What do you do with your cash flow?
Hi BP Community,
This year in June I purchased my first buy and hold property - a duplex. I know that it is important to have cash reserves set aside for unexpected issues that may arise with the property. However, should I just be sitting this money in the bank account that I have set up for it or investing it in some type of investment account so that it grows faster? If so, what type of investment account? Is that what the self-directed IRA accounts are for? I am wondering if there is something that I am not doing that I should be doing besides just saving it in the property savings account that I have. Right now all I do is collect the rents from the property management company each month and have the mortgage payment coming out just the same. Thanks for your advice!