dion who has come on to share some details about a deal |
| 0:40.1 | that he bought. And I am not proud to say that Garrett originally reached out to have me look at |
| 0:45.9 | the deal before he bought it. But I was so slow that I did not get back to him until it was already |
| 0:51.0 | bought. And this was scheduled, such as the life of David Green. |
| 0:55.1 | So instead of going into the actual details of should he buy it, we're going to talk about |
| 0:59.4 | how he bought it, what it looks like now, and what I think he should do moving forward. |
| 1:03.8 | So if you've ever wanted to figure out how to put a portfolio together, what kind of questions |
| 1:08.0 | people ask that have bought a couple properties, or if you're doing it right or wrong, you're in the right place because everybody thinks that they're doing it wrong. |
| 1:16.3 | I do it wrong all the time. There is no right way to do real estate, but there is better ways and there's also new ways to think about it. |
| 1:23.3 | And if I can get you to activate the creative portions of your brain, whether it's on an individual deal, seeing an angle you might have missed, or a way to construct a portfolio, a way to make money, a way to build wealth, that's what shows like this are all about us to help you become the best investor. |
| 1:37.3 | You can be the best version of you, which is not going to be the same as everyone else. |
| 1:40.5 | You're not going to be following all of their blueprints. Sometimes it's going to be a green print like today where I'm going to share my green print with Garrett. So Garrett, |
| 1:48.2 | thanks for being on the show. How are you today? Good. Thank you for having me. I pretty much had |
| 1:52.4 | under contract when I submitted that anyway, so don't feel too bad. Well, thank you for your grace. |
| 1:58.0 | Unfortunately, if anybody reaches out to me through any means other than my assistant, |
| 2:02.2 | which would be help at David Green 24.com or my email if I happen to be in town, David at |
| 2:08.2 | David at David Green 24.com, there's a very good chance it's not going to get seen right away. |
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