Spreadsheets are dead. Calculate ARV with this online software.

[Kuba F.]

Hey BP Community,

Kuba Fietkiewicz here, founder of REIkit.com real estate investment software. Did that title get your attention?

Today I'll explain and talk a little bit about two completely free tools on the site that will save you time and money. The first is the After Repair Value calculator, and the second is the Comps Adjustment tool.

Like many new investors, when I first started to fix and flip and needed to find a property's After Repair Value, I used a spreadsheet to type up my comps and average their values using basic formulas.

However, my annoyance grew with having to save version after version of a spreadsheet, deleting rows and copying content, and having to manually update formulas over and over. I created REIkit's online ARV calculator to make it as painless as possible to create a property analysis, adjust the comps, and save the analysis.

Speaking of adjusting the comps, now for the part where you may save money. In my original spreadsheets I realized that by just averaging the values of the comps, I missed out on an important step, which was adjusting the comps for features.

If you've ever experienced frustration with trying to find comps exactly like the subject property, you may know where I'm coming from. It may have even occurred to you that if your subject property has a garage, shouldn't that mean your subject property is worth more than a comp without a garage? The answer is "Yes, absolutely."

It is absolutely crucial to compare, and adjust, for big features like garages and pools. Not doing that will throw your ARV off by thousands of dollars, that you'll only find out about when it's time to sell the property.

REIkit's Comps Adjustment tool is the only software today modeling the Uniform Appraisal Report that most appraisers use.

The Comps Adjustment tool is a one, two, three process:

1. Identify all features that the subject has, such as pools and garages

2. Assign a dollar amount to that feature based on your area

3. Select a quantity

Then, watch as the tool instantly adjusts your ARV based on your data.

Both the ARV Calculator and the Comps Adjustment tool are free for you to use, and I'd love for you to stop by the site and try it out. What have you got to lose, but lost time and money?

https://tools.reikit.com/comps

Let me know how it works for you in the comments below or on chat at the site.

Cheers!

Kuba