HELOC payments in Rental Calculator
Hi, Using the BP Rental Property Calculator and have a question. I'm planning on getting my downpayment from a HELOC against my primary residence. What's the best place to incorporate this financing into the calculator? Since I'm technically borrowing 100% of the purchase price by taking the down payment from the HELOC (rather than the 75% loan against the subject property) I guess I could indicate 0% downpayment and create some sort of blended rate that represents the new 1st mortgage against the rental property and HELOC payment. This seems a like it opens me up to some errors in return / cap rate and was hoping there was a better way. Anyone know how to do this?