Renovation Costing Template
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The template you have been waiting for! This template will help you cost out exactly how much a renovation is going to cost you, before you have even made an offer. When professional investors work out exactly how much profit there is in a deal, they don't base their numbers of guess work. The first work out how much the renovation is going to cost them, which they then feed into their profitability analysis to see just how much real profit the deal will create. You need to know how much work is involved down to the smallest detail, what kind of work is required (fix, replace, move, remove, add, etc), the materials that are needed, as well as the tradesman that are required. |
All those costs add up to give you the real cost of any one thing you are changing in a property. Now imagine if you were able to capture every little thing that needed changing and that kind of cost breakdown for it. You would be able to calculate a pretty accurate costing for the full renovation before you have even made an offer. You would also be able to incorporate the Renovation Costing into your Profitability Analysis using the Property Analysis Tool.
It not only makes a great shopping list to use when you approach suppliers and tradesman, to get the best deals and discounts, but it is also a useful negotiation tool.
If you are serious about your investing, you need to utilise the tools and techniques that I and other professional investors use and have proven to work successfully.
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