How Do I Deal with The Expenses across Multiple Flips?
Hi! I am new to BiggerPockets, but have been partnering on a couple house flips in NJ. We always do full teardown and new construction. We started out flipping only single homes at a time, but now we have 5 projects going on at once. We partner with one contractor/team and tend to try to take advantage of economies of scale with materials, equipment etc. We even own some equipment, like a Bobcat, but also rent equipment.
We're having trouble breaking down each home into its individual expenses, mainly labor, materials and equipment costs and amortization. I realize we could try to separate things out more, track hours etc, but things are going pretty well right now so we don't want to add a bunch of overhead and kill productivity.
Does anyone with a similar experience have something that works for them? Any help is appreciated! Thanks!