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Updated about 10 years ago on . Most recent reply

User Stats

15
Posts
2
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Zack Carlson
  • Marketing
  • Spokane, WA
2
Votes |
15
Posts

Live in WA, buying in IL, where should I bank?

Zack Carlson
  • Marketing
  • Spokane, WA
Posted

Hello all, 

My family is in Illinois and my dad is retired and he's willing to be my property manager along with my two adult brothers. I'm in Washington state and wanting to setup an LLC with myself and my dad on it.

I've talked to two banks here I've dealt with in the past and one said they can't lend in IL as they have no branches there. The other said no problem even though they are a regional bank here too. 

Would I be better off setting up a bank account with a national lender even though they won't treat me as an investor and only an account number. 

OR should I setup a bank account in IL with a regional bank there and have them do all my paperwork remotely? 

In the end I'm hoping I can just give my dad a checkbook and debit card and access the account from here and be able to keep the books in order here.

Thanks for any help provided.

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