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Updated about 9 years ago,

User Stats

477
Posts
426
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Jason V.
  • Investor
  • Rochester, NY
426
Votes |
477
Posts

Contact Structure for a Newbie

Jason V.
  • Investor
  • Rochester, NY
Posted

Looking for advice on how to setup phone numbers, bank accounts and other general contact information for a newbie. 

We currently own one SFR which has been rented for 18 months. Could not ask for better tenants (knock on wood) and I've never had an issue with them having my personal cell phone number - but I know that won't always be the case. I'm thinking of using Gmail and Google Voice for the 5 unit building we're in the process of purchasing (offer has been accepted, we have financing) to keep some level of anonymity, but would like to know what everyone else's thoughts/opinions are on this? I'm not to the point where I want to spend a lot of money on structuring this yet, although that will probably change in another 4-5 properties.

Also, when it comes to the new property, should I file for another DBA so I can have a bank account for just that property? Should every property have it's own bank account? Is a DBA even necessary? Again, at some point we will probably transfer all of the properties into another business structure (LLCs or a Series LLC, or whatever else our Lawyer/Accountant recommend) but I don't want to fall into the trap of waiting to have everything perfectly planned and organized to move forward with acquiring properties.

I guess what I'm really looking for is the simplest/easiest way to keep everything organized so when I take it all to an accountant in a couple of months, it isn't a complete rat's nest of information, and that it won't cost me a million dollars extra to transfer them into a smarter business structure. 

Thanks all!

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