Accounts for monthly expenses

[Pope Lake]

When setting aside money for expenses that aren’t necessarily incurred monthly such as capex, repairs and vacancy - where do you store these funds?

For example, is there a separate account that you maintain and lump all of these amounts in? More broadly, what are tools you use to keep your REI finances organized in general?

[Alexander Knowles]

Check out Stessa.com and/or Cozy.co. for your bookkeeping. Typically put cash reserves into an online high-yield savings account that is easy to withdraw if need be. Use a high reward/points credit card for as many real estate expenses as possible and pay this off at the end of every month out of your real estate dedicated checking account.