All Forum Posts by: Kuba F.

Principal, Interest, Taxes, Insurance, otherwise known as the mortgage payment.  I think he meant subtract the mortgage payment from the rent, but the overall point that more thought needs to be put into how much it costs to acquire and run a property is still valid.

Hi BP Community,

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

If you're a wholesaler, flipper, or buy and hold investor, you need to use every tactic and technique available to keep your deal pipeline flowing.

In this post I focus on 27 ways to find deals that don't require the internet -- anyone can use these methods, and many are low-cost:

27 Ways to Find Off-Market and Wholesale Deals Offline

Also check out the sister articles on the site:

55 Ways to Find Deals ONLINE

and

35 Relationships You Should Cultivate to Find More Properties

Let me know if I missed any in the comments below!

Cheers!

Kuba

Hi Everyone,

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

For the other 54 methods, click on this link to read the post:

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 Relationships to Help You Find More Houses to Flip or Wholesale

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

Cheers!

Kuba

Hi Everyone,


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

REIkit 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 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

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

Hey Everyone,

My name is Kuba and I run my online wholesaling and house flipping 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 deal 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.

Check out what your property marketing page could look like in just a few steps:

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

I offer 7 and 14 day free, absolutely risk-free trials to try out the Marketing tool for your business here: 

https://www.reikit.com

Feedback is always appreciated, so feel free to leave your comments below or chat on the site.

Cheers!

Kuba

It's true, that in most areas, contractors won't want to visit your property prior to your having the property under contract, but paying them $300 for an estimate can overcome that. You can probably see that if you plan on investigating more than one property, how that can add up quickly before you even have a deal. So the best thing you can do is to educate yourself as quickly as possible.

For that, definitely check out the Jscott book, it's one of the best ways to get your estimating legs.

You might also want to check out this BiggerPockets blog post that I wrote a while ago:

Cheers!

Kuba

Hey BP Community,

Kuba Fietkiewicz here, founder of REIkit.com house flipping, wholesaling, and buy and hold 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  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 free ARV Calculator and Comps Adjustment tool today.

What have you got to lose, but lost time and money? 

Click the link below to try it out:

https://tools.reikit.com/comps

Cheers!

Kuba

Hi Everyone,

Kuba Fietkiewicz here, founder of REIkit.com real estate investment 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.

For the other 54 methods, click on this link to read the post: 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 methods in the comments below, would love to hear them.

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

Try out the Marketing tool today by clicking the link below and signing up for a full-featured, risk-free trial:

https://www.reikit.com

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

Cheers!

Kuba