Hello everyone
I'm new to domain flipping and for the past few days I've had some questions on my mind. Any help would be greatly appreciated.
1) I've heard that whenever you make money online, you should open a business account at your bank and put all your profits in there instead of your personal account because, for whatever reason, if someone tries to sue you, your personal assets wouldn't be at risk or something like that. Do any of you agree with that or do you deposit all your profits into your personal account?
2) I've been doing research on whether I should create a paypal account or an escrow account and from what I've read, escrow is more secure and better for higher payments (I believe paypal only allows up to $1000, correct me if I'm wrong). However, I read a thread here on namepros and some people were using the terms escrow and flippa escrow interchangeably while some people were treating them as separate. Are they the same thing or different, and if they are different and I want to create a flippa escrow account, is there a specific flippa escrow site I need to go to in order to register or would I just go to escrow.com?
Again, any help would be greatly appreciated. Thanks for your time.
Alex
I'm new to domain flipping and for the past few days I've had some questions on my mind. Any help would be greatly appreciated.
1) I've heard that whenever you make money online, you should open a business account at your bank and put all your profits in there instead of your personal account because, for whatever reason, if someone tries to sue you, your personal assets wouldn't be at risk or something like that. Do any of you agree with that or do you deposit all your profits into your personal account?
2) I've been doing research on whether I should create a paypal account or an escrow account and from what I've read, escrow is more secure and better for higher payments (I believe paypal only allows up to $1000, correct me if I'm wrong). However, I read a thread here on namepros and some people were using the terms escrow and flippa escrow interchangeably while some people were treating them as separate. Are they the same thing or different, and if they are different and I want to create a flippa escrow account, is there a specific flippa escrow site I need to go to in order to register or would I just go to escrow.com?
Again, any help would be greatly appreciated. Thanks for your time.
Alex
