How to calculate two loans on same property
Hi all! I'm trying to use the BP calculator for Flipping and for Renting and only have 3 uses left. I am looking to purchase a 4 unit house, in foreclosure and was planning on offering 30,000 for it. However it needs a lot of work and I was going to get a private money loan to cover the rehab costs and a separate loan to purchase the house. I have about 10k to put down, so that would make the 30k purchase price a 20k total loan amount, and then and 80k loan for rehab costs. Since I am not living in the property I won't qualify for a 203k loan. Is there a way to calculate two loans in the BP calculators? I can't total the loans and do a loan for 100k in the calculator because they will both have different terms. Thanks for the help