Vacancy, PM, CapEX-What to do with it?

[Ashley Glinka]

Hi All,

My husband and I recently purchased our first property, a duplex. We are in the middle of renovating it. My question is: Once we get through the BRRRR process and we begin putting money towards vacancy, repairs, capex-what do you do with that money? Do you keep it in your business checking account? Do you transfer to a separate account? Where does it go? I am a person who likes things to be in order or have a specific place they belong so the thought of combining this money with money from other future properties we buy doesn't really fly with me:) Suggestions welcome!

[Andrew Postell]

@Ashley Glinka most strategies would tell you to have a business account for each company you hold.  So if you don't have a business yet, create one and keep all the business transactions through that account.  If you do have one, then your operational funds are held in that business account.  You can certainly have 2 business accounts for the same company if you see fit.  Hope that answers your question.