Flip Calculator Results

10 Replies

I entered an example flip into my own calculator and into the bigger pockets to compare.   Unfortunately, the bigger pockets calculator shows a number about $5,000 higher than my spreadsheet (25% higher), with the same input numbers and I cannot figure out why, and its driving me nuts.   I am sure my spreadsheet is correct as I can see all the numbers and calculations.    I also think the bigger pockets calculator is right after being reviewed and used by so many people.   So I would guess I must not be understanding something or entering in data incorrectly.    I made screen shots of everything, but don't see a way to attach a file so I will just enter what I can.    Can anybody figure out how the BP spreadsheet is calculating the profit with the numbers I entered?

Thanks --  Jason

Well the loan fee vs. loand points and fees has a big delta.

Upload the file to google docs, share the link, and I'd be happy to poke through excel and show the differences.

John D., Palm Vacation Rentals | [email protected] | 4155195039

@John D.

Yes, I spent a lot of time trying to figure how the $9500 was generated reported under loan points and fee's.  I figured it was a combination of closing ($4,500) and (load fees 4%*120K = $4,800) but those numbers add to $9,300 instead of $9,500.  

The spreadsheet I added to Google Doc includes the screenshots from the BP flip calculator.   Towards the top of the sheet is the screenshot of the results and as your scroll down are the numbers in the input screen.

https://drive.google.com/open?id=0B2N3VaIr5Hd8NDRkVUxIS3k4MGc&authuser=0

Let me know if the link does not work 

I have found that the BP flip calculator was wrong when I used it. On one of the deals I am working on now it has me getting $3000 back when instead its more like $20000 coming back to me when you use a traditional calculator. I found that the BP calculator was adding the down payment into the purchase price. 

Thanks for responding, its good to know that my flip spreadsheet is probably correct..   I was going on the premise that that the number crunching investors at BP, over time would have worked out all the bugs within the BP sponsored spreadsheet(s), and there was better chance I was wrong with my calculations than BP.  So, it was driving me crazy not being able to reconcile the differences between the two results.

I doubt BP is going to fix the problems with the calcs either so I would not hold my breath that they will be correct anytime soon. For using cals as an added feature for a Pro upgrade I would think that they would be working and not flawed. 

Originally posted by @Account Closed :

I doubt BP is going to fix the problems with the calcs either so I would not hold my breath that they will be correct anytime soon. For using cals as an added feature for a Pro upgrade I would think that they would be working and not flawed. 

 Why would you doubt they would fix it?  Have you reported the problem?

Originally posted by @J Scott:
Originally posted by @Chris Sciolino:

I doubt BP is going to fix the problems with the calcs either so I would not hold my breath that they will be correct anytime soon. For using cals as an added feature for a Pro upgrade I would think that they would be working and not flawed. 

 Why would you doubt they would fix it?  Have you reported the problem?

 @J Scott ,

  I did report it and the answer I got is the reason I have doubt they will fix it. And its apparent that I am not the only one with issue with the calcs if you look at other posts about it.

Hey @Jason Genovese  So sorry we didn't see this message earlier! Yeah, looks like you discovered the same bug that @Account Closed  we definitely try to fix every issue when they come up, and have 2 people working most of their time on improving the calculators so it's definitely one of our highest priorities. I just sent you a message on the back end, but I believe your issue has been fixed since about an hour after you sent in the bug report. Let me know, of course, if you see anything different but I believe it's working 100% right now! 

Sorry for the trouble guys!

Medium fbprofileBrandon Turner, BiggerPockets | http://www.BiggerPockets.com | Podcast Guest on Show #92

Thanks all who helped and commented.   @Brandon Turner  I will definitely run the BP through some example calculations again to see if anything looks out of order (it could of been just me!), and report back.  @Steve Babiak  , sorry about the link not being available to the public, I guess I was having a bad luck with technology that week.  

Jason