All Forum Posts by: Kuba F.

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 full-color 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 comments about the software, would love to hear from you in comments below or chat on the site.

Cheers!

Kuba

Hey Everyone,

Kuba Fietkiewicz here, founder of REIkit.com real estate investment software in Los Angeles. Today I wanted to talk about getting material and labor costs for your rehab estimates, even if you've never set foot in a hardware store or called around for construction bids.

If you're just starting out in the house flipping, wholesaling, or buy and hold business, you may have found out how hard it is to estimate rehab construction costs. There are really only two options in solving that problem:

1. You can bring a general contractor with you to every property you think is a potential deal,

or

2. You can get hands-on experience in identifying what is wrong with a house and do your own estimates.

The first choice is going to become expensive, fast. Unless you are in a position where you can offer work to the GC on a property you acquire, you're not going to get anyone to work for you for free.

The second option is the way to go. 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 Rehab Estimate Tool to help take the unknown out of getting an accurate estimate.

The Rehab Estimate tool has:

• Thousands of items to choose from

• Each item has a material cost and labor cost associated to it

• All costs based on the zip code

• Creation of an itemized list for you to share with contractors for project bids


Try out the instant material and labor costs Rehab Estimate tool on your next fix & flip, wholesale, or rental property today with a free, fully-featured trial:

https://www.reikit.com

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

Cheers!

Kuba

Hi Everyone,

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

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 is particularly close to my heart, because I lost over $10,000 on my first flip by not accounting for features and amenities of my comps, such as garages and pools, when I did my initial deal analysis.

This tool will improve your estimated ARV in under an hour. Is an hour of your time worth $10,000?

I'll leave you with the link to the comps adjustment tool to try it out:

https://tools.reikit.com/comps

Feedback is always appreciated, so comment below or chat on the site if you have any questions or suggestions.

Cheers!

Kuba

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, check out this post: 

55 Resources to Find Real Estate Deals Online

There are two other sister articles on the site as well:

27 Ways to Find Real Estate Deals Offline

and

35 Relationships To Find More Houses to Flip and Wholesale

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

Cheers!

Kuba

Hey 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 flip, I went on the hunt for software that filled the gaps.

Unfortunately, the only analysis tools I could find were 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 I was looking for, and that is required by pro investors.

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

REIkit offers six tools that all work together to cover everything you need to vet a deal and offer on it, or pass:

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.

Plus, REIkit's polished full-color marketing reports:

• Show off your flip project numbers to get hard money lenders on board
• Wholesalers get more contracts sold by sending these beautiful reports to their cash buyers

REIkit also highlights the data you need to make the best buying decisions possible:

The ONLY software that offers Premium Data:

View 50 data points* that give you the big picture, including Loan History and Estimated Owner Equity Amount.

The Estimated Owner Equity Amount information is absolutely invaluable 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
• Save time researching across multiple websites for Annual Tax Amount, Neighborhood, Zoning, and much more...

REIkit is the real deal for expert 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 an absolutely risk-free, full-featured trial of the software to discover all of the tools for your business today, just click on the link below to visit the site:

https://www.reikit.com

Cheers!

Kuba

*where available

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,

My name is Kuba and I'm the founder of REIkit.com house flipping 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 next 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 BP Community,

Kuba Fietkiewicz here, founder of online real estate investment 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 REIkit.com real estate investment software in Los Angeles. 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 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, or include in a marketing pdf to blast out to your cash buyers.

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

Click the link below 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

Hey BP Community,

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

Today I'll talk a little bit about two 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 $$$$$. 

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?

Click the link below to be taken to the site:

https://tools.reikit.com/comps

Cheers!

Kuba