mkdir PROJECT.git
cd PROJECT.git
git init-db --bare
Then, on the client side:
cd PROJECT
git init
git remote add origin SERVER_PATH
git config branch.master.remote origin
git config branch.master.merge master
git add .
git commit -a -m 'initial commit'
git push origin master
The SERVER_PATH should be like: username@server.address.net:~/path_to_PROJECT.git
And we are done.