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Updated over 3 years ago on .

User Stats

8
Posts
9
Votes
Austin Lohr
  • Rental Property Investor
  • Kansas City, MO
9
Votes |
8
Posts

Best Bank for REI-Focused LLC

Austin Lohr
  • Rental Property Investor
  • Kansas City, MO
Posted

Any guidance on local (KC) or federal banks? This will be for 2 accounts: first is joint-investment account for my partner in I to deposit funds that will go towards investment equity for properties. Thinking this could be a HYSA or regular savings account. Thoughts?

Second will be operational funds. Income from cash flowing properties deposited here and will also keep emergency/incidental funds for each property. Plan would be to setup an account for each property so accounts are separate and easier to manage. Thinking this would be a normal checking account. Thoughts?

We are thinking it makes sense to keep both account types with the same bank for ease of use, but any reason not to do this? 

Thank you in advance!