Setting upaccounts business financial for Flipping homes

[Matthew Metros]

How do I set up business accounts for flipping homes? I am 25 and only have my personal chase account.

Looking for advice on how to setup my business for long term success.

[Don Petrasek]

Yes you should have a separate bank account and credit card for real estate even if you don’t incorporate. If you don’t have a separate account, you’ll spend a lot of unnecessary time sorting transactions and deciding whether they are personal, consulting or real estate related.  Also get a simple expense mgmt app that you can download all of your transactions into.  I use Hurdlr because it auto tracks my mileage and generates a schedule C for you at any time, but there are other apps just as good.