Updated over 5 years ago on . Most recent reply
Reserves for job lay off & rentals....
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?
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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