AI Renovation Budget App Helps Real Estate Investors Analyze Deals Faster

Bailey & Kevin Peake (00:00)
I think a lot of people think about real estate investing and a lot of people talk about it, but like do it. Do the thing and like try and know that if you fail, like know what the risk is, but take the risk. Cause if you don’t take the risk and you don’t try, think that’s something that Kevin has brought more to me. I tend to be a little more risk averse or more nervous, but he’s, he’s pushed when it’s the right time.

And you can always talk yourself out of a deal. guarantee you can always talk yourself out of it.

Quentin (02:05)
Hello everyone. Welcome to the Real Estate Pros podcast. I am your host Q Edmonds and I am excited to be here today. That’s right y’all. Y’all get two for the price of one today. And so I have some fantastic guests here. I am so happy that we get a chance to learn about what they do. And I’m gonna tell you now some of the key words that I’ve written down that we kind of hit right off the bat. Accountability, integrity.

Bailey & Kevin Peake (02:17)
Thank

Quentin (02:32)
honesty, if y’all follow me, y’all know those words get sprinkled in the podcast a lot. So I’m excited about the way that they think, the way their mind work, and more importantly, the business that they’re doing. mean, they’re doing it with honesty, integrity, and accountability. And so I am so excited to introduce you all to Mrs. Bailey and Mr. Kevin Peake. How y’all doing today?

Bailey & Kevin Peake (02:54)
We’re great, thanks. Fantastic, thanks for having us today.

Quentin (02:57)
Listen, I’m so glad that you’re here. I’m excited to do this podcast episode with you and I am the type. I like to dive right in. So I would love for you to tell the people what’s your main focus these days. If you don’t mind, give them a little bit of an origin story, kind of how you two got into the space that you’re in.

and then tell them what part of the world you’re in. People love to know geographically where people are. So, where you’re up to, the origin story, and where you are. Listen, y’all have the floor.

Bailey & Kevin Peake (03:26)
Yeah. So about six years ago, we, Kevin came to me with this idea that he wanted to buy an investment property. And I was very skeptical. He works in sales and I was the hardest sale I think he’s ever had to convince. ⁓ And that one property was purchased and it quickly grew to two and then more. And he bought a fixer upper house.

Quentin (03:39)
Mm. Yeah, man.

Mmm.

Bailey & Kevin Peake (03:53)
Then let you tell that story about how that grew. Yeah, we had had some successful sales and I was looking for some some ways for us to be able to to get into real estate. My family is in real estate. My my grandmother is an immigrant from England and she started her own property management business. ⁓ She grew that from zero properties all the way up to almost 500 properties in the MD in the Maryland, Virginia area.

And my cousins have rental properties. My parents have rental properties. My dad just retired last week too. So, ⁓ the origin story for us is that I, I wanted to buy this house as a fixer upper. And the first rental property about was turnkey. The second one we bought, there’s a little bit of work and then we refied the third property we actually bought and it was a dump. And

we ended up selling that one as a fix and flip. we made, it was about 2022 when that happened. We made more money on that project than I had made in a long time. And that’s really what got our bug for flipping.

Quentin (05:42)
Yeah. Yeah. Wow.

Bailey & Kevin Peake (05:44)
We then

quickly acquired four houses in a two week period and had the intention of one of us quitting a full-time job. Maybe not as quickly as expected, but Kevin called me at work and said, I think you need to quit your job. And I said, okay. So we, we had done the math before and just had gotten there quicker than expected. ⁓

Quentin (05:50)
Wow.

Yeah.

Alright, I see frankly!

Bailey & Kevin Peake (06:12)
And I quit my job. I was a corporate HR manager for six years before that. And I went in and I dove in. ⁓ And I learned the hard way. And we had four projects going at once. That was really overwhelming when you don’t know what’s going on with them. You just kind of start. And luckily that was last year in April and we made it out of the woods.

Quentin (06:31)
Yeah.

Wow. Yeah.

Bailey & Kevin Peake (06:39)
And we made money, we

made enough for my salary, and now we’ve just spent dialing in. So we did the slingshot where we kind of went backwards and, and flung forward really quickly. And now we just want to take that momentum and maybe slow the pace down and do really good deals. So our focus now is really solid houses, really good neighborhoods, just the houses that need.

Quentin (06:47)
Mmm.

Yeah. Yeah.

Bailey & Kevin Peake (07:06)
the most work in the best locations.

