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OfflineComplexicated
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Good bank for rental property LLC?
    #27579790 - 12/13/21 09:53 AM (2 years, 1 month ago)

I have a couple rent houses that I recently turned into an LLC. I'm planning to buy several more as this will be my retirement income since I'm self-employed.

I'm going to set up a bank account for the LLC but can't decide which route to go. I'm thinking either a credit union or an online bank. I guess I'm looking for something with the best savings account interest rates. I know they're all pretty terrible but I think I've heard that some online banks offer 1 or 2%? That may not be the case anymore, I'm not sure.

Anyone have any suggestions?


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Re: Good bank for rental property LLC? [Re: Complexicated]
    #27579848 - 12/13/21 10:24 AM (2 years, 1 month ago)

Conventional banks aren't going to be much different from one another, and credit unions might offer you a marginally better rate but it is likely to remain minimal.  You can of course have multiple accounts under the same LLC, so depending on how much cash flow you're working with, I would suggest considering an insured brokerage account whereby you can allocate some of your savings fund into interest bearing (i.e. dividend paying) equities, or ETF's for a broader approach to capital appreciation.


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