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Nine automatically generated reports are available in our House Flipping Spreadsheet. Each report covers a different aspect of your rehab project and has been optimized so it can easily be shared with your partners, lenders and other third parties.
The Summary Report is the main report of the House Flipping spreadsheet. As its name implies, this report summarizes all key aspects of your project, which makes it very convenient to share with investors, lenders and other third parties.
The top part of the report includes summary information regarding the contemplated property, including its address, MSL number, surface, number of bedrooms and bathrooms, year built and renovated. A blank area is also available for you to add a photo. To do so, simply click on the “Insert Photo” button available at the bottom of the left menu. You can also easily remove any existing photo by clicking on the “Remove Photo” button.
The report also includes key financial and return metrics as well as information regarding the financing of your project
More detailed information regarding the project costs and its financing is also available:
The report also includes the result of the Maximum Purchase Price analysis available in the dashboard, which helps you estimate how much you can offer in order to achieve certain profitability targets (profit, ROI, IRR, etc.).
The second part of the report includes the results of the scenario analysis performed in the Scenarios Tab.
The Financing report summarizes the key information relating to the financing of your project.
The financing breakdown show the allocation between different sources of funds (cash, loans and partner equity) while the capital requirement section presents a more detailed list of sources and uses.
The loan summary recaps key terms and conditions of your loan(s) and helps you easily understand the flow of funds from the After-Repair Value to the project profit.
Finally, the equity summary recaps how your project’s profit is split between you and the other investors and highlights key return metrics for each participant (monthly profit, ROI, annualized ROI, IRR). Note that assumptions regarding profit sharing are sourced from the Dashboard tab.
The Estimate report summarizes your rehab budget with a breakdown by rehab category (which can be customized in the Repairs tab) as well as by area (also customizable in the Repairs tab) and by cost type (labor, material, other, contractor, contingency).
A detailed breakdown of your rehab budget is also available in the second part of the report. This breakdown is directly sourced from the Repairs tab and shows the full list of budgeted costs associated with your rehab.
Note that the whole table is sourced from the Repairs tab so any comments you wish to include must also be added in the Repairs tab.
The Area report (AREA-R) provides an overview of the estimated repair costs by repair category and by area. Note that this report is only available when “Detailed Estimate” is selected as your Repair Estimate Method in the dashboard.
For each repair category, the report will differentiate labor costs, cost of material and other costs.
The total repair cost for each area is available at the bottom of the report:
The Costs Tab is a summary of all costs associated with your project. They are displayed by category, including: Property’s Purchase Price, Acquisition Costs (broker fee, title search, appraisal fee, inspection cost, etc.), Financing Costs (interests paid, lender points and other financing costs), Holding Costs (property taxes, utilities, insurance, etc.), Repair Costs (based on your detailed estimate from the Repairs tab or a quick estimate from the Dashboard) and Selling Costs (brokerage fee, commission, titles, appraisal, warranty, etc.).
A summary cost breakdown is also available at the top of the report to show the estimated profit:
The cost waterfall allows you to quickly identify how your After-Repair Value is allocated between all your costs and what the resulting profit is expected to be.
The Budget report lets you easily compare your expenses to date with your initial budget to quickly identify cost overruns and their potential impact on your profit. Data is sourced from the Tracker tab which lists all expenses incurred to date by category.
The top part of the Budget report includes a summary of key financial data, including:
The second part of the report summarizes expenses by category and lets you easily compare budget vs actual vs projected.
The “Actuals” report presents a summary of your expenses incurred to date on your project. These expenses are organized by category (Acquisition, Holding, Financing, Rehab, Exceptional and Selling) and sub-categories. The sub-categories of the Rehab category are based on denominations provided in the “Repairs” tab.
The report also includes a summary of the top 10 expenses by item, sub-category and vendor:
The “Actuals Vendors” report provides an exhaustive list of the expenses incurred to date on your project (also called “Actuals”). The report is organized by vendor (based on the list of vendors input in the Vendors tab) and provides expense details including: date of the expense, category, sub-category, description, quantity, unit cost and total.
A grand total of all your expenses to date is also displayed at the top of the table in the blue cell:
You can easily filter your expenses using the slicers available on the right side of the tab. You can select one or multiple vendors and categories.
To reset your filter, you can either click on the small red x on the top right side of the slicer or press Alt + C on your keyboard:
The “Actuals Category” report provides an exhaustive list of the expenses occurred to date on your project (also called “Actuals”). The report is organized by category (Acquisition, Financing, Holding, Rehab, Selling and Exceptional) and provides expense details including: date of the expense, sub-category, vendor, description, quantity, unit cost and total.
You can easily filter your expenses using the slicers available on the right side of the tab. You can select one or multiple categories and sub-categories.
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