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Learning, Sharing, and Teaching => Investor Alley => Topic started by: sdp on June 10, 2013, 05:10:12 PM

Title: rental mortgages in firecalc
Post by: sdp on June 10, 2013, 05:10:12 PM
How do I punch in the mortgages on my rental properties in fire calc and the income I receive?
Title: Re: rental mortgages in firecalc
Post by: arebelspy on June 10, 2013, 05:14:19 PM
How do I punch in the mortgages on my rental properties in fire calc and the income I receive?

Why would you need to?

FIRECalc doesn't have any data on rentals, so it wouldn't mean anything.

I'd just figure out what your net rental income will be and subtract that from your expenses on the first page.

Barring that, you can have the higher expenses (include the rental mortgage), and offset it with extra income on the second tab.

It amounts to the exact same thing.
Title: Re: rental mortgages in firecalc
Post by: sdp on June 10, 2013, 05:39:01 PM
OK!  I was trying to figure out how to get an  off-chart expense item in firecalc that didn't last forever.
Title: Re: rental mortgages in firecalc
Post by: arebelspy on June 10, 2013, 06:23:38 PM
OK!  I was trying to figure out how to get an  off-chart expense item in firecalc that didn't last forever.

Ah, okay.

How about this: reduce your expenses by the net rental income, then add an extra income that starts in the year the mortgage pays off for the amount of the mortgage.

That should accomplish what you want.