Updated over 6 years ago on . Most recent reply
What to do with excess cash?
So I have a good problem...I am running 2 short-term rentals and they are producing a large amount of excess cash which is currently sitting in a business savings account doing nothing.
I have mortgages on both properties. First is a 30-year ~3% and the other is a 15-year ARM at 4.375%. The savings account is giving me 0.4%.
I am not interested in buying another property at this time and I would like to do something with the money instead of it just sitting there. The easiest option I see is paying off more of my mortgage each month.
What would you suggest? Thanks!
Most Popular Reply
@Chris Mason yep this was my exact thinking...got the oh crap fund fully loaded and I don't like lending my money out at almost 0%. Just wanted to make sure I wasn't missing some magic math equation with regards to tax deductions or something like that.
@Hai Loc I wouldn't be against investing the money in notes but I have done zero research into that...perhaps some light reading is in order
@Matthew Paul I already have all the nice things I will ever need :-)