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Updated almost 10 years ago,
Please Help! How many bank accounts do I need? How many do you have?
I am curious to know how many bank accounts some of you more experienced landlords have? I know there are some beginners who will open up a new checking account for each property they buy. But beings my goals are set a little higher than a handful of properties, this doesn't seem realistic.
How is the best way to structure my business? Should I just dump all rents into the same checking account that I pull out of for expenses such as rehab and maintenance to my properties? I will be using a program called Buildium to manage my properties but before I can set it up I need to figure my structure out. Any advice would be appreciated!