I’m trying to setup a new property. I had enough value in this property at close that I was able to finance an additional $15K with my lender to do some necessary rehab.
How should I document that $15K cash in? It really isn’t a “Owner Contribution” – that will affect my CoC. I gave the bank $8K at closing and they gave me back a check for $15K…
I wish every deal were like this, but it sure makes my bookkeeping and calculations more interesting.