Skip to content
×
PRO
Pro Members Get Full Access!
Get off the sidelines and take action in real estate investing with BiggerPockets Pro. Our comprehensive suite of tools and resources minimize mistakes, support informed decisions, and propel you to success.
Advanced networking features
Market and Deal Finder tools
Property analysis calculators
Landlord Command Center
$0
TODAY
$69.00/month when billed monthly.
$32.50/month when billed annually.
7 day free trial. Cancel anytime
Already a Pro Member? Sign in here

Join Over 3 Million Real Estate Investors

Create a free BiggerPockets account to comment, participate, and connect with over 3 million real estate investors.
Use your real name
By signing up, you indicate that you agree to the BiggerPockets Terms & Conditions.
The community here is like my own little personal real estate army that I can depend upon to help me through ANY problems I come across.
Goals, Business Plans & Entities
All Forum Categories
Followed Discussions
Followed Categories
Followed People
Followed Locations
Market News & Data
General Info
Real Estate Strategies
Landlording & Rental Properties
Real Estate Professionals
Financial, Tax, & Legal
Real Estate Classifieds
Reviews & Feedback

Updated about 9 years ago,

User Stats

33
Posts
6
Votes
Chad S.
  • Email Marketer
  • Chicago, IL
6
Votes |
33
Posts

Should I use my current LLC or Start a new one?

Chad S.
  • Email Marketer
  • Chicago, IL
Posted

I just bought my first property and will be closing next week. I currently have an LLC here in IL that I gave a vague name to and planned on using it to make consulting money. Now, I don't do any consulting any more and only use that LLC for my Amazon Associates affiliate website. Which is basically a zero liability 'business' where I send people to amazon and get a small % of their revenue. I really don't need an LLC for it. Could I just create a DBA for my REI company?
A 2nd question I have is about organizing bank accounts. My LLC has a Chase business account/credit card, and my personal bank is Ally. Could I create a new checking/savings accounts under Chase or Ally for my REI business? I really like the 1% interest I get with Ally checking and would like to utilize that to store excess rental income.

Loading replies...