Business Bank Account and Credit Card

[Garrett Whitlock]

Hello BiggerPockets!

I'm currently looking at properties to house hack as I start my journey into real estate investing. Because I am just starting out I want to be proactive and lay a good foundation that makes it easy to scale up in the future. 

I'm interested in learning if you guys set up a business credit card and a business bank account when not using a LLC. I don't see much of a reason to have a LLC this early on when I plan on being highly leveraged with a FHA loan on a single property (duplex). However, in the future I anticipate that will change and the benefits of having an LLC will be great.

I feel like these financial accounts will make it much easier to track income and expenses especially come tax time. I look forward to hearing your thoughts and experiences.

Thanks!

[Markus Shobe]

Try to keep it simple. I would suggest just having one bank account and one credit cards for your portfolio. It doesn't matter if you have an LLC or not. You just want to track your business transactions separately than personal.