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Updated 10 months ago on . Most recent reply
Investing security deposits
Hey BP folks! Curious about potentially investing some of our tenant security deposits in CD's. Was thinking of taking about half of the deposits we currently have and doing some short term (12-24 month) CD's as a revenue stream. Does anyone have any experience with this? If so, curious about thoughts and if it is a good equitable transaction. Appreciate it!
Most Popular Reply
Quote from @David Walton:
Hey BP folks! Curious about potentially investing some of our tenant security deposits in CD's. Was thinking of taking about half of the deposits we currently have and doing some short term (12-24 month) CD's as a revenue stream. Does anyone have any experience with this? If so, curious about thoughts and if it is a good equitable transaction. Appreciate it!
1st off NO, what if you have to evict, then you will get pre-payment for early withdrawal. 2nd so you want to profit on the tenants SD? Why even think about this? Why make more work, things more complicated. ? Why have to (assume you do) talk with tenants about this? PM is complicated enough, why make it more
All the best