All Forum Posts by: Kuba F.

IMHO you can never over communicate, using whatever mode of communication is available, though it sounds like more face to face time might be in order in this case.  This is the principal function of a PM so as to have effect on the quality, cost, risk, scope, and time of a project.

I agree with the sentiment of not needing large PM or construction software.  As a certified PM for over a decade, there is nothing better than MS Project for these things, and that's only for you to manage your own projects.  Your subs don't care about fancy software and won't use it.

Since there's so many ways to invest it depends on what you want to calculate and what your strategies are.

I've never used icalculator, but it looks like an interesting tool to learn and apply formulas. I'm of the mind that one should make up their own mind by trying any tool especially if it has a free trial and seeing if it solves a problem for them.  

Sometimes though, the best calculator is the one between in your ears and the one in your pocket. 

Hi Everyone,


My name is Kuba Fietkiewicz and I run my online house flipping and wholesaling software company, REI/kit, out of Los Angeles.

REI/kit was born when I made some serious mistakes while flipping houses and wanted to find THE magic formula for how to make sure it didn't happen again.

Through building REIkit.com and doing more flips, I finally figured out that there is no magic formula to be found.

The only thing we can do is educate ourselves as much as possible and try to account for every single risk and cost we can think of before jumping into a new project.

That's what I had in mind when I built out all the tools for REIkit... 

With each tool I build, I ask myself: "Does this tool help my customers prevent the mistakes I made back then? Does this tool help my customers succeed?"

The comps adjustment tool, which is part of the free ARV calculator, is particularly close to my heart, because I lost over $15,000 on my first flip by not accounting for features and amenities of my comps (such as beds, baths, garages and pools) when I did my initial deal analysis.

These tools are free for everyone to use and will improve your estimated ARV in under an hour.

Is an hour of your time worth $15,000?

I'll leave you with the link to the ARV calculator and comps adjustment tool if you want to try it out:

https://tools.reikit.com/comps

Comment below or chat on the site if you have any questions or even to just let me know how it worked out for you.


Cheers!

Kuba

Hi Everyone,

Kuba Fietkiewicz here, founder of REIkit.com online house flipping and wholesaling software, based out of Los Angeles.

For a little background, I built REI/kit to allow investors to become experts at deal due diligence, with tools for:

• Running comps and calculating ARV the right way
• Estimating rehab costs with nationwide costs indexed to a zip code
• Analyzing deals based on multiple criteria
• Marketing those deals to your cash buyers list or lenders using the most trustworthy reports in the business

In the process, over 30,000 people have used our tools as part of their real estate investing systems.

There was something missing, though.

A way to widen the top of the lead funnel and open it up to fresh distressed seller leads.

Leads coming straight from a homeowner motivated enough to fill out a form on a website offering to help them with their property.

It made perfect sense to create a tool that would capture those leads, and that's why I created the new online Lead Pages.

Lead Pages

A lead page, also known as a “squeeze” page, is a page on the internet that has only one goal, and that is to get the person visiting the page to submit their contact information via a lead form.

REI/kit takes the hard part of design and technology setup off your hands, so that you can focus on the most important thing that will make your business blow up: marketing, marketing, marketing.

The best part, is that it will take you literally 2 button clicks to create your first lead page for your business.

You don’t have to hire a designer, you don’t have to pay for hosting -- all of the technology is set up for you.

All you have to worry about is pointing your marketing campaigns at your squeeze page, where sellers come to you, day or night, rain or shine.

Seller Leads CRM

And, if you have leads, you need a place to store them, which is where the Customer Relationship Management system comes into play. 

As leads submit their contact information to your online Lead Pages, they are instantly entered into your Seller Leads CRM, to track and create complete profiles on, from first contact to closing.

Try out the REIkit Lead Pages and Seller Leads CRM, as well as all of the due diligence and property marketing tools today with a free, risk-free trial at this link:

https://www.reikit.com

Any questions on the software, I'd love to hear them, leave a comment below or chat on the site.

Cheers!

Kuba

Hey BP Community,

Kuba Fietkiewicz here, founder of REIkit.com house flipping and wholesaling software.

Today I'll talk a little bit about two 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 features like beds, baths, garages and pools before you commit to a deal.

Run an analysis on your potential deal instantly with the ARV Calculator and Comps Adjustment tool today.

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

Hi Everyone,

Kuba Fietkiewicz here, founder of REIkit.com house flipping and wholesaling software, based out of Los Angeles.

Real estate investors today know that finding deals is not as easy as it was just a few years ago.

