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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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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The Math Behind the Real Estate ARV Calculator Explained

The one thing that is constant is that I am consistently improving the software in response to customer feedback, as well as a result of my own daily use of the tools. As a result of feedback from one of customers who is a HomeVestors franchisee and performs a high volume of ARV assessments, there are several new calculations that have been added to the ARV calculator. These calculations should help you reason much more effectively about the potential value of your real estate even more in line with appraisal best practices, especially when performing a sales comparison analysis and adjusting your comps in the tool. There are now 4… Read More

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