A deal calculator that picks a side.
The Ledger is a tailored real estate investment calculator — rentals, flips, BRRRR, wholesale, mortgages, and rent-vs-sell, all in one tool. Every number recalculates live, and every deal ends with an honest verdict stamped across it.
Spreadsheets don't tell you to walk away.
Most investors evaluate deals in scattered spreadsheets — one for rentals, another for flips, a third someone half-built for BRRRR. Formulas break, assumptions get buried in cells nobody remembers editing, and there's no single moment where the deal actually says whether it's worth pursuing.
A good deal and a bad one can look nearly identical in a spreadsheet if you're not the one who built it — the numbers are there, but the verdict isn't.
Six deal types, one ledger.
Not a generic calculator with extra tabs bolted on — each mode is built around how that specific deal type actually gets evaluated.
Purchase price, closing costs, financing terms, and every recurring cost — taxes, insurance, HOA, maintenance, vacancy, management fee — rolled into a monthly cash flow figure that updates as you type.
Rehab cost, holding period, after-repair value, and refinance terms feed straight into cash-left-in-deal and post-refinance cash flow — the two numbers that actually decide if a BRRRR works.
The two decisions that don't fit a standard rental model get their own dedicated logic, instead of being forced through the same formula as everything else.
Every deal ends with a stamp.
Cap rate, cash-on-cash return, and the 1% rule check all calculate live from the line items above them. Once the tally lands, the deal gets marked — plainly, in red or gold ink, no hedging.
Positive cash flow, a cap rate that clears the bar, and a cash-on-cash return that justifies the capital tied up — the deal earns a green light.
Negative monthly cash flow and a cash-on-cash return underwater — the same tool, the same honesty, in the other direction.
A calculator with an opinion.
Saved deals persist across sessions, every mode shares the same clean line-item structure, and the verdict at the bottom means nobody has to reverse-engineer whether a deal is actually good.