Structuring DBA / Bank Accounts two properties
Hi RE,
I plan on renting and managing two properties this year. One of the homes is alreay paid off, and I plan on cashing out refi into the second home.
It's now time to separate finances. I've decided to go with the DBA approach until I gain more properties. I dont have any other assets.
Based on some research, I'll be structuring the accounts like this:
--Money Market for Deposits req by law.
--Property 1 Checking for Expenses
--Property 2 Checking for Expenses
Now, I need to decide on a DBA name and like most of you at first i'm stuck.
I was considering just my 2 letters from my name + some kind of RE term. [EG: LO Properties.
However im worried about posts stating never to use keywords such as "properties" or "holdings" [not sure why]. Are these RE keywords generally OK to use? Or should I just pick a completely random word or two?
I was also going to use the street address and form two DBAs but not quite sure how that would work. Ultimately i'd like to accept checks to the 'company'. General advice would be appreciated. Thank you