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How do I use Rent Calculator here for cashout refi?
Hello friends !
So I am having difficulty inputting numbers on various spread sheets due to the fact that I purchased this property with cash, put cash into it, and and refinancing to get cash out. The tool on this website is confusing since I did it this way (paying cash first)
I bought for 91,000
Put 13,000
Total 104,000
Appraisal 238,000
I am taking 75% at 3.8 so thats 172,000
When using the calculator what do I put for purchase price, ARV, then what do I put In the finance assumption for % downpayment of purchase price?
my goal is to find out how much cash flow I will have if I take the full 75% of appraised value. This is different since I paid cash first and am confused . THANKS!
I also have a spread she where there are cost and rev assumptions and knowing the numbers above what do I put for land. building, repairs? then for financing assumptions total purchase %, owners equity %.......(this is my own spread sheet but I don't know how to input that im taking 172K out in cash and I only paid 104,000 ?)