30 minutes may save you $$$ with this free comps adjustment tool

[Kuba F.]

Hey Everyone,

This is Kuba Fietkiewicz, founder of online house flipping software, REIkit.com. I wanted to let the Biggerpockets community know about a free real estate investing tool that may save you money when analyzing a fix and flip, or even prevent you from committing to an unprofitable deal upfront.

I started out in real estate investing with a plan and a spreadsheet, like many others. When I finally got past my analysis paralysis, and purchased and rehabbed a property, I realized I had made a huge mistake in my analysis, when it came time to sell.

So, what was the big mistake? Well, I did all the right things in finding comps as close and similar to the property I was analyzing as possible, and I used the formulas in my spreadsheet to average their values and calculate the ARV.

The step I missed in the process was in not accounting for how the comparables stack up against the subject property in terms of features such as pools and garages. My property, located in an area with a lot of snowfall, did not have a garage and all of the comps did, which cut 10,000 dollars off of my profit.

The results of that flip is the reason why I built out a free online tool, the Comps Adjustment tool, for anyone to use. The tool is based on the Uniform Appraisal Report that appraisers use, for the most comprehensive adjustment possible. In just 30 minutes you can adjust your comps for features and have a better understanding of whether you will profit or lose money on your next deal.

Try the Comps Adjustment tool on your next potential property here: https://tools.reikit.com/comps

Any questions about the tool or feedback, I'd love to hear it in the comments below or on the site chat.

Cheers!

Kuba