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Updated about 6 years ago,
How to split banking for different properties
I have one rental property right now, I'm under contract to buy my 2nd. Right now I have my personal bank account with it's 5 sub-accounts. I also have a separate bank account for my property (with it's 5 sub-accounts) which is under an LLC. My bank only allows me to have 5 sub-accounts per account. For my property account under the LLC my sub-accounts are: 1) Checking, 2) Deposit Money, 3) Personal (cashflow I can spend) 4) Repairs 5) Cap Ex. My question is should I have a completely separate bank account for each property? Or pool the money into one bank and keep track of it through a spreadsheet?