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 of this new data includes:
A huge win to help you determine your exit strategies with a target property. Is it a single family zoned as a multi? Maybe you can now add an Accessory Dwelling Unit to the property and double your profit instead of trying to squeeze out 10% from a thin deal.
Property Tax Amount
This is something that Zillow has stopped sharing some time ago and so you won’t find it in our competitors’ software.
Tax Assessed Value
Although you cannot use this data to value a property, you can use this information to determine how the reassessment of your property during transfer might affect your property tax bill.
Neighborhood or Subdivision
In high cost areas such as Los Angeles, the difference between adjoining neighborhoods can mean a difference in value in the hundreds of thousands of dollars, so you better bet your bottom dollar that I use this as another signal in my decision support matrix.
Also Available: Building Features
Building Quality and Condition Scores
Since we have the ONLY real estate investment software out there that uses standard appraisal techniques to help you determine property value, we’re happy to give you more data to help you value the property like an appraiser.
Appraisers use a grade scale to describe the condition and quality of your property when they value it. Similarly, we now provide you with normalized scores to help you determine those metrics.
Architectural Style & Construction Material, Roof, Walls, Total Buildings
If you’re buying the last farm house in a development of new construction, this might be an indicator of the depressed value of the property at the end of its functional life.
Parking Type, Basement, Pool, & View, Heating & Cooling Indicators
These are some of the most important value indicators when performing an analysis of the value of a property.
And While We’re At It: Comps and ARV Software Improvements
This release also includes another important improvement to the software:
ARV > Adjustment Tab Improvement
Since we now have pool, view, and basement indicators, and those are some of the most important adjustments that you can make to your property, they have been added as part of the standard adjustment features, so you no longer have to add them yourself when performing your sales comparison analysis in the adjustments tab.
One caveat… we can’t show you data that doesn’t exist.
Although we have integrated with by far the most comprehensive premium data source available, the available data points are very localized, and not all data points will be available in all localities.
This depends on the extent of information available and shared by that locality’s public record authorities. So, if we don’t have it, there’s a pretty good chance that you won’t find it on any other site either.
This was just a small step in our mission to be the best at what we do: giving you the tools and data that you need to make expert investment decisions make your real estate wholesale, flip, or rental deals more profitable….while our competitors are busy building toys you don’t need because their bargain basement business model prevents them from giving you anything of actual value (the data).
First, what we’re not doing…
We have had several requests to build project management and cost tracking features because other FREE or ALL-IN-ONE flipping software are heavily marketing these features.
I get it, we all want systems that are integrated, one place to go to for everything, but currently we have no plans to build project management and cost tracking for one simple reason: there are already best of breed tools that you should be using for the job.
So while other house flipping software have built in simple project management and cost tracking tools to sell to new investors, as a certified Project Management Professional for the last fifteen years, they are just not adequate for me to use as part of my professional real estate investment system.
So we’re not building them, because ultimately I just don’t want to sell you software I would not personally use.
What do I recommend instead?
If you want the best systems, it’ll be a lot easier on you if you select the best tools for the job, and integrate those into your systems and processes.
I have no affiliate relationship with any of these companies, I just use them everyday in my business, and wholeheartedly recommend them.
What are we working on then?
Without data, you just have an empty shell of software, so for us that’s the focus: data, data, data!
Next up is lien history data since the last property transfer, giving you access to some of the most amazing data yet: the amount of the loan, owner names, and best of all, the owner’s estimated equity.
This will be even more data to help you determine the motivation level of the property owner determining your strategy when approaching them.
You can read about that release here:
Founder @ REI/kit