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sunshine_vekas

House flipping

9 years ago

Looking for workbooks on house flipping estimates, timelines, record-keeping, etc

Comments (16)

  • PRO
    9 years ago

    Good luck there really is no such thing each house is different how much it cost how much you want to put in

  • 9 years ago

    Tough way to make a buck. Best of luck with it. Are you already a handy man or otherwise familiar with construction?

  • 9 years ago

    If you search on line there are excel spreadsheets used by construction companies for example and you could modify to your needs. Not sure of how practical this site is, as I didn't spend a lot of time going through it. https://www.smartsheet.com/excel-construction-project-management-templates

    Sunshine Vekas thanked Maureen
  • 9 years ago

    I wouldn't do it unless you know something about the trades.

  • 9 years ago

    Turn off the TV now. Swear that you will NOT watch HGTV for the next two years. Find a Community College or some such that offers basic woodworking classes. Take the class. Spend your days off and vacation "helping" friends and family that are tradesmen (electrician, carpenter, plumber, drywall finisher, painter). Save up your money for tools...about $5,000 to start with...and an 8 foot bed pickup truck. Oh yeah, and another $100,000 in "seed money". It isn't anything like HGTV.

  • PRO
    9 years ago

    Use a product like Microsoft Office to record everything you do. As you go along, you will find that you need to add categories, subtotals and additional pages to the workbook. Office also has project management software.

    You only need to know the basics of using a spreadsheet to maintain adequate records. It is diligence and discipline that are important, not formats or fonts. I've never found prepackaged forms and workbooks to have the needed spaces in the right places. Use a combination of spreadsheet and word processing to print out blanks of forms appropriate for your project and keep them at the jobsite so everything gets written down at the time it occurs

  • PRO
    9 years ago

    @ Linda - " It is diligence and discipline that are important, not formats or fonts".

    Ain't that the truth!? Remember the Gi-Go principle: Garbage In - Garbage Out. Good luck. A basic spread sheet set up for your personal needs will work just fine. Of course you will need to know what those needs are.

    Pen, paper and some form of basic "book keeping" will help you figure out what you want in your spread sheet. You can then use Microsoft Office to create one yourself.

    If creating your own spread sheet seems daunting, you could probably hire a college kid in the math department to create one for you. Should cost about the same amount as a professional grade Office suite.

  • 9 years ago

    Office has everything you need. Excel will tell you exactly how much money you are losing on the job.

  • 9 years ago

    Why is the sky always falling^^, good grief!

  • 9 years ago

    Because anyone that has to ask something so basic, lacks the knowledge base to even begin doing such a project.

  • 9 years ago

    The questions asking if the OP has any trades skills go to whether they will clear a profit. So yes, relevant. No point in taking on flipping if all your profits go in wages.

  • 9 years ago
    last modified: 9 years ago

    ^Pretty much^ what Sophie said.

  • 9 years ago

    Everyone has to start and learn somewhere.

  • PRO
    9 years ago

    Like attorneys and engineers, house flippers instantly go on double secret probation with me. Fortunately, like attorneys and engineers, they are quick to brag about what they are.

  • 9 years ago

    Yeah, they start with a 13 million dollar loan. Lose nearly a billion dollars. And proceed through 6 bankruptcies!