New Bank Account?

[Nicholas Betancourt]

Hello! Just wanted to hear from the community and get some other perspectives.

I recently purchased my first home, its a duplex. I plan on house hacking and was wondering if I should open a new bank account solely for the rental property transactions. Are there any specific bank accounts I should consider?  

[Kerry Noble Jr]

Yeap that would be beneficial for you. I probably wouldnt have a debit card to it either.....

[Nicholas Betancourt]

Quote from @Kerry Noble Jr:

Yeap that would be beneficial for you. I probably wouldnt have a debit card to it either.....

Makes sense! Thank you for the confirmation! 

[Melanie P.]

Posting the question once is plenty. The three hour time gap is perplexing. 

[Bill Hampton]

@Nicholas Betancourt

Yes, a separate bank and separate credit and debit cards will help with tracking income and expenses and will help with tax return preparation. 

Good luck.

[John Morgan]

I didn’t until my 6th property. The booking on only a few properties was simple enough.