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Updated about 1 year ago,

User Stats

91
Posts
30
Votes
Jason Sung
  • Investor
  • Dallas, TX
30
Votes |
91
Posts

Is it OK to use personal checking account to manage rental income?

Jason Sung
  • Investor
  • Dallas, TX
Posted

Hi BP community, I am trying to implement Profit First method, which suggests to open multiple accounts; tax account, operating cost account, profit account etc. 

I cannot find a bank that allows opening multiple checking/saving account with no monthly fee and no minimum requirements. 

I found Capital One has such account options, at least or personal banking. Not sure if they have similar options for LLC.

What do you think about using personal back accounts to manage rental portfolio? Is it a bad idea? 

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