How to Use the Advanced Calculator?
How to Use the Advanced Calculator in REsimpli?
Step by Step Guide:
Step-by-step instructions for using the advanced calculator in REsimpli:
- Login to your REsimpli account.
- Navigate to the lead you want to analyze.
- Click on the “Calculator” tab.
- Click on the “Advanced Calculator” option.
- Enter the resale price after fixer, which is the estimated after repair value of the property.
- Enter the minimum required profit, which is the profit you want the end investor to make.
- Enter the wholesale profit fee, which is the amount of money you want to make on the property.
- Enter the estimated repair cost of the property.
- Enter the project duration, which is the estimated time it will take to complete the project.
- Choose between cash or financing for the deal.
- If you choose financing, enter the loan amount and lender points, interest rate, and purchase closing cost.
- Enter the monthly holding cost for the property, including property taxes, electricity, gas, water, garbage, property insurance, and lawn care.
- If you plan to sell the property, enter the closing cost and credit to the buyer.
- Review the financial summary of the property, including purchase price, purchase closing costs, holding costs, repair cost, and lender cost.
- Determine the net profit, which includes the minimum wholesale profit, required profit for the end investor, and any additional profit.
- Determine the maximum purchase price, which is the amount you should pay for the property.
- If you plan to wholesale the property, determine the selling price, which is the maximum purchase price plus your wholesale profit.
- Use the information to make an informed decision on whether to buy or wholesale the property.
- If you have any questions or issues with the advanced calculator, send an email to email@example.com