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Getting Started

Table of contents

The House Flipping & Rehab Spreadsheet is an all-in-one solution to analyze house flipping deals, estimate rehab costs, track expenses, manage deadlines and much more. This powerful spreadsheet is  easy to use and only requires limited input to help you perform an in-depth analysis.

User input should only be entered in the blue and red cells displayed as:

IMPORTANT: All other cells are fields automatically populated / calculated by the spreadsheet to perform the analysis. These cells are locked and cannot be modified by the user. Note that in order to maintain the integrity of the spreadsheet and keep it error-free, all tabs are locked by default but this does not prevent users from entering their own assumptions & data in the blue and red cells to perform their own analysis.

The spreadsheet currently includes 19 tabs (or sheets) although most of your assumptions will only be entered in a couple of them. Key tabs include:

  • Dashboard: where most of the rehab parameters and assumptions are entered in order to run your house flipping analysis. The tab then sources all the other sheets in the workbook as necessary.
  • Repairs: To build your own cost database by listing all the expected rehab costs associated with your project. This tab will drive your analysis if your Repair Estimate Method (from the dashboard) is set on “Detailed Estimate”. Other estimate methods are available and don’t require the use of the Repairs Tab.
  • Area: Enables you to review repair estimates (from the Repairs Tab) and to fill out a custom inspection checklist per area (as defined in the Repairs Tab)
  • Schedule: Independent module that will help you organize your scope of work and keep track of key milestones and deadlines
  • Tracker: To compare your actuals (i.e. expenses incurred to date) with your budget in order to identify potential cost overruns
  • Expenses: To list all your expenses incurred to date on your project.
  • Vendors: To list and keep track of all the vendors and third parties involved in your project.
  • Scenarios: This tool will help you run scenarios to assess how profitability metrics are impacted by changes in certain assumptions (such as purchase price, ARV, repair estimate, etc.).
  • Max Price: This tool will help you estimate the maximum purchase price you can offer in order to reach your desired profitability based on various financial indicators (cash on cash return, total profit, internal rate of return, etc.).
  • Custom: The Custom sheet is a fully customizable blank sheet that you can use to build upon our template and tailor it to your specific needs.

The spreadsheet also includes multiple reports (yellow tabs) that are easy to print and share with third parties (investors, lenders, etc.). For more information about available reports, please refer to our Reports page.

Filling out the Spreadsheet

Filling out the spreadsheet is quick and easy as most required information is entered in the dashboard:

  1. Fill out General Assumptions: Enter the property purchase date (mm/dd/yy format). This date can be any date (past, present or future). Fields under “Property Information” and “Property Details” are not mandatory but they are useful to identify and describe your project adequately and are used in some of the reports.
  2. Fill out Acquisition Assumptions: Indicate your purchase price and estimated After-Repair Value. If you are trying to estimate the purchase price, you still need to enter an indicative price here for the spreadsheet to run initially. You can then use the Max Purchase Price tool to help you better estimate the proper purchase price. Then enter your acquisition, holding and selling cost assumptions. More information about each cost category is available in the Dashboard page.
  3. Choose your repair estimate method by selecting either 1) Detailed Estimate, 2) Quick Estimate, 3) % ARV or 4) Lump Sum. If you select “Detailed Estimate” as your estimate method, you need to fill out the Repair Tab and list all expected repair costs associated with your project.
  4. Indicate how you plan to finance the rehab project by selecting how each cost is being financed (or by entering a custom amount in the “Other Amount” cell under each of the financing option). For each source of financing, fill out the required fields (such as interest rate, down payment, etc.). These fields will automatically appear when the associated financing option is active.
  5. Check the result of the analysis in the “Summary Figures” and “Project Profit” tables displayed at the bottom of the dashboard.

Thatt’s it! You now have an up and running spreadsheet to analyze your rehab projects. The process described above reflects the core use of the spreadsheet in order to analyze flips and rehabs. Additional features (optional) are also available to help you manage your project (Schedule, Tracker, Expense, Vendors, etc.).

It is recommended to keep track of your expenses by entering them in the Expenses tab of the spreadsheet. By doing so, you can compare them with your initial budget using the Tracker Tab.

The spreadsheet also includes multiple reports that elegantly summarize key assumptions, parameters and results of your rehab analysis. They do not require any input from users.

Updated on September 3, 2021

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