Yesterday on my weekly coaching call for NAREE Platinum Members I was asked where to find a loan amortization schedule tool. Here are 4 excel spreadsheets that I use plus one great tool available for purchase:
1) Loan_Am_PI creates amortization schedules on loans with both principal and interest payments. Provide to private investors and contract buyers you finance. It can also be used to create a schedule on bank loans you take over “subject to.”
2) Loan_NoPmts_Compounded creates a pay off schedule on loans that accrue and compound with no payments. Use with private lenders or on notes you take back.
3) Loan_NoPmts_Simple creates a pay off schedule on loans that accrue with simple interest and no payments. Use this instead of above tool if interest will not compound.
4) Loan_No_Interest_Pmts creates a pay off schedule on seller carry back notes at 0% interest. Give to sellers at closing when your payments to them are principal only, as we always do using The Ultimate Strategy investing system.
5) The number one tool I use in my business is the Ultimate Profit Generator. It has built in amortization functions for projecting and calculating:
- Income and amortization on a buyer’s PITI payment to you
- Payment and pay down on private money used to fund deals
- Pay down and amortization on loans you take over subject to
- Pay down on seller carry back notes at 0% interest
If you do not own the Ultimate Profit Generator, ask about ways to get it for free with purchase or with new NAREE enrollment.