Real Estate Rookie Podcast – Episode Summary

Episode Title: I Built a Real Estate Business That Replaced My High-Paying W2 (Here’s How)
Hosts: Ashley Kerr & Tony J. Robinson
Guest: Steve Keery
Release Date: December 10, 2025

Episode Overview

This episode of Real Estate Rookie features Steve Keery, an investor who replaced his high-paying W2 job by building a real estate business—first in Australia, then in the U.S. Steve dives into how he found markets remotely, structured his first site-unseen deal (netting $250K), and successfully networked from the ground up after moving to the United States. His journey is a blueprint for rookies looking to start small, manage risk, and leverage data and networking for real estate success.

Key Discussion Points & Insights

1. Starting in Real Estate: Overcoming Distance & Fear

• First Deal Was Site-Unseen: Steve lived in Sydney, one of the world’s least affordable cities, and realized investing locally wouldn’t work. He sought Australia’s best market using data, not proximity.

  • Data-Driven Market Selection ([00:53]–[01:47]):
    • Built spreadsheets on median income, demographic changes, infrastructure, and rental yields.
    • Interviewed local property managers to understand street-level realities and confirm details.
    • Relied on property reports and impartial third-party inspections for due diligence.
    • “I actually really think that I saw the property better than most people do because…I went really deep on the data.” – Steve Keery [01:47]

• Managing Fear:

  • Admits he was anxious about investing remotely but leaned on logic, research, and the willingness to make and learn from mistakes.
  • “I absolutely had the fear for sure…it was like a big investment, but I just did it anyway.” – Steve Keery [04:33]
  • Tony underscores the lesson: “Bravery isn't the absence of fear. It's doing it in spite of your fear.” – Tony J. Robinson [05:08]

2. Deep Dive: Market Analysis & Skills Transfer

• Analyzing Markets with Census and Rental Data ([06:40]–[08:05]):

  • Started with tools akin to Zillow (realestate.com) and census data.
  • Focused on growing, not already-hot areas, seeking upward-trending income and population.
  • Looked for neighboring pockets near high-growth areas.

• Background Advantage? ([08:18]):

  • Steve’s marketing background helped with data analysis, but he insists it’s replicable: “To the rookies listening…I think that it's not rocket science and you can do it.” – Steve Keery [08:18]
  • Encourages leveraging whatever skillset you have—marketing, networking, or analytics.

3. Beginning in a New Country: Building a U.S. Real Estate Network

• Arriving with Zero Contacts ([12:48]–[13:54]):

  • Attended local REIA meetups in New Orleans (NORIA) to start learning and connecting.
  • Bought his first U.S. property via a wholesaler, then learned the wholesaling model.

• Effective Networking Strategy:

  • “Just add value and be curious. Ask questions. Just really find out people do and just help where you can. Definitely don't be transactional; be the opposite of transactional.” – Steve Keery [19:54]
  • Leveraged his Australian accent for memorability (“I did become like, people started calling me Aussie Steve…might have even enhanced my accent slightly.” – Steve Keery [16:15]).

4. Transitioning to Wholesaling & Scaling the Business

• Wholesaling Defined ([17:42]):

  • “Wholesaling is really flipping a contract as opposed to flipping a house…you assign your rights to purchase that property to another investor and earn that spread.” – Steve Keery

• Building Buyer Lists ([18:40]):

  • Started at meetups, then expanded via BiggerPockets, Facebook groups, and collaborations with other wholesalers.
  • Joint ventures helped compensate for his knowledge gaps.

• First Major Breakthrough ([26:40]):

  • Spent a couple thousand per month in early marketing (texts, lists, mailers); took six months for the first wholesale deal, then three in the same week.
  • “All the work I'd done that six months started to come back because the follow up, the momentum, so once I did that, I started rolling.” – Steve Keery [27:25]

5. Tactical Insights: Analyzing, Financing, and Finding Deals

• The “Buy Box” & Wholesale Math ([21:04]–[22:32]):

  • Sought properties at 70% of ARV minus repairs (now closer to 65–60% due to market shifts).
  • Example: 100k ARV, 20k rehab → buyer wants for 50k, so wholesaler targets a lower price to extract a margin.

