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Updated about 6 years ago,

User Stats

20
Posts
9
Votes
Kenny McCarty
9
Votes |
20
Posts

What to do with excess cash?

Kenny McCarty
Posted

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!

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