Financial Organization for Multiple Cash Flow Properties

2 Replies

In the future, I’d like to acquire multiple cash flow properties and i am wondering how i would organize and manage the money. If I were to acquire multiple deals, how would I manage the money for each of the deals? Should I have a separate account for each of the different properties? Are there ways to automate the payment process of monthly charges? If the best way is to try to automate and streamline the process, what is the best way to manage the automation to make sure all is going smoothly?

Yes separate bank accounts for each, then some bookkeeping software that tracks it all separately for you. Interview several banks with the same questions, put their answers on a spreadsheet to compare which has the best terms for your business.

@Nate Whitting

Yes, it is always better to manage each property with a separate account. If you are filing Schedule E (Individual tax return) you have to do that anyways. 

Some property management softwares let you connect each bank account with your property. It is easy to manage the financial aspect of your properties.

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