Bank account for real estate partnership

Columbus, Ohio
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Bank account for real estate partnership

Sharad Bagri
Member since 2024 · 16 posts · 29 votes

For a general partnership (without the LLC), that will invest in real estate in Ohio, what kind of bank account can we open, like checking, saving or anything else? Can we create a High yield savings account?

What banks would you recommend for it?

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  • Charles Carillo
    Rental Property Investor · North Palm Beach, FL · Member since 2018 · 2k+ posts · 1k+ votes
    1y

    @Sharad Bagri

    I would open a bank account at a local bank or credit union that will lend on the properties you are buying. You can do your banking there and begin a relationship with a lender that finances your real estate investments. You can also have a high-yield savings account elsewhere, but a local bank relationship will really help you as you begin to grow.

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  • Alfath AhmedBusiness Member
    Real Estate Agent · Columbus, OH · Member since 2022 · 1k+ posts · 1k+ votes
    1y
    Quote from @Sharad Bagri:

    For a general partnership (without the LLC), that will invest in real estate in Ohio, what kind of bank account can we open, like checking, saving or anything else? Can we create a High yield savings account?

    What banks would you recommend for it?


    You would be opening a business bank account with your EIN# for your LLC. I use chase to do all of my banking.

    [email protected]614-802-5698
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  • Sharad Bagri
    OP
    Member since 2024 · 16 posts · 29 votes
    1y
    Quote from @Alfath Ahmed:
    Quote from @Sharad Bagri:

    For a general partnership (without the LLC), that will invest in real estate in Ohio, what kind of bank account can we open, like checking, saving or anything else? Can we create a High yield savings account?

    What banks would you recommend for it?


    You would be opening a business bank account with your EIN# for your LLC. I use chase to do all of my banking.


    We are not forming LLC.

    0Reply
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