Quentin (07:08)
Yeah, yeah. Wow. Thank y’all. Thank y’all. Thank you for letting us know where you are, kind of how you got there, how you started. I love it. I love when people tell their stories. I put a premium on stories. And so much so that, you know, as you was talking, I was actively listening and I was writing some things down because what I like to do is kind of do a quick summary.

I like to make a statement and to ask a question. All right. So that’s, that’s, that’s, I’m setting it up like that. six years ago, Kevin wanted to buy a property. Bailey was the hardest sale. She was the hardest. He’s in sales, good salesman, but Miss Bailey was the hardest sell, right? But she wound up buying the property bought one, then two. Kevin, your grandmother, she’s from England.

Bailey & Kevin Peake (07:36)
Mm-hmm.

Yeah.

Quentin (07:57)
she’s in the real estate business. And I think you said she grew over 500 doors, right? So over 500 doors. guys, you your first property that y’all bought was Turnkey. The second property was Refinance. Third property was Fix and Flip. That’s kind of how you got into the Fix and Flip, right? Quickly grew from four houses in four weeks. Kevin called like, baby, like, I think it’s time for you to quit. Like, I think it’s time for you to come up off the job, right?

So Ms. quit her corporate HR job and that was like last April, I believe you said, right? Now you slingshot, you know, now you’re doing deals, kind of found your sweet spot. Now you kind of want to slow the pace down, find good deals. Is that a good summary? Okay. All right. I think I love summarizing the journey because I make this statement all the time. Destiny has no wasted moments, right? Meaning sometimes you got to…

Bailey & Kevin Peake (08:47)
Mm-hmm.

Quentin (08:49)
look back and look at the journey, look at the momentum that you’ve built and really seed kind of the tea leaves to how you got to where you are now. And now you kind of know what works, what doesn’t. Your strategy’s kind of been refined. You borrowed from the failures, you’re bound from the success. All of it has reinforced the people that you are today. So I would love to know what has the journey taught you guys about yourself? Has it taught you discipline, resilience?

Bailey & Kevin Peake (08:58)
Mm-hmm.

Mm-hmm.

Quentin (09:17)
Has it cleared up communication? Like what has the journey, what has the moments of the journey taught y’all about yourself?

Bailey & Kevin Peake (09:23)
we are. There’s there’s three people here that you’re actually talking to.

Quentin (09:28)
I’m on there!

Bailey & Kevin Peake (10:04)
There’s, there’s the me there’s the Kevin and then there’s the we and I think the biggest change has been the we yeah, because I firmly believe that most couples in a marriage do not work well together. And most couples say I could never do that I could never work with my spouse and

Quentin (10:04)
Yup.

Yeah.

Bailey & Kevin Peake (10:25)
is not easy, it was not easy. And we had to take a long time to talk about like, how is this going to look? How is this part of our life? But it’s not our life. We have other things going on here, but we have to integrate this and fit this in. So I think it’s taught us a lot about how do we treat each other, both like husband and wife and like coworkers, because what we’re not going to do is become

Quentin (10:48)
Yeah. Yeah.

Bailey & Kevin Peake (10:52)
Just coworkers. Yeah. The reason that we did this is that so we could be together, we really like each other. And we want to continue to do that. ⁓ so I think it’s just really opened up a lot more time to communicate and like slow down and Hey, let’s talk about this. Don’t just sweep it under the rug. More than anything.

Quentin (10:58)
Mm. Mm. Mm. Yeah.

Yeah. Yeah.

Bailey & Kevin Peake (11:14)
And I love that, like I’ve learned more about Bailey working with her than I would have probably learned in five more years of marriage in just a year’s period of time. spend so much time together. share an office space. We spend time together doing that. We also have two kids that we’re raising, a four year old and a two year old. And we’re doing all of this. And it’s just been so, ⁓ I’ve just grown so much more respect for my wife, seeing just how incredible she is.

Quentin (11:24)
Mmm.

Bailey & Kevin Peake (11:42)
and the skills that she has are just so different than mine and seeing that you can be ⁓ really an incredible person with a different set of skills and it makes you better to have personally.

Quentin (11:53)
Yeah. Listen, take this from somebody that literally just had a counseling session with their therapist with their wife yesterday. I mean, literally, they coming off of it yesterday. I’m still sitting in feelings this morning from the conversation yesterday. So I appreciate you. I mean, I appreciate that answer. Now, Miss Bailey, I love how you said you’re looking at three people. You’re looking at the individual, but also the entity of marriage.

