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Updated over 3 years ago, 10/03/2021

User Stats

37
Posts
26
Votes
Joshua Sun
Pro Member
  • New to Real Estate
  • Brooklyn, NY
26
Votes |
37
Posts

Should one open up a business bank account before starting out?

Joshua Sun
Pro Member
  • New to Real Estate
  • Brooklyn, NY
Posted

My girlfriend and I have been saving to buy our first investment property. 

Should we talk to a bank to open up a business account? I hear it will be easier for CPA / Taxes later on if all expense from purchase, rehabs, repairs, etc are all under one bank account? 

I guess it will be a good place to collect rent as well. 

If anyone has any other advice considering where the money enters and exits, please let me know. 

Thanks!

  • Joshua Sun
  • Loading replies...