I am currently working on a spreadsheet for estimating renovation costs. I looked around on the net, but couldn’t find anything that really suited my needs.
I would be glad to send a copy to whoever wants it. I only ask that you give me your feedback on it. Corrections/additions, that sort of thing. And also, if you currently use a spreadsheet for this purpose, I’d like to see it to get some ideas for mine.
If you want a copy of mine or have one you could send me, let me know.
I was actually thinking of doing soemthing very similiar for cash flow. Where I can just plug the values in and it computes it all out for me. But don’t know excel that well. These simple applications could make our lives so much easier, if we had a “package” of spreadsheets such as Cash Flow Analysis, Renovations, Flipping Potential, etc…
Lets work on this as a community if its not already in action or created.
Lets do this like the open source community, someone starts it, posts it or offers it for download, people make changes, write what they changed in the log and reupload it.
Ok we need someoen to start with the calculations, whats the best way to get started…I know the logistics of what needs to happen but not sure of my excel skills.
I hope to have something by the end of the day or maybe tomorrow.
I was initially going to have a worksheet for each room in the house, but found that to be cumbersome and not very user friendly. So I am in the process of trying to streamline it.
I think it will serve a dual purpose. Not only will it calculate based on the figures you enter, but it would be good to print out and take with you when you visit a home to use as your inspection list. That way you are less likely to miss something.
I’ll be glad to post on the website if someone can explain how. Or I can email it to somebody that knows how to post it.
I wanted to check in to let everybody know I am still working on the “Rehab Analyzer” spreadsheet.
This is how it’s currently formatted:
There is going to be a worksheet for several different areas of the house. (A total of 4 or 5) Then there will be a “main” worksheet that totals up the other worksheets. Also on this main sheet will be places to calculate payments/compare comps/and possibly calculate potential profit.
This will also be good for us beginners to print off and take to houses to use as a checklist for looking things over.
I’m sure I will have left some things off, but with feedback and ideas from others, we can get it how we want it.
haha i apologize for not making progress, i realized I’m not the best at planning out spreadsheets. If someone wants to work on one for cash flow analysis I would more then willing to give feedback and suggestions.
Bravo! I have projects at my own home as well as investment properties that I’d love to get past the stubby pencil stage with, not to mention the mental effort to look at new properties and evaluate what’s needed.
Please send me any and everything as an attachment or tell me where to download and I too will gladly give feedback!!!
<<In the meantime, www.LendingTree.com has a handy mortgage calculator online that is easy to use and has handy printouts.>>
I’m not a huge fan of Russ Whitney but he has a GREAT calculator on his website…it allows you to manipulate making additional payments and shows you graphically the effect on early payoff.
