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Updated over 2 years ago,

User Stats

15
Posts
6
Votes
Cameron Philgreen
6
Votes |
15
Posts

Where do you store your security deposits for growth

Posted

Random question!  It's just recently occurred to me that I'm regularly holding $10k+ in security deposits.  I'm sure many of you are holding $50k, $100k or $200k in security deposits.  What would be a good place to put this money so it's "out of sight, out of mind" and also could get us a little return?

Obviously I / we could "invest" this money for rehabs, maintenance, operating costs, etc, but frankly, I don't trust myself, and I'd rather set it aside until it's time to pay back the tenant.  Any ideas?  CD?  High yield 12 month savings?  What do you guys do?

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