The Project Budget Creator is used to create a master project budget for your rehab project that will be used to manage costs throughout the project.
Everything you need to manage your rehab project budget, all in one dashboard!
Budgeted After Repair Value
The budgeted after repair value is the property value you anticipate you will sell the property for based upon updated comparable sales data.
Fixed Costs Budget
Repair Costs Budget
The repair costs are calculated using the Repair Cost Budgeter, and displayed on the Project Budgeter. The Repair Costs are broken down by Scope of Work so you can see what your budget is for each scope for the project.
Projected Rehab Profit
Simply fill in the desired profit or use the macro buttons to calculate profit based upon profit %. Let the dashboard calculate profit per month and ROI results to pinpoint the profit that will satisfy your investment goals.
What is the project budgeter?
The project budgeter is used to establish a project budget after you get a property under contract.
When do I use the project budgeter?
Once you get a property under contract you will have time to establish a detailed scope of work, receive contractor proposals and determine the low qualified bidder for your project. You can then use the contractor input to create a project repairs budget that will be used for construction.
What's the difference between the rehab analyzer and the project budgeter?
The rehab analyzer is used to estimate the value of a property and determine the maximum purchase price to offer for a property. The project budgeter is used to establish the budget for a property to be used as a baseline for construction and project cost management.
Budgeted Rehab Profit = Projected After Repair Value - Actual Purchase Price – Total Fixed Costs Budget – Repair Cost Budget – Repair Cost Contingency
Total Investment Budget = Actual Purchase Price + Total Fixed Costs Budget + Repair Cost Budget + Repair Cost Contingency
Total Holding Costs = Total Monthly Holding Costs * Total Holding Period
Actual Purchase Price – After you close on a property, review your HUD-1 statement and determine what you actually paid for the property; plug this value into the actual purchase price box.
Buying Costs – Review your HUD-1 statement and plug in the buying costs paid to purchase the property.
Holding Costs - Plug in the anticipated rehab schedule & listing period to determine the total holding period for the project. Next, plug in the budgeted monthly holding costs for each item which will be multiplied by the total holding period to create a total budget for holding costs.
Selling Costs – Plug in your budgeted selling costs for selling the property such as realtor commissions, seller assisted closing costs & home warranties.
Repair Costs Budget – Repair cost budget costs are pulled from the repair cost budgeter. You can toggle between ‘DIYED’ or ‘SUBBED’ to see how the DIY savings impact the project budget.
Repair Cost Contingency – Repair budget contingency is calculated by multiplying the contingency % by the total repair cost budget. A good rule of thumb is to carry between 5 to 10% contingency.
Budgeted After Repair Value – The projected after repair value is the forecasted fair market value of the property after property renovations.
Total Investment Budget – The total investment budget is the total investment needed to fund the project which includes the purchase costs, fixed costs, & repair costs.
Budgeted Rehab Profit – Budgeted rehab profit is the projected amount of profit that will be made on the project based upon the Budgeted After Repair Value and Total Investment Budget
Project Budget Report
Project Budget vs Estimate