Just a thought because I am in the process of doing this on a deal, but would it be possible to add a "Seller Concession Percentage" line somewhere in the Rental Property Calculator?
I'm buying a house with a price of $174,000, but I'm using a 6% seller concession so really my purchase price is $184,400, and my "Cash Needed" will be off at the final calculation because I'll be receiving that 6% back from the seller to offset my closing costs. Of course I can account for this on my own by not entering an amount for closing costs, but I think it could be a handy feature. Not to mention seller concessions can be a great tool for someone just getting started who doesn't have the down payment AND closing costs; I bet a lot of new investors don't even know about it.
I think that is a pretty solid idea, @Mark Smith . I'd use it.
@Mindy Jensen maybe you can direct this to the right person, I wasn't sure if there was any sort of official BP suggestion box!
Thanks for the suggestion, @Mark Smith . I'll share this with our developers.
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