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Updated over 11 years ago on . Most recent reply

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Clayton P.
  • Landlord, Wholesaler and Agent
  • Newton, NJ
46
Votes |
97
Posts

Excel/Numbers spreadsheet formulas for repairs

Clayton P.
  • Landlord, Wholesaler and Agent
  • Newton, NJ
Posted

Hey all!

I have ballpark estimates I use for what certain repairs to a property will cost, i.e. :

1 New window w/ trim: $220

Bay Window: 220 x 3

Exterior Door: $250

Framed Porch: $12/sq.foot

A/C: $1400/Unit

etc.

How do I go about creating a spreadsheet that lists the items, and as I'm walking the property with an iPad, I can input quantity values, i.e. Windows: _15_ & in the next cell, it spits out $3300?

(220 price per unit x 15 units) So when I finish walking the property, I have a cost amount for repair thats easier to keep track of?

I'm completely novice to Excel/Spreadsheeting, so as step-by-step as you knowledgeable folks can get would be appreciated!

Thanks in advance!


Clay

Most Popular Reply

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494
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Stephanie Dupuis
  • Residential Real Estate Broker
  • Bremerton, WA
142
Votes |
494
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Stephanie Dupuis
  • Residential Real Estate Broker
  • Bremerton, WA
Replied

You may want to go to J Scott's website 123flip.com and use his rehab excel spreadsheet. It's available to download/use for free. Also, on BP...Fileshare has several such documents. Sift through the list and then adapt an excel spreadsheet to your specific uses.

RE: Specific play-by-play excel usage...that will take awhile to type out here. Some basics to get you started:

1. Enter your categories either on the top or side as you'd like

2. Insert feature - highlight the entire "row" (not just the cell). Then right click on the highlighted row. Click insert from the menu. A new row will appear. *If you only insert a cell (as apposed to a row, it will mess up your data)

3. Excel has computation functions. The options are numerous and wonderful.

Here are some basics (a rough job here, so forgive):

Columns run North and South in excel.

Rows run East and West.

Cell - an individual box where you can enter data.

To compute items, you need to align a column that is an item (such as a window) with a row that is a Cost or Number/Quantity (such as number of windows or cost of windows).

Example:

To compute 15 windows @ $10 each, you use a formula in the cell you want this information to appear. So, I'm going to make up the cell #'s this data exists in to provide an example and hope it works for you (you can also access MS office help if needed):

Cell A2 = 15 windows

Cell B2 = $10 (each - you only enter $10, you cannot enter words)

In cell C2, to calculate the total you will enter the formula:

=A2*B2

Then press ENTER

****

From now on, you can change the numbers in cell A2 and cell B2, and the total will change in cell C2 automatically for you.

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