Buying & Selling Real Estate
Market News & Data
General Info
Real Estate Strategies
Short-Term & Vacation Rental Discussions
presented by
Landlording & Rental Properties
Real Estate Professionals
Financial, Tax, & Legal
Tax, SDIRAs & Cost Segregation
presented by
1031 Exchanges
presented by
Real Estate Classifieds
Reviews & Feedback
Updated almost 7 years ago,
Transfers from Personal/Business Accounts
Hello!
I currently own 2 SFH's in my own name and all funds flow through my own personal checking account.
Moving forward, I plan to put all new properties into their own LLC (single member) with their own business checking account.
My question is this - If I open these new business checking accounts at the same bank as my personal account, can I make direct transfers from the business checking account into my personal account and vice versa? Or is this a big no no in terms of commingling funds?
If so, what is the recommended process for withdrawing excess profits from business checking accounts and putting them into my personal account for using towards future purchases?