I am new here… Looking for some help to setup
I bought SF property from a whole saler using hard money. For ex, my purchase price is $98,000. Closing cost $7,000. I spent $21,000 in rehabbing this for 2 months; holding cost $1,500. The LTV on hard money is 75%. Then refinanced into Conv mortgage and moved in a tenant. In the whole process my net out of pocket is $21,000 for the property with ARV of $164,000… which leaves me with cap gain of about 100% (with 75% LTV on Conv, my down payment should be 41,000 where as my out of pocket was 21,000 only)
If I have to set up the whole expenses for the above, how do you do it? what transaction codes do you use?
I tried with a one time Transfer > Owner contribution for my out of pocket… This is not bringing the correct numbers to the dash board.