My HELOC is through the same bank as my mortgage but it did not auto-import? Should I manually import the HELOC? I saw that a mortgage can be manually imported, but I don’t know what to fill in for the rate as it is a variable rate.
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Literally had the exact same question. My HELOC did import but I’m curious if I can link it to a property so the equity is accurate and it updates automatically? I’m using it a bit like a checking account so the accounting gets a bit confusing. I’m essentially spending from one property to pay for another but using the “transfer” category seems to help with not double counting. Since I’m new to real estate I also have a personal checking account that I make “owner contributions” with to pay down the HELOC which leads to a bit more confusion but again, using “transfer” properly seems to work.
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I need the same thing. Attaching a HELOC to a property to measure the equity, instead of it being a “freestanding” debt that is treated like a credit card.
Thoughts?
If your HELOC account is not available through a linked bank connection, the next best option is to simply add it as a Loan via the Property Details page. You’ll then need to update the balance and rate manually from time to time for accuracy.
More info about manual mortgage and loan set up can be found in Mortgages & Loans: Add & Edit
Hmm linking this in the data sources page seemed to work fine. Not sure why I didn’t do this before.
Good. Glad to hear you’re all set here!