If you haven’t set up your property investing accounts perfectly, you’re almost certainly losing money.
When I first started investing in property, I was very careful with how I set up my bank accounts. I diligently kept one account per property, making sure I knew precisely how each of my properties was performing. I had no idea that my diligent account set-up was losing me dollars on a daily basis.
Then I started reading about how to set up my accounts properly, and I even paid to have an expert re-arrange them. Now I am fully confident that every dollar I earn is giving me maximum value. I’m increasing my equity faster than ever, allowing me to start thinking about buying more properties sooner.
The lesson to be learned here is that there are experts who know how to set up accounts. Their fees might seem steep until you consider how they might save you thousands of dollars each year, for many years. My expert was even able to negotiate an interest rate cut for me!
So get a property finance expert to run through your accounts with you as soon as possible. You can’t afford not to!