New Member Introductions
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, 11/16/2019
Separating personal and buisness expensive
Hi guys, so I’m fully renting out my first multi family property and now I’m living in my second multi family property (house hacking). I have separate checking and saving from my personal life which comes from 9-5 day job. And now I have 3 separate accounts for my rentals. Checking for paying mortgage, Saving for money I actually make, Saving for security deposit. I have a credit card from capital one that I will be using to pay for repairs or other expenses, that’s will be kind of like my business card. I know I won’t be making much money since I’m house hacking for now. But can I pay the capital one from my personal checking account at the end of the month??? I’m technically using my credit card as my buisness card for the rentals but I’m actually paying it through my personal checking at the end of the month. Is it ok??? Or do I have to keep depositing money from my personal checking to my rental checking account to pay it??? Either way I still have to use my personal checking account since I won’t be making much money this year. I truly appreciate your time reading this. Thank You!!!!