Easily Replace Calculated Field in the Home Repair Contract

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How to Replace Calculated Field in the Home Repair Contract

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in order to analyze the numbers on a distressed property either to fix and flip or wholesale to a fixing clipper its important you know how to quickly determine the cost of repairs so you can decide your offer price so on this video using updated 2022 numbers im going to show you my proven algorithm for how to calculate the cost of repairs on any house in 60 seconds or less coming up [Music] for a limited time you can get a free copy of jerry nortons data cruncher software which finds cheap houses in your area get it now at mydatacruncher.com if youre new here im jerry norton i make millions of dollars a year wholesaling and flipping houses and here on my youtube channel i show you how to do the same so if you want to be a flipping genius like me and live your dream life subscribe to my channel and watch my videos as a flipper you know how important it is to accurately calculate the cost of repairs when considering a deal get that wrong and you can be way off on your numbers and b

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How is replacement asset value calculated?

Replacement Asset Value Calculation First, add together all maintenance-related costs performed on a specific asset over the course of a year. Next, multiply that number by 100. Finally, divide the product from the first two steps by the total cost to replace said asset.

How is replacement cost calculated?

The easiest way to calculate the replacement cost is to estimate the local cost per square foot to build a home by your homes square footage. So, if your local contractors charge an average of $150 per square foot, and your home is 2,000 square feet, the RCV for your home would be $300,000 (150 x 2,000 = 300,000).

What is the percentage of replacement asset value for maintenance cost?

You should budget approximately 2% to 5% of your total replacement asset value (RAV). This metric, known as %RAV, is calculated as a proportion of your facilitys value and spending. %RAV is a guiding KPI that aids facility and maintenance managers.

What is maintenance rate percentage?

Planned maintenance percentage is calculated by dividing the total number of planned maintenance hours in a given period by the total number of hours spent on all maintenance in the same period. This number is multiplied by 100 to give you the final percentage.

What is the replacement value of equipment?

What is the replacement value? Basically, the replacement value includes all costs that have to be spent in order to be able to replace a similar and equivalent item (machine, plant, operating equipment, etc.) at a certain point in time.

What is the replacement asset value of maintenance?

Replacement asset value (RAV) is a phrase most commonly used by accountants and insurers but it is relevant to maintenance too. RAV allows you to benchmark the performance of your maintenance program, reduce maintenance costs, and improve the reliability of your assets.

What is the maintenance cost to asset value ratio?

The MC/RAV percentage measures the annual cost of maintaining a piece of equipment against the value of the equipment. Basically, the lower the percentage, the more valuable a maintenance program is to an organization. Most facilities departments are advised to keep their maintenance cost/RAV percentage at 3% or lower.

What is an example of a replacement cost method of valuation?

Replacement Costs Example If a company bought a machine for $1,000 five years ago, and the value of the asset today, less depreciation, is $300 dollars, then the book value of the asset is $300. However, the cost to replace that machine at current market prices may be $1,500.

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Replace Calculated Field in the Home Repair Contract