House Flipping Resources: House Flipping Spreadsheet Overview
Business tools are essential in establishing business growth and success.
In a fast-changing world, technology provides convenience and reliability to businesses. Hands-on work has never been the primary focus since the businesses' solid foundation nowadays is capped in a system that runs the business digitally from the basic to advanced software. Well, except for those businesses that don't require those resources. And not that business owners or investors depend on more systematic business practices and get rid of the traditional. The reality is that it's the business upgrade anyone is running after.
Imagine managing multiple properties all at the same time, rental or flip properties, getting into other side hustles, etc., Realistically, it's way more complicated to manage them all at once traditionally, without all the business tools and the like. Project delays, overspending, poor ROI, you'll obviously get things off-track and worst, end up losing the investment. And in a realistic sense, real estate is one of the fast-earning investments with proven passive income. However, not everyone ends up at the pinnacle of success. They often fail at management.
Therefore, as a real estate professional who's been in the industry for over 20 years, I've experienced the highs and lows of the journey. My experiences took me to places and introduced me to the reality that part of establishing business growth and success is exploring modern business practices. And that includes investing in various business tools and other resources.
When I ventured into the industry, I started looking into the most convenient project management tool perfect for my house flipping investment and even rentals. My research has led me to this spreadsheet that serves as my go-to system to keep track of the projects from purchase to managing timelines. It's the House Flipping Spreadsheet that saves me from missed deadlines, miscalculated costs of any sort.
The House Flipping Spreadsheet provides a strategic approach to streamline the house flipping process. It has everything you need from analyzing deals to generating reports. As a house flipper, real estate investor, and realtor, here are some information you may refer to, to give you an overview of what's inside the spreadsheet.
Deals analysis is where you can estimate repair cost and the maximum purchase price of the flip or rehab project you should offer the market after holding them for quite some time
To get a hold of each project, you have to have a concrete, smart, and realistic scope of work. This part of the spreadsheet is where you can create one. Additionally, you can add and manage tasks and schedules. You'll be in control of which task to add and when it should be scheduled. Adding the responsible person for each task will also make progress monitoring easier as you'll see who to address and follow up with. By doing so, you will keep track of what is on or off-track.
Managing costs is one way to save the projects. The accounting side of the spreadsheet is where you can create the project budget, monitor expenses, and be in control of profitability. You'll have a rundown of all the costs from purchase to sale.
Part of monitoring progress is generating reports. The spreadsheet has a pre-built, professional accounting report beneficial for your business. It will help you manage and generate profit and expenses reports, budget in general, etc.
The abovementioned are just the overview of what you can get from the spreadsheet. There are more features under each that are indeed valuable in project management. If you are into rentals or wholesaling, there's a spreadsheet patterned to the business needs. Don't forget to check them out!
In conclusion, managing a business can be overwhelming. Sometimes, you'll have to work extra hours and even stay up late on weekends. Thus, demanding most of your time. But if you have a system where you can track things any time, any where, it will be more convenient and strategic. Getting you the best tool/s will save you so much time working extra hours outside the comfort of your homes or offices. Don't miss the opportunity of securing your business, start as early as now!
For a more detailed discussion of the spreadsheet, stay tuned as I prepared a more in-depth review of what you can get from using the spreadsheet. Don't forget to follow our socials for more updates!