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Updated about 2 years ago on . Most recent reply

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Lindsey Drumheller
  • Long Beach, CA
1
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10
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Business bank account

Lindsey Drumheller
  • Long Beach, CA
Posted

does anyone recommend a certain bank or credit union to open an account in for their real estate investment entity? Thanks! 

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Nathan Emmert
  • Investor
  • San Ramon, CA
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Nathan Emmert
  • Investor
  • San Ramon, CA
Replied

When they say local bank... check before hand to see if they do portfolio lending (i.e. they hold the loans, don't sell them).  Those are the banks you want relationships with as they can do more creative financing and aren't subject to all sorts of rules in order to sell them.

Beyond that, check on the fee structures.  Several banks offer free business checking.  Oh yeah, don't buy your checks directly from the bank.  I got mine from Sams Club (no, you don't need to be a member).

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