All Forum Posts by: Kuba F.

Hey BP community,

Kuba Fietkiewicz here, founder of online real estate investment 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.

I love hearing success stories from wholesalers and flippers who help homeowners in distress and manage to tuck a little into their pocket as well. This is the ultimate win-win, and it’s part of why I’m so excited to tell you about the new Loan History data released on REIkit.

You’ve already done the work — you drove for dollars and door knocked, did skip-traces and cold-calls. Wouldn't it be great if you had “insider” information to:

REIkit Lien History data shows you all liens that were ever taken out on the property, and specifically:

> The date the lien was recorded

> Lender’s name

> Lender type

> Borrower name(s)

> Is the lien a Home Equity Line of Credit (Heloc)

> Loan amount

> Estimated interest rate

> Mortgage length

> Due date

> Estimated balance remaining

> Estimated Owner Equity Amount

Understanding motivation is gold in this business, and it’s incredibly easy with REIkit.

Head over to the site to check out your property’s Lien 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.

Cheers!

Kuba

Hi BiggerPockets Community,

Kuba Fietkiewicz here, founder of online real estate investment software REIkit.com. In my previous posts, I talk about my house flipping failures and how I overcame them. One way was, of course, by educating myself on what went wrong.

Once I identified how I lost tens of thousands of dollars on my first flips, I went on the hunt for software that could improve my experience and make sure those same mistakes didn’t happen again.

Unfortunately, all of the software I could find was either a downloadable spreadsheet that required constant updates and re-saves, or online software that simply wasn’t powerful enough for the “cover all the bases” analysis that is required by pro investors.

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 offers four tools that all work together to create a highly detailed analysis, as well as providing the data you need to make the best buying decisions possible:

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.

> 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.

REIkit is the real deal for professional deal analysis, and I take pride in continually improving and adding new features that my customers request. Feedback is always appreciated, and the customer support is fantastic.

I invite you to a fully featured, absolutely risk-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.

Cheers!

Kuba

*where available

Hi Everyone,

Kuba Fietkiewicz here, founder of REIkit.com house 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 ways to find deals by cultivating relationships

Let me know if I missed any 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.

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 full-featured, absolutely risk-free trial to get 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

@Ricardo Kendrick

Not extensively with expireds. 

Although most expireds will get you sellers who are unmotivated and unrealistic about pricing, you should be able to succeed with them with the right messaging and follow up systems, and of course hitting enough of them to make it count.

If I were to go after those, I'd look into what Hoss Pratt is doing on the agent side and modify those systems for my market.

Hi BP Community,

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

If you're a wholesaler, flipper, or buy and hold, 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:

https://www.reikit.com/house-flipping-guide/27-ways-find-off-market-wholesale-real-estate-deals-offline

Also check out the sister articles on the site:

55 ways to find deals online

and

35 ways to find properties by cultivating relationships

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

Cheers!

Kuba

Hey Everyone,

Kuba Fietkiewicz here, founder of online house flipping 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 2018 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 sign up for a completely 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

Hi Everyone,

My name is Kuba and I'm the founder of REIkit.com real estate investment software based in Los Angeles. I wanted to let the BiggerPockets community know about a tool that I built out, 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 my 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 my 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 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?

Analyze your property with the tool here:

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 BiggerPockets Community,

Kuba Fietkiewicz here, founder of online house flipping software REIkit.com. In my previous posts, I talk about my house flipping failures and how I overcame them. One way was, of course, by educating myself on what went wrong.

Once I identified how I lost tens of thousands of dollars on my first flips, I went on the hunt for software that could improve my experience and make sure those same mistakes didn’t happen again.

Unfortunately, all of the software I could find was either a downloadable spreadsheet that required constant updates and re-saves, or online software that simply wasn’t powerful enough for the “cover all the bases” analysis that is required by pro investors.

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 offers six tools that all work together to create a highly detailed analysis, as well as providing the data you need to make the best buying decisions possible:

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.

• 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.

REIkit is the real deal for professional deal analysis, and I take pride in continually improving and adding new features that my customers request. Feedback is always appreciated, and the customer support is fantastic.

I invite you to a unlimited 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 Everyone,

Kuba Fietkiewicz here, founder of REIkit.com house flipping 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 while 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; click on the link below to read:

35 relationships to help you find more houses to flip or wholesale

Also check out the sister articles on the site:

55 ways to find incredible wholesale and off-market deals online

and

27 off-line tactics to find properties

Let me know if I missed any on the site or in the comments below.

Cheers!

Kuba