All Forum Posts by: Sean Weichel

I am invest In Arkansas currently 

I am currently investing in out of home state turnkey rentals. I am now looking for some advice on opening a bank account for the LLC. Do you have any advice or things to look for in a bank account? I am more comfortable with credit unions and would prefer to stay with a credit union. Can you recommend any credit unions/banks from personal experience?

Thanks

I have a turnkey rental in Arkansas and have started the process to acquire another. I have also started a LLC in Arkansas. I now need a dedicated bank account for the LLC. Do I need to open a bank account in Arkansas or can it be anywhere? I live in Nevada. I would prefer to open a local bank/credit union account here in Nevada under the Arkansas LLC. Do you have any pointers on this? I would also like to find a local credit union who does portfolio loans for down the road if I need. Do banks/credit unions portfolio loan on out of state properties?

Any pointers or ideas would be greatly appreciated.

Sean

Can anyone recommend a tax professional/CPA in the Reno, NV area? 

Are there any other CPA’s that are recommended for a new investor?

Thanks

@James Martin could you please pass along your map to me also, thanks

Good info all. Really appreciate the help. 

Thanks for the replies. Just starting my journey and all help is greatly appreciated. 

I have opened another checking account at my bank. I have it linked to a couple of my savings account and plan to run all my rental business through just the new checking account. Im trying to find the best way to move my money from an online bank account to a dedicated rental business account for down payments, utilities and property management bills. Is there a problem having them linked to my personal checking accounts at the same bank as long as i run all business transactions through just the one account?

I’m trying to figure out the implications of living in Nevada and investing in California. nV is a no income tax state, with investing in CA would I need to pay CA income tax? What other tax or things would I need to look out for? Any first hand experience would be great. Thanks

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