Trying to create an excel spreadsheet for HOME DEPOT products

Rehabbing & House Flipping
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Trying to create an excel spreadsheet for HOME DEPOT products

Nate Narcisse
New to Real Estate · Salisbury Mills, NY · Member since 2021 · 13 posts · 10 votes

Hi BP family,

I'm trying to build a template excel spreadsheet, which would include products and pricing for materials from Home Depot. Also on this spreadsheet would be different labor rates from local contractors and the square footages of each material needed  (depending on the level of Rehab). I know every rehab/remodel is different. So I figure, the best way to go about it is to rehab for the worse case scenario, which would be a full gut remodel for every part of the house. That way, I could get an idea of the cost for the most work that could be done on a house, if that level of work was required. If the house doesn't need that much work, based on the comps, then I could simply deduct from the large rehab figure/estimate and call it a mid-size rehab or a light rehab. It would be nice to have all this information in one place, hence the spreadsheet. Not to mention, it would be a nice way to estimate accurate rehab cost and creating a budget ( once I get a measurement of each room). There's a few problems I'm currently facing: 

1) How do I go about getting that information and structuring the spreadsheet? (Home depot doesn't really have a price book for all the material they sell)

2) Would I have to manually redo/update the pricing, every time the prices change? (If this is the case, then I may hire a VA to do the work)

3) Am I better off going to a different material supplier for each individual product instead of Home Depot?

Any ideas?
 

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David Avery
Flipper/Rehabber · Phoenix Arizona · Member since 2020 · 1k+ posts · 686 votes
4y

I would have Home Depot give you a $10,000 grant to promote their business products with you . Starters!

Home Depot also has their hands on contractors and product.  As does Lowe's.

@ when someone comes up to the counter and says, I need  my house insulated.  They are directed over to the service desk/pro desk and its in house product and vendors ( contractors).

But with the demand of contractors and the supply  product being so crazy the past year.  

I think it would be a up hill battle to do what your doing. 

If you want to accomplish your goal I would do the following.

1- talk to experts that Re Hab. Treat them to a steak dinner or more and pick their brains with 50-100 questions.

2- Its all about the bathrooms, kitchen, and overall condition of a house.  Square footage is not a very good rule.

3- In this political arena that we are in  sheet rock will go up to $30 a sheet within 90 days.  2x4 will triple.

Good luck

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  • David Avery
    Flipper/Rehabber · Phoenix Arizona · Member since 2020 · 1k+ posts · 686 votes
    4y

    I would have Home Depot give you a $10,000 grant to promote their business products with you . Starters!

    Home Depot also has their hands on contractors and product.  As does Lowe's.

    @ when someone comes up to the counter and says, I need  my house insulated.  They are directed over to the service desk/pro desk and its in house product and vendors ( contractors).

    But with the demand of contractors and the supply  product being so crazy the past year.  

    I think it would be a up hill battle to do what your doing. 

    If you want to accomplish your goal I would do the following.

    1- talk to experts that Re Hab. Treat them to a steak dinner or more and pick their brains with 50-100 questions.

    2- Its all about the bathrooms, kitchen, and overall condition of a house.  Square footage is not a very good rule.

    3- In this political arena that we are in  sheet rock will go up to $30 a sheet within 90 days.  2x4 will triple.

    Good luck

    2Reply
  • Account Closed
    Handyman · MN · Member since 2020 · 92 posts · 46 votes
    4y

    The Home Depot app should show prices. I've got a basic spreadsheet of each household item but I stick with averages and adjust for quality and size. 

    Part of my contractor numbers come from operating a maintenance budget for a large multifamily investor, and being able to refer to that, plus having a good working relationship with the vendors to keep my cost similar to that of my employer. I approach estimates from a position of hiring out everything, and my profit is in the difference of how many of those projects I can do myself. Still new to flipping yet, and lack that luxury of time being worth more to hire out. 

    I feel that the real value in the spreadsheet isn't the numbers that are on it, it's the ability to memorize the numbers and Rainman the entire project out (and your comps) from the second you enter the room giving you the advantage to be working on your offer and counteroffer while others are at home still moving numbers around. 

    I like the question, and am very interested to see what others put up!

    1Reply
  • Nate Narcisse
    OP
    New to Real Estate · Salisbury Mills, NY · Member since 2021 · 13 posts · 10 votes
    4y

    Thank you @David Avery for the sound advice. 

    I strongly agree! What I'm trying to do is quite ambitious and may not be worth my time. I'll definitely have to network with the flippers at my next REIA meeting and get some insight. I guess the bright side of increasing prices of raw material is keeping real estate investors, especially flippers, on their toes while being creative with how business is done.

    1Reply
  • Nate Narcisse
    OP
    New to Real Estate · Salisbury Mills, NY · Member since 2021 · 13 posts · 10 votes
    4y

    Thanks @Account Closed.

    I'll definitely look into the Home Depot App. I also agree. A simplified spreadsheet with averages sounds like the way to go. Otherwise, I'll probably get paralysis analysis. Nevertheless, that's a good point: memorizing the numbers from the spreadsheet and being able to predict the repair cost just by entering the room/house. We'll see how things go.

    0Reply
  • David M.
    Morris County, NJ · Member since 2020 · 5k+ posts · 2k+ votes
    4y

    @Nate Narcisse

    You might start off doing this until you get a better "feel" for the market.  This is part of Eisenhower's, 'the plan isn't as important, as planning..' (or however his exact quote goes).

    I can't keep all the numbers in my head.  So, you could start with Home Depot.  But, for example, when I gutted a property I found that getting a bulk sheetrock delivery from a supplier was cheaper per board and they had the mechanical arm to bring the rock to the 2nd floor.  That saved me a ton of labour costs to have my guys fill the house.

    Yes, it would be nice to create a budget, then match it up to actuals to see where you were off.  I do the same thing.Its some what data / manually intensive, but I feel that's the work I need to do get really get a feel for the numbers. 

    I hope this helps.  If you want to chat, i'd be happy to.  Take care.

    0Reply
  • Tristan Gardner
    Rental Property Investor · Mansfield, OH · Member since 2021 · 129 posts · 89 votes
    4y

    @Nate Narcisse In theory, this would be so helpful. The issue I think you'll run into is the constant price changes. Keeping that up to date would be at minimum a full-time job. 

    What may be more helpful is to determine the average costs of materials for each room. For example, I can redo a bathroom with tile floors, toilet, vanity, paint, and basic tub with a surround for $1750. Basic kitchens run $5000ish. Easy rooms like bedroom and living spaces I estimate $1000.

    I typically double the cost when accounting for a GC or multiply by .5 for a handyman.

    1Reply
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