choosing the best bank for Real estate. investment

[Nixon]

Hi I am looking to switch banks and wonder what other REIN members use for multiple accounts with the best service, least fees and investor friendly?

Thank You

R.Nixon

 

[2shoes]

There are a lot of variables to this question. I certainly haven't compared all the offerings but have found that the Scotia STEP plan has been beneficial. It allows 3 mortgages under one umbrella. As one mortgage is paid down the equity becomes available for another investment.

Mark

 

[housingrental]

Unfortunately the best answer is "it depends"



It will depend on what you need to do with it, what local in branch access you require, and what promotions are being run at that time.



Generally, but not always, smaller providers (certain credit unions, ING type accounts) will provide for lower fees but with reduced availability of branches. : 0px; text-transform: none; white-space: normal; widows: auto; word-spacing: 0px; -webkit-text-stroke-width: 0px; background-color: #ffffff;" />


Your best bet is to create an exact scope of what you need (how many accounts, how many transactions per month, what type of transactions, how much ATM use will you require) and then contact the branches in your area that provide you the access you want for pricing.

- See more at: http://myreinspace.com/public_forums/General_Discussion/61-30135-144511-What_is_the_best_bank_for_multiple_checking_accounts_and_REAL_ESTATE_INVESTMENT_.html#144511