BRRRR - Buy, Rehab, Rent, Refinance, Repeat
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Updated over 3 years ago,
BRRRR Calculator Question
Hello,
I am purchasing an investment property using the BRRRR method.
The hard money lender with whom I am working is including the rehab costs in the loan. I am having trouble figuring out how to do this in the BRRRR calculator.
Here’s my dilemma:
When I input my estimated repair costs, I don’t see an option to include that as part of the loan.
Under the terms of this bridge loan, I am putting 20% toward the purchase price only. So, I am borrowing 80% of the purchase price and 100% of the rehab.
If I input that I’m paying 20% of the purchase price, the calculator will disregard the borrowed rehab costs and run numbers as if I’m only borrowing for the home purchase.
If I manually add the rehab costs and us the “Enter Loan Amount” feature, the calculator gives me a down payment surplus.
Any help you could provide would be appreciated.
Thanks,
Brian