Kuba Fietkiewicz here, founder of REIkit.com online house flipping and wholesaling software based in Los Angeles.
I wanted to let the BiggerPockets community know about two tools that I built out that are free for anyone to use: the ARV Calculator and Comps Adjustment tool combo, that could save you thousands on your next investment.
If you've ever found yourself in a situation where you were looking for comps as part of your After Repair Value calculations, but everything that was coming back was just not the same as your subject property, you need this tool.
More bedrooms? Less Bathrooms? Pool? No pool? This all matters.
On my very first flip I did not account for the fact that all the comps had a garage, and my property did not.
That was an expensive mistake that shaved $15,000 off the profitability of my flip.
If I had just taken a few extra minutes to adjust the comps, I could have avoided it entirely, instead of finding out months later when it was time to sell.
It's exactly why I built out the free ARV Calculator and Comps Adjustment tool, so that others could avoid the same scenario.
Wouldn't you like to know if you're going to lose money, before you make the deal?
Click this link to analyze your property with the tool for free instantly:
Feel free to reach out to me here in the comments or on the site chat if you have any questions or suggestions.
PS: Curious about our company? Thousands of real estate investors have used REIkit.com to evaluate over 195,000 deals and counting!