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Spreadsheet for Tracking Rehab Expenses
Hi BP!
Does anyone have a good spreadsheet template for tracking all expenses associated with rehabbing?
Best,
Here is the sheet I use to manage all my rehabs.
Originally posted by @Chris C.:
Here is the sheet I use to manage all my rehabs.
Looks like a couple of those sheets were pulled from stuff I posted a couple years ago. For reference, the BP Flipping/Estimating books come with better spreadsheets that are closer to what I use...
That is correct @J Scott as my entire business model is based off your books. I did not think of that before sharing. Please message me if I need to remove this for copyright or other reasons.
@Erin Silva I usually do recommend J Scotts book in these situations but was quickly responding. You will do yourself a huge favor by getting his books and utilizing his information.
Originally posted by :
Please message me if I need to remove this for copyright or other reasons.
Absolutely not! I love the fact that the stuff I've put together is helping other investors. Just pointing it out for others that might be interested... :-)
@Erin Silva I created a spreadsheet based product that may offer you another option (also a tablet version). Similar to what's included in this post but comes preloaded with costs and requires only minimal measuring. I found it really time consuming to measure for every single repair in a house so automated calcs as much as I could based on room sizes. PM me if you're interested and I'll send you links.
Still gotta get J Scott's books seeing a lot of positive feedback here on those so I'm sure I'll learn a lot from them.
Homewyse.com is a good source to get costs for individual repair items based on zip code if you need them for your spreadsheet. Pretty accurate but seem to me to skew a little toward the high side.
@Kuba F. Yea I have a tremendous amount of time in it. It auto populates the SOW's and pretty much builds the budget. Only thing I need now is try and decrease the amount of time it takes me to walk through a property and populate the data. Generally spend about 2 hours getting all the data in to the sheet. Kind of clunky trying to enter the data directly into the sheet so trying to figure out a better interface.
#3 Contractors Contributor
- Contractor
- Los Angeles, CA
Chris C. Pretty nice SS. I did a similar for SoCal, never got the time to finish it. Good to get some.
I know in the past you commented favorably on 'House Flipping Spreadsheet (.com)' which has a whole host of uses such as analyzing deals, managing projects, and tracking expenses. There's even a business plan section available. It doesn't seem to follow your format as closely as I was hoping (I know it was developed with a fair amount of input from Bigger Pocketers), but it looks quite helpful in many ways. Would it be something that you'd recommend? It creates shopping lists and little bonuses like that so it has a few more things than the spreadsheet that comes with your Flipping/Estimating books. Have you looked at it lately? Do you think it would work in with your methodology and breakdown?
@Manolo D. What do you think?
Has anyone used it?
I believe the one good thing about that spreadsheet is that it can be adjusted by the State you live in. because costs are different in every State the estimate sheet i believe is based on a multiplier for the corresponding State, as most cost estimating books are based. that program does break down a lot of information for you and i think it is a good program, one thing you may want to check is if the program updates every year with current multipliers for the States ( program is probably based on a starting average value for each thing and then the multiplier changes as prices for materials change) and you want to make sure it does that.
Originally posted by @Valerie Hiscoe:
I know in the past you commented favorably on 'House Flipping Spreadsheet (.com)' which has a whole host of uses such as analyzing deals, managing projects, and tracking expenses. There's even a business plan section available. It doesn't seem to follow your format as closely as I was hoping (I know it was developed with a fair amount of input from Bigger Pocketers), but it looks quite helpful in many ways. Would it be something that you'd recommend? It creates shopping lists and little bonuses like that so it has a few more things than the spreadsheet that comes with your Flipping/Estimating books. Have you looked at it lately? Do you think it would work in with your methodology and breakdown?
@Manolo D. What do you think?
Has anyone used it?
Yes, I still highly recommend it. I was planning to bills my own software based on my books, when I first saw houseflippingspreadsheet I decided that it was close enough to what I was going to build that there was no reason to replicate it.
It's not exactly what I would have built (like you said the methodology and format is a little different) but it's definitely just as good, if not better than I would have come up with.
#3 Contractors Contributor
- Contractor
- Los Angeles, CA
@Valerie Hiscoe I believe they sent me a sample or beta version to get a little input, or I forgot if I asked for it, but something within those lines. Those were the first couple of versions, there was only a few tabs when i got the copy --if i remember correctly, only two or three--, I believe it is more complex now, constantly adding more stuff around, for sure there was no business plan then for example. It might be useful to other states, but since I'm a contractor, AND I am in CA, the rehab part is off. I believe the buy/sell part is an easier estimate (i just figure in 10% for a 6 month project). So as far as I am concerned, I can only speak to the rehab part, it is a little off or light, also it may be that I come from commercial/government construction sector, so that might affect my opinion.
Originally posted by @Nick Gaines:
@J Scott - Does your book come with digital spreadsheets? Are they available somewhere else for download?
If you purchase the book package (either digital or physical) from BP, it comes with a bunch of digital files, including SOW templates, contract template, chart of accounts, etc.
Hello, J Scott is there is fee to use these spreadsheets?
Also, what is your opinion of houseflipplingspreadsheet.com?
Thank you,
Dave
Awesome. Thank you community! Just what I've been searching for.
@Everyone, From your experience, what is the average ratio between labor expense and material expense for a successful flip project? What factors effect the ratio?
Thank you very much in advance for providing any insight on this.
Bob
Originally posted by @Chenping Ni:
@J Scott I have bought both of your books on flipping and Estimating Rehab Costs. For the estimating rehab costs book, there is a table in section 4 from p.201-p.216. Is there any digital version of that table downloadable?
Thank you very much,
Bob
I sent you a PM...
Originally posted by @David Alexander:
Hello, J Scott is there is fee to use these spreadsheets?
Also, what is your opinion of houseflipplingspreadsheet.com?
Thank you,
Dave
Sorry for the delay...just saw this...
The spreadsheets come as part of the Flipping/Estimating book package if you purchase on BP. There is no fee to use the spreadsheets.
As for HouseFlippingSpreadsheet.com, I'm a big fan of the product. I was going to build something similar, but Dave Robertson beat me to it, and there was no reason to build another product that would have been so similar.
Just so there is no confusion, J Scott has no affiliation with the spreadsheet I built. My spreadsheet is custom built for my needs loosely based on J Scott's books and philosophy. I share it for free to those who request it for ideas if you want to build something similar. Unless you have strong coding and spreadsheet skills (and lot's of time) I recommend following J Scott's advice.