Pro-form-inator
Do you guys regulary use this tool? And how literally do you take what it says. For instance:
I have a property i am interested in:
---Duplex
---Rent for 400/mo each side total 800
---asking 50000, am going to try to finance for 55000 to cover closing costs and mininal cosmetic repairs.
---taxes 1970/yr
---owner pays H2O/sewer, 500/yr.
When I use the formula: rent x 7 x 12.
I get $67200
But when I put all of my info into the pro-forminator-program in my tools it tells me that this is an "x" property and i will have to manage carefully.
I am a newbie and am confused. Any help would be appreciated.
Kim
I'm a newbie too but check the Proformantor closely. It's entering certain values by default, i. e. management, and some others. It tells you.
You might have to enter zero, or one, in some boxes in order to make sure it overlooks it's own default.
That'll change what you're getting.