Closing on a rental property in the next couple weeks. Any credit card recommendations? I will be doing some renovations and furnishing it before listing on Airbnb. I want to keep the expenses separate from my personal finances for tax purposes.

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Like one of Snoop Dogg’s famous hits, here’s my attempt to “drop it like it’s hot!”

Apply for an EIN if you’d like under your name or a DBA, so that you don’t use your social in documentation with Airbnb or others when needed.

What PWC1 said, Get a Business Chase Inc line of credit. Use it ONLY for business purposes.

Apply for Home Depot line of credit and/or Lowe’s line of credit, but ONLY when you’re ready to get a big bulk purchase, so you can utilize their 10% discount. Use this option ONLY after you send it to the back room for bulk-value pricing. (Hope you caught what I threw.) They should be able to give you contractor/bulk pricing and then the 10% discount on top of that.

Tax purposes, these expenses are super simple to maintain. Pay these expenses using a BUSINESS bank account. If you need to, open a business checking or if it’s not needed, a regular/personal checking where you control how much you deposit. This will allow you to pay contractors with peace of mind as well because the checks will
contain the account number and it won’t be tied to your personal accounts.

GL! 😎

likesmart

Get a 0% apr one. Idk what’s best but nerd wallet knows

My brothers friend opened a bunch of credit cards all at once with no interest for 12 mos or longer and ended up paying them all off before the interest hit.

This was years ago, not sure what the market is like today but if I recall correctly, you gotta open them all at the same time to reduce the chances of your credit score getting dinged enough to get a decline on an application.

Look into the chase business ink. $750 bonus plus 12 month 0% apr

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