REI Kit Pro Real Estate Software
10 Replies
James Williams
Investor from Simpsonville
posted over 1 year ago
Has anybody invested in the REI/Kit Real Estate software?
La'Keita Redfern
from Charlotte, NC
replied over 1 year ago
Yes, it’s fairly easy to use but it’s offered by Zillow so it has the same information just about what’s offered through Zillow.
Kuba F.
Real Estate Investor from Los Angeles, CA
replied over 1 year ago
Disclosure: I'm the founder of REI/kit
Hey there,
@La'Keita, we are not actually affiliated with Zillow. Our free side uses the Zillow API for demonstration purposes only, however our premium side uses our premium source of comps that offers way more than what you can get with Zillow, and far more accurate.
There's a lot of cheap house flipping software out there all of which (because their pricing) they all without exception use the Zillow API and in so doing they will do a very poor job of coming up good comps for you, and your valuation is going to be a crapshoot at best.
Another distinction is that the Zillow API is not the same data that you will get on Zillow. It is a far smaller and more inaccurate data set that Zillow itself is required to limit due to their data sharing agreements.
This is why we stopped using the Zillow API on the premium side and why on the free side we have an add your own comps section, so that you can augment your analysis with better comps.
You can tell cheap software if it's coming up with comps for you for under $50 for an unlimited number of comps. They might have other things going for them, but if you're using them for comps or valuation then your entire analysis is going to be severely flawed.
@James Williams I've seen a number of reviews about us on this forum which you should be able to find using the search functionality. I'm also happy to answer any questions directly.
La'Keita Redfern
from Charlotte, NC
replied over 1 year ago
Kuba F. I can only state what I see
Kuba F.
Real Estate Investor from Los Angeles, CA
replied over 1 year ago
Disclosure: I'm the founder of REI/kit
Thanks, I completely understand how you would reach that conclusion.
We are required to post that specific "Provided by Zillow" logo wherever we show their comps. Their logo is only however related to line 1 of our disclaimers. The site itself is not provided or related to them in any way.
Joseph Shaw
replied over 1 year ago
@Kuba F. - what accounting software would you recommend to use with yours? Does your software integrate with any specific accounting software in general ? Thanks!
Kuba F.
Real Estate Investor from Los Angeles, CA
replied over 1 year ago
Disclosure: I'm the founder of REI/kit
I'm a big believer in the DRY principle (don't repeat yourself), and so I use quickbooks and only quickbooks for all of my cost accounting and cost tracking and reporting. REI/kit does not integrate with quickbooks because currently it's primary use case is pre-purchase: to market to motivated sellers with investor websites, then to perform extensive due diligence on those deals ensuring that you don't get yourself into a bad situation, and then market those deals for funding or resale.
Post purchase, I would recommend you use Buildertrend to manage your project which does integrate with quickbooks and helps you maintain your costs across projects.
But if you were on a budget then at a minimum just use quickbooks. A great book to help you navigate how to set quickbooks up that is still relevant is "Contractor's Guide to Quickbooks 2015" Yes, 2015, but it's still quite good.
If I'm not mistaken, if you buy @J Scott's book on estimating rehab costs I believe one of the free goodies is a chart of accounts that you can use to get started. You'll have to check with him.
Yosef Katz
New to Real Estate from Brooklyn NY
replied over 1 year ago
Originally posted by @Kuba F. :Hey there,
@La'Keita, we are not actually affiliated with Zillow. Our free side uses the Zillow API for demonstration purposes only, however our premium side uses our premium source of comps that offers way more than what you can get with Zillow, and far more accurate.
There's a lot of cheap house flipping software out there all of which (because their pricing) they all without exception use the Zillow API and in so doing they will do a very poor job of coming up good comps for you, and your valuation is going to be a crapshoot at best.
Another distinction is that the Zillow API is not the same data that you will get on Zillow. It is a far smaller and more inaccurate data set that Zillow itself is required to limit due to their data sharing agreements.
This is why we stopped using the Zillow API on the premium side and why on the free side we have an add your own comps section, so that you can augment your analysis with better comps.
You can tell cheap software if it's coming up with comps for you for under $50 for an unlimited number of comps. They might have other things going for them, but if you're using them for comps or valuation then your entire analysis is going to be severely flawed.
@James Williams I've seen a number of reviews about us on this forum which you should be able to find using the search functionality. I'm also happy to answer any questions directly.
Yosef Katz
New to Real Estate from Brooklyn NY
replied over 1 year ago
Where cam i find reviews?
Kuba F.
Real Estate Investor from Los Angeles, CA
replied over 1 year ago
Disclosure: I'm the founder of REI/kit
I've been in a number of threads thanking people for their kind words, the problem is I can't find them with BP search because we have a slash in our name so it pulls up thousands of pages with the term REI.
Here's one I did find: https://www.biggerpockets.com/forums/86/topics/658998-has-anyone-used-the-reikit-software
Additionally most of our reviews are on our review site: https://www.g2.com/products/reikit-house-flipping-software/reviews
BTW, most people who solicit reviews for their software pay for reviews, and I'm proud to say that none of our reviews are paid and are from actual customers.
Cheers!
Kuba
Yosef Katz
New to Real Estate from Brooklyn NY
replied over 1 year ago
because we have a slash in our name so it pulls up thousands of pages with the term REI.
Got it! I was wondering why such a great site and I could find zero on BP!