creating a bank account for a house hack

[Ralph Patulot]

Hi guys! im planning on buying my first property as a house hack . 

is it advisable to open a new bank account prior to buying the property or wait after the purchase?

i know some say that you should seperate all transactions from your name and create a seperate bank account for your property. 

thanks! 

[Greg Kasmer]

Ralph - I don't think it matters too much when you open the account. However, I would be sure to open an account on how you will be owning the property. For example, if it's own in an LLC, open an bank account in the name of the LLC. If the property is in your name, open the account your name. I would suggest you open a bank account a few days before closing - it doesn't take long and my guess is that after closing you'll be busy with the property and will be glad to you got that off your "To Do" list. Good luck!