All Forum Posts by: Brandon Turner

Hey folks - I'm thinking of switching up how I do my checking accounts for my rental properties and I'd love to hear from some of you who have multiple different properties. 

Right now - we run most of the income/expenses for all properties out of one "managing" checking account, and then just designate every expense for the property it's for, thus allowing us to do the bookkeeping from there. 

But I think I might actually just open up one separate checking account for every property, to make things simpler, on paper. 

I have 16 different properties (52 total units) - so I'd open 16 checking accounts and run each one completely separate.  I'll also have one "managing" account still that I'll use occasionally for things like my employees and credit-card things... and I'll just reconcile as needed.  

Am I crazy for planning 16 (well, 17) different checking accounts? 

How do YOU do it? 

(cc: @Ben Leybovich, @Cameron Skinner, @Bill Syrios, @Brie Schmidt, @Anca Alexandru Rader, @Jered Sturm... etc)

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Hey @Bill E. welcome to BiggerPockets! You've definitely come to the right place to learn more about investing. If you haven't yet, be sure to check out the The Ultimate Beginner's Guide to Real Estate Investing and The BiggerPockets Podcast. They are both great at learning the fundamentals.

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Also - here's a couple articles you might enjoy:

The 21 Best Real Estate Investing Books Ever

How to Rent Your House: The Definitive Step by Step Guide

How to Be a Landlord: Ten Tips for Success

Oh - and if you haven't yet- be sure to setup some "Keyword Alerts."

Glad to have you here