Updated over 9 years ago on . Most recent reply
Need help understanding calculators
I am looking at a property in my area that is a rehab that we may want to either flip or take on as a rental. I have tried the bigger pockets calculators and I don't seem to understand how they work.
Can anyone provide advice on the rental one. The property in question is let's say $175,000 purchase price, needs $30K in rehab. I am getting hard money to buy it and plan on then refi-ing in 6 months, how do I use the calculator properly to reflect the hard money and then the refi to analyze the deal? Also once the calculator spits out the results, what number do I look at to determine if it is a good deal or not?
Trying to analyze deal to place offer this week so any comments will be greatly appreciated!