Bailey & Kevin Peake (12:01)
Thank

Quentin (12:20)
And I loved how you said we really like each other. Like, I mean, there’s a lot of couples that don’t like each other, you know? And that’s just real talk. And me and my wife, we pride ourselves on being each other’s best friend. And we try to be honest enough, as you talked about, like honesty and accountability. We like to be honest enough to say, I don’t feel like we in that best friend zone right now. Like, what’s going on right now? Let’s talk about it. What’s going on? And so I love that.

Bailey & Kevin Peake (12:24)
you

you.

Mm-hmm.

Mm-hmm.

Quentin (12:49)
very introspective, reflective answer to that question that I asked. One of my mentors, they told me, you know, when you know who you are, you know what to do. And so when you are sure about your why, when you know that, you know, I’m the husband of Rosette, when you know, listen, I’m the husband of Bailey, I’m the wife of Kevin, you can put us in any situation. There may be tension, but I know my why.

Bailey & Kevin Peake (13:16)
Mm-hmm.

Quentin (13:16)
that

we may not agree right now, but I know the why. The why is that we are together. So how do we find common ground? And I ask that question because I tell people you are at the center of your business. So you got to know your why. Sometimes you got to be able to look back and say, dad, how did I get here? Because that will power you forward to like the next decision that you need to make. And so y’all really appreciate the answer. I really, really do. Let me ask y’all what’s next for the business.

What are you guys looking to solve or scale next? What’s next for you?

Bailey & Kevin Peake (13:47)
So our backgrounds are in manufacturing prior to real estate. so process and systems is the backbone of manufacturing and you can’t get that out of you once you’ve done it. So we’ve integrated a lot of systems and efficiencies and like, gosh, this takes too long. I just want to do it faster in our own business. And

Quentin (13:51)
Hmm.

Yeah. Yeah.

Bailey & Kevin Peake (14:52)
what we’ve actually done with that is I think created something that other people

are actually liking. ⁓ So maybe want to tee up that we’ve actually created an app ⁓ that truly was born out of I don’t know renovation budgets. I cannot walk into a house and know how much everything costs. I don’t have that yet. Building it.

Quentin (14:59)
Yeah. Yeah. Yeah.

Bailey & Kevin Peake (15:15)
So what I was doing was taking pictures and I was analyzing things and it was taking a long time. But as I was doing, I was building like how much, you know, per square foot does this cost? What are standards for things like roofing and HVAC? And I was building all that.

And Kevin’s really good with technology and he kind of said, hold on, I think we can piggyback this on with AI and ended up building this tool. That’s actually a vision system that I’ll maybe let him explain what that is. Yeah. I think like the, the problem we were trying to solve is what Bailey was saying is like, think that analyzing deals or driving to a house that you don’t know is actually a good deal or not before you get to the renovation site.

Or if you’re wholesaler and you’re looking at deals all day and you’re trying to figure out how much you can be able to get the house under contract and still sell it to an investor for an assignment fee is really tedious. And so we built this app that analyzes photos that you take or of deals that are delivered to you and gives you a full renovation budget and a scope of work in three minutes or less. And it does this.

Quentin (16:19)
Yeah, yeah.

Bailey & Kevin Peake (16:20)
using a series of AI tools, but also can look at the comps in the area and it’ll tell you what your predicted profit on a project is going to be based off of your own organizational costs. And that’s really what we’re focused on growing and scaling right now is I think we found a tool that’s been so incredibly useful for us and we think it’d be helpful for other people. And we’re trying to encourage people to try it out and see if it’s something that can help grow their business.

Quentin (16:45)
Yeah, yeah. Listen, I’m gonna show y’all my, let me write this down. I’m gonna show you my piece of paper that I’m writing for y’all.

