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Flipping Finances Getting Started (Excel Spreadsheet)


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Hi All,

Just wanted to give something back to the propertyhub as I have been listening for the past 6 months and a lot of the back dated ones and has given me the confidence to go forward into property

 

I am looking at buying my own house hopefully before Summer. I am then looking at going into property flipping to begin with, with a friend of mine (a disillusioned teacher). Then onto investment when the funds are there.

 

Attached is a spreadsheet I have developed: -

You are able to see what is viable instead of a finger in the air. Ie. Quit our jobs and go all out into property flipping.

Filling in the spreadsheet it showed us that at the start we would be required to do 2 days (contract architectural for me and supply for my friend). Both of our wives will be looking to go to 3 days when we start a family so this can be taken into account. It gives an accurate representation with all deductions factored.

 

This spreadsheet is a guide and not a definite outcome. But the more you know the better decisions can be made. You can also use this as a convincing tool if your partner is not fully on board.

 

Regards,

Chris

Finances (Getting Started).xls

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