KEEPING TRACK OF YOUR CONSTRUCTION LOAN PAYMENTS WITHOUT LOSING YOUR MIND
Honestly, I’ve tried a bunch of different methods and none are perfect. Spreadsheets work for me because I can filter, search, and add formulas—handwriting just gets lost in the shuffle (plus, my penmanship is barely legible). The photo receipts thing is smart though. I actually use an app that scans and tags receipts automatically, then I back up everything to a local drive. That way, if the cloud acts up or my phone dies, I’m not totally out of luck. It’s a bit more setup at first but really pays off when you’re tracking dozens of payments across a long project.
KEEPING TRACK OF YOUR CONSTRUCTION LOAN PAYMENTS WITHOUT LOSING YOUR MIND
I hear you on the spreadsheets—tried paper ledgers once and it was a disaster. I’ve found that using a combo of Google Sheets and a receipt scanner app keeps things pretty tight. One thing I do differently: I set calendar reminders for draw requests and payment deadlines. It’s not fancy, but it saves me from missing stuff when things get hectic on site. The backup to a local drive is smart... learned that lesson the hard way after a phone crash last year.
KEEPING TRACK OF YOUR CONSTRUCTION LOAN PAYMENTS WITHOUT LOSING YOUR MIND
Calendar reminders definitely help—I've tried relying on memory, and that was a mistake I won't repeat. I’m curious, though: how do you handle tracking change orders or unexpected expenses? Even with spreadsheets, I find it tricky to keep those from slipping through the cracks, especially when subs send last-minute invoices. Do you just add a new tab, or is there a better way to keep things transparent for the lender?
KEEPING TRACK OF YOUR CONSTRUCTION LOAN PAYMENTS WITHOUT LOSING YOUR MIND
Honestly, spreadsheets are fine for the basics, but they start to fall apart once you get into the weeds with change orders and those surprise invoices. I’ve seen people try to just tack on a new tab every time, but that gets messy fast—especially if you’re juggling multiple projects or lenders. In my experience, a dedicated project management tool (even something simple like Buildertrend or CoConstruct) is way more effective. You can upload docs, track approvals, and even give your lender access to see the paper trail in real time.
Trying to keep everything transparent with just Excel is asking for trouble, especially when subs send you a text with a new charge at 8pm on a Friday. I used to think I could just “remember to add it later,” but that’s how things get missed. If you’re serious about keeping lenders happy and your sanity intact, it’s worth investing in something purpose-built for construction. Spreadsheets just don’t cut it once things get complicated.
KEEPING TRACK OF YOUR CONSTRUCTION LOAN PAYMENTS WITHOUT LOSING YOUR MIND
I totally get what you mean about spreadsheets getting out of hand. I tried to keep my last project organized in Google Sheets, but once the change orders started rolling in, it was chaos. I’ve heard good things about Buildertrend, but I’m curious—how do you handle all the little expenses that pop up, like random hardware store runs or last-minute fixture swaps? Do you log those in the same system, or is there a better way to keep track of those smaller costs?
