Where to Keep Cash While Searching for Next Deal?

[Derek Luttrell]

Hi Everyone, 

I feel like this is sort of a Catch-22 since, while searching the next (or first) deal, I feel like I'm losing out on potential interest while holding tens of thousands in a savings account (on top of 3-6 months of living expenses), but liquidity is also important to be a prepared buyer. Mentally, though, I also feel like holding a lot in my savings account is a motivator to step on the gas any get myself a deal, because the money is sitting there and waiting to be put to work. 

Once you have enough cash saved up for one, where do you stash it while on the prowl for a property? 

Thank you, 

- Derek 

[Thomas S.]

If you have a personal home you park it there and set up a HELOC for the maximum amount available. You then use your own money as a revolving line of credit.