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Follow up on the latest improvements and updates.
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We're thrilled to unveil our latest feature designed to transform the way you and your team collaborate on your house flipping projects:
Project Updates!
Now, you can keep your entire team, business partners, and lenders in the loop with real-time progress updates and daily logs, all within the FlipperForce platform.
How it Works
Navigate to the Project Updates feature in the left sidebar under the "Project Pulse" section. From there, you can click "Create Update" to create a Project Update for your project!
- Capture & Share:Capture on-site photos and upload them directly to the platform, giving remote team members, partners, and lenders a clear picture of the project's status.
- Provide Context:Add detailed text descriptions to your photos, outlining completed tasks, upcoming milestones, or any challenges you've encountered.
- Keep Everyone Informed:Your project updates are instantly shared with all relevant stakeholders, ensuring everyone stays on the same page.
Unlock the Benefits of Project Updates:
- Efficient Project Management:Project Updates streamline communication, eliminating the need for endless emails and phone calls. This frees up your time to focus on what you do best – flipping houses.
- Enhanced Transparency:Project Updates foster a transparent environment where everyone involved has access to the latest information, reducing misunderstandings and improving decision-making.
- Improved Collaboration:By sharing real-time updates, you enable seamless collaboration among team members, even if they're not physically present at the job site.
- Increased Accountability: Daily logs and progress updates create a sense of accountability, ensuring that tasks stay on track and potential issues are addressed promptly.
- Strengthened Relationships:Regular communication through Project Updates builds trust and rapport with your business partners and lenders, leading to stronger working relationships.
Upgrade To Teams/Business Plans
The Project Updates feature is exclusively available for Teams/Business plan users. If you're on a Solo plan and seeking better ways to connect with your Team, this might be the perfect time to explore our Teams plans. If you have any questions about upgrading to our Teams/Business Plans please reach out in chat!
We Value Your Feedback
As you integrate Project Updates into your workflow, we encourage you to share your feedback and suggestions for further enhancements. FlipperForce is committed to continually refining our platform to meet the evolving needs of our users.
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Photo Log
Now Support for HEIC Images from IPhones!
We're excited to announce that FlipperForce now supports HEIC image uploads! That means if you're an iPhone user, sharing your project photos just got a whole lot simpler.
No more converting or resizing – now you can easily just snap and upload directly from your phone!
With our new HEIC support you can now seamlessly upload your HEIC photos directly into:
-
Project Updates:
Keep your team in the loop with the latest visuals.- Photo Log:Easily document your progress over time.
- Investment Reports:Enhance your reports with high-quality images.
So go ahead, grab your iPhone, and start sharing those amazing photos!
What is an HEIC Image?
HEIC (High Efficiency Image Container) is a modern image format known for its superior compression. This means HEIC images take up less storage space than traditional JPEGs while maintaining excellent quality. Introduced by Apple, it's the default format for photos taken on iPhones and iPads.
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Accounting Reports
Sleep in Peace, West Coast! You're Now in Control of Digest Email Timing
In the past our 6AM CST Daily and Weekly Digest emails were a rude awakening for our West Coast users. No one wants their to-do list delivered at 4AM PST! That's why we're thrilled to announce an new improvement that allows you to pick what time you receive your Daily and Weekly Lookahead Emails!
How to Change your Digest Timing
- Click your User Avatar in the upper right corner and select "Email Preferences"
- Pick the time Time and Timezone you want to receive your Digest emails
- Sleep in.
What is the Daily and Weekly Digest?
FlipperForce sends out Daily and Weekly Digest emails that provide a list of all of the scheduled construction renovations and tasks you need to get done in the day and week ahead so you can keep your projects on track!
With the launch of our new Portfolio Table view, you can now create an overall Portfolio report that showcases all of your successfully completed projects to help you build massive credibility and secure funding for your deals!
Why Proof of Experience Matters?
When you approach lenders and business partners, one of the first things they look for is experience. As a house flipper, your track record is key. That's why we created this dedicated report –
to showcase your accomplishments and prove you're a qualified, experienced flipper they can trust.
How it Works:
Head over to your revamped Portfolio Dashboard where you will find your "Completed/Sold" table which showcases all of your successfully completed projects!
What's Included?
This Portfolio Table provides a comprehensive overview of your successfully completed projects, including:
- List of Completed/Sold Projects: See all your flipping wins in one place.
