Managing / Organizing Finances for Flipping Business
Hi All,
I was hoping to get some perspective on how you have organized your businesses finances primarily when it comes to running a fix & flip business.
Generally I'm wondering what account types I should have, and what their purpose should be. For example, should I have one checking account that manages all expenses, such as down payments for properties and serving as the main source for rehab budgets?
Should I open a separate HYSA or similar vehicle to park additional cash reserves and or taxes set aside from prior projects?
Credit cards - store specific, general business expenses, etc.
Any POV you have on what has worked for you would be great!