With the Fixer Upper craze being more popular than ever, many people will attempt to do their own remodel and flip it for a profit. In order to understand your costs and potential for profit, you need to keep control of your expenses along the way. This can be tricky as you continually are going to pick up different materials for jobs and can be easy to lose track. We have developed an easy to use tool that will help you understand your expenses, and let you know whether you can afford to put in shiplap, granite, or whatever else you may like.
Here are the Steps to Make our Expense Report Work:
- Go to the Expense Log tab and Enter the price of your Home that you bought it for and then on the next line, enter the price that you would ideally like to sell it for. Enter all the additional info in each line item besides the ‘Type of Expense’ & ‘Name of Payee’ fields.
- Below the Sell Price, Enter all of your expenses and fill in ALL of the fields for each line item. This will keep track of how much you spent in each category as well as what was spent at each vendor. If you need to add any expenses categories or vendors, simply add them in on the Expense Categories Tab.