All Forum Posts by: Kuba F.

Your average buyer is not informed enough on the cost benefit tradeoffs of these technologies to be able to perform a thorough analysis of the improvement, and so they won't perform it, and therefore the demand simply does not exist.  

If people factored in the costs to operate a property as part of the purchase equation, then perhaps they would be able to compare apples to apples, but that's just not how we value property these days. This leads to the unfortunate result that your $40,000 panels that will save the buyer $80,000 over the average home ownership period only add $5,000 to the value of the property for the seller.

NREIG

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

In Los Angeles that's the only way for some people to get into the housing market in a decent neighborhood below 1MM, so the reward is not the discount, but the ability to even enter the market.

You should do fine as long as you don't overimprove, and as long as it's not in terrible shape.  Make sure to visit your competition that's on the market right now to figure out how much to put into this place.

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 save you time and 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 Lien 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:

• 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.

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

1. The date the lien was recorded
2. Lender’s name
3. Lender type
4. Borrower name(s)
5. Is the lien a Home Equity Line of Credit (Heloc)
6. Loan amount
7. Estimated interest rate
8. Mortgage length
9. Due date
10. Estimated balance remaining
11. 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 trial:

https://www.reikit.com

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

Cheers!

Kuba

Late to the party but I guess I'll give my 2 cents anyways.

99% of people involved in getting your flip from purchase to sale have some sort of conflict of interest with you and the #1 way of overcoming this is with knowledge.  This is why mentors can play an important part in the pursuit of that goal, however ironically they frequently also suffer from that same conflict of interest.

Great job guys!  When I walked the comps this was a no-brainer for me and with Zerik's design aesthetic there was no doubt you would hit it out of the park, now shut up and take my money!

Since you're rehabbing for rental, you really have to look at the age of your major systems as part of your value analysis not only to see whether or not to update them now or later, but so that if you don't update them now, then when you do replace them, how will they hit your cashflow and reduce your overall IRR of the project throughout it's lifetime.

I'd say that's a bit on the high end, so I'd get additional quotes.