Account Closed
Best practices for bookkeeping if not under LLC
Hello,I’m closing on my first deal and have decided to hold off on putting the property under a LLC. Since I wouldn’t have an EIN to create a business checking account, am I allowed to simply open a new personal check...
Mark Sandoval
New to real estate investing, do I need a business bank account?
Hello, I am new to real estate investing and currently have my first investment property under contract. I read in the book on Rental Property Investing that I should get a business checking account for income and exp...
Michinori Kaneko
Do I need a Business Checking Account?
Hi,I went into contract on my first rental property a week ago, and getting ready to close the property in few weeks (under my own name, with no LLCs). I am wondering if opening a business checking account is recomme...
Richard Yount
How to Set up Finances - First Property House Hack w/ in Law Ste
Hello All,Thank you in advance for the help. I'm reaching out as I'm getting ready to make my first purchase of a property. To give you the details on the property, it's a single family residence with two in law sui...
Michael Win
What account to open
Hi BP,Started picking up rentals late last year and have 1 Condo that is currently rented. I will be picking up another 12 rentals this month and likely a few more by years end. My condo currently is under Company ...
Himanshu Singh
Tax advantages for STR/Airbnb owners
Hello All, Quick question to see what others are doing for optimizing tax advantages for STR. Background:We got a second/vacation home during the pandemic and now its ready to go online as an STR in the Russian River ...
Kelly Byrd
Why accounting software?
Not sure if this is the right forum for this, please move the thread if it belongs somewhere else.I'm very computer literate and I'm comfortable putting in the time and learning new programs. I've been a Quicken user ...
Christopher Parsons
Where do you keep expenses?
Hey everyone,My wife and I are hopefully closing on our first BRRRR deal and I had a question for those who are rental investors. Where do you keep the money from rent that you set aside for expenses? Do you set up a ...
Patrick M.
Business Account or "Business" Account with Bank
When opening a separate account at the bank for rental deposits, rent, and expenses are you opening an actual business checking or are you opening a personal/general checking and calling it your "business" account. K...
M Ness
Best bank for landlord?
I'm hopefully acquiring my first property very soon. Although the property will initially be in my name, I will be forming an LLC to manage the property, and opening a separate bank account for it. I will eventually t...