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Updated about 4 years ago on . Most recent reply

User Stats

21
Posts
6
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Gregory R Ley
  • Minnesota
6
Votes |
21
Posts

Best Small Business Checkbook Accounts - Newbie Question

Gregory R Ley
  • Minnesota
Posted

I plan to open a checkbook account for each property. Please advise best banks for this. Per web search recommendations: Chase, BlueVine, LendingClub, novo, nbkc bank.

This is my first BP post. I close on my first property tomorrow. It a 4 plex. Things need fixing. I want to manage finances through a dedicated checking account.

I could not find a similar posted question on BP forum. It may be out there.

  • Gregory R Ley
  • Most Popular Reply

    User Stats

    246
    Posts
    133
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    Markus Shobe
    • Accountant
    • Indianapolis, IN
    133
    Votes |
    246
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    Markus Shobe
    • Accountant
    • Indianapolis, IN
    Replied

    @Gregory R Ley You do not need a bank account for each property. I have seen some RE investors do it that way but it is not required. The most important thing will be how will you track revenues and expenses by property. 

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