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Started By
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Money Market Accounts
Posted on 12/21/18 at 4:26 pm
Posted on 12/21/18 at 4:26 pm
New to this right now as I've started buying rental properties and want to know the best high yield account possible to use with the ability to pull any amount at any time to continue funding the account as it grows. Obviously many of these have a higher minimum and would be worked around, but I'm curious as to the boards thoughts on the best possible account type like MMAs?
Most I have found are hovering close to 1.75-2.25%. I don't think a short term CD is best as my partner and I have no idea when we will find a property best for us to invest in.
Thoughts? Thanks and Merry Christmas to all.
Most I have found are hovering close to 1.75-2.25%. I don't think a short term CD is best as my partner and I have no idea when we will find a property best for us to invest in.
Thoughts? Thanks and Merry Christmas to all.
3
Posted on 12/21/18 at 5:43 pm to MrJimBeam
The Capital One 360 Money Market account currently pays 2% if you have over $10,000 in it. FDIC insured. Easy to use via app or site, but you can only make 6 withdrawals a month.
Posted on 12/21/18 at 5:59 pm to MrJimBeam
PCOXX is a money market fund through Federated Investors that is currently paying 2.42. That is where my dollars are parked.
Posted on 12/21/18 at 6:55 pm to Twenty 49
Yep. I’ve got my solo 401k with them and their MMA is nice to hold money in until I NEED it for RE. I need to check the rates on my two other bank accounts. Hope Hancock Whitney has something close to capital one.
Posted on 12/21/18 at 7:51 pm to Fat Bastard
You can also spin some money off from the Cap One account to an online CD. I got 2.5% for 12 months recently. Now it’s up to 2.7%.
Posted on 12/21/18 at 9:06 pm to Twenty 49
quote:
I got 2.5% for 12 months recently. Now it’s up to 2.7%.
damn for a CD that is ok. especially 12 month based on what i have seen elsewhere.
Posted on 12/22/18 at 8:50 am to MrJimBeam
American Express online savings @2.1%
East Boston online savings @3%
Both of those linked to business checking. It does take ~3 days for money to move between accounts so keep that in mind
East Boston online savings @3%
Both of those linked to business checking. It does take ~3 days for money to move between accounts so keep that in mind
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