Seller Financing and the Rental Property Calculator

Coeur d'Alene, Idaho
General Landlording & Rental Properties
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Seller Financing and the Rental Property Calculator

Emma Hustis
Sandpoint, ID · Member since 2021 · 9 posts · 4 votes

What is the best way to use the Rental Property Calculator when you are planning on putting together a seller financed deal? I feel like you should be able to customize the mortgage section of this calculator but I can't figure out how to adjust my payments to the amount I agreed on with the seller. 

What am I missing? 

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  • Nicholas L.Pro Member
    Flipper/Rehabber · Pittsburgh · Member since 2018 · 6k+ posts · 5k+ votes
    3y

    @Emma Hustis

    well, they're separate - you'd negotiate the price and terms with the seller, and now that's your mortgage payment (principal and interest, or P&I)

    then, you plug that mortgage payment in, as an expense

    so, use a mortgage calculator first to generate the monthly payment, based on the seller financing terms

    hope this helps

    0Reply
  • Jessie Russell
    Real Estate Agent · Member since 2023 · 18 posts · 1 vote
    3y

    Hi Emma!  I have a seller finance/subject to calculator that I am happy to share with you via email.

    0Reply
  • Juan Barros
    Investor · South Eastern Pennsylvania · Member since 2023 · 17 posts · 7 votes
    3y
    Quote from @Jessie Russell:

    Hi Emma!  I have a seller finance/subject to calculator that I am happy to share with you via email.


     Hi Jessie would I be able to get that too?

    0Reply
  • Emma Hustis
    OP
    Sandpoint, ID · Member since 2021 · 9 posts · 4 votes
    2y
    Quote from @Nicholas L.:

    @Emma Hustis

    well, they're separate - you'd negotiate the price and terms with the seller, and now that's your mortgage payment (principal and interest, or P&I)

    then, you plug that mortgage payment in, as an expense

    so, use a mortgage calculator first to generate the monthly payment, based on the seller financing terms

    hope this helps


     Right- I understand that. But I can't figure out how to manually enter a Mortgage payment amount. Bigger pockets wants to ask me loan details and come up with the mortgage payment. I want to put in my own custom mortgage payment. 

    0Reply
  • Nicholas L.Pro Member
    Flipper/Rehabber · Pittsburgh · Member since 2018 · 6k+ posts · 5k+ votes
    2y

    I'd just use your own spreadsheet

    Happy to help, feel free to PM me

    0Reply
  • Zeus Kang
    Member since 2019 · 7 posts · 2 votes
    2y

    Is there a good website for where you can input the terms to track the loan? Asking as a seller to keep track of payments, loan balance etc. 

    0Reply
  • Emma Hustis
    OP
    Sandpoint, ID · Member since 2021 · 9 posts · 4 votes
    2y

    @Zeus Kang If you're going to a transaction on seller financing you should go through a long term escrow company. They will keep track of that for you and can provide statements. 

    0Reply
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