It's true repairing drywall (sheetrock) might be something most homeowners' could do themselves albeit there are some drywall (sheetrock) repairs that are better left to the professional drywall repair person while there are many other drywall (sheetrock) repairs that can be done by practically all able bodied and sound of mind homeowners.

Since the late 1940s and early 50s drywall (sheetrock) has become the common interior wall and ceiling covering that is used in over 90% of all homes built. Prior to drywall (sheetrock) plaster was the material of choice; however, plaster is expensive and it takes much longer to install then drywall and in addition to that before the walls and ceilings can be painted they must cure (dry out) which can take from 4-8 weeks and sometimes even longer.

Getting started

But drywall (sheetrock) is different, it goes on dry; hence, we get the name drywall, and it can be taped and finished as well as textured and prime/painted in less than a third of the time it takes to install and paint plaster. Drywall (sheetrock) is much more user friendlier than plaster which demands the attention of a highly skilled and well triained craftsman. to install and/or repair as oppose to drywall.

  Make no mistake about it, it takes a highly skilled craftsman to finish drywall (sheetrock) while on the other hand the average person can do quite well installing drywall (sheetrock) without any experience whatsoever.

In order to start repairing your drywall (sheetrock) you will first of all need a few inexpensive tools to do the job correctly.  You will need a drywall (sheetrock) taping knife to apply the joint compound or sheetrock mud onto the drywall. Taping knives usually come in widths of 3 inches, 4 inches, 5 inches, and even 6 inches. I use them all but you really only need one and a drywall mud tray to hold the joint compound. There are a number of drywall tools and equipment on the market to help you work comfortably and at the same time do a great job.

Applying the tape and the joint compound

When applying joint compound or sheetrock mud as it is often called be sure to put enouh in the area you are going to apply drywall tape onto because if you do not the tape will not adhere properly to the drywall or over the area that is being taped. Apply the joint compound liberally and then place your tape into the joint compound. Press your drywall blade or knife down on the tape so that the excess joint compound underneath the tape will ooze out.

Run the drywall knife along the length of the tape that you have just embedded into the mud. Wipe away all the excess joint compound with your knife and put it back into the tray. Continue doing this until the joint or area being patched is completely covered. After the joint compound has dried sand until it is smooth and follow up with a second application of mud and finally a third application.

Floating Out or Finishing

The second application is known as bedding or bedding down the drywall tape. This particular application usually is responsible for hiding the tape completely. Sometimes with repair work you may have to apply additional coats or additional applications of mud to hide or cover the tape. And ususally this is done with a 10 inch or twelve inch drywall knife/blade. When this application has dried you should float it out or widen the coverage with a 12 inch drywall knife.
Sanding repaired area

Be sure and sand down the applied joint compound to get a smooth  surface that appears to be as flat as the drywall that did not need any repair work done. Your objective should be to a repair that is totally unnoticeable. Good luck and I wish you will..