All Forum Posts by: Noah Horas

Thanks for the clarification Scott. Much appreciated!

Hey BP, 

I'm a newer investor trying to make sense of the accounting/bookkeeping side of the real estate investing world. Getting into buying more properties I need some advice on how to organize and build out bank accounts etc. etc.

1. For every property you own you should be opening up separate checking and savings accounts for the ease of book keeping and accounting, correct?

2. With the separate bank accounts for every property, should the cash flow that I make every month be deposited into the respective checking account or into my personal checking account?

3. If the cash flow generated should be deposited into that specific property's checking account, how would I access it to use it for other ventures or personal expenses?

4. What do you do with security deposits and repairs/maintenance/CapEx that you are subtracting from the total monthly cashflow for future expenses

I know it's a decent amount of questions but I would love for someone to guide me through this process as it's all seeming a little confusing to me at the moment. 

Thanks in advance to anyone who takes the time to respond and help me out here!

I’m interested in house hacking a 3-4 unit to get started in around 8 months or so, when my present lease ends. Thanks for the suggestion, I'll be sure to check it out! 

Hey all,

I love BiggerPockets and am now getting into real estate investing at the age of 21, all thanks to everyone here! I was wondering if anyone had any good groups that meet regularly based out of Philadelphia, where I’m looking to invest.

Thanks in advance for all your responses!

What's up Bigger Pockets!

I'm planning on getting into the real estate game in about a year or so (graduating college at the end of the year). I wanted to ask for any advice that you seasoned investors have about finding real estate agents, lawyers, property managers, CPAs, etc. Finding good ones obviously. I want to start building relationships with people that could help me out as I progress. 

Thanks ahead of time for any replies. I appreciate you all!