It’s a thing: Elbow Grease Real Estate Investing is when you build equity in property more through effort, than money. It is also called DIY equity. It’s how most people who are new to real estate investing get started: Rather than hire contractors who will bill you a MINIMUM of $50 per hour to do repairs or build-outs, you just build out that new kitchen or replace that garage door yourself.
The only question to elbow grease investing is where to buy the materials.
BECOME A PRO
The easiest way to get tools and materials at wholesale prices or contractor discounts is to register for the Home Depot Pro Loyalty program. To become a Home Depot Pro, you don’t have to be a registered contractor or service provider. You just need to be a frequent customer. It also means that you can get into the store before “regular” customers and you get to park in the PRO parking spaces.
Lowe’s offers Contractor Packs and bulk quantities discounts as well with their business credit card that gives holders 5% off of certain purchase. Some restrictions apply, of course, but when you’re looking at quantity over quality, there’s a good bet that you’ll be able to get most of what you need at a discount.
Lumber will also certainly be a need, but getting it from a lumber yard may only save you a couple of dollars, so unless you’re doing an addition or building another structure on the property, you’re better off just getting everything from Home Depot or Lowe’s.
Buy from a Real Estate Wholesaler
While rehabbing a house or other investment property sounds fun, there are still some things you may not want to do yourself.
For more information on what a real estate wholesaler does, read What Does a Real Estate Wholesaler Do?