BRRRR Down Payment Question/BRRRR Calculator Help
REI Newbie Alert!
If I'm buying a house for $103K that needs $25K rehab costs (estimated ARV is $180K) and I have $60K cash to put towards the purchase, that means I need to get a $68K Hard Money Loan. So my question is this, in the BRRRR calculator, in the Purchase Loan Details (2nd Tab - Purchase Info), I click on the Actual Value and in the 'Enter Loan Amount' do I only put $68K since I'm putting $60K of my own money towards the deal?
It seems obvious as I type it but I'm just wanting to be clear and could use all the help I can get.
Thank you for your help in advance!