All Forum Posts by: Sachin Acharya

I am assuming you want to know your monthly repayment amount.

The formula for calculating mortgage rate in Excel is PMT. It throws out a negative number indicating the negative cashflow but you can multiply it by -1 to make it look decent. So, here's recipe to cook a mortgage  (and I'll demonstrate it with an example in a bit)

Ingredients required: 

1. Monthly Interest Rate (annual interest rate divided by 12)

2. Number of Months (number of years times 12)

3. Loan amount

Method:

Take the PMT pan and put the 3 ingredients in it in the order above. Then add some seasoning of negativity by multiply it by -1.

Monthly Repayment Amount = PMT(Monthly_Interest_Rate,Number_of_Months,Loan_Amount)*-1

Example:

Let's say your interest rate is 4.8% per year, which works out to be 0.4% per month. Let's assume that your repayment period is 25 years, that is 300 months. And let's say your loan amount is a million dollars. The formula will look something like this:

Monthly Mortgage Amount = PMT(0.4%,300,1000000)*-1

Monthly Repayment Amount = $ 5,729.97

Hope that helps.

@Tlacaeleltzin Hernandez

Welcome to Bigger Pockets!! 

Like Josh said, listen to the podcasts, also go through the blogs and the forum posts, and you'll start getting a feel of the various things you can do, and the various ways to do them. 

1. There are many types of properties, like single family, multi family, apartments, commercial, etc etc etc... Getting to know them will help you understand what excites YOU the most. 

2. There are many business models, like buy and hold, wholesaling, flipping, and many many more. Again, the contents in BP will be of great help in understanding those and seeing what suits YOUR NEEDS 

3. Figuring out what type of financing can work best for you will also head you in the right direction. 

The above list is in no means complete but may be of help you streamlining the thought process and get you started. 

Good luck!!! 

Hey guys

I am new to real estate investing and I am learning a lot from this community. One way of giving back is to offer you guys what I do best -- Excel

You can call me an Excel nerd. I do Excel programming, create templates, create formulas, etc. For example, I have created an Excel program for backing up my data in a very flexible way.

I know a lot of applications are available to manage your real estate business, but for those of you who are starting or are old school like me, I would love to be of help.

...don't restrict yourself! I can have Excel make coffee for you ;-) (now, that's exaggeration but you get the point)

Hey Blake 

Welcome to the club. I'm as new as you guys. So, I'll leave the expert comments for the experts to do. I just wanted to say I'm amused by your enthusiasm. 

Cheers! 

Check out Dr Dolf De Roos' books... he's awesome

Thanks Morgan 

David, Curt, and Dean, thanks for the inputs. 

Curt, I'm in Dubai. In this market, it appears to me that I need at least 30% to be able to cover the down payment and closing costs. That amounts to at least 120k Dhs considering that 400k as the starting price range.

Having said that, I'm just starting to understand the market. So my numbers may be a bit premature. Please let me know if anyone has any ideas, comments, etc. 

Hey guys 

I'm getting started in the journey that most of you are going already. I currently have a steady decently paying  job, but no cash to invest with. 

My question is, should I... 

a. first put aside money every month and save enough for my first down payment and then start looking for properties 

Or... 

b. Look for a good deal and then figure out how to creatively finance it. 

Thanks 

Sachin Acharya 

Hi there

I just joined BP after listening to some of the podcasts.

I am an Indian living in Dubai. Want to learn about real estate investing and get into commercial real estate, especially small retail shops, in the UAE. First of all, is that a sensible thing to aim at?

I would also like to know if there are other members in this forum from Dubai like me.

Cheers

Sachin Acharya