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Updated about 1 year ago on . Most recent reply

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Julian Colvard
  • Property Manager
  • Atlanta, GA
41
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83
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Which bank allows for multiple accounts?

Julian Colvard
  • Property Manager
  • Atlanta, GA
Posted

Currently, I’m getting through “profit first“ for real estate investors (book). It’s giving the advice of setting up multiple accounts for different purposes, and my question is, what banks do you currently bank with that allows you to open up multiple checking/savings account for one entity?


The book is saying open up multiple accounts for your business for the purposes of charitable giving, owner income, taxes, paying down bad debt, etc.

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Theresa Harris
#3 Managing Your Property Contributor
11,255
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Theresa Harris
#3 Managing Your Property Contributor
Replied

Make it as simple as possible. I can't see how keeping track of all of those accounts would save time or make your life simpler.  Plus why have an account for paying down bad debt....the money should be going to paying the bad debt, not sitting in a bank account.

  • Theresa Harris
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