Skip to content
×
PRO
Pro Members Get Full Access!
Get off the sidelines and take action in real estate investing with BiggerPockets Pro. Our comprehensive suite of tools and resources minimize mistakes, support informed decisions, and propel you to success.
Advanced networking features
Market and Deal Finder tools
Property analysis calculators
Landlord Command Center
$0
TODAY
$69.00/month when billed monthly.
$32.50/month when billed annually.
7 day free trial. Cancel anytime
Already a Pro Member? Sign in here

Join Over 3 Million Real Estate Investors

Create a free BiggerPockets account to comment, participate, and connect with over 3 million real estate investors.
Use your real name
By signing up, you indicate that you agree to the BiggerPockets Terms & Conditions.
The community here is like my own little personal real estate army that I can depend upon to help me through ANY problems I come across.
General Landlording & Rental Properties
All Forum Categories
Followed Discussions
Followed Categories
Followed People
Followed Locations
Market News & Data
General Info
Real Estate Strategies
Landlording & Rental Properties
Real Estate Professionals
Financial, Tax, & Legal
Real Estate Classifieds
Reviews & Feedback

Updated about 5 years ago,

User Stats

91
Posts
30
Votes
Josiah Sia
  • Rental Property Investor
30
Votes |
91
Posts

Personal Account - transferring money to/from Business Account

Josiah Sia
  • Rental Property Investor
Posted

Planning to close on our first investment property in the next month or 2 (If all goes well). We have a personal checking and savings right now. We will be starting a business checking and savings with a different bank.

I’m planning to have all rents go into the business account and stash a portion of the rent into the business savings for repairs and other business needs. 

I was also planning to Transfer some money from my personal checking to my business checking when needed to cover repairs and other business expenses until my business accounts have built up enough buffer. 

Once my business accounts have enough buffer that I am comfortable with, I was planning to transfer money to my savings account in my personal account for personal use.

Is there any issue with this when trying to separate accounts? Do you have any best practices when managing financials with a personal and business account? 

TLDR: Planning to transfer money to and from personal and business account depending on where cash is needed. But will only be using those accounts for their intended purposes. IE. Business account will only be used for business transactions. Personal will only be used for personal transactions. Any issues with this?

Loading replies...