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Updated over 6 years ago on . Most recent reply

Jonathan Onny's profile image
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Jonathan Onny
  • Rental Property Investor
  • from Dayville, CT
  • Member since Jan 3, 2019
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Jonathan Onny's profile image
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Jonathan Onny
  • Rental Property Investor
  • from Dayville, CT
  • Member since Jan 3, 2019
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Jonathan Onny
  • Rental Property Investor
  • Dayville, CT
3
Votes |
12
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Starting Out

Opening a checking account for multi family units

Jonathan Onny
  • Rental Property Investor
  • Dayville, CT
Posted

Should I open a business checking account before I purchase a rental property

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Brian Ploszay
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  • from Chicago, ILLINOIS
  • Member since Oct 28, 2009
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Brian Ploszay
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Brian Ploszay
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  • Chicago, IL
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Brian Ploszay
  • Investor
  • Chicago, IL
Replied

@Cody Z. I don't know what type of property he is buying. If it is multi-family, the loan is not a personal residential loan, and the bank will allow you to put it into an LLC.

Today, there are also lenders who target single family rental investors.  Using these type of loans, I am still able to use LLCs.  

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