- Project Details: Get specifics on purchase dates, completion dates, and holding period for each project.
- Financial Breakdown: Dive deeper with details like purchase price, renovation costs, and your final profit for each flip.
Sharing Made Easy:
You can easily share your Portfolio Report using a PDF or CSV spreadsheet:
- Print a PDF: This is perfect for a professional, hard copy to present to lenders or partners.
- CSV Spreadsheet: Download a CSV spreadsheet file that you can use to create a custom portfolio report.
Get Funded Faster:
With your Portfolio Report in hand, you can confidently demonstrate your expertise and secure funding for your next project with greater ease.
The search bar along the top navbar is now sorted by the most recently updated projects.
Type to Search
You can still "type to search" to easily find the project that you are wanting to find by typing the project name or address.
We're excited to announce the launch of two powerful new features designed to streamline your workflow and empower informed decisions:
Map views and Table views
across all your Project Dashboards!New Map Views!
Imagine having a bird's-eye view of your entire real estate operation. With our newly launched map views across all Project Dashboards, that vision becomes a reality!
Main Project Dashboard Map View
On our Main Project Dashboard we added a new map view that shows all your projects, including Leads, Active Projects and Completed Flips, plotted on a map. This overall map view will help you Identify areas with high project concentration, helping you strategize future investments and optimize your growing portfolio.
Leads, Active Projects & Portfolio Map Views
Each Project Dashboard (Leads, Active Projects, Portfolio) also now includes a map view alongside the Pipeline & Table view options.
Enhanced Data Insights with Table Views
The Map view provides a high-level picture, but we know you also crave the details, so we added new Table views to all of our Dashboards that provide the most important datapoints for each stage of your projects.
- Leads Dashboard: The Leads Dashboard Table view provides an overall view of the financial analysis for every Lead you have in your pipeline. The Lead Table view focuses on the financial datapoints like ARV, purchase price, renovation costs, and projected profit so you compare profitaiblity of your opportunities side-by-side. This table also shows how much Cash and Funding you will need for each deal so you can plan how much capital you need to raise for your deals.
- Active Projects Dashboard:The Active Projects Tablie view provides an overall view of all of project milestones, budget vs. actuals, and potential risks for your Active Projects. The table displays purchase date, construction start and completion targets, and your sales goals. Track spending with the "Spent to Date" column and identify variances from your budget.
- Portfolio Dashboard:Analyze the performance of your Completed Projects with ease. See buy and sell dates alongside final financial results. The table showcases the final sale price, your renovation and holding costs, and calculates your total profit. We've even included dedicated tables for rental and wholesale holdings, providing valuable insights for your entire Portfolio.
With the launch of our new Accounting Dashboard improvements we added a new Completed/Sold Table view which showcases all of your final profit information from all your completed flips!
The Completed/Sold Table view provides an overview of all of the high level financials for your completed projects for tax season:
- A comprehensive overview of the financials for all your completed and sold projects.
- Project details including purchase and sale dates.
- Total income generated from the property sale.
A breakdown of final project expenses, including:
- Purchase costs
- Renovation costs
- Buying, holding, and selling costs
- Clearly displayed final profit for each project, calculated by subtracting expenses from income.
Tailored for tax season:
Understanding when you recognize profit is crucial for house flip accounting. The Global Profit and Loss Report allows you to filter data by the year the property was Sold. This way, you can easily calculate your total annual Profit from all your flips – a lifesaver come tax season!
Print the Report to a PDF or Export the Report to a CSV
- Print your report to a PDF so you can share it with your accountant
- Download the data to a CSV spreadsheet so you can run your own custom calculations for tax purposes!
We're thrilled to announce the launch of major improvements to the Accounting Dashboard which brings you a more focused and informative way to visualize the financial health of your projects, from active renovations to completed flips and long-term rentals.
Consolidated Financial Overview in One Place
The redesigned Accounting Dashboard provides a consolidated view of your budgets and expenses across all your projects, whether they're actively under construction, successfully completed, or long-term rentals.
Active Projects Table
- Compare your budgeted costs with actual spending to identify potential overages and keep your projects on track.
- See the forecasted impact on your profit margin, allowing you to make informed budget adjustments.
Completed/Sold Table
- Gain valuable insights into the final profitability of your completed projects.
- Easily access income, expenses, and final profit figures for tax purposes.
Rental Holdings Table
- Track the cost basis of your rental properties.
