All Forum Posts by: Andy Bankston

Hi everybody. I'd like to get some feedback on this spreadsheet. I've been wanting a way to walk through a property and "check off" all the items I'd need for the rehab. So, I combined a couple of J Scott's awesome spreadsheets and made it into this tool. Here are the instructions and details, which are also located on the FilePlace download screen:

This workbook is a combination of J Scott's Rehab Analysis Worksheet and his Home Depot SKUs worksheet.
I combined the worksheets and created an all-inclusive workbook so that you can walk through a property, and easily "check off" items you will need to rehab the property.
Instructions:
1.There is a tab at the bottom for each room in a property and items commonly found in each room are loaded into the sheet. For ease of use, I loaded a macro into the "Quantity" column of each sheet so that simply double clicking in the desired cell will add "1" to the quantity value. You can also still enter the number manually.
2. These items from each room tab are automatically totalled on the SKU sheet (Sheet 2)
3. The Rehab analysis sheet at the front brings in materials costs from the SKUs sheet (but not labor).
4. For items that are purchased in bulk (Smoke detectors, switches etc.), you will see a total number of the item needed listed to the right on the SKU sheet. You'll need to convert the number of items needed to number of packages needed. For example, if you need 30 switchplates, enter 3 for the quantity on the SKU sheet since these come in packages of 10.
5. I locked the Quantity column on the SKU sheet so that the formulas that bring in the totals are not accidentally lost. However, the bulk quantity cells are unlocked since you need to enter those from the SKU sheet after you have a total of the item needed. There is no password so you can unlock the sheet if needed.
6. I also locked each sheet (except the Quantity column) to prevent accidental loss of info. There is no password so you can unlock the sheets if needed to edit. Example: you'll need to unlock sheet 1 to enter your local sales tax %.

Feel free to add any suggestions or comments! Thanks to J Scott for the original Rehab Analysis and Home Depot worksheets.

http://www.biggerpockets.com/files/244/download

Thanks, J for all the info and advice. Thanks, Josh for your tireless efforts that went into the Summit.

This is not at all me trying to bring attention to myself in a "look at me!" way, but rather "I'm doing it, and so can you!" as I hope to help others in any way that I can. The BP Summit really lit a fire under me to get this business off the ground and make it successful. I'd like to thank all of you for your support and help along my journey. I can honestly say I wouldn't be doing this without you!

I sold my first flip back in July and have been actively looking for deals since. Inventory is still low around my area (and therefore competition is higher) so it has taken a while. I finally got another house under contract and have leads on a couple more, so hopefully my patience will pay off! Thanks to all of you who followed my progress on my first house. Details of both houses are on my blog which is at my website listed in my sig. Feel free to follow along on this project as well!

Thanks guys/gals!

I closed on the sale this morning. You can see the details and financial recap by clicking the link to my website in my sig below. My profit took a hit due to the long period of time I held the property, but it's now under my belt and I'm ready to find another one! Thanks again for all the feedback and support!

Congrats to all of you! J, your reputation and results speak for themselves, and along with Marty, I have no doubt that you guys will make the deal a winner. Thanks for sharing the details. I'll be sure to follow your updates!

Just for clarification, Tyler stated in his original post that the property is located in Orange County, CA. I think the MO in his other post was an abbreviation for Modus Operandi, not Missouri.

Welcome, Justin! I'm up in Kennesaw and there are a number of other Atlanta area investors here on the board. There is so much valuable (but free!) information here. Just soak it all in and hit the ground running when you're ready.

Thanks, Bill. I should have made my intentions more clear. I am looking at getting my license to use it almost exclusively in my RE investing career, not to represent buyers and sellers as a traditional agent.
I know for a fact I would get more out of a classroom experience, but it just is not possible for me to go to the classes. I guess I was really hoping some people would chime in who have taken an online course and share their experiences, and which courses they took.
Thanks again

I'm looking for feedback and pros/cons of taking RE License classes online vs. in a classroom. I think I might personally like the classroom route better so I can interact with the others, discuss and ask questions. However, with my work schedule and personal schedule I just don't think I'd have the time for classes, so I'm probably going to take online courses. Anybody else taken the courses online willing to give an opinion?
Thanks