• Estimating Rehab Costs as a Rookie ([23:32]–[24:47]):

  • Relied on network estimates and rough formulas (e.g., 7.5% of ARV for miscellaneous).
  • “There's a difference between being a wholesaler and a rehabber…As a wholesaler…you just need to give enough of a budget.”

• Financing Burrs ([28:21]):

  • Steve initially used cash from his exited Aussie business, then recycled capital through DSCR loans.
  • Emphasizes unique advantages of U.S. real estate loans: “30 year fixed debt only exists in America…In Australia there's no fixed debt…” – Steve Keery [28:21]

6. Marketing & Sales Foundations

• Best Marketing Channel for Deals ([35:22]):
  • Sees most inbound leads via online (website, SEO, Google ads).
  • “But I will say this, that I actually think it's my sales process that is the key, not the lead source. Because I think all the lead sources work.” – Steve Keery [35:22]
  • Empathy and follow-up are vital—most deals close over time as sellers’ situations change (example: sudden property manager death accelerated one seller’s urgency) [36:20].

7. Staying Focused for the Long Term

• Niche Focus & Scaling ([39:04]):
  • “I see ourselves as being more regional and expanding further...But I will not stop because I built momentum and a brand and I'll continue going and I might add some things on top as we go, but I'll never change or pivot unless I really. Unless something forces me to.” – Steve Keery
  • Recommends rookies “just keep trying, keep going, don't stop, you know, before you get that success.” [27:25]

Notable Quotes & Memorable Moments

• "I actually really think that I saw the property better than most people do because I went really deep on the data." – Steve Keery [01:47]
• “Bravery isn't the absence of fear. It's doing it in spite of your fear.” – Tony J. Robinson [05:08]
• “The purpose of the first deal is to give you proof of concept, is to give you confidence that you can go out there and do your second deal.” – Tony J. Robinson [06:26]
• “Just add value and be curious…be the opposite of transactional.” – Steve Keery [19:54]
• "If you're good at marketing, you should always keep wholesaling in your repertoire.” – Steve Keery [39:04]
• “30 year fixed debt only exists in America, it does not exist in Australia and it does not exist anywhere else in the world.” – Steve Keery [28:21]

Segment Timestamps

• [00:53] – Steve's first deal: site-unseen investing and market analysis
• [04:33] – How Steve managed the fear of remote investing
• [06:40] – Data sources and metrics for market analysis
• [09:43] – Distance of investment and never seeing the property
• [12:48] – Why and how Steve pivoted to U.S. investing
• [13:54] – First steps in networking in the U.S.
• [16:42] – Realizing wholesaling fit his skillset; strengths assessment for strategy fit
• [17:42] – Wholesaling explained for beginners
• [18:40] – How Steve built his buyers list and found deals
• [21:04] – Steve’s personal buy box and avoiding big rehabs
• [22:32] – Wholesale math: calculating offers and profits
• [23:32] – Estimating rehab costs with limited local knowledge
• [25:28] – Early marketing tactics and scaling up the business
• [26:40] – First deals took 6 months—then the momentum kicked in
• [28:21] – Financing strategies for burrs and U.S. lending advantages
• [35:22] – Best marketing channels; sales process is the differentiator
• [36:20] – Persistence: why follow-up wins deals
• [39:04] – Doubling down on wholesaling and regional expansion
• [40:04] – Where to find Steve and keep following his journey

Final Thoughts & Takeaways

This episode is a rich, honest roadmap for rookie investors:

• You don’t need to invest locally or see every property—the numbers and team matter more.
• Fear is normal; success comes from acting through it and building momentum.
• Data analysis and networking are replicable skills that underpin success.
• Wholesaling leverages marketing and sales; align your strategy to your natural strengths.
• The U.S. real estate market offers unique financial tools—use them!
• Value creation and curiosity drive successful networking and deal flow.

Find Steve at: HomeBuyerLouisiana.com | LinkedIn: Stephen Keery

Summary prepared for listeners seeking actionable steps and concrete inspiration for starting and scaling real estate ventures, no matter where you live.