Updated over 8 years ago on . Most recent reply
Organizing cash in-flow
Hello,
I am really enjoying learning here every day. But each day brings more questions. Let's say you have $300 positive cash flow on your only rental. You plan to set aside (totally random numbers) $50 for repair fund, $50 for capital expenses, $50 for lawn mowing etc.
How do you all organize and delineate those monies in your bank accounts? For instance, if I have my personal checking account and a main savings account, do I create several other accounts for real estate income-- one for "repairs", one for "lawnmowing" etc, or do I just put them all in the same account and know the proper amount was saved and is available?