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Updated over 8 years ago on . Most recent reply

User Stats

319
Posts
103
Votes
DJ Cummins
  • Rental Property Investor
  • Bethalto, IL
103
Votes |
319
Posts

So...how many bank accounts do you have?

DJ Cummins
  • Rental Property Investor
  • Bethalto, IL
Posted

We are getting ready to buy property number two, and possibly number three in the next couple of months.  My wife feels like we should have a bank account for every single property we own.  I guess that is fine with 2 properties, but down the road, i feel like having 10 accounts for 10 properties will get confusing.  Just looking for some advise, not the account balances. HA.  Thanks all!

Most Popular Reply

User Stats

172
Posts
66
Votes
Gloria Mirza
  • Real Estate Agent
  • San Jose, CA
66
Votes |
172
Posts
Gloria Mirza
  • Real Estate Agent
  • San Jose, CA
Replied

I have one for long term savings, one for investing in stocks, and one for rental income.  A good option is to use online rent collection software.  I have recently asked my tenants to start using cozy.co.  It's free and would help track rental income on a per door basis.  

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