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Updated about 6 years ago,
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!