How to run financials after cash out refi is done?

Question

Hi all,

We completed our first BRRRR in 2023 and are working on our 2nd cash out refi as we speak. I'm curious if anyone has suggestions on how to run a financial report after the cash out is complete to see exactly how much you have in a project? I may be overthinking it but with using the same account for multiple projects I'm getting a little confused. I keep track of everything in quickbooks. We are also utilizing a HELOC and HML to finance our projects. Any suggestions would be appreciated! Thank you.

Robin Simon · Answer

You want to map out your purchase price + all your renovation costs + all of your interest costs paid (if you financed purchase/rehab with hard money) and then any closing costs for the refi and the initial loan. Those are probably all the major costs to account for

Anthony Freeman · Answer

I would recommend using checks for your contractors with the purpose and address of the property on it. I would also title a folder with each specific address and fill it with receipt pictures for bookkeeping and taxes. I hope this helps

How to run financials after cash out refi is done?

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