Updated about 2 years ago on . Most recent reply
Calculating for hard money loans in BP Calculators
Hey everyone, I am having a hard time figuring out how house the BP calculators to account for the intricacies of har money loans. I want to be able to account for the cost of financing in the total deal to make sure it all works out. Does anyone have good tips on how to enter those numbers? For instance: A duplex that make 1900/month; costs of 150,000; needs 15000 in work; refi after 6 moths to conventional loan. Hard money terms are 9%; 2 points up front; payable in 8 months. Any thoughts? thanks everyone!