Best Guides and Spreadsheet or App to Manage my Rehab on 1st Flip

[Nina W.]

I'm rehabbing a beautiful, mid-century modern, single family home upstate, and I want to stay clear and on top of project management, as well as managing the financials, supplies ordering (for the supplies and fixtures I am handling vs the contractor). I'm receiving three contractor bids this weekend. I already know it needs a new roof, mold remediation, and foundation repair. I've managed a handful of commercial renovations for my former retail business in Manhattan, but it's been a while and I want to make sure I'm keeping my numbers down to maximize profit on the flip. I'm open to receiving any helpful input on all of the above. Oh and ps - I would love to hold the property if I could, but the rental comps won't cover my refi expenses, but it could set some ppsf records as a sale. This is my first post on BP thanks! 

[Marty Boardman]

This is exciting Nina. Congratulations!

I've never been a big software or app user when it comes to my fix and flip projects. I've created and adjusted my own spreadsheets over the years to track my budget, timelines and supplies. And I use QuickBooks for the bookkeeping.

As for contractors, I don't hire GCs. I project manage myself (or hire a project manager to do it for me) and sub out all the work. I buy all the materials for the project and pay the subcontractors directly. This is because I want to be in full control of the project from beginning to end.

My wife is from upstate NY (Wappingers Falls) and I know the permit process can be difficult, so keep that in mind with your deadlines. Hiring a GC may be necessary to pull certain permits.

The most difficult part of this process for you will likely be finding reliable contractors that can do the work on your timeline/budget (and making sure they show up). But if you've managed commercial renovations then you know the key is keeping everyone involved accountable with relentless follow up/supervision.

Good luck! Would love to see the before/after transformation.