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Updated over 4 years ago,
Business Bank Account
I own only one rental property which was used with a VA Loan
But got married and had to move out of state and I’m now renting that home.
I've read a bunch of Real Estate books saying how important it is to have a business bank account... with that being said I've also read that there is no need to open up an LLC right away since I still don't have the momentum or buying power to purchase properties really fast.
I do want to have a good foundation right now instead of fixing all the problems later, so can I open up a business account as a sole propiertor? Or since I only have 1 rental property I’m I good to just have the funds on a separate savings account
And keep all the expenses accounted for?
I’m planning on buying one rental property a year (House Hacking)
Thank you in advance!