Calculating expenses on the fly is one of the most difficult, as well as most important aspect of home flipping. Even experienced flippers can miss an expense on occasion, and have the real risk of lessening or even losing profitability. I have been in real estate for over 15 years and have flipped many homes. I have a hard time remembering everything that needs to go into the calculation of projected profitability.

FlipCalc allows you to keep track of projected costs, and determine if a possible flip is profitable, or at least to estimate what you should pay or what you need to get out of the property when you sell. FlipCalc walks you through adding costs associated with the acquisition of the property, costs required to rehab the property, costs associated with carrying the property, and finally, the estimate exit costs you will incur. Projected profit is calculated from the costs you input, and from the probable selling price you input.

FlipCalc allows you to save up to 9 different scenarios at a time. You can name each scenario with its street address, or whatever nick name you choose. The app automatically saves data as you go. If you close the app, your data will be there when you come back.

FlipCalc will not replace detailed estimates provided by your contractors, title agent, lender, nor agent. But it will help you quickly evaluate if a potential investment is worth serious consideration. And its all in your phone, for quick input, while you are walking through the property.