Updated over 4 years ago on . Most recent reply
Questions about bank account for house-hack
Hi there, I'm brand-new to all of this! I have what will be my first house under contract, set to close in a few weeks! I've been reading Heather and Brandon Turner's The Book on Managing Rental Property. In the book they say that starting an LLC is not really necessary, but then go on to say that it's best to open up a business bank account for your property. I'm confused. Is it possible to get a business account without an LLC? I don't really want an LLC if I don't need one. What is the benefit to having a business account versus a separate personal account for the property? Thanks!