Separate Bank Accounts Per Property

[Nicholaos Koufoudakis]

HI all, I had a question about bank accounts and what is the best way to manage this. I have chosen to go the LLC route for each property and was told the safe bet is to open a separate bank account per property to manage expenses/transactions etc.... Does anyone have any other suggestions? Though I am early on in my real estate investing with just a handful of properties right now when the day comes and I am at 10, 20, 30.... having that many different checking accounts seems a bit ridiculous. With that being said, if that is the safe route and best way to go about things I am all for it, but I wanted to reach out and see what others are doing when setting up and LLC per property and how they are handling their banking. Thank all.

[Terrell Garren]

24 SFHs, 1 LLC, 1 checking account, 1 spreadsheet, apartments.com, 1 old pickup, 1 cell phone, 50 trusted professionals and contractors.