All Forum Posts by: Darryl David

@Angelo Llamas I do like to have separate accounts for each building. I can see how if you had dozens of properties this would become too difficult.

I pay the mortgage out of the individual accounts as well as the bills. I deposit the rents in each account. Each month there’s not likely to be more than 5-6 transactions per account which makes things fairly easy.

I also have 2 separate business credit cards. One that I use and one that my contractor uses. Before anyone gets their feathers ruffled I’ve worked with him for about 22 years. I wouldn’t just give a credit card to every contractor I use. It was getting too difficult chasing him around to different stores and paying the bills for things he bought. Now he tells me if he spends more than $200 and I check the bill every night online.

@Angelo Llamas I do like to have separate accounts for each building. I can see how if you had dozens of properties this would become too difficult.

I pay the mortgage out of the individual accounts as well as the bills. I deposit the rents in each account. Each month there’s not likely to be more than 5-6 transactions per account which makes things fairly easy.

I also have 2 separate business credit cards. One that I use and one that my contractor uses. Before anyone gets their feathers ruffled I’ve worked with him for about 22 years. I wouldn’t just give a credit card to every contractor I use. It was getting too difficult chasing him around to different stores and paying the bills for things he bought. Now he tells me if he spends more than $200 and I check the bill every night online.