FREE DOWNLOAD | My Project Repair Estimate Sheet

Developing an accurate estimate of repairs is absolutely essential to 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 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.

To download your free copy of the the Project Repair Estimate Sheet, click below:

Click here to download the Project Repair Estimate Sheet

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 business. That's OK, because questions are to be expected.

I vividly remember all the questions and concerns I had when just starting in this business years ago. The good news is that I am happy to help!

Need help using the project repair estimate sheet? Let me know by commenting below.

See you at the top!

Mike

Mike

I'm a full time real estate investor, proud Dad and husband. My team and I are working to restore communities - one house at a time. House Flipping School is my way of sharing this vision with other investors who want to do good for their community, and make money flipping houses.

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Julie Davis

Great estimate sheet! Thanks Mike!

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    Mike LaCava

    No problem Julie!

    Let us know how it works for you.

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    Jaspreet Singh

    Great job Mike !
    This is a good help for people like me . I just started this ….

    Reply
Larry Brenden

Mike, thanks for the worksheet. I plan on getting a lot of use out of it!

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    Mike LaCava

    No worries! Keep us posted on how things are going for you Larry

    Reply
Sherry Williams

Thank you for the great Repair Estimate Sheet. It will be very helpful!

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    Mike LaCava

    No problemo Sherry! Let me know if we can help with anything else

    Reply
Raymond Weston

Thank you, for the Repair Estimate Sheet. I was wondering; if you also offer any videos, which walk a beginner through how to use the sheet? Other than that; thank you for sharing this form.

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Sean

Thank you Mike! it will definitely come handy when I’m ready to use.

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    Mike LaCava

    Sounds great Sean. Let us know when you are ready to put it to good use

    Reply
Brandon Durham

Looking for some investors to help me flip some properties. How do I find them?

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David Lanahan

Thank you, Mike! This will make a great guideline to use on future properties. Very helpful.

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James Earle

Are you having a meeting on the 25th of september.
Thanks
Jim

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Jack

Hello Mike! Thanks for the free sheet. are those prices for labor? I’m looking forward to start my biz flipping houses soon. I’m very close in New Bedford. Happy to know I can count on someone very close by. Is there any REI Clubs around here I can join? I got your site from Bigger pockets. I few months ago I read a few articles on J Scott and bought his book. I remember reading a post from you in one of his articles.

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    Mike

    Hi Jack – Those prices include labor and Material where applicable. Yes we run our own MeetUp in Plymouth, MA. Here is the site to sign up.
    http://www.houseflippingschool.com/meetup
    It is the 4th Thursday of every month except November & December we will be announcing a different date.

    You can also click the link on the website for the MeetUp.
    I look forward to meeting you.

    Reply
jenilee

omg that worksheet is like a godsend! ive been trying to make a budget for this house we are in the process of buying to flip and its been super hard so thank you!

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    Mike LaCava

    Very happy the worksheet helped!

    Best of luck with your flip!

    Reply
Emily

Mike,
This sheet is so helpful! My fiance and I are getting married in 14 days and we want him to quit his full time job to flip houses. We currently have an FHA mortgage in my name for our current home and were wondering if before we got married, it made sense for him to try to get preapproved for an FHA for himself to use to purchase a flip under his name so he could maybe qualify for first time home buyer perks too. Worth it or no? We are not ready for investors yet until we feel comfortable flipping a few times.

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    Mike

    Hi Emily,

    There are certain rules to buying individually and as investors. Check with the listing agent on any property you are thinking of buying using FHA funding. You can also check with the mortgage broker the same. In many cases some of the bank owned properties have specific rules that you can’t flip a property if you buy it for yourself for a certain period of time. Some of the listings will specifically state “for occupied buyers only” for first 30 days then be offered to investors if no offers get accepted. Also seriously look at your finances before he quits his job as this is not a get rich quick career. You want to make sure you have enough money saved up for at least a year of salary in my opinion if you make that big of a leap. All the best !!! and Invest wisely.

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Paul

Mike, I finally found a spread sheet that I can actually use for my REI business. Are the prices pretty much applicable in most states? I’m in Louisiana. Thanks a lot Mike!!!

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    Mike

    Hi Paul – Materials would probably me similar but labor could be different depending on supply and demand. It is a good fast way to get a rough idea on cost when you need to quickly. If you are new to investing make sure you have your sub-contractors visit the property with you and try to cover every repair you can think of. Make sure you check attics and basements for structural integrity as many newbies miss the big repairs. All the best!

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Scott Levert

Mike,
Read your info on flipping houses. First of all, real estate is not knew to me, my father was in real estate and a contractor so I have been around it all my life just never personally involved. Yet, my father no longer around so wanted to know how to get started as part time for now. As of right now I am a RN and semi truck driver so wanted to see how to make it fit into my schedule now. Thanks, Scott

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    Ryan

    Hi Scott, thanks for chiming in.

    It is possible to flip houses on your own schedule. After all freedom and flexibility are 2 main reasons why people pursue this business.

    With that said it is a business that requires a serious commitment to make it work.

    I would highly recommend checking out the materials in Mike’s Tool Kit > http://houseflippingschool.com/tool-kit/ He lays out everything that is involved and everything you need to do to get started on a part-time, or full-time basis.

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Nate

Hey Mike – Thanks for the great worksheet. A few things you might want to consider adding.

Insurance
Taxes
Utilities
Closing Costs (could be considered part of purchase price)
Realtor Fees/Percentages (could be considered part of purchase/selling price)

These are all costs that affect our overall bottom line and investment, often times these are overlooked.I see you have “other” and “Miscellaneous” but its easy enough to add some lines and modify your calculations, your spreadsheet is a great starting point.

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    Mike

    Hi Nate

    Ty for taking the time to review the estimate repair sheet. We do carry those costs in our Deal analyzer as they are critical costs like you mentioned. This sheet is intended to calculate your cost of repairs which later gets more defined in a full scope of work that is sometimes several pages and more.
    TY for your comment

    Reply
Jabat Hickman

Looking for support and tool for investing.

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Lauren

Thank you! Such an easy way to get a broad view of the repair estimate. Really appreciate the free download.

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Jhalak Acharya

Mike,
I would like to join your team in NYC on weekends. any possibility.

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    Mike

    We don’t have any events on the schedule for right now, but please check back during 2018. Thank you Jhalak.

    Reply
Ryan Nimely

hey im a very new real estate investor still working on getting that first deal. i was wondering if this repair sheet is applicable to Georgia houses?

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    Ryan

    Yes, however the sheet is just a tool to help you estimate costs. You must do your own research regarding costs in your area. This is critical.

    Reply
Debbie

Very kind of you to share!

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Fredrick Bolden

To Whom It May Concern:

I need help with using the Project Repair Estimate Sheet

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    Ryan

    Hey Frederick, Mike shares a lot of information which is great for people looking to get started here > http://houseflippingschool.com/tool-kit/

    After you buy into the program (right now it’s only $97) I am sure Mike would be able to offer some words of wisdom about using the sheet. However Module #6 of the program itself will probably answer those questions for you.

    Reply
rebecca morgan

i want to learn how 2 flip houses full time

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