Bailey & Kevin Peake (16:52)
Thank

Quentin (16:53)
Cause y’all saying so many just powerful things. So this is, this is your sheet right here. Listen, see all this stuff I’m Right? Exactly right. I’m taking notes. I’m telling y’all I’m actually listening because y’all saying so many great things. And I love the fact that you just want to get people to try it. Like y’all, y’all know the tool has helped y’all. It has solidified so many operations and systems within your business made y’all efficient. And it’s like, Hey, just, just try it. And so that’s

Bailey & Kevin Peake (16:58)
You’re my math! You’re so funny! ⁓

Quentin (17:21)
That’s why I’m glad you’re here. I’m glad you’re talking about it because I believe it’s a tool that’s really want to help people. And you’re talking about helping people. You’re talking about, listen, this is a tool that we’ve built that can help make things more efficient. and then I got both of y’all here. So I’m going to love asking y’all this question. And so y’all been doing your thing, answering. So I’m just going to throw it out there and let y’all answer it how you will. But when you guys hear the word relationship, what comes to mind?

for you.

Bailey & Kevin Peake (17:49)
have a two and four year old and the golden rule is taught at all ages and we all need reminders. think sometimes what that means, treat others the way that you want to be treated. Whether that’s just being kind over the phone, saying hello, how are you? Like, and really meaning it to like, Hey, we built this tool for us. Like, do you want it? And being

being open to it because that’s how other people have treated us as we were learning and we were making mistakes and we were networking and talking to people that had more experience like people treated us really well and now it’s like I want to do that too so I think relationships all come down to treat people the way you want to be treated.

I can’t answer better than that. That is it. And I think that’s the core of who we are. And it’s paid off in dividends. Every relationship that we’ve invested in has given back significantly more in return.

Quentin (18:37)
Yeah. Yeah. Yeah.

Bailey & Kevin Peake (18:49)
And it’s because I think people believe in us and we believe in the other people and we just try to empower others and give back and provide value to them. Because if you’re going to take the time to pick up the phone and have a conversation or meet with somebody, it’s because you care about them and you just want, you want them to care about you back.

Quentin (19:09)
Yeah,

yeah, mm. Yeah, I can’t remember who said the saying, but someone said, people may rarely remember what you said, but they would remember how you made them feel, right? And so, I was gonna say it’s Maya, right? Thank you, Ms. Maya, you’re on it, thank you. And I think, again, some of the words you guys let with.

Bailey & Kevin Peake (19:22)
Maya Angelou.

Quentin (19:32)
Accountability, integrity, and honesty. People pick up on those traits. You can only fake honesty and integrity, but for so long. Because if it’s not authentic, there’s going to be cracks in the foundation. And people are going to start to see it. It’s going to start to crumble. And so I love the fact you talk about treating people the way you want to be treated. I often say this proverb here on the pod. It says, when you refresh others, you in return will be refreshed.

Bailey & Kevin Peake (19:40)
Mm-hmm.

Mm-hmm.

Quentin (19:58)
And

so when you are intentional about helping people, when you are intentional about making sure people are refreshed, making sure people feel good, sure people get answers, quality answers, honest answers, right? That stuff comes back in spades. And I think y’all are result of that. You just said, when you were starting off, there was a lot of good people who gave you good information and was kind to you. And I think that’s just like the revolving.

kind of ecosystem that we can create if we be an authentic, honest, and doing it with integrity. And so I appreciate you both. Listen, is there any topic that I have not brought up that you two would like to talk about? Is there any other words of inspiration, education, or motivation? Like maybe you all came in with something on your mind. Like I want to make sure the viewers understand this.

I kind of just want to make space that way you can kind of land that message if you had one like that.

Bailey & Kevin Peake (20:53)
think a lot of people think about real estate investing and a lot of people talk about it, but like do it. Do the thing and like try and know that if you fail, like know what the risk is, but take the risk. Cause if you don’t take the risk and you don’t try, think that’s something that Kevin has brought more to me. I tend to be a little more risk averse or more nervous, but he’s, he’s pushed when it’s the right time.

And you can always talk yourself out of a deal. guarantee you can always talk yourself out of it.

So try to do a little more on the positive, but what could be, but what if we did, what if we tried? Because now…

that we did that. We got a little uncomfortable. We took on a bunch of risk last year, but it allowed me to quit my job. I get to hang out with my kids more. We get to go on more vacations and we were running our own business. So we’ve gotten to try new things that we never would have been able to if we just kind of stayed in the bubble of safety.

Quentin (21:52)
Yeah, yeah, yeah, yeah.

