ChatGPT Monitor

What is ChatGPT and Why You Should You Care as a Real Estate Wholesaler?

You’ve probably been getting inundated with news about ChatGPT from all directions; I’ve certainly been talking about it often enough with REI/kit’s ChatGPT integration! It is because I believe so strongly in what it can help you accomplish, that today I want to step back and give you a taste of WHY you should care about this powerful tool, and how it can truly benefit your real estate wholesaling business, even if you don’t use it with REI/kit real estate wholesaling software (which of course you should).  ChatGPT is an extremely powerful tool created by OpenAI that understands and generates human-like text based on the input it receives. It’s like… Read More

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Direct Mail Postcard Preview

Direct Mail Postcards are Now Launched in REI/kit

FOR IMMEDIATE RELEASE: Direct Mail Postcards are Now Launched in REI/kit (Virtual Real Estate Wholesaling Marketing Just Got Real)   Hi there, There is a massive shift going on in the marketing channels used by the virtual wholesale real estate industry, requiring expert marketers to completely rethink how they’re getting their message out.  Anyone using one single marketing channel to get their message out right now is feeling the pinch. Let’s take cold calling for example. We’ve all gotten car warranty phone calls. Like me, you likely stopped picking up the phone, and if you or your VA’s cold call leads, you probably noticed that fewer and fewer leads pick… Read More

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Skip Tracing: Ultimate Guide to Find a Property Owner

Skip Tracing Real Estate: Ultimate Guide to Find a Property Owner NOW

Skip Tracing Skip trace anybody and any property using the techniques and tools in this guide and get the leads your competitors can’t. It’s true, if you’re a real estate investor, 98% of the time when your competition is door knocking and sending yellow letter campaigns, they are stopped cold when the homeowner does not respond. In this article, I’m going to walk you through everything you need to find anybody, but in particular owners of real estate and even for an abandoned or distressed property. These skip tracing methods can initially seem difficult or confusing, however, if you’re able to track down an elusive owner, you will be able… Read More

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Real Estate Investor Marketing Plan

4 Types of Motivated Sellers That Real Estate Investors Need To Be Marketing to Right Now

The current state of affairs related to the Covid-19 pandemic continues to affect millions of homeowners and businesses. Very few people have been left unaffected by this pandemic, with many who had plans to sell their properties from before the virus spread, but can no longer do so. While the government is helping those in need who are having trouble making their mortgage payments, and preventing foreclosures, there’s now a lot of other people who don’t need government assistance, but still need your help. They were motivated to sell their properties before the virus, and now because of it, they are more than ever looking for your help, and a… Read More

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Real Estate Marketing to Empty Nesters

How to Dominate the Most Profitable Real Estate Segment That No One is Marketing to Right Now

If it’s not obvious yet, these are undoubtedly unprecedented times that we are living in. Times that will surely make people with a bias for action a lot of money. Unfortunately, I’m seeing a lot of real estate investors sitting on the sidelines and watching Netflix, instead of taking advantage of the opportunity right in front of them.  I hope that you can be one of the few who does, by Hustling From Home (TM). Now, before I continue, while I believe that it is a great time for you to take advantage of the additional motivations created by the Corona virus, I categorically do not condone or advocate using… Read More

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Comps Cash Sale and REO Indicator

[Software Update] Even more accurate comps with NEW extended comps data

If you care about accurate comps, or cash buyers, then you might want to read this all the way through. For the last 2 years since switching away from the inadequate free Zillow data in our paid app *, we have worked tirelessly to bring you the most accurate comps that meet appraisal best practices, and the tools to perform an appraisal-like sales comparison analysis.  (* we do still use the free Zillow data on our free comps tools for demo purposes) For those in the know, our tools and premium data are by far better than most tools out there at any price. But being better than the other… Read More

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Construction Project Management

Best Construction Project Management Software for House Flipping

I have written extensively that if you are house flipping then you should not be focusing on figuring out what project management software you should be using, instead you should be looking for the best house flipping software which focuses on your deal pipeline. However if project management is a problem that you are trying to solve for in your house flipping business, then you should be looking for best in class construction project management software, and I have some recommendations for you depending on the size of your house flipping business.   Just starting out? If you’re doing less than 10 deals a year, you can download a free… Read More

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Product Update: Teams Functionality Released

I am happy to announce that the Teams feature has finally been released as part of the REI/kit software for flipping houses. In this software product update I will discuss the following: What is the Teams feature? What are some common use cases for the Teams feature? On which plans is it available? I am on one of the supported plans, how do I invite my team?   What is the Teams feature? With the Teams feature of the flipping software, you will now be able to invite other team members into your account, and only give them the specific permissions that they need to do their jobs. This will… Read More

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Distressed Seller Lead Pages

REI/kit Real Estate Investor Websites launched: Rank better, and capture more warm motivated seller leads than ever before

