Updated almost 3 years ago on . Most recent reply
BRRRR - Refinance Help
Hello, I've been using a calculator to analyze deals and when it comes to the refinance portion. I'm able to pull my money out but the PITI with the new mortgage payment ruins my cashflow. Does anyone have any advice on this? I've links my calculator below if you'd like to play around with it and maybe you'll spot the issue. BRRRR Calculator (cells in gray can be edited)
Most Popular Reply
Jordi - I would double check cell Y18, your loan amount. If the ARV is 165k, then at 70% LTV your new loan amount would be closer to $115k. This would decrease your monthly payment and increase your cash flow. However, you'll leave more cash in the deal. Good Luck!