Where to store cash in between doing deals?
I have several properties that are constant cash generating assets and I have yet to find a deal I want to spring for. So basically these various property’s are pumping out cash but the cash is sitting in low yield bank accounts. What do you guys suggest I do with my cash so it yields steady and safe returns in between doing acquisitions? I can keep it in the entities’ accounts but I would prefer to generate some returns instead of just having a lump sum of cash sitting and generating virtually nothing. Any advice is much appreciated
Mattress
High yield savings baby
For sure HYSA or money market, these offer safe and steady returns while remaining liquid enough for you to access the cash when a potential deal arises
I picked a couple banks that would underwrite me when the time came and needed deposits. I then split the deposit amongst them. You should have no problem finding banks to put you into money market accounts yielding 5%+
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