If you know anything about how we operate, then you know that our primary goal is to provide you with the tools and data to help make you a successful real estate investor. Whether you’re wholesaling houses, or house flipping, or finding rentals by marketing direct to seller, we are only successful if you are successful. To that end, after spending many months in product development, writing over 19,000 lines of code, and building out a completely new highly scalable and secure infrastructure, I am proud to release the next generation product in our suite of real estate investor tools: REI/kit Real Estate Investor Websites. REI/kit real estate investor websites… Read More

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Best House Flipping Software Header Image

How to Evaluate the Best Software for Real Estate Wholesaling and House Flipping

In this guide to choosing the best house flipping software, I aim to help you in your decision process by talking about the most important aspects necessary to scale your business, and then talk about the features of software that you might need in order to get there. There is actually significant overlap here between software for house flipping and real estate wholesaling, and for good reason: The hard work is on the front end, before you even offer on a property.   With this guidance, I want to truly help you make an educated purchase decision in the goal of making your business successful.   What is the best… Read More

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Distressed Seller Lead Pages

House Flipping & Wholesaling Software Product Update: Distressed Seller Lead Pages Deep Dive

The launch of Lead Pages in REI/kit, was an instrumental piece of the deal creation machinery to ensure your lead generation techniques keep up with the times and give you an always on channel for motivated seller leads. (If you’re just tuning in, you can read all about the launch of the NEW Distressed Seller Lead Pages & Seller Leads CRM) In this update I’ll cover some of the questions that I am most often asked when it comes to the Lead Pages feature. What are lead pages and how are they different from a regular web page? Why lead pages are a necessary component of your marketing strategy in… Read More

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Expert Due Diligence + Expert Marketing = SCALE: Lead Marketing Pages and Seller Leads CRM Launching!

The REI/kit Lead Marketing Pages and Seller Leads CRM are about to launch! You already know that I built REI/kit to allow you to become an expert at deal due diligence, with tools for running comps and calculating ARV the right way, estimating rehab costs, analyzing deals based on multiple criteria, and marketing those deals to your cash buyers list or lenders using the most trustworthy reports in the business. In the process, over thousands of people have used our tools as part of their real estate investing systems with over 50,000 deals evaluated to date. As you can imagine, this has given me the opportunity to talk with a… Read More

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Lien History Example

The House Flipping & Wholesaling Game Has Changed: Loan History Data Launched!

For immediate release: REIkit.com House Flipping, Wholesaling, & Real Estate Investment Software has released another premium data launch that will forever improve your ability to get more deals done faster and more profitably. This time, as promised, we launched loan history data, now available in all of our premium subscription plans nationwide.  This is the second part of our premium data upgrade for all of our paid subscription customers. You can read about the first part of our premium data upgrade where we launched premium property data to give you a complete picture of your target property here: House Flipping, Wholesaling, & Real Estate Investment Software Product Update: Premium Data… Read More

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Property Data Features Header

House Flipping, Wholesaling, & Real Estate Investment Software Product Update: Premium Data Release

If you are a premium customer of REI/kit House Flipping, Wholesaling, and Real Estate Investment Software, you may have noticed some changes that have appeared in the property details page after you created a new project. This is because we have launched the first premium public record data source integration for our paid subscription customers….keeping our promise to create the ultimate deal decision support tools out there, to make your deals more profitable.   Crucial New Property Data With this release you now have access to so much more data on a target property, up to 50 data points, something our competitors simply cannot afford to provide to you. Some… Read More

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Example of the New Comps and ARV Tool

Real Estate Investment Software Product Update

In this product update post I wanted to follow up on our most recent successful launch of support for premium data sources in the goal of our future MLS integrations coming out later this year. This post is an overview of what was changed and how those changes increase your chances of success in your business.   Latest Software Updates: Premium Data Records Support (Data Coming Soon) New Property Info Owner and Loan Data Tax Amount Data Comps and ARV Tool Updates New Proprietary Comps Selection Algorithm Comps Distance Added Comps Upload Update House Flipping and Wholesaling ROI Calculation Updates   Premium Data Record Support (Data Coming Soon) In preparation… Read More

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Rental Performance Proforma

18 Essential Metrics to a Complete Real Estate Investment Analysis

When it comes to analyzing the potential of an income producing property, most people focus on Cash on Cash return as the only measure of their real estate return on investment. However, to get a complete picture of the return of your real estate investments, there is an array of metrics that you should include as part of your rental property analysis. While initially overwhelming, in this post I’ll break down each metric, provide the formula to calculate it, and show you examples, using a real-life advertised deal. In addition, I’ll also go into how these figures and ratios relate to each other. The total picture you get from preparing… Read More

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7 House Flipping Mistakes to Avoid Header

