Investor Friendly Banking Option in the Bay Area

1 Reply

Hello, I am a land investor and I'm looking to employ the "Profit First" strategy to help me manage my financials.  If you're not familiar it basically recommends that you have a bunch of bank accounts (income, profit, owner's pay, taxes, and operating expenses) and when money comes in you distribute it among your bank accounts in some predetermined percentages (profit first of course!), and in this way you can have a more easy view of your financials .  The recommendation is to find a bank that won't charge you minimum account balance fees.  So I wanted to take this opportunity to potentially build a relationship with a local credit union or regional bank who also provides portfolio lending options.  The thought being that I can build a relationship with this bank so that when I one day start purchasing SFRs and multis that I'll already have a relationship and it will be easier to get my foot in the portfolio lending door.  Also, banks like this are recommended for the "profit first" strategy because they're more likely to work with you on the fees.

Bottom line, I'm curious if any investors in the bay area (Sunnyvale, Mountain View, Santa Clara, Palo Alto, San Jose) have experience with local banks that they could recommend, and even better, if someone in the area uses the "Profit First" system to manage their business at one of these banks.

Thanks in advance!


Hi Matt, 

I have consulted with Sterling Bank (cupertino, daly city location..) couple times and I really like them. For my back then situation, I have called at least 5 banks and Sterling bank is the most willing to help investors. They can run your scenario quickly and let you what can they do to help or how to make it work. In terms of penalty on minimum balance, my understanding is as long as you have $500 you won't get penalty. 

I didn't end up doing the deal because the amount it too high so I can't comment on other areas. And my recommendation is purely based on my personal limited experiences. 

Hope you find what you need.