Organizing cash in-flow

[Marc Belisle]

Hello,

I am really enjoying learning here every day. But each day brings more questions. Let's say you have $300 positive cash flow on your only rental. You plan to set aside (totally random numbers) $50 for repair fund, $50 for capital expenses, $50 for lawn mowing etc. 

How do you all organize and delineate those monies in your bank accounts? For instance, if I have my personal checking account and a main savings account, do I create several other accounts for real estate income-- one for "repairs", one for "lawnmowing" etc, or do I just put them all in the same account and know the proper amount was saved and is available? 

[Alex Deacon]

@Marc Belisle Marc I would open a separate account for your rental properties and put all your cash flow in there and use the money only as needed until you accumulate enough to go and buy another property. So basically you answered your own question with your last comment