7 House Flipping Mistakes To Avoid When First Starting Out

There are several mistakes that I consistently see new (and even experienced) real estate investors make when first venturing into house flipping.  These mistakes are understandable when the excitement to get started conflicts with the knowledge required to execute a house flipping project quickly, cheaply, and profitably. In this article I list the seven major house flipping mistakes that new real estate investors are likely to make when first starting, and how to avoid them in the first place.   Mistake #1: Buying Too High When a new investor wants to start flipping, they turn to the first place they know to find properties: the market.  These are properties listed… Read More

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REIkit and Redfin

How to Import MLS Comps from Redfin into REIkit.com Real Estate Investment Software

REIkit.com real estate investment software has powerful tools built in for performing thorough due diligence on real estate investment properties. This due diligence normally starts with the process of calculating after repair value (ARV) by first selecting appropriate comps, and then using the method that most appraisers use to value property: that of a sales comparison analysis. This post is only about the first part of the equation, and specifically on selecting the sources comps. Whereas the free version of the after repair value calculator suggests 5 comps from Zillow, and allows you to add additional properties to the analysis one by one, the premium version of the software, not… Read More

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Frustrated Real Estate Investor

Why Are Your Real Estate Investment Offers Always Getting Rejected?

Despite carefully following the most commonly used rules of thumb in real estate investment, new investors eager to get their first deal under contract, nearly always find their offers immediately rejected. They frequently experience the following scenario play out: I follow all of the rules of thumb, make sure I’m conservative with my numbers, and end up with an offer that’s way below listing price….and this is the 10th one that has been rejected. or My MAO says that using the 70% rule, I should offer X which is less than half the listing price, and my realtor won’t even submit the offer.   So what do these frustrated investors end… Read More

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BRRRR Real Estate Investment Strategy

Real Estate Investment Strategies: Example BRRRR Analysis

In this video and post we are going to analyze a property that was advertised on BiggerPockets as a potential BRRRR real estate investment strategy candidate.   In order to perform the analysis, we will be going over: An Overview: What is BRRRR? The Potential Deal What is the 2% Rule? Gathering the Due Diligence Data Verify the After Repair Value (ARV) Identify the Rehab Costs Enter the Purchase, Sale, and Holding Costs Purchase Costs Sale Costs Operational Expenses (OpEx) Modeling BRRRR Financing: Buy, Rehab, Refinance Hard Money Purchase Loan for Purchase & Rehab FHA Conventional Refinance Rental Property Income Capital Expenditures (Reserves) Itemizing CapEx How Does CapEx Affect Your… Read More

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How to calculate cash on cash and internal rate of return

Why Should Cash-on-Cash Analysis Only Be Used For the First Year of Rental Cash Flows?

The other day I was thinking about how we use Cash on Cash Return (CCR) to filter and compare potential rental property investments, and how that metric is only useful to understand the first year performance of a potential long-term buy-and-hold deal. This post explains the limitation of Cash on Cash Return (CCR) beyond the first year, and why you should use Internal Rate of Return (IRR) to analyze the long-term potential of your rental property investments instead.   Starting at the Beginning: What is ROI? ROI is the rate of return of your total investment.     Generally, ROI is used for short-term investments such as flips where you… Read More

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House Flip Construction Estimate

How Can I Get Contractors to Give Me a Rehab Estimate for a Potential Flip?

This question is often code for: I don’t know how to estimate rehab costs, so how can I get a contractor to help me perform my due diligence on a property by coming up with a Statement of Work (SOW) and estimating it so that I can put in an offer?   The Set Up You have decided to jump into flipping because that’s how you build up your war chest to start using the BiggerPockets BRRRR strategy. You have no construction estimation experience, but you have just found your first distressed property on the MLS, through a property wholesaler, or just driving for dollars, and are dying to get… Read More

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Rental, Multi-Family, and BRRRR Deal Analysis Released

After months of feedback from our customers, and the resulting product development, and improvements, I’m proud to announce the release of our latest features catering to buy and hold investors who buy and improve distressed properties for long-term cash flow.   Whereas the original focus of the software was purely to support fix-and-flip investors, the overwhelming feedback from our customers, and the current trends in investing are to purchase distressed properties and improve them as part of a long term buy and hold strategy.   To that end, the software not only continues to be the best in breed for in-depth analysis of the purchase, and fix and flip strategy… Read More

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Real-Estate Investment Financing Strategies

6 Strategies for Financing, Refinancing, and Exiting Real Estate Investments

While I’ve been improving the financing section of the REIkit House Flipping Software, I’ve had some time to think about the pros and cons of a few of the different investment strategies that can be used to finance your real-estate fix and flip or buy and hold projects, and eventually get your money back to reinvest in your flipping business, or rental property investments as in the case of the BRRRR strategy. Coincidentally, I’ve recently also had the chance to get into a few debates on the subject. There must be something in the air this week… The following is the list of the most common financing strategies that I’ve been thinking about recently: Strategy… Read More

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