Skip to content
×
PRO
Pro Members Get Full Access!
Get off the sidelines and take action in real estate investing with BiggerPockets Pro. Our comprehensive suite of tools and resources minimize mistakes, support informed decisions, and propel you to success.
Advanced networking features
Market and Deal Finder tools
Property analysis calculators
Landlord Command Center
$0
TODAY
$69.00/month when billed monthly.
$32.50/month when billed annually.
7 day free trial. Cancel anytime
Already a Pro Member? Sign in here

Join Over 3 Million Real Estate Investors

Create a free BiggerPockets account to comment, participate, and connect with over 3 million real estate investors.
Use your real name
By signing up, you indicate that you agree to the BiggerPockets Terms & Conditions.
The community here is like my own little personal real estate army that I can depend upon to help me through ANY problems I come across.
Rehabbing & House Flipping
All Forum Categories
Followed Discussions
Followed Categories
Followed People
Followed Locations
Market News & Data
General Info
Real Estate Strategies
Landlording & Rental Properties
Real Estate Professionals
Financial, Tax, & Legal
Real Estate Classifieds
Reviews & Feedback

Updated almost 2 years ago,

User Stats

3
Posts
1
Votes
Rab Thomas
1
Votes |
3
Posts

HELP NEEDED - Starting out & Stuck on Financial Documentation

Rab Thomas
Posted

Hello, I am new to Bigger Pockets.  I am also new to Real Estate Investing with Fix & Flips.  I do not have any money to pay someone to do the accounting just yet as just starting and I am in need of your assistance.  I eventually plan to outsource this function.  

As for now, where do I record the property purchase and all the rehab fees associated with that property on a balance sheet?  Should these all be regarded as asset particularly inventory?  

Also, I used my savings towards the fixing and purchase of the property however I would like to regard this as a loan because I will need the money back in 12 months.  How do I record this on the balance sheet?  I understand equity is not something you necessarily get back?

Last but not least, is there by chance someone I can speak to pro bono for help with getting this set up please?  I am a quick learner.  

Loading replies...