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Updated almost 5 years ago on . Most recent reply

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75
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5
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Brad Haughton
  • Mount Vernon, NY
5
Votes |
75
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Money when it comes to investing

Brad Haughton
  • Mount Vernon, NY
Posted

Should I create a second bank account for my rental money to go into or should I just use my current bank account for all the money that's coming in ?

Most Popular Reply

User Stats

156
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77
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Tommy Adeoye
  • Investor
77
Votes |
156
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Tommy Adeoye
  • Investor
Replied

@Brad Haughton  Although not in the same domain, there is a design principle called "Separation of concern" in the world of software engineering. This principle simply supports for separating a computer program into distinct sections such that each section addresses a separate concern.

Keeping your RE investment finances apart from your personal finances may be beneficial. Within your investment account, you may need to further consider 2 separate accounts - one for income and the other for expenses.  

It shows some degree of professionalism IMHO. 

  • Tommy Adeoye
  • Loading replies...