- Understand how much you've invested in getting them up and running.
Export for Further Analysis:
- Need the data in another format? No problem! Every table allows you to export information to a CSV spreadsheet or copy it to your clipboard.
- Run custom reports, filter data by specific criteria, or integrate it with your favorite financial software for deeper analysis.
To access the Accounting Dashboard, navigate to the "Dashboards" dropdown menu in the top navigation bar, under "By Feature."
We just launched a new update to our Estimating Dashboard, designed to empower users with a clearer understanding of project costs and historical spending. This revamped Estimating Dashboard offers a one-stop-shop for visualizing and analyzing your estimates, helping you make smarter financial decisions for future flips.
Key Features:
- Consolidated Estimate View:See all estimates from the Repair Estimator tool in a single table, providing a high-level overview of your entire project portfolio.
- Enhanced Cost History Tracking:Review your complete spending history, including total project costs, average cost per square foot, and breakdowns across categories like exterior, interior, and MEP systems.
- Construction Strategy Tagging:Analyze spending trends based on project complexity. A new "Construction Strategy" data point allows you to categorize projects by renovation level (cosmetic, heavy, or gut rehab) and see how costs differ between these classifications. (Note: This data point is added on the Property Info page under Project Strategy.)
- Export to Excel/Google Sheets:Gain further control by exporting your data to a CSV file for custom calculations in Excel or Google Sheets.
Benefits:
- Improved Estimating Accuracy:Leverage historical cost data to identify trends and make more informed estimates for future projects.
- Smarter Project Planning:Gain insights into how much you typically spend on various project types and property areas, allowing for better budget allocation.
- Streamlined Workflow:Easily export data for further analysis in your preferred spreadsheet software.
To explore the new Estimating Dashboard, go to the "Dashboards" dropdown menu at the top nav bar, and click Estimating:
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Flip Analyzer/BRRRR Analyzer
Analysis Dashboards Get a Powerful Upgrade
We're excited to announce some major improvements to your Analysis Dashboards! These updates provide a consolidated overview of your key deal analysis metrics, giving you a more powerful and insightful overview of all of your deals.
Access the revamped Analysis Dashboard from the "Dashboards" dropdown menu in the top navigation bar. It's now organized under the "By Feature" section.
Consolidated Deal Analysis in One Place
Our revamped Analysis Dashboard provides a central location to view all your crucial analysis data points in a single table. This means you can see high-level summaries of all your Flip Analyzer and BRRRR Analyzer projects side-by-side for effortless comparison.
Flip Analysis Table
We've supercharged the Flip Analysis table with a bunch of new data points, including:
- Enhanced Profit View: See a clear picture of your project's profitability with all the high-level data points used to calculate profit, including ARV, purchase price, repair budget, fixed costs, financing costs, and calculated profit.
- Compare Profitability Side-by-Side: Analyze the overall profitability and Cash-on-Cash Return (COCR) of your deals in one location.
- The 70% Rule Gauge: Get a quick measure of how your deals stack up against the industry standard 70% rule. This allows you to identify buying opportunities and assess historical trends.
- 70% Rule Comparison - See how your deals stack up against this industry benchmark.
- Cash, Funding & Capital Needed: Understand how much cash you'll need to cover upfront costs and how much outside funding you may require. This is crucial for planning how much capital to have on hand, especially if you're considering multiple deals.
New BRRRR Analysis Table View
For our buy, rehab, rent, refinance, repeat (BRRRR) investors, we've introduced a brand new BRRRR Analysis table. This table mirrors the Flip Analysis table structure, but with a focus on metrics that matter to long-term rental investors, such as:
- Short-Term Equity: See the potential equity you can build by acquiring the property at a discount and renovating it.
- Long-Term Results: Analyze factors like monthly rental income, operating expenses, debt service, cash flow, and total return on investment.
- Stabilization & Refinance Cash Flow: Understand how much cash is needed to stabilize the property and the potential remaining cash after refinancing.
This high-level overview empowers you to compare potential long-term investments side-by-side and make data-driven decisions about your real estate portfolio.
Export to CSV for Further Data
Need to run your own custom calculations? No problem! Our Analysis Dashboards now allow you to export your data to a CSV spreadsheet for seamless import into Excel or Google Sheets.
We're constantly striving to improve FlipperForce to better serve your needs. If there are any additional data points you'd love to see included in the Analysis Dashboards, please let us know!
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