Calculating Breakeven Point - Anyone good with excel/math pls help!
Hey Everyone,
Working on my first house hack and I'm using a spreadsheet someone on the forums was kind enough to give me to project income & expenses. It's been a massive help but the one thing I can't figure out is how to find my breakeven point so that I'm not negative cash flowing right away. Basically what I'm looking for is a formula that tells me what purchase price would get me to net positive based on my other inputs.
I have the monthly amount that I'm losing, so what I believe I need to do is lower the monthly mortgage payment by that amount and then back that out to the purchase price that would get me there. My math skills aren't what they used to be and I might be trying to do wayyy too much here but it seems like it should be more simple.
Here's an example
Mortgage Pmt: 5,435
Monthly Loss: 1,922
Breakeven Mortgage Pmt: 3,512
Mortgage Pmt Formula (In Excel): -PMT(Int Rate/12, Mortgage term * 12, Loan amt)
If anyone is a true excel/math whiz and can give me some help here I would really appreciate it!!!
Not sure how to attach a spreadsheet to this but if someone is willing to help I'd be more than happy to send it over