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As experienced landlords and real estate investors, we've thoroughly evaluated numerous products tailored for real estate investors. We can confidently state that the best banks for real estate investors deliver outstanding business accounts and robust commercial real estate (CRE) lending options. These top-tier institutions also offer essential business support services, including state-of-the-art expense management systems and seamless rent collection solutions. Even banks without extensive lending portfolios should provide a range of products and services that cater to both landlords and fix-and-flip investors, enhancing their investment strategies.
In this review, we'll dive deep into Baselane, a standout option in the real estate banking sector for individual landlords and investors. While we highly recommend Baselane, we strongly advise you to conduct your own due diligence when choosing a banking partner. It's crucial to identify the features that align perfectly with your real estate investing goals and select the bank that best addresses your unique needs. Remember, the right banking partner can significantly impact your investment success.
Baselane stands out as an exceptional choice for landlords and real estate investors seeking a comprehensive financial solution. This innovative platform offers a seamless blend of banking and property management tools that cater specifically to the needs of real estate professionals.
One of Baselane's most impressive features is its business checking account, which comes with zero fees and includes perks like free domestic wire transfers and ACH payments to third parties. This cost-effective approach allows investors to maximize their returns without worrying about unnecessary banking expenses.
The platform's flexibility is another major advantage. Users can create unlimited virtual accounts and cards, making it incredibly easy to organize finances by property or project. Easily set up virtual accounts for security deposits, savings and more. This level of customization, combined with the ability to earn up to 4.19% APY on deposits (FDIC insured up to $3 million), sets Baselane apart from traditional banking options.
Baselane truly shines in its integration capabilities. The banking product seamlessly connects with the company's free online rent collection system, bookkeeping, and analytics software. Everything is accessible through the main dashboard and the rent collection system is key - with the ability to add custom fees, automated late fees, and more. This integration provides a holistic view of property finances, streamlining operations for busy landlords and investors.
For those looking to expand their real estate portfolio, Baselane offers access to various CRE loan products through its partner, Simplist. With loan options ranging from $100,000 to $5 million and terms up to 30 years, investors have the flexibility to finance new acquisitions or renovations with ease.
While Baselane operates as a digital-only platform, which may not suit those who prefer in-person banking, its comprehensive suite of services and user-friendly interface more than make up for the lack of physical locations. For real estate professionals looking to streamline their financial operations and maximize efficiency, Baselane is an outstanding choice that deserves serious consideration.
To learn more, check out Baselane here. And happy renting!