Best Way To Manage Finances For First Property

[Jack Perfett]

Hello Bigger Pockets Philadelphia Community! Let me introduce myself. My name is Jack Perfett and will be moving out to Philadelphia for my first job out of college in May. I have been studying any source of real estate information I can get my hands on the past two years and now it's time to put that knowledge into action. My plan to start in the REI world is to house hack a multi family as I think this is the best route to get started.

The one question I have is in terms of managing finances. So when taking the correct percentages our for Capex, Repairs, Vacancy, etc. how do you manage where this money goes? Do you have separate bank accounts for each, or do you place them all in one bank account and then track them on excel or some other finance management software.

I look forward to getting to know some of you as I am always willing to connect and have a chat or grab coffee,

Thank you in advance and wish you all the best!

Jack Perfett

[Joshua Janus]

Make sure to never mix personal finances with the finances of the property. That's the best advice I can offer you.