Bailey & Kevin Peake (21:54)
Yeah, I agree with that. think like the jump is a scary jump and I think you can arm yourself with information and tools to assist you in that process. That’s why we built our app, Renault Snap, to make it so that way you can make those analysis. You can do that information gathering and give yourself the confidence of real data and real information before you jump in because

we didn’t say the story, but we ended up having a house where we lost a whole bunch of money on. And I think if we had a tool like that, we would have not been in that situation. so, ⁓ learn the risks, understand it, but this is a great industry. a great place to be. ⁓ It’s been really great for our relationship. And so we encourage everybody to get into it.

Quentin (22:38)
Yeah. You guys, ⁓ y’all put on a master class today of just relationship, being kind to each other, giving space to each other. I mean, I know y’all seen some couples when one talk, the other person talk over them, they don’t even get a chance to finish their sentence or whatever. I love the fact that y’all are just give and take with each other. ⁓ and yeah, the fact that y’all can work together. Y’all said it best. A lot of couples can’t work together. It’s just like.

Bailey & Kevin Peake (22:44)
Mm-hmm.

Quentin (23:06)
There’s a boundary and that’s the boundary. So I love it. That’s it. But everybody gotta know themselves, right? Like I said, when you know who you are, you know what to do. And that’s not really doing shade. And it kind of came off a shady people, but I’m sorry. I wasn’t trying to do shade, but you know what works best for y’all, right? Everybody knows what works best for their relationship and do accordingly what works best for you. But I really do. I like your energy. I like the way.

Bailey & Kevin Peake (23:14)
Mm-hmm.

Quentin (23:34)
You can just see the unit. Y’all are a unit there. So I often say with community, I mean with relationships, you’re building a community and community is common unity. And it’s not uniformity because uniformity means everybody’s doing the same thing at the same time. Everybody’s doing, you know, same thing. Unity is when people are doing different things, but with a common goal. And so I love how you’re talking about y’all two know each other’s strength, but y’all have a strong community.

And I think you’re teaching it to your kids. And I believe it’s going to continue to be contagious to the community of people that y’all are building around. And so I really, I appreciate y’all being on today. If someone wanted to reach out to you, connect with you, collaborate with you, learn more about what you’re doing, how can they get in contact with you?

Bailey & Kevin Peake (24:24)
Yep. So we, are learning social media. We’re not great at it. We’re on Facebook and Instagram right now. ⁓
Reno Snap and, our website, www.reno-snap.com is where you can take a look and try it out. And we’re starting to build more of the online presence. So more to come on that.

Quentin (24:30)
Yeah.

Yeah.

Yeah.

Yeah. Yeah. Yeah. I love it. Well, listen, let me say three things sincerely to you both. One, thank you for your time because I believe time is our most precious commodity. So thank you for giving us your time this morning. I don’t take that lightly. It’s just not for me. Like, yeah, y’all just going to be guests on the pod. Like, no, like you’re literally giving us your time. So thank you. I appreciate that. Secondly, thank you for your story.

Thank you for the gift of your vulnerability, the gift of your transparency, the gift of your authenticity. I really appreciate it. I believe stories have a way of planting seeds in people. You may never see the growth, but the seed is there and that seed can grow at any given time, two months from now, five years from now. This can live on in perpetuity. So somebody can see this podcast 10 years from now and it can hit them then. So I thank you for coming.

Bailey & Kevin Peake (25:37)
You

Quentin (25:45)
and telling your story and planting real seeds that I know is going to take root. And lastly, but definitely not leastly, thank you for your mindset, the way y’all think, the way y’all think as individuals, but the way y’all think as a unit. Thank you for bringing that mindset to this platform. I greatly appreciate y’all coming on today.

Bailey & Kevin Peake (26:03)
Well, thank you for having us. been a great pleasure and we appreciate you. Great questions. Great discussion. been, ⁓ it’s been, ⁓ hopefully we can help out the listeners of the podcast in some way.

Quentin (26:13)
Yeah, It’s no doubt in my mind, man. Y’all plan to see. No doubt in my mind, y’all helped today. And so listen, y’all heard Miss Bailey, Mr. Kevin. Please look into the show notes. Get in contact with them. They learn their social media thing. But we’re going to reach out to them. We’re going to connect with them. So everything I said, the information in the show notes. But definitely make sure y’all subscribe here.

Bailey & Kevin Peake (26:30)
Thank you.

Quentin (26:37)
Because I promise you, we’re going to continue to bring on amazing people, just like Miss Bailey and Mr. Kevin. And y’all know, sometimes you’ll get T for the price of one. So I appreciate y’all again for coming on. And everyone else, listen, y’all have a fantastic day.