All Forum Posts by: Kuba F.

Hey BiggerPockets Community,

Kuba Fietkiewicz here, founder of REIkit.com online house flipping and wholesaling software, based out of Los Angeles.

Today I'll talk a little bit about two free 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 online 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 instantly with the ARV Calculator and comps adjustment tools today:

https://tools.reikit.com/comps

Let me know how it works for you in the comments below or on chat at the site.

Cheers!

Kuba

Hey BiggerPockets Community,

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

Today I'll talk a little bit about two free tools that will make you look like a rock star to your cash buyers. The first is the After Repair Value calculator, and the second is the Comps Adjustment tool.

Putting yourself in your buyer's shoes, there are two questions you have to ask yourself when analyzing a potential property to put under contract.

Can the buyer profit?

First, you need to know if your cash buyers will even consider the deal you're looking at. Does it have enough spread to fit both your AND their profit? Getting an accurate After Repair Value can be accomplished with this free tool that imports comps for your property.

How do we get to Win-Win

Seasoned cash buyers can smell a bad deal from a mile away, but as you bring your buyers win-win deals, they will keep coming back for more.

How do you get to win-win stage? It's easy, take the time to do the research on a property you're putting under contract by performing a comps adjustment on it.

99% of wholesalers will not take this extra step; but I guarantee you, when you do the legwork, and get to the same result as the cash buyer, THAT is a deal worth working.

Run an analysis on a potential property you're interested in getting under contract instantly with the free ARV Calculator and Comps Adjustment tools today by clicking on this link:

 https://tools.reikit.com/comps

Let me know how it works for you in the comments below or on chat at the site.

Cheers!

Kuba

Hi BP Community,

Kuba Fietkiewicz here, founder of online house flipping and wholesaling software REIkit.com based out of Los Angeles. Today I want to let you know about the free resources on the REIkit website....

Whether you're a wholesaler, flipper, or buy and hold, you need to use every tactic and technique available to keep your deal pipeline flowing!

Below, check out these 3 posts for a massive total of 117 ways to find wholesale and off-market properties offline, online, and by building relationships.

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

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

You're bound to find a gold nugget or two in this list of online methods to find more properties:

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

35 relationships you should build to find more houses to flip and wholesale

You never know who will have a lead! Check out this list and start creating win-win relationships everywhere you go:

https://www.reikit.com/house-flipping-guide/35-relationships-to-help-you-find-more-houses-to-flip

Did I miss any? Let me know what you think in the comments below!

Cheers!

Kuba

In general you want to start small to remove as much risk of the things that you don't know you don't know.  With a paint and floors rehab the margins are thinner and so is the risk.  This way you limit the downside while learning the trade.  The trouble is finding a paint and floors deal, though you should be able to use your wholesale marketing skills for that purpose.

Hi Everyone,

My name is Kuba and I'm the founder of REIkit.com online house flipping and wholesaling software based in Los Angeles.

I wanted to let the BiggerPockets community know about two tools that I built out that are free for anyone to use: the ARV Calculator and 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 the comps had a garage, and my property did not.

That was an expensive mistake that shaved $15,000 off the profitability of my flip.

If I had just taken a few extra minutes to adjust the 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 free ARV Calculator and 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?

Click this link to analyze your property with the tool instantly:

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 and wholesaling software REIkit.com. Today I want to talk about how you, as wholesalers looking to market to your buyer's list, can create professional deal sheets 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 calculating After Repair Value 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

For more details, or to try out the wholesale deal report builder with a free trial, click 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

P.S. - When you sign up for a free trial you get full access to ALL of the 7 tools in your REIkit.com dashboard, including fully customizable Websites, Seller Leads CRM, Premium Data for Comps and ARV, Rehab Estimation, Loan History Information, Deal Analysis, and more!

Hi Everyone,

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

I have compiled a list of 54 other methods, check it out at this link:

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,

Kuba Fietkiewicz here, founder of REIkit.com online house flipping and wholesaling software system, based out of Los Angeles. Today I wanted to talk about our newest lead capture feature: Investor Websites.

When you choose to build an REIkit.com website, you don't JUST get a website. You get access to all of these incredible features that are completely integrated:

• Seller Leads CRM
• Premium Data for Comps and After Repair Value calculations
• Loan History Information
• Rehab Estimation
• Deal Analysis
• Deal Reports
• and more...

Here are the details on the Websites:

• Create a complete real estate investor website in just two button clicks

• Be Search Engine Optimized (SEO) from the start to get you ranking on Google, with search-optimized text that speaks to your distressed seller

• Use your own domain or our subdomain

• Build unlimited landing pages inside your website

• Responsive -- your website and lead forms adapt to different browsers, phone screen sizes, and desktop machines. Hugely important if you advertise on mostly mobile social networks like Facebook

• Seller lead capture form integrates with the Seller Leads CRM

• Wholesalers, advertise your Deal inventory right on your website

Check out what your Website can look like here: https://www.reikit.co/

For more details, or to start a full-featured free trial of Websites and all of the integrated tools, click on this link today:
https://www.reikit.com
Any comments or suggestions, I'd love to hear them...
Cheers!
Kuba

PS: Curious about our company? Thousands of real estate investors have used our software to evaluate over 85,000 properties, improving the efficiency of their deal due diligence, for more investments, and more profit!

You're very likely to be working for free in this deal.

At that spread between purchase and ARV, you have only between 10-15K of money after transfer and holding costs and that is if you don't finance and pay all cash. This is 10-15K for both rehab costs and profit.

Let's say it's 1500 sqft.  New floors @ $5/sqft = $7,000  Paint @ $3/sqft = $4,500, water heater $1000-$1800.  

You really need to define what it is that you can do to this property to increase it's value by 50-60K for less than 5K of rehab.

Hi Everyone,

My name is Kuba Fietkiewicz and I run my online house flipping and wholesaling software company, REIkit.com, out of Los Angeles.

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.com 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 build out all the tools on the site...

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, which is part of the free ARV Calculator, is particularly close to my heart, because I lost over $15,000 on my first flip by not accounting for features and amenities of my comps (such as beds, baths, garages and pools) when I did my initial deal analysis.

These tools are free for everyone to use instantly and will improve your estimated After Repair Value in under an hour.

.

Is an hour of your time worth $15,000?

I'll leave you with the link to the ARV Calculator and Comps Adjustment tools:

https://tools.reikit.com/comps

Comment below or chat on the site if you have any questions or even to just let me know how it worked out for you.

Cheers!

Kuba