Help & Support

Available Reports

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.

Summary Report

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

Key Financial Metrics

More detailed information regarding the project costs and its financing is also available:

Acquisition Information

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.).

Max Offering Price

The second part of the report includes the results of the scenario analysis performed in the Scenarios Tab.

Scenarios

Financing Report

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.

Financing Breakdown

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.

Financing Summary Graph

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.

Equity Summary

Estimate Report

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).

Estimate By Category

Estimate by Area and Type

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.

Detailed Estimate Breakdown

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.

Area Report

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.

Area Overview

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:

Cost 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:

costs breakdown

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.

Costs Waterfall

Budget Report

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:

KPIs

  • Budgeted Costs:  Those are the costs initially budgeted for your project. They include the property purchase price, transaction costs, repair costs and exceptional costs.
  • To Date Costs: Those are the costs incurred to date on your project, sourced from the Tracker tab (which is itself sourced either from the Expenses tab or manual input entered by user).
  • Projected Costs: Those costs refer to the expected total cost of your project based on your actuals (i.e. costs to date) and your project’s % of completion (calculated based on the data entered in the “% Achieved” column of the Tracker Tab). For instance, if your landscaping expenses incurred to date amount to $10,000 and you believe only 50% of the work has been done, the projected cost for that category will therefore amount to $20,000, which is the expected total cost to achieve full completion.
  • Variation: this figure reflects the difference between projected costs and budgeted costs. A negative number implies that your projected costs are below your budgeted costs and you’re therefore saving money. Inversely, if this number is positive, it means that your project is costing more than initially budgeted and you may face some cost overruns.
  • Budgeted Profit: This is your profit based on your budgeted costs (this is the figure displayed in the Dashboard when running your profitability analysis)
  • Projected Profit: This is your adjusted profit based on your projected costs
  • Variation: the difference between budgeted profit and projected profit. A positive number indicates that you’re on track for a higher profit than initially anticipated. Inversely, a negative number indicates the expectation for a lower profit due to higher actual expenses.

The second part of the report summarizes expenses by category and lets you easily compare budget vs actual vs projected.

expenses comparison

Actuals Report

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.

Actuals Tab

The report also includes a summary of the top 10 expenses by item, sub-category and vendor:

Top Expenses

Actuals Vendors Report

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.

report-actuals-vendors

A grand total of all your expenses to date is also displayed at the top of the table in the blue cell:

Grand total

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:

filter-vendors

Actuals Category Report

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.

A grand total of all your expenses to date is also displayed at the top of the table in the blue cell:

Grand 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.

Slicers

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:

clear filter

Updated on April 7, 2021