I'm looking to open new checking/savings accounts with a local bank to keep my real estate investing money separate from my other personal accounts. Ideally, the bank will also be a good option for real estate or small business loans. I've narrowed it down to:
- Reliance Bank
- Royal Banks of Missouri
- American Bank of Missouri
Anyone have experience with any of these, good or bad? Would love to hear from fellow investors in the area before I set something up. Thanks!
Is there any reason you chose these banks over others in the area? I am about to start bank hunting as well and I would love to hear other's criteria.
Well, convenience is important to me, so as a starting point I actually looked up all the banks within a mile of my house. :) There were several, so I spent time looking through the websites, and I weeded out any that had account maintenance fees or didn't seem to put a lot of emphasis of various loan options. I'm looking for banks that do multiple types of loans, so that I know I have some opportunity to pursue different approaches based on the deal I'm working on.
That's how I approached it... we'll see how it works out! I obviously didn't get any feedback on this post, but after going out to sit down with people from the bank, I'm leaning toward American. Good luck with your hunt, @Kyle Eckert !