Reserves for job lay off & rentals....

[Renee Lee]

I have three rentals with a mortgage payments, plus my own primary residence. I have another property free and clear. I have four months worth of reserves for mortgages. BUT I fully expect to be lay off from my job. That said, I pulled EVER dime out of my HELOC and transferred it to another bank. In the event that I nor my renters have jobs I can still pay all my bills for more than 6 months with my HELOC. Where's the question? Where's the best place to house this money?

[Harrison Sharp]

high yield savings account or money market account.  you won't be getting much yield though now that the fed essentially slashed rates to 0

[Alex Olson]

Originally posted by @Renee Lee:

I have three rentals with a mortgage payments, plus my own primary residence. I have another property free and clear. I have four months worth of reserves for mortgages. BUT I fully expect to be lay off from my job. That said, I pulled EVER dime out of my HELOC and transferred it to another bank. In the event that I nor my renters have jobs I can still pay all my bills for more than 6 months with my HELOC. Where's the question? Where's the best place to house this money?

 For now keep it in a fee free savings account or checking account. Make sure there is no fee associated with it. Once market clears up in a few months, you will have better options. 

[David Barnett]

Does your four months' worth of reserves include the HELOC that you pulled? If so, you really need to up your savings game if you think you are going to be laid off in the near term. If so, I would say you have bigger concerns than where to park your savings, and would instead focus on banking as much money as possible. I think you're in a pretty tough spot...

[David Barnett]

Does your four months' worth of reserves include the HELOC that you pulled? If so, you really need to up your savings game if you think you are going to be laid off in the near term. If so, I would say you have bigger concerns than where to park your savings, and would instead focus on banking as much money as possible. I think you're in a pretty tough spot...

[Matthew Paul]

@Renee Lee smart move , now in your game plan prepare to liquidate a property or 2 maybe all if necessary . Bouncing back with a great credit score is easier