Rehab Estimator and Cost Tracker

The Rehab Estimator and Cost Tracker assists in estimating, tracking, and controlling costs associated with rehabbing a residential home. This tool contains a Quick Rehab Estimator populated with current pricing that will allow you to create your initial rehab estimate with confidence in minutes by simply answering questions and entering quantities  for your project!  It also contains an extensive pricing sheet created by experience investors with over 160 items priced so you can tailor your budget based on your rehab.  The customizable rehab budget template can either pull in pricing from the Estimator or you can create a manual based on your contractors’ estimates. It helps you easily breakdown the rehab budget into various categories, ensuring no expense is overlooked. From holding costs, to replacing windows, flooring, roof repair, to the finishing touches, every aspect of your project is covered. Track costs for key components such as flooring, Kitchen and bath remodels, exterior repairs, interior finishes, plumbing and electrical systems, and even none construction costs such as permits, holding costs, and selling expenses such as staging and commissions. By allocating the appropriate budget for each category, you can effectively monitor expenses and ensure that your project stays within its financial boundaries. This tracker also provides a dedicated section for contingency, allowing you to allocate a portion of your budget for unforeseen circumstances or potential changes during construction.  

Additionally, this tracker provides a dynamic report capability automatically pulling data from the Budget Worksheet and the Expense Worksheet to deliver real time expenditure report, draw report for the lender, a budget to actual analysis with the ability to forecast remaining costs, and an overall project summary report.

By utilizing the Rehab Estimator and Cost Tracker, you can:

• Maintain a clear overview of your project’s financial health

• Bring clarity & confidence to the financial scope of any rehab project

• •  Prioritize tasks & allocate resources more accurately, ensuring you don’t overspend in one area to the detriment of another

• Better assess the potential profit of a project and make more informed decisions

As a Real Estate Investor, whether you are going to sell the property or retain it as a rental, this template is an indispensable resource for successful budget management.

What is included:

Quick Rehab Estimator: This tool will make creating an initial cost estimate for you rehab a breeze. This tool includes pricing for a standard level rehab structured so all you have to do is answer simple questions about the scope of your rehab and it will automatically calculate your initial rehab estimate.  

Rehab Pricing:  Key to being successful as a Real Estate Investor is knowing what is costs to rehab a property. This sheet includes pricing for over 160 most commonly needed items for a rehab with material, labor, or unit cost and structured so all you have to do know is the quantity or square/linear feet needed. We pulled pricing from local DFW merchants used by experienced investors their rehabs.  This is a living tool, critical for any investor, that you can continue to add and update to help you maintain prices for the types of things you buy and prices of your contractors for your future projects and to keep the Quick Rehab Estimator updated with the latest pricing.  

Budget Estimator: This detailed budget worksheet helps you identify all of the costs needed to rehab a project to ensure you don’t miss anything. You can pull in the costs from the Quick Rehab Estimator or create a manual budget based on contractor quotes by selecting yes or no at the top of the page. Using the manual entry allow you to identify items are to be repaired or replaced, the qty of an item, and a description of what is to be done for each critical component. You can provide a copy of this breakdown to a contractor to bid off of and when you have a final price enter it into the materials and labor columns to track these estimates for the life of the project.  The cost information from this will be used in the budget versus actual analysis report.

Expense Tracker:  A detailed expense tracker allows you to record all of your expenses for the life of the project, assigning item numbers to each expense, and identify holding costs and payees to allow for detailed reporting and tracking capability and analyze project expenditures.

Expense Report: This Report automatically pulls data from the expense tracker to roll up costs by category and provides a breakout by holding, purchase and rehab costs, payee, and method of payment.

Draw Report: If a lender is reimbursing construction costs, the expense tracker will keep track of the applicable draw the expense will be reimbursed from so this report will automatically report the amount for each draw by category to provide to the lender. 

Expenditure Analysis Report:  This report pulls the original budget from the estimator and actual expenses from the expense tracker to track your project costs in real time and see your planned versus actual cost to help you stay on budget.  This Analyzer also allow you to assess the percentage of work still remaining in each category to determine the remaining cost so you always know where you stand financially on your project.

Project Summary: This report tracks you profit margin based on your projected sale price of the home. 

Power Team:  Maintain a roster of everyone on your team for the project. From Real Estate Agent to Contractor to Inspectors, keep track of everyone in one place with notes to remember when you use them on the next project.