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Updated over 2 years ago, 09/04/2022

User Stats

16
Posts
18
Votes
Connor Lewis
  • Rental Property Investor
  • Lexington, KY
18
Votes |
16
Posts

Expense Tracking for New Investor

Connor Lewis
  • Rental Property Investor
  • Lexington, KY
Posted

Hello BP community!

I just closed on my first house hack yesterday! I'm super excited to officially begin my real estate investing journey! 

I will soon establish an LLC and open a business account to track income and expenses through that, but in the meantime I'm unsure of how to properly track expenses for the rehab. I know not to comingle funds with my personal checking account, so in the meantime should I just open another checking account and utilize that for the property? I appreciate all advice from those who have done this before! I want to make sure it's not a headache for my CPA. Thank you for your responses!

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