All Forum Posts by: Harry Williams

Hey BP, I've seen the post various times but have not found anything up to the standard I am looking for: a simple, concise spreadsheet to track rehab costs. I am funding a flip and the GC will be managing the project. With that said, he passes along all weekly rehab receipts in exchange for reimbursement. I am interested in cataloging all of these in a quick and easy spreadsheet to track rehab costs. While I have created my own sheet, I don't doubt that there are other sheets out there that I could use to refine mine. Anyone up for sharing?

Thanks in advance!

@J Scott how are you getting your return numbers of 17% and 68%? I am getting 23.07% in 90 days or 92.3% annualized. 75,000/325,000 = .2307

@Robert Mitchell all receipts saved and cataloged? Were you close friends with this partner?

Robert, thanks for the reply. How were rehab costs handled by the investor? Did they reimburse you with checks or was there a joint credit/debit card? 

Got it, thanks. Best way to contact BPO? @Joel Owens

@Joel Owens I have not gotten a BPO. Should I go through the buying agent I am using or a 3rd party?

The GC never has my money. Per contract designed by my RE attorney, I only reimburse his money after spent and with proof of receipt as with all other development costs. Paying sub contractors, and ensuring their safety (GC is liable), are two of his many required duties per contract. 

Good call on sewer. 

@Joel Owens The renovation required is not significant. Signing Oct. 28 and expect to have on the market mid-late Feb. Yes, I am paying all cash for the house. And of course, the potential for a return is not guaranteed itself but, given there is profit, and enough for me to recoup 20% gain, it is guaranteed per contract. Even if that means the developer's profit is $0.

@Joseph M. Can you please continue conversations outside of this post elsewhere. Much appreciated. 

@Jacqueline Basset What exactly do you mean by this? Can you provide more detail as it applies to this post?

@Clancy Catelli Speaking of — interesting scenario. I have not seen my elderly neighbor in over four months and I am afraid they may have passed away. As far as I know, they do not have family in the area. I feel guilty asking but how could I find more information about this?