COUPLE ISSUES WITH BIGGER POCKETS CALCULATOR

3 Replies

These calcs are extremely amazing tools, but i have found that it does not have (or i do not know where to input) certain expenses or income.

1. If I am using a hard money lender I will be using "All Cash" but the Calc Does not offer an option for points if you pay cash, ONLY if you are financing. 

2. If you have other income that is not Monthly income there does not seem to be a place to put that either. Only complete income number is for rent, but if I have a one time payment or something that is not recurring how do i add that in, or are you saying that is something i should not add into the equation.

1. Hard money requires point + interest and it's financed. Unless you have a strange deal with no payments for X months. That's why the calculator doesn't seem like it's working for what you're trying to do. All cash is for buyers that have the purchase price in their own cash at hand.

2. Income like fees that are one time only are generally not in the overall return calculation. For those pocket cases it's probably better to understand and build a model that reflects what you're trying to do.

@Tom Arena If im not mistake (and i very well can be) the HML pay the money cash up front and i deal with points and interest on the back end. The Only calculator that allows for any points is BRR and that does not allow for points if its payed Cash (HML) only for a regular mortgage lender with up to 50% down.

On fix and flip calculator It does not go into as much detail as BRRR. It does not help me figure out holding cost depending on how im acquiring the house.

BRRRR calc gives most info, but then it's limited because if im selling and not refinancing its not as useful. I also don't like that if I pay cash (hard money) it wont calculate any points or interest.

Don't think of HML as a 'cash buy' from your perspective. From the seller's side, you using financing that's not appraisal dependent and having the your own cash to buy is the same thing. From YOUR side though those are two very different things. The HML will come with points and payments while buying a property with cash you just had laying around would not generate any extra cost.

Did that make it clearer? I'm not sure I wrote it well.