All Forum Posts by: Kuba F.

Hey BP community,

Kuba Fietkiewicz here, founder of online real estate wholesaling software REIkit.com.

Today I’m going to make it short and sweet, and let you know about a tool that will give you greater negotiation power with a motivated seller.

You’ve already done the work — you drove for dollars and door knocked, did skip-traces and cold-calls. Get an edge with “insider” information on the owner's loan history, including the estimated owner equity amount:

Discovering motivation is key in this business, and it’s incredibly easy with REIkit, by using the loan history information to:

• Know instantly if there is any wiggle room at the negotiation table with Estimated Owner Equity Amount
• See how many times the owners have refinanced
• Use this knowledge to uncover whether they owe more than the property is worth
• Save time by removing owners that you can’t help from your list before you engage them

Head over to the site to check out your property’s Loan History data by clicking the link below and signing up for a free, risk-free trial:

https://www.reikit.com

Any questions feel free to leave a comment below or chat on the site.

To your success!

Kuba

Thanks for commenting, @Tracy D. Garrett-Numa! 

I know @Carlos Altamirano is one of our long-time valued customers that can provide feedback. I hope others chime in as well with their experiences, good or bad.

The tool in the post above is free for everyone to use, so you are welcome to click on the link and try it out. I'd love to hear what you think.

Kuba

Hey Everyone,

Kuba Fietkiewicz here, founder of REIkit.com real estate investment and property rehab estimation software for flippers, wholesalers, and buy and hold. Today I wanted to talk about how you can estimate your rehab costs without a GC.

Fix and Flip:

If you're a property flipper, you may have already tried to find an investor-friendly GC that would walk through 30+ properties with you to price out repairs, but it's not likely that you'll find one that will work for free.

Wholesalers:

If you're a wholesaler who wants to give their cash buyers the best repair estimate possible without spending thousands in GC walkthrough costs...

You are left with few options, the best of which is learning how to price out your own repairs.

Yes, it requires more time and effort, but the education you acquire and eventual savings will more than make up for that. So, what's the best way to get this experience?

In my own fix and flips, I evaluate as many properties as I can find, and when I go to visit a potential flip, I take along my camera phone and film a walk through of each room and the exterior, carefully narrating what needs repairing.

Then comes the difficult part: identifying all the items involved with a repair, itemizing all of these costs into one tidy list, and calculating the final cost. For example, a window repair not only includes the cost of the actual window but also the labor that it costs to install it.

I created the property Rehab Estimate tool to help take the unknown out of getting an accurate estimate.

Not only does the tool have thousands of items to choose from, but each item has a material cost and labor cost associated to it, with all costs based on your zip code, so you get the most accurate estimate.

From there it creates an itemized list for you to share with contractors for project bids.

The Rehab Estimate tool is as close as you'll get to accurate rehab costs, without a GC.

Click the link below to sign up for a risk-free, full-featured trial to try it out:

https://www.reikit.com

Any questions or suggestions, I'd love to hear it; comment below or chat at the site.

Cheers!

Kuba

Hi Everyone,

My name is Kuba and I run my real estate investment software company, REIkit.com, out of Los Angeles.

I wanted to let you know about a feature in REIkit that allows you to send beautiful wholesale marketing reports in minutes to your buyer’s list.

After putting in the property details, REIkit's online interface creates a detailed property page that you can download, print, or share with anyone.

Here’s what your property marketing page can look like in just a few steps:

https://tools.reikit.com/properties/0d89ffde

Click the link below and sign up for a free, absolutely risk-free trial to get unlimited access to the Marketing tool and much more:

https://www.reikit.com

Any questions or suggestions, feel free to leave a comment below.

Cheers!

Kuba

Hi Everyone,

Kuba here, founder of REIkit.com house flipping and property wholesaling software based in Los Angeles. I wanted to let the BiggerPockets community know about a tool that I built out that is free for anyone to use, the Comps Adjustment Tool, 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 $10,000 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:

https://tools.reikit.com/comps

Feel free to reach out to me here in the comments or on the site chat if you have any questions or suggestions.

Cheers!

Kuba

Hi Everyone,

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

Real estate flippers and wholesalers today know that finding deals is not as easy as it was just a few years ago, but one thing remains true: real estate is still very much a relationship-based business. 

So whether you're driving for dollars, hustling with bandit signs, or setting up lead generation online, you still need to build those relationships. 

In this post I highlight 35 real estate business relationships you should build to maximize the number of leads you get:

35 Relationships To Help You Find More Houses To Flip or Wholesale

Also check out the sister articles on the site:

55 Resources to Find Wholesale and Off-Market Deals Online

and

27 Ways to Find Off-Market Deals Offline

Did I miss any? Let me know on the site or in the comments below.

Cheers!

Kuba

Hey Everyone,

Kuba Fietkiewicz here, founder of online flipping and real estate wholesaling software REIkit.com, 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 read more and start a full-featured, 7 or 14 day 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

Hey BP Community,

Kuba Fietkiewicz here, founder of REIkit.com real estate investment 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.com online free 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 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 BiggerPockets Community,

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

In my previous posts, I talk about the mistakes I made during my first flips, and how I ultimately learned from them.

Around that time, I searched for software on the market that was powerful enough for the “cover all the bases” analysis that is required by pro investors, but they all fell short.

That’s when I decided to build out REIkit.com, addressing many of the limitations of the software that is available, and making sure the analysis tools are a thorough as possible.

REIkit has the tools and data that all work together to create a highly detailed analysis of your property:

Premium Data: View 50 data points* that give you the big picture, including Lien History data such as Borrower name and Estimated Owner Equity Amount.

Use this information to understand:

• How many times the owners have refinanced, are they upside down?
• Save time by removing owners that you can’t help from your list before you engage them
• Know instantly if there is any wiggle room at the negotiation table with Estimated Owner Equity Amount
• Save time researching across multiple websites for Annual Tax Amount, Neighborhood, Zoning, and much more.

Appraisal-Quality 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 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.

Once you’ve done your analysis:

• Get funded more quickly by sharing polished reports of your deal fundamentals with your hard money lenders.
• Wholesalers can market a property to other investors and get it under contract quicker.

I invite you to a full free trial of the software to discover all of the tools for your business here:

https://www.reikit.com

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

Kuba

*where available

Hi BiggerPockets Community,

Kuba Fietkiewicz here, founder of online real estate investment software REIkit.com. Today I want to talk about how you, as wholesalers looking to market to your buyer's list, can create professional reports to send to them in minutes.

When I first started REIkit.com, I often got requests for new tools from wholesalers who were presented with an interesting problem. They were finding deals, running comps and getting ARV so that they can present to their buyer's list a deal that investors would want.

The problem was that they were frustrated with the limitations of the word processing programs they were using to create these deal sheets. They thought they were difficult to put together, boring to look at, and just didn’t present that professional, polished look they wanted to show.

I took all that feedback in and created an interface where wholesalers can build out a property detail report in just a few steps. It looks great, and best of all can be printed, emailed, or shared. See what an example report looks like here:

https://tools.reikit.com/properties/0d89ffde

Try out the wholesale deal report builder with a free trial by clicking on this link: 

https://www.reikit.com

Any questions or suggestions about the software, would love to hear from you in comments below or chat on the site.

Cheers!

Kuba