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Updated over 11 years ago on . Most recent reply

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41
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2
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Chris Wyche
  • Real Estate Investor
  • Philadelphia, PA
2
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41
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Looking for an app to keep track of expenses during a renovation

Chris Wyche
  • Real Estate Investor
  • Philadelphia, PA
Posted
Does anybody know of a good app (apple or android) that can help me keep track of all my expenses during a renovation? I need something that will have my total renovation budget, then totals expenses up as I put them in (supplies, labor, etc.) to make sure I'm not going over. Anybody using anything like that?

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1,980
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Bryan L.
  • Residential Real Estate Agent
  • Cookeville, TN
948
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1,980
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Bryan L.
  • Residential Real Estate Agent
  • Cookeville, TN
Replied

I would be interested in this too. But the truth of the matter is - you have to spend what you have to spend on a rehab, regardless of what your budget is. For example, on one of the rehabs that I'm doing right now we have a septic and/or drain line problem. This was only found after we had been working on the job for a few weeks and was not in my initial repairs estimate or "budget". But it has to be done anyway. The money has to be spent. I'm like you in that I like to keep a running total (at least in my head) and to know where I stand on a rehab, but the truth is that "knowing the numbers" doesn't "change the numbers". If we see that we are going over budget, we may decide to do some things differently, in a manner that is less costly. But why not do it that way regardless, if the less costly alternative is an adequate repair that won't lose us money when we sell it?

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