BRRRR Calculator Analysis help

[Angela DeBorja]

Hello,

I'm trying to get practice with the BRRRR calculator and I'm having trouble! I'm trying to practice with numbers if using a HELOC for the entire purchase and rehab. I also want to practice analysis with a combination of HELOC and hard money but I just want to get the HELOC approach with the BRRR calculator straight.

In the BRRRR calculator, (using a HELOC use for purchase and rehab), would you put $0 for the down payment for the Purchase Loan Details section of the calculator, and then your estimated total purchase and rehab cost in the Loan Amount box for Purchase Loan Details?

(HELOC) analysis) Does the amortization period part of the calculator= the repayment period for the HELOC?

What do I check for points? Wrap into loan or pay fees out of pocket? It seems like it is not applicable if using HELOC funds.

What things influence the amount you use to estimate closing costs and place in the box for that? Other than contact local title companies and attorneys, is there a general range that can be used for the calculator? It seems like it could vary greatly depending on the deal. I am looking in pockets of Baltimore City. 

Thank you in advance,

Angie