All Forum Posts by: Evan K.

Hey Everyone,

I've been slowly accumulating properties over the last few years. Placing each property in its own LLC structured under my holding company.

Each LLC has its own bank accounts to manage the income and expenses, respectively.

My question to you: how do you structure your business banking as you're accumulating? I don't want to end up with 100 bank accounts!

Evan

Hi Everyone!

Quick question. Before I ask, I know its recommended that I speak with my attorney and/or CPA.

I hold each of my properties in their own LLC. I recently created a parent-company (holding company) and in the process of updating ownership structure with the IRS. However, when I submitted forms 8822-B the IRS sent back and said ownership could only be changed to an individual.

Question: How do I go about updating my ownership structure with the IRS, from sole member to owned by a parent LLC?

Thanks!

@John Warren @Ryan Swan - thank you both for your thoughts and recommendations. Going to check out Cozy!

Hi All - newer investor here in Scottsdale, AZ. Currently have less than five investment properties, all single family homes. 

Have been using Venmo, Zelle, etc for rent collection and wanted to move to something more formal.

Curious to hear your thoughts on Zillow Rental Manager, open to recommendations as well.
Thank you!