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Updated almost 9 years ago on . Most recent reply

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319
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DJ Cummins
  • Rental Property Investor
  • Bethalto, IL
103
Votes |
319
Posts

So...how many bank accounts do you have?

DJ Cummins
  • Rental Property Investor
  • Bethalto, IL
Posted

We are getting ready to buy property number two, and possibly number three in the next couple of months.  My wife feels like we should have a bank account for every single property we own.  I guess that is fine with 2 properties, but down the road, i feel like having 10 accounts for 10 properties will get confusing.  Just looking for some advise, not the account balances. HA.  Thanks all!

Most Popular Reply

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172
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66
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Gloria Mirza
  • Real Estate Agent
  • San Jose, CA
66
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172
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Gloria Mirza
  • Real Estate Agent
  • San Jose, CA
Replied

I have one for long term savings, one for investing in stocks, and one for rental income.  A good option is to use online rent collection software.  I have recently asked my tenants to start using cozy.co.  It's free and would help track rental income on a per door basis.  

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