Hey all, when using the BP BRRRR Calculator to analyze deals: Want to practice using this tool assuming I am using a private money lender who will get paid off after re-financing...what do I put in the purchase loan details?

Practical budgeting and accounting principles must still come into play.

It costs about $50 and they have practice questions and tests on there that are absolutely amazing.

PRACTICE RUNNING THE NUMBERS: Run properties from different neighborhoods, cities, states through either BPs rental calculator or one of your own to get property details such as cap rate and cashflow.

Disclaimer: While I’m an attorney licensed to practice in PA, I’m not your attorney.

That strategy may have the city inspectors direct you differently, you can also tap into their experience and expertise on how to get it done quickly & efficiently, since that is a direct result and common goal all of you would be working toward.Going at it from an ADU perspective, is also a way to help bring affordable housing to the area.

Is this a normal practice?

Plenty of work, but opportunity too if you work it like a business.Remember, most places you will need cash on day of auction.....typically no financing available.....you probably need time....time to attend the auctions....and some real estate experience and expertise to work thru a myriad of problems these properties often have....you have to be resourceful....I can tell you for example I network and interact with plenty of board certified real estate attorney's ....and trying to find one to write a redemption deed....none of them had ever done it....many not sure they wanted to do it. 

They are hard to find in my market, and not as practical as a live in flip.

If you practice and train, it is not so tough.