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 over 12 years ago,

User Stats

4
Posts
0
Votes
Jason Elbers
  • Investor
  • San Diego, CA
0
Votes |
4
Posts

Flippers organizing bank accounts

Jason Elbers
  • Investor
  • San Diego, CA
Posted

Flippers, what's the best way to organize your bank accounts?
I have a personal account and an LLC business account.
Currently, I keep the bulk of my money in my personal account and transfer funds as needed to my LLC account. My LLC account has a "main" account for business expenses and a sub-account for each project I am working on. As projects finish, their sub-account closes. When a new project starts, a new sub-account is opened.
Would be easier to keep my personal account out of it and keep all available funds in the LLC "main" account. Especially for moving funds in and out of sub-accounts....and for providing Proof of Funds in the LLC name.
There are also some liability issues with keeping all my funds in the same LLC account, right? Is my cash "safer" the way I currently operate (in my personal account)? Not planning on ever being sued, but what if?
How do you guys organize multiple projects within your bank accounts?
Thanks in advance...

Loading replies...