Bank Acc Structures for IP

[eggnog]

Was reading one of the posts which got me thinking. What is the best way to structure your bank accounts for IP to make taxes, accounting, maintenance easier.

Would it be having a seperate account for each IP where all salaries and expences (rents, management fees, bills, maintenance costs, buying costs) associated with that property goes to/comes from.

 

[25North]

IP loan structure

If you haven't - read later thread regards capitalised interest. Especially inputs from Corsa.
Cheers

 

[simonjulie]

If you are planning to become a full blown property investor it would be a great idea to start familarizing yourself with spread sheets and start tracking all your expenses. It can get real messy when you get away down the raod with investing.
Simon