Updated over 5 years ago on . Most recent reply
Rental Calculator ERROR when using 0% interest
I was running some numbers in the Rental Property calculator and I came across an error. In an attempt to make a deal for myself I was considering a seller finance option where the seller got his asking price but at 0% interest. When I entered this in the calculator it would not calculate the monthly mortgage payment, and it gave a total expenses number of $0. This was despite calculating my other expenses correctly (vacancy, repairs, cap ex, etc.) I did find a workaround by entering a 0.0001% interest rate which gave a very close approximation of what the numbers should have been.
Hopefully this post will be seen by someone who can fix the calculator and can help others be aware not to use 0.0% interest in the meantime.