Developing an accurate estimate of repairs is absolutely essential to rehabbing or flipping houses for profit. If you don't nail the repair estimates, you might miss something that will surprise you during renovation and possibly cost a lot of money.
To help you more accurately estimate renovations on your house flips, I want to share with you a document that I typically only give away to attendees of House Flipping School Bootcamps. I don't do this often, but I really want you to have the best chance possible of a successful rehab flip.
The All-Important Project Repair Estimate Sheet
My project repair estimate sheet is an important part of my house flipping business because it helps me accurately project renovation costs. The sheet helps me develop and remain within a set budget, which ensures me a profit when I sell the property. I also use it to see if a potential rehab flip deal makes sense BEFORE place an offer on a property.
Properly used, I feel this repair estimate sheet can help you stay on budget and ultimately make more money on your house flips.
How To Use The Project Repair Estimate Sheet
I am sure there will be questions about the best way in which to use this sheet in your own personal real estate flipping business. That's OK, because questions are to be expected.
Here are 3 great resources for investor to get started rehabbing & flipping investment properties:
- How Much Does It Cost To Flip A House?
- 4 Essential Steps on How to Get a Loan to Flip a House
- 7 Signs That You Should Walk Away From a Deal
Need help using the project repair estimate sheet? Let me know by commenting below.