Total Cash Invested on BRRRR Report

[Alex Smith]

Hi BP!

I'm trying to wrap my head around the Total Cash Invested value on the BRRRR Report. I ran a report with sample inputs and I don't see how the numbers add up.

My Refi amount is $105,000 and I've calculated my All-In Cost based on the sample data below to be:

$100,000 Purchase Price

$10,000 Estimated Repairs

$5,000 Closing Costs

$1,600 Points

$2,000 Refi Fees

$4,651.45 Holding Costs

 = $123,251.45 

To my understanding, my Total Cash Invested would be: 

$123,251.45 - $105,000 = $18,251.45

However, the BRRRR Report figure in the image below is $12,280.34

What am I misunderstanding or missing?

[Alex Smith]

I finally figured it out! 

Instead of subtracting the original 80k, I need to subtract the ending balance of the original loan prior to the refi. Otherwise, we ignore the equity gained from payments on the original loan.

Turns out to be 105000 (refi loan) - 78680.34 (ending balance before refi) - 2,000 (refi loan fees) - 36,600 (initial out of pocket) = $12,280.34

Thanks for your help @David D'Errico, I'd pretty much given up until you mentioned the original loan and got the gears running.