Account Closed
Setting up DBA / Bank Accounts for 2 properties
Hi RE folks, I plan on renting and managing two properties this year. One of the homes is alreay paid off, and I plan on cashing out refi into the second home.It's now time to separate finances. I've decided to go wi...
Edmund Ricker
Bank that will open account for IRA/LLC
Good Morning Bigger Pockets:Can anyone recommend a bank to open a checking account for my IRA/LLC. I tried my local bank and they had no idea what I was talking about....I think they thought I was looking for a unico...
Kia Zhu
Deposit and rent in the same bank account?
My property is in NJ. Per the bank's request, I need to ask tenants to fill in a W-9, so I can put their security deposit in an interest bearing security deposit account.The tenant wouldn't fill one, so I put her secu...
Scott Meers
Thoughts on Funneling Money into LLC Bank Account???
Hello all,
Thanks for reading and commenting - 1st rental duplex will close on 05/22 if all goes well. LLC is set up with Illinois, and paperwork is complete.
No tenants yet. I am going to hold the building for abou...
Steven Mitchell
Advice on starting a business account at bank?
Anyone have suggestions for starting a business account at bank? (Any criteria, things I should know about, minimum bank account balance, etc) I'm just starting in my real estate journey and want other investors advic...
Joshua Burgeson
Advise for Banking / Accounting for STR Management Company
Hello! Does anyone have any suggestions for banking and/or accounting solutions specific for STR management companies?Would love to know how others in this space have their banking setup (specifically for trust accoun...
Dale T.
Bank Went into homeowners account and took money
I have done Butt loads of short sales and this one is new to me. The Homeowner is with PNC and he has an account (savings or Checking). PNC took out every penny form his account which was not much but is was $1100 tha...
Sweta Jain
Is business bank account needed for rental income
Hi, I am starting to self manage my rental property and have below Qs. Please help?1. I understand its good idea to have a separate bank acc for rental income. Can it be a personal acc? I called WF and they said for b...
Mike Davidson
Bank account number for direct deposit of rent
Drawing up a new lease for an existing tenant. They want to setup an automatic payment directly through there chase account. The standard lease simply asks for Place of Payment with name and address. Should I give the...
Tim Ball
Separate Bank Accounts for Each Rental or nah?
Hello BP World,I am buying my second property which actually is a duplex. (Congrats). Thank you. I have a separate bank account for my first rental because I am taking the advice from Brandon's book on growing your...