Log new acquisitions, refinances, and property sales in Stessa to track your full investment lifecycle and get better performance reports. Once everything’s in place, you can even calculate IRR in Excel.
Just be sure to check with your CPA before expensing the champagne!
Set Up Your Acquisition Details
To track a new property purchase, first add the property to your Stessa account. Then follow these steps.
Step 1: Enter the Purchase Price
Open the property from the Properties page.
Under Acquisition details, click into the Price field.
Enter the actual contract purchase price only (exclude closing costs).
Save the details.
Step 2: Record the Transaction
Go to your Transactions page and click + Add.
Enter the same contract purchase price.
Set the category to Capital Expenses > New Acquisitions.
Use the Name field to label the property (e.g., *** 123 Main St Acquisition ***).
Set the Date Placed in Service and Useful Life (typically 27.5 years).
This keeps your Dashboard, reports, Net Cash Flow, and tax summaries accurate.
Track Closing Costs Separately
Log closing costs as individual transactions using:
Capital Expenses > Closing Costs
Capital Expenses > Loan Costs
This helps you reconcile settlement statements and supports better tax categorization. Some costs may be capitalized, while others may be deductible. Always check with your CPA.
Track Mortgages & Loans
Step 1: Enter Mortgage Details
From the Properties page, click the property and select Financials & Assets.
Click Add on the Mortgage card.
Connect the mortgage account or add the details manually. When adding manually, include the original loan amount and the current principal balance.
Step 2: Record the Funding
Go to your Transactions page and click + Add.
Record the original funding as a Money In transaction.
Set the category to Mortgages & Loans > Proceeds & Payoffs.
Label the transaction with the lender’s name or a unique tag.
Track Refinances
Refinances typically involve paying off the old loan, funding a new loan, and incurring new loan costs.
Steps to Record a Refinance
Add a new mortgage in the property’s Financials & Assets section.
Delete the old mortgage once it's been paid off.
On the Transactions page:
Log the payoff as a Money Out transaction under Mortgages & Loans > Proceeds & Payoffs.
Log the new loan as a Money In transaction in the same category.
Add any new loan costs separately under Capital Expenses > Loan Costs.
These transactions appear in your Net Cash Flow report under Purchase, Sale, & Refinance.
Extra Credit: Calculate IRR in Excel
Once your purchase and refinance transactions are in place:
Run a Net Cash Flow report using a Custom date range that covers your full hold period.
Export the data.
Use Excel’s XIRR function on your monthly Net Cash Flow to calculate your internal rate of return.
Use XIRR, not IRR, because you’re working with monthly (or irregular) time intervals.
Questions?
Please direct all accounting questions to your CPA.