Properties on the MLS are going for tens and sometimes hundreds of thousands of dollars over asking.

This makes finding a deal on the MLS very difficult, although there are still deals to be had if you can find a property that is hugely undervalued.

The alternative to the MLS is to think outside of the box, and utilize every single method, strategy, and website that can possibly net a deal.

Such sources of deals can be as well-known as putting out 'We Buy Houses' signs on every street corner.

Not so obvious methods would be looking at property seized by the IRS or other government real property surplus sites.

That's just one example of how to find wholesale and off-market deals online.

I have compiled a list of 54 other methods, check them out at this link:

55 resources to find real estate deals online

Check out also the sister articles on the site:

27 ways to find real estate deals offline

and

35 ways to find deals by cultivating relationships

Let me know if I missed any techniques in the comments below...

Cheers!

Kuba

15% at the bottom, then it goes up commensurately with the risk of the project as determined by scope of work and consequently hold time.

Hi BiggerPockets Community,

Kuba Fietkiewicz here, founder of online real estate investment software REIkit.com, based out of Los Angeles.

REIkit offers a 7-tool system that works to bring in distressed seller leads, track and prioritize those leads, and create on that lead's property a highly detailed property analysis with robust property due diligence, and then market those properties.

The only system you need, with:

Lead Pages: Unlimited online page creation in two clicks of a button. Your creative options are endless: one page for each of your target neighborhoods to bring in distressed seller leads, one for locating cash buyers, and so on.

Seller Leads CRM: Leads from your Lead Pages automatically show up in your integrated CRM, to track, tag, and create tasks. Upload contracts and other documents. Upload leads from any list provider or lead source.

Bullseye ARV: Search for comps and calculate a true After Repair Value (ARV) the way an appraiser would. This includes the ability to adjust your comps by assigning feature values.

Accurate Rehab Cost Estimates: Create itemized rehab cost estimates with nationwide costs indexed to a zip code, without needing a contractor, and know the real cost of your rehab before you make your offer.

Account for Holding Costs: The most comprehensive list of holding costs for you to itemize so that you can be sure that you account for every penny of the project.

Multiple Exit Strategy Analysis & Offer Price Guidance: Fool-proof guidance on what to pay for the property to make the most profit based on your investment criteria.

Reports for Lenders: Get funded faster with comprehensive deal numbers that display your expertise.

Present to Cash Buyers: Market your property to other investors and get it under contract quicker with professional presentations.

Consolidate your current tools, or start your business right with an integrated system from REIkit!

I invite you to a full-featured, free, risk-free trial of the software to discover all of the tools here:

https://www.reikit.com

If you have any questions about the software, drop a comment below or catch me on chat at the site.

Cheers!

Kuba

Hey Everyone,

Kuba Fietkiewicz here, founder of REIkit.com online house flipping, wholesaling, and buy and hold software based in Los Angeles. 

Today I wanted to discuss common barriers to getting accurate property rehab cost estimates for your fix and flips.

If you've already flipped a few properties, you have some idea of how to approach getting construction cost estimates and maybe even have a solid process in place for doing so on future flips. 

The question is, if you're estimating your own rehab costs without a GC, how much time and effort did you spend in itemizing, quantifying, and estimating costs in a spreadsheet or on paper? 

Were you able to estimate reasonably accurate material and labor costs for all of those repair items?

When doing my own flips, I found that my rehab repair items were a pain to type up, sort, and price, and that's why I created the online Rehab Estimate tool.

In the Detailed Cost Estimate section of the tool, you'll find every item you need to price out repairs -- down to the quantity, size, and cost of the nails used for drywall. 

Simply browse for the item, enter the quantity, and the tool calculates a material and labor unit cost and adds it to your project list.

The best part is that all of the costs are pulled right out of the latest Construction Cost books by one of the most respected names in the industry. 

In addition, they are indexed to a zip code, meaning that the costs you find in the tool are the most up-to-date and accurate for your area.

The online Rehab Estimate Tool is a solid addition to your business - click on the link below to start a full-featured, free and risk-free trial to try it out:

https://www.reikit.com

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

Cheers!

Kuba

PS - when you sign up for a free trial, you'll also get full access to all of the other features in your REI/kit software system, including online Lead Pages, Seller Leads CRM, Premium Data for Comps and ARV, Loan History Information, Deal Analysis, Deal Marketing, and more.

@Alex Varner

Because you don’t know each other, it’s up to you to negotiate in a way that is a win win scenario, whatever that looks like.

50% upfront although not uncommon isn’t a win win starting point generally.

30/30/30 is far more common and a good way to ensure work keeps moving.