How Do You Keep Track Of Multiple Rehabs?

Comments(6)

• 
  Gyva13th June, 2004

  Excel would work really good....

• 
  active_re_investor13th June, 2004

  Do not worry about software. There just are not that many things that you need to get something complex.
  
  Keep all the receipts for each project in separate envelopes.
  
  Use excel or a yellow pad to track the items.
  
  You may find the more difficult item is not tracking the costs but tracking the commitments of when things will be done.
  
  I would suggest you do not take on too many at once until you get really good at delegating to people who perform. You need to watch closely initially so you can see what is really going on and where you can improve. Less about software then it is about on-site visibility.
  
  John
  
  PS. I am a software guy so it is not because I fear a computer that I am saying software is a red herring.
  [addsig]

• 
  redknight8313th June, 2004

  Thanks for your responses.
  
  I've created systems to manage the rehabs and tracking when certain jobs need to get done. I will definitely do a lot of on-site visibility to see what aspects can be improved or managed better.
  
  I've been currently wholesaling, and it takes me time to figure out what my cash position is. When I start these rehabs, my cash position will probably get even more complex. My question is just asking what you guys use to figure out what your immediate cash position is at any time.
  
  John

• 
  ItzMe14th June, 2004

  I have been using an excel spreadsheet to post receipts for repairs, insurance, interest, etc. This works fine. As suggested, keep receipts in seperate envelopes. The hardest part for me is forcing myself to update consistently. Sometime I wait until job is finished, but would be better if updatted daily/weekly.
  
  ItzMe

• 
  dkdrake17th June, 2004

  I have been using Excel but I just purchased MS Money Small Business. It keeps track of all the accounting but not the estimates and scheduling, which I will keep in Excel. (I dont think it does anyway - it may have a way to keep proposals and it does tie into MS Outlook). I got the MS Money program so that I can download all the transactions quickly and easily. I pay for everything by one credit card that I only use for business expenses and the checking account that is only for that. so they download quickly and easily and then i can assign a customer and/or vendor to each transaction. The customer will be the house I'm working on. The vendor is where I bought it. At the end of the year, it gives me all my totals and reports by whatever I need. There are programs that will do all that and more and are more designed for this type of thing but they cost at least $300. They are designed for contractors but work for rehabbers just as well. But MS Money SB works and is $50 with a $20 mail-in rebate from a store at ebay. So the price is not bad at all. In about a month I will be able to let you know how it's working. It will make taxes at the end of the year much simpler having everything i need in one place instead of in a bunch of envelopes. (of course it will be there too).

• 
  redknight8317th June, 2004

  Thanks a lot!
  
  That's exactly the kind of post I needed.
  
  John