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Updated over 7 years ago,
Question about using the BRRRR calculator
This may be a ridiculous question -
I have been using the BP calculators as I examine my options in the Philadelphia area.
I will be drawing my full purchase price and repair costs from a personal line of credit and intend to refinance once I get a renter in the space. When using the calculator should I be entering in the complete amount or just the purchase price.
For example - if I am buying a property at $150k and using an additional $30k from my line of credit to rehab - do I enter the loan amount at $150k or $180k? I have been using the larger number, but I want to be sure I am not skewing my results.