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Updated over 4 years ago,

User Stats

14
Posts
2
Votes
Victor Triana
2
Votes |
14
Posts

Business Bank Account

Victor Triana
Posted

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!

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