Rehab Contractor Budgeting Calculator

Rehab Contractor Budgeting Calculator

Jersey City, NJ · Member since 2014 · 31 posts · 2 votes

I have been searching for a what I would call a 'rehab budgeting calculator'. I was wondering if anyone here is using something like this or has made their own and would like to share. To explain, I am basically looking for a program or excel sheet formatted document that I can alter with my own estimated prices for projects with my main goal being to systematize my process. 

i.e. I would be able to add my own estimated costs into this program and/or formula once and save it, then when I would be analyzing a property I could just put number of bathrooms: 2, the program/sheet would then give me an approximate estimate for 2 bathrooms going off of the estimate numbers I have originally entered.

I basically want to setup this sheet in a way that I can enter all the estimated prices associated with a home once, save it, and then reuse it where I can go through it quickly enter a numerical value of how many bedrooms, bathrooms, kitchens, flooring etc. needs to be redone and at the end it will give me a full price for the project.

Please let me know if anyone is using anything like this or if I was not clear in my explanation. 


Thanks in advance and I look forward to hearing back.

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  • J ScottPro Member
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    Investor · Sarasota, FL · Member since 2008 · 17k+ posts · 17k+ votes
    11y

    I use several home-made spreadsheets for creating budgets, but I think you're a bit optimistic to think you'll be able to just enter number of beds/baths/etc. to get reasonable estimates.  Take two different 3/2 houses in different areas, different styles, different ages, different finishes, different contractors, different SOW, etc, and the rehab estimate could differ by several hundred percent.

    There are several spreadsheets in the BP Fileplace that might help, and BP has a book on creating SOWs and estimating rehab costs that comes with worksheets (full disclosure, I'm the author).

  • Jersey City, NJ · Member since 2014 · 31 posts · 2 votes
    11y

    @J Scott thanks for the information. I agree with you completely, this is something I would use for similar homes in the area and not all projects, I would also be estimating costs per county/town as well as the types of finishes I would want to use going off of ball park prices for the finishes, so I will need to make several sheets for that. I am not looking to use the same sheet on every property but looking over my original post I should have explained it better. 

    Thanks again for your feedback!

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