All Forum Posts by: Kuba F.

I grew up in Saskatoon. Great town. I agree Pinterest is awesome for design inspiration. How do you find trades on instagram?? Throw in quickbooks for when it’s all over.

Often people mistakenly think that making an offer using the seller’s agent will more likely get their offer accepted. Even I used to advocate that, and I couldn’t have been more wrong. That may or may not the case here. In general 99% of people involved in trying to sell you real estate have a direct conflict of interest with you when it comes to valuing that property, so get your own independent value.

I've also been very happy with NREIG.  I also looked into Foremost, although I don't have experience with them or whether they extend to HI.

@Hunter Harms I just posted a biggerpockets article about what you're looking for -- it has a very lengthy list of all the purchase, sale and holding costs you should look out for as well as the approximate costs for all of them. Hope it helps: https://www.biggerpockets.com/blogs/8814/70530-fix-and-flip-project-costs-purchase-sale-and-holding

Hey Everyone,

Here on Biggerpockets you see questions from the community such as, "what is the biggest mistake you've ever made in investing." People want to know what actions they can take to not make the same mistakes. I have my own flip disaster story, that I often share on webinars, about how to fail at flipping. On my first flip, there were a number of events that went wrong that I could have foreseen. In retrospect, however, I never would have purchased the property in the first place had I known what I do now. One of the main reasons why the flip failed is because, when calculating the ARV of the property I wanted to buy, I did not adjust my comps for features.

If I had taken the extra 30 minutes to compare the subject property features, like garages, against the comps, I would have discovered that the subject just didn't have features that all of the other comps did, erasing $10,000 dollars of my expected profit.

My frustrated experiences led me to create my real estate investment software company, REIkit.com. One of the first tools I built is a free ARV calculator, that also includes a comps adjustment tool, to help others avoid the same outcome.

If you think the ARV calculator and comps adjustment tool would benefit you, I welcome you to try it out. There is also a video tutorial on how to adjust comps to get to an accurate ARV: https://tools.reikit.com/comps

If you have any questions, feel free to reach out.

Cheers,

Kuba

@Adam Mazzochi, Glad to have you here on BP. 

Redfin is a great resource for finding comps, if they are in your area, and Manorville, NY has Redfin coverage. I go with Redfin because it is essentially a broker and gets property information directly from the MLS, updating the listings about every 15 minutes, so it's quite up to date.

If you want specific recommendations for tools where you can calculate ARV using your own comps let me know and I'll PM you.

I wrote a biggerpockets blog post on a step by step breakdown of how to find comps and calculate ARV, check it out here: https://www.biggerpockets.com/blogs/8814/68395-how-to-find-real-estate-comps-and-calculate-after-repair-value 

Welcome @Amir Keric! We invested in Saint Louis, predominately in the Tower Grove area. If you need any resources to springboard your search, let me know and I'll pass them along. 

As far as St. Louis meetups, here is a great list from Biggerpockets of investment clubs: https://www.biggerpockets.com/rei/real-estate-clubs/

Best of luck!

Kuba

Hi all,

When I first started REIkit.com, my real estate investment software company, I often got requests for new features 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/8a10533a

If you’d like to try out the wholesale deal report builder we have a free trial available for you here: www.reikit.com

Cheers,

Kuba

Hi Everyone,

I run an online software company in Los Angeles, REIkit.com, and I wanted to let you know about a free tool I created that lets you input your real estate comps and then adjust them for differences in features such as pools and garages. Many investors use a spreadsheet to average a potential property's comps for ARV, but by doing that they miss out on an important factor in the process, which is how all of the comparables stack up against the subject property. No two houses are exactly alike, and not adjusting them is a surefire way to lose money on a deal.

The REIkit comps adjustment tool is free for anyone to use, and I encourage you to use it because getting to the right ARV is so crucial in the real estate business. Take the REIkit.com free comps adjustment tool for a spin at https://tools.reikit.com/comps

Cheers,

Kuba

@Steven Escobedo Glad to help or refer someone who can, feel free to forward their contact info.