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Updated over 7 years ago,

User Stats

16
Posts
3
Votes
Susan Lisman
  • Real Estate Investor
  • Philadelphia, PA
3
Votes |
16
Posts

Question about using the BRRRR calculator

Susan Lisman
  • Real Estate Investor
  • Philadelphia, PA
Posted

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. 

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