Flipulator Premium
com.danielburgnerjr.flipulatorpremium
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Description
The Flipulator Premium app is a calculator that helps real estate investors determine profitability on a property once it is rehabbed.
You start with a form that allows you to set finance model and type of rehab budget. Finance models are standard (cost of house only), owner carry rehab and finance rehab cost (house and reno budget being financed). You can set the type of rehab budget to either flat fee or rehab type.
You continue with a form in which you enter property information. This information includes location, square footage, number of bedrooms and bathrooms. You then continue with a form in which you enter sales and mortgage information. You can also enter rehab budget information. This information includes sales price, down payment, offer/bid price, interest rate, term, budget items and rehab budget. The budget items are the list of repairs. Rehab budget can be a set number or a rehab type. Rehab types include Low, Medium, High, Super-High and Bulldozer. Low represents yard work and painting ($15/sf). Medium represents Low plus kitchen and bathrooms ($20/sf > 1500 sf or $25/sf < 1500 sf). High represents Medium plus new roof ($30/sf). Super-High represents a complete gut job ($40/sf). Bulldozer represents demolition and rebuild ($125/sf).
You continue with a form in which you enter reserves information for six months. This includes insurance, property taxes, electric, gas and water. You finish with a form in which you enter closing market/property market information. This includes After Repair/Fair Market Value, Comparables, Selling Price, real estate commission, buyer and seller closing costs.
You will receive results in a easy to follow format. These results include rehab budget (if rehab type was selected), closing/holding costs, profit, return on investment and cash on cash return. You can email the information to a prospective buyer/realtor. Information can be emailed as plain text or as Excel spreadsheet. You can save the info to a file in which you can open later.