Savings account w/ same or next biz day wire transfer

[Nicholas N.]

Looking to park $100K-200K$ and earn interest. If I win a foreclosure auction I need to be able to wire-transfer that amount of funds to the court's account the same/next business day. Otherwise you loose the auction and your deposit. Most high yield savings or interest-earning checking accounts I looked into seem to have a $25K/transaction limit or 2-3 business days for wire. Any suggestions? Where do you all keep your foreclosure auction money, earn interest and still be able to wire them quickly? 

[Account Closed]

Originally posted by @Nicholas N.:

Looking to park $100K-200K$ and earn interest. If I win a foreclosure auction I need to be able to wire-transfer that amount of funds to the court's account the same/next business day. Otherwise you loose the auction and your deposit. Most high yield savings or interest-earning checking accounts I looked into seem to have a $25K/transaction limit or 2-3 business days for wire. Any suggestions? Where do you all keep your foreclosure auction money, earn interest and still be able to wire them quickly? 

You are stepping over dollars to make pennies. A few days interest in a bank and then lose a great deal is not how you make money in real estate. If you want "safe" and low interest you keep your money in the bank at a "high" interest account that means you might lose a deal or two. On the other hand, if you keep you money in an account where you can transfer it fast when you need to, the profit overwhelms the few dollars you would have made in a "high" interest account.

You are either "in the game" as a real estate investor or you are not. You needs funds available if you are going to chase foreclosures.