BRRR Calculator Question regarding acquisition cost
Good evening,
Ive got a quick question regarding the acquisition cost section of the BRRR calculator.
Purch Price 75,000
DP 10,000
Loan Amt 65,000
Loans/Points 0
Loan Int Rate 8%
Monthly Int. 433.33
Total Cash needed at purchase 26,000??????
If Im getting a private money loan at 8% and 6 months of payments at 433 = 2,598. This will be paid back at the refi.
The only cash im coming out of pocket for was the 10,000 down payment.
What did I miss that triggered this 26,000 #? Its got to be right in front of my face..lol.