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Updated about 3 years ago,
Real estate investing & choosing a bank :)
Hey guys,
I have been doing research on the best banks for real estate investors and I see that many people favor local banks or credit unions- where they can create a relationship.
My biggest question is: when you find that bank you want to cultivate a relationship with.. do you transfer all of your personal/ business accounts to the same bank? Is that even a consideration? An old mentor told me that the best way to gain favor is to create a relationship with a small bank, and transfer your funds to that bank as well.. however I cannot find anything speaking to that.
I currently bank with Wells Fargo, and have wanted to change for some time - however, I closed on my first flip today and tried to deposit the check with them and they are holding the funds for 12 days before putting them into my account- so I want to make a change anyways.. just didn’t know if I should consider who I would like to build a relationship ship with for investing when choosing where to store my checking / savings accounts (business & personal)
thanks guys?!