All Forum Posts by: Kuba F.

Your third partner is the money partner, but only on a per deal basis.  They will not only have to see that the deal is good, but also that you are capable of executing it, so you need to build relationships and trust.  

 I think you will find this to be true wherever you go all over the country as you learn the ins and outs of each market.

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, check out this post: 

https://www.reikit.com/house-flipping-guide/55-resources-to-find-real-estate-deals-online

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

Cheers!

Kuba

It was probably a 2MM house so that 70K would account for barely a 3.5% gain and it probably didn't account for their private money cost at 10% so they actually lost over 100K, but you know, details....

Hi Everyone,

Kuba Fietkiewicz here, founder of online real estate investment software REIkit.com. Glad to be a part of this amazing community here on Biggerpockets. Today I wanted to talk about a popular real estate saying: "You make your money when you buy" and the tools you can use to get to an incredibly accurate ARV for a property.

What does it mean to "make your money when you buy?" In a nutshell, it means that your profit potential is determined by the amount of due diligence you perform on a property, and how accurate your numbers are.

While most real estate investors are familiar with the work of running comps and averaging them to get to an After Repair Value, there's an additional step in the process that will reveal the True ARV of the property.

This extra step, which usually takes less than an hour, is in adjusting the comps you've found for differences in features, such as bedrooms, bathrooms, garages and pools. If all of your comps have a garage, and your subject property does not, that's going to be a 10-20k hit to your wallet when it comes time to sell. 

The time to find this out is before you buy, not after the rehab. That's what is meant by "you make your money when you buy," and that's why it's so important to adjust your comps.

I built out the Comps Adjustment tool within the free ARV Calculator on REIkit because this step is so crucial to your success. 

To evaluate your latest potential property, and get to a more accurate ARV today, check out this link:

https://tools.reikit.com/comps

If you have any questions or suggestions about the tool, chat with me on the site, or you can leave a comment below.

Cheers!

Kuba

Hi BiggerPockets Community,

This is Kuba Fietkiewicz, 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.

REI/kit offers four tools that all work together to create a highly detailed analysis:

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.

REI/kit 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 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

Hi Everyone,

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

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


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

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 off of the internet:

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

If I missed any boots on the ground techniques that aren't in the post, I'd love to hear it -- let me know in the comments below or on chat at the site.

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, check out this post: 

55 Resources to Find Real Estate Deals Online

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

Cheers!

Kuba

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