Flip and Cash — Fetching Your First FlipFetching Your First FlipWeek 3 • Scope + Budget
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WEEK 3 SCOPE OF WORK + BUDGET

From Paws
to Plans

Turn your property-walk clues into a clear renovation roadmap, then build a preliminary repair budget that protects your numbers.

✓ Organize repairs by trade✓ Write measurable line items✓ Estimate labor and materials✓ Add a contingency reserve
Start building the plan →
Flip and Cash reviewing renovation plans and a contractor checklist
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Flip’s field-note reminder

A Scope of Work and budget are only as accurate as the information behind them. Verify hidden conditions, measurements, permits, specialist concerns and current local pricing before signing contracts or committing to a final budget.

THE PROJECT ROADMAP

What is a Scope of Work?

A Scope of Work—or SOW—is the written description of exactly what will and will not be completed during a renovation. It turns your Week 2 observations into instructions that can be reviewed, priced and managed.

A strong SOW answers:

What work is being done? Where? How much? Using which materials? Who supplies them? What details define “complete”?

Clearer bids

Every bidder prices the same list.

Fewer surprises

Missing details are found before construction.

Better accountability

Completed work can be checked against the written plan.

Stronger budgets

Itemized work creates a defensible repair estimate.

An SOW supports—but does not replace—a signed contractor agreement, approved plans, required permits, engineering or qualified inspections.

COMING UP NEXT

Test the deal—and protect the profit

With your SOW and preliminary repair budget in hand, you’ll be ready to reconcile contractor bids, test the complete deal numbers and make better investment decisions.

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