Considering buying your next rental property but unsure if it will be a profitable investment? BiggerPockets, known for their online forums and real estate investing tips, has a “Rental Property Calculator” that enables you to input a variety of information on a particular house and calculate your return on investment over time.
“BiggerPockets Real Estate Investment Calculators are designed to help you quickly and efficiently analyze a potential real estate investment for profitability,” BiggerPockets.com said. “We believe that a good investment begins with a solid plan built upon solid math.”
The Rental Property Calculator allows investors to determine the profitability of a potential rental property, including unseen expenses. Once the report is complete, you can create printable PDFs to keep for reference or share with partners or interested parties. The idea is that by doing the math before you buy a property, you have a better chance of making a good choice on whether or not to invest.
The tool is free to try for the first six reports. After the trial period, you have to sign up on BiggerPockets as a Plus or Pro member to use the tool.