All Forum Posts by: Carlo D.

I found a bank that will open it. And my original bank also called today to say they can do it. So It looks like it was simply lower level employees with lack of knowlege. 

Thank you @Charles Carillo

I just came from the bank to open a bank account for the newly formed LLC that will hold the property I am purchasing. My LLC is formed in PA and I live in NY.

In the incorporating documents, I put my trust as the owner of the LLC. When I went into the bank they said they cannot open the account with this kind of set up. And the branch manager said he doesn't know of any big banks that does that as well as he's worked with a few of them.

I was shocked! Is this accurate? How do these conglomerates with holding companies and different sub companies do banking then?

I just came from the bank to open a bank account for the newly formed LLC that will hold the property I am purchasing. My LLC is formed in PA and I live in NY.

In the incorporating documents, I put my trust as the owner of the LLC. When I went into the bank they said they cannot open the account with this kind of set up. And the branch manager said he doesn't know of any big banks that does that as well as he's worked with a few of them.

I was shocked! Is this accurate? How do these conglomerates with holding companies and different sub companies do banking then?

 Thank you @Clayton Silva

Does the Garn-St. Germain Act not protect this in any way? (aside it's not fraud or misrepresentation when the transfer was made)

Hello to the community. I was hoping to get some guidance on how I should structure a certain transaction I am getting into. Here is the background. 

I am going to lend my own funds to a real estate investment company of which I own 50% of to purchase RE. I will be charging this RE investment company (again an RE company that I own 50% of) market interest rates. How, or better yet, who should I go to, to document this transaction? I am not so much looking for servicing the monthly payments, but more of creating the necessary legal documents and filing with the appropriate govt entities so that I can place a lien on the title of the RE that we are purchasing. 

I'm not even sure if I asked the question correctly. I'm assuming I would need to go to a law firm but I am not sure who would provide this particular service. 

Any help and guidance would be appreciated. Thank you.

 Thank you again @Lorien Rollins

 Thank you!

Thank you