All Forum Posts by: Kuba F.

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:

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

Hi BP Community,

Kuba Fietkiewicz here, founder of online house flipping and wholesaling 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 real estate 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 Incredible Deals Online

and

35 Ways to Find Properties by Creating Relationships

Let me know if I missed any in the comments below!

To your success!

Kuba

Hey Everyone,

Kuba Fietkiewicz here, founder of REIkit.com house flipping and wholesaling software based out of Los Angeles. Today I wanted to talk a little about how you can estimate your rehab costs without a General Contractor.

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.

Wholesaling:

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 Estimation 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.

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

Click the link below to find out details or sign up for a risk-free, full-featured trial 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.

To your success!

Kuba

P.S. - when you sign up for a free trial, you'll also get full access to all of the other features in your REIkit.com software dashboard, including a fully-customizable Website, Seller Leads CRM, Premium Data for Comps and ARV, Loan History Information, Deal Analysis, Marketing, and more!

Hi Everyone,

Kuba Fietkiewicz here, founder of REIkit.com real estate investment software for house flippers, wholesalers, and buy and hold.

I'm excited to announce that the REIkit suite of due diligence and deal marketing tools now includes a fully-customizable Website for generating motivated seller leads, and the Seller Leads CRM!

You also get Bullseye ARV and Comps Adjustment, Rehab Estimates with Nationwide costs, Premium Property Data, Marketing tools, and more in one integrated dashboard that takes the place of 7 other software subscriptions.

This system is going to streamline how you run your business, by gathering those seven tools together into one dashboard, so that every detail on a property, or on a lead, is right at your fingertips.

For more details, click on this link: 

https://www.reikit.com

Cheers!

Kuba

Hi Everyone,

Kuba Fietkiewicz here, founder of REIkit.com 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 very difficult, although there are still deals to be had if you can find a property that is hugely undervalued.

The alternative to the 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, click on this link to read the post:

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 online techniques in the comments below...

Cheers!

Kuba

Hi Everyone,

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

Real estate wholesalers and flippers 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 whether 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

Also check out the sister articles on the site:

55 ways to find wholesale and off-market deals online

and

27 no-internet-required tactics to find properties

Did I miss any? Leave a comments below!

Cheers!

Kuba

Depends what you want out of life.  To me, I see a whole lot more risk in staying in a W2 that pays $13/hr, even if the 1099 only lasts a month.  Now is the time to learn how to be scrappy and how to build or fail at building a business, then do it again.    

How big is the house?  The two major risks that you have (and have mentioned) are a softening market that will hit the upper end homes first, and that you should expect that the rehab will go over budget.  In general, you should aim for at least 15% profit.  You'll have other holding costs beyond your money costs: taxes, insurance, utilities. I don't know what your transfer costs are in AZ but they seem low to me.  At that level you'll also want to stage the property, so add another 3-5K for that.  All of these things add up and squeeze your profit.  All that being said, for these days, it's not a bad start.  If you were using hard money, it might not have been doable, though.

@Ethan Pankratz

If you have projects at different time horizons then the best way to compare them is using an annualized rate of return. Take the ROI of each scenario and extend it to a year.

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 generation 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:

The websites feature will give you the following capabilities, right out of the box:

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

• 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

• Able to be secured with a secure certificate for even better rankings

• Create 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 Seller Leads CRM

• 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 75,000 deals, improving the efficiency of their deal due diligence, for more investments, and more profit!