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Updated over 10 years ago on . Most recent reply

User Stats

211
Posts
129
Votes
Kyle Grimm
  • Investor
  • St. Louis Mo
129
Votes |
211
Posts

Please Help! How many bank accounts do I need? How many do you have?

Kyle Grimm
  • Investor
  • St. Louis Mo
Posted

I am curious to know how many bank accounts some of you more experienced landlords have?  I know there are some beginners who will open up a new checking account for each property they buy.  But beings my goals are set a little higher than a handful of properties, this doesn't seem realistic. 

How is the best way to structure my business?  Should I just dump all rents into the same checking account that I pull out of for expenses such as rehab and maintenance to my properties?  I will be using a program called Buildium to manage my properties but before I can set it up I need to figure my structure out.  Any advice would be appreciated!   

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