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Updated over 2 years ago,
Where do you store your security deposits for growth
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?