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Updated over 9 years ago on . Most recent reply

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.

Most Popular Reply

User Stats

5,028
Posts
2,573
Votes
Curt Davis
  • Flipper/Rehabber
  • Memphis, TN
2,573
Votes |
5,028
Posts
Curt Davis
  • Flipper/Rehabber
  • Memphis, TN
Replied

Not sure if you even need an LLC for anything personally.

  • Curt Davis

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