Best way of opening multiple business accounts

[Shalina Desancic]

Hey Everyone,

I am at the beginning of my REI journey. I currently have a Series LLC, I have it structured with the parent LLC not holding any properties only cash for acquisitions and each series has one property in it. According to most, each series must have its own business banking account. I have run into the issue that banks do not like to create multiple business accounts for one company. For example, my parent LLC's account is with BlueVine. BlueVine told me that each account has to have a different email, login, and password. I am trying to open one for my Series 1 LLC with Nearside and they keep kicking me back requiring more and more info. I'm wondering, those of you with series LLC's how did you structure your finances and bank accounts? OR even those of you that have multiple individual LLC's how are you financially structuring? Any help is very much appreciated!

[Marcus Auerbach]

@Shalina Desancicyou may be overestimating the need for an LLC, let alone for multiple and for when you are starting out. It's just a firewall to seperate (significant) chunks of net worth, nothing more. In 15 years of investing I have not even seen a case. And they come with a downside too. Brandon Turner has a good video about the LLC topic on YouTube. Easy to go down the LLC rabbit hole instead of actually investing.