Kulin Dakwala
Bank account for rental income
Hello,With the help of BP community, I am going to close my first SFR soon.This is my first rental and purchasing on my name (not LLC). I do not want to mingle personal account with this rental income & expenses. ...
Brian Bonetta
Rentals, LLC's, and Bank Accounts.
I am new to real estate investing , and I am wondering how others structure each of their rental properties. 1) Does each rental have its own LLC? 2) Do you create separate bank accounts for each property, under the ...
Stuart Fillmore
Best business bank accounts recommendations
Rookie Investor here just getting my systems set up.Now that we’ve set up an LLC, anyone have any recommendations on banks (online or Brock and mortar) that are friendly to small businesses? And the terms of the busin...
Ross Alcorn
LLC Structure & Bank Accounts
I own 3 properties all 3 being used for medium term rentals. What the best way to set up the properties to protect us from Liability. I see so much out there and it can be quite confusing at times.This is my plan but ...
Nicholaos Koufoudakis
Separate Bank Accounts Per Property
HI all, I had a question about bank accounts and what is the best way to manage this. I have chosen to go the LLC route for each property and was told the safe bet is to open a separate bank account per property to ma...
Matthew Hammond
Bank Account Options for REI
My wife and I are working on acquiring our first rental property (Short Term Vacation Rental), and I was wondering what you recommend as far as setting up an Operating Account. I've read posts about about having an a...
Kyle Lecy
Bank Account for Security Deposits
Hello, I will recently be purchasing a rental property, and was told that in the state of Minnesota that the security deposits legally need to be put into a separate trust account. However, I can't find any Minnesota ...
Stetson Hamilton
How to structure bank accounts
Hi everyone, I'm currently on the search for my first small multifamily for a House Hack. I've have followed the forum as well as the podcast for a while now, a topic that I have not heard yet or (missed) is what's th...
Rachel Lyle Bridgers
Bank Account for Security Deposit
Hi,Legally, are you required to have a separate bank account for security deposits? If your bank has a minimum balance is it alright to put personal money in the account when you don’t have security deposit money in t...
Marc-Andre Bordeleau
Newbie - Setting up bank accounts
Hey guys,I'm about to close on my first property and the realization is finally starting to kick in. I need to get my stuff together.So I was wondering, for those who have one or many rental properties, how do you hav...