Cham Vee
Bank Accounts for rental Properties
How do you all set up bank accounts for rental properties? I am a new investor here in San Antonio. Own a duplex and a triplex. Bought both of these within the last 6 months. I am working on organizing the rents and ...
Lori Dale
Utilities
Hi, my name is Lori and I am new to BP. I've learn a lot from reading the forums. I still have a lot to learn. I'm interesting in multi family homes. I would like to live in one of the units and rent the other units o...
Christopher Brown
Advice Needed: Dividing utilities between top floor and basement suite
I've just placed an offer on a home with a 3 bedroom top floor and a two bedroom basement suite. In my area, usually basement suites are rented with utilities included. But if I rent the top floor to one family and th...
Sean Linnehan
Seeking recommendations for banks to use for multiple bank accounts
Each of my rental properties is held by its own LLC, and each LLC is owned by a holding company that sits at the top (which is owned by me). Each LLC needs its own bank account, but as I scale, I am looking for a bett...
Alex Silang
Getting my accounting right
So I had two properties. I had two separate accounts for rental deposits. For checks and debit card charges, I used my first account. I used excel. Worked pretty well the past few years.I'm trying to get into wave tho...
Andrew T.
Buying Condo Portfolio - Philadelphia - questions
Hello BP,I am a new investor looking to buy a portfolio of 3 condo units in the same building in center city. I am running my numbers and have trouble estimating insurance since I am not sure do I need 3 separate insu...
William Truszkowski
Two houses on a single PIN
I have found a property for sale that has two houses on a single tax identification number. The first house was built in 2000 and the second house was built in 2013. Both houses have separate utilities, separate wells...
Jessie Xu
Bank accounts without an LLC
I'm currently mixing rental transactions with my living expense in the same account. I really should stop doing that, but I'm not in a plan to set up an LLC. How should I properly set up my accounts?Should I just open...
Brian Sherman
Book Keeping on a house hack with my fiance
Hey gang! My fiance and I just got our first house and we are planning to convert a section of the house to an auxiliary dwelling unit and rent it out. We started a shared bank account and are on our way to setting up...
Jerrett Wilson
Two Houses, One Property - Help!
Hey BP! I got a question, that I’m having trouble finding an answer to!A little back story before jumping into the question. In January I purchased a property that had two houses on it, a SFH and Duplex, which needed ...