Maybe sharing my flip spreadsheet will help
I’m no expert in flipping, but I do have a strength in finance. I’ve spent years in banking, and I have an undergrad in finance.
So this is my financial rehab spreadsheet. This is NOT a cost estimator, but it will track your finances for your flip reasonably well.
I’m sure it’s not perfect, but I want to provide it to help your journey be a little easy and my hope is that feedback from those that use it can improve it over time. Meaning, I look at this as a collective project, so if you think you can help me make it better please reach out and tell me.
This is set up like a traditional income statement and statement of cash flows.
An income statement will track income and expenses from a top level and show Net Operating Income for your deal.
The statement of cash flows tracks actual cash transactions throughout your deal. I use this to build confidence and trust with my investors so they know exactly how money flows through a deal. None of them really care to go through this because they trust me but they trust me precisely because I am so thorough and transparent like this.
Both are important to standard finance industry and both are good for all investors to know and understand. So maybe this is useful and educational.
….and hopefully it’s easy enough to read. Again, if you think you can help me improve it, let a brother know!