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Updated almost 5 years ago on . Most recent reply

User Stats

30
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13
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Jason M.
  • Investor
  • Centennial
13
Votes |
30
Posts

Real Estate Accounts

Jason M.
  • Investor
  • Centennial
Posted

I'm curious if most of you have separate checking and savings accounts for each property or just a separate account for your personal finances and one for all of your real estate? Do you use CDs for your security deposits and emergency reserves? Are their any banks that are better than others for business accounts? (I currently have access to USAA, Navy FCU, and several local Colorado Credit Unions.) 

I was also curious if anyone is using dedicated real estate credit cards and how?

Most Popular Reply

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3,019
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2,321
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Will Fraser
  • Real Estate Broker
  • Salt Lake City & Oklahoma City
2,321
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3,019
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Will Fraser
  • Real Estate Broker
  • Salt Lake City & Oklahoma City
Replied

HI @Jason M., I do not use separate accounts for my properties, but rather use a joint account for them and track income and expenses on a property-by-property basis.

I find it useful to use a credit card dedicated to real estate and one for other business.  It's cleaner on the accounting side of things.

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