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Updated over 8 years ago on . Most recent reply

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10
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3
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Tyler Caruso
  • Randallstown, MD
3
Votes |
10
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How do you do your banking?

Tyler Caruso
  • Randallstown, MD
Posted

I'm curious to know how you do your banking with multiple properties. Currently I have 1 rental and am aggressively viewing others to purchase. I have a seperate bank account (no LLC) in which I deposit and pay all things associated with my 1 rental. Once I move to 2 and then 20 and then 200, how do you do your banking?

I don't think it makes sense to have 1 account for each property. I would imagine you have 1 account for all properties and manage just 1 account and use quick books or some other kind of accounting software techniques. Just asking in case there are different pros and cons to various banking strategies before I move into multiple rental world.

Thanks! Great website!

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