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All Forum Posts by: Martin Weiss

Martin Weiss has started 1 posts and replied 1 times.

Post: Spread Sheet numbers

Martin WeissPosted
  • Salem, OR
  • Posts 1
  • Votes 0

I currently own a 4 bd 2 bath 1800sqft ranch style home with $95,000 left on the mortgage. My plan is rent the house for $1600/ mo. I would like to refinance the house for $130,000 and use the $45,000 in equity to purchase a second rental property. I have tried using the rental property calculator, but the 45k completely throws off my numbers. So I am completely at a loss on how to properly calculate the profit/ loss.  Any advice would greatly be appreciated.