Author Topic: I now have 175K in my checking and savings accounts  (Read 1734 times)

clarkfan1979

  • Handlebar Stache
  • *****
  • Posts: 1681
  • Age: 39
  • Location: Kauai & Denver
I now have 175K in my checking and savings accounts
« on: November 24, 2017, 10:15:45 AM »
My wife and I normally have 30K in our savings and checking accounts. However, this week we have 175K.

I ended up doing a cash-out refi on a rental property. I got a slightly lower rate from 4.7% to 4.625%. My payment increased from $985 to $1575. Rent is $2200/month. I pulled out 145K, so we now have 175K in liquid cash. It felt pretty cool the first week, but now it just feels normal. We are looking at purchasing a primary home with the money. If enough money is left over we will be looking at purchasing a 3rd rental property.
Kauai in the Winter & Denver in the Summer

force majeure

  • Stubble
  • **
  • Posts: 116
  • Age: 43
Re: I now have 175K in my checking and savings accounts
« Reply #1 on: November 25, 2017, 01:54:23 AM »
Yeah, I had a multiple of that amount in my checking account for a few months. I kept getting calls from the bank about it.
Talk about hassle.
I was researching asset allocations and did not get around to allocating for a while.
p.s. I get this from friends a lot…

"What will you do?”
"Whatever the hell I feel like doing on any given day."

Dicey

  • Walrus Stache
  • *******
  • Posts: 7920
  • Age: 60
  • Location: NorCal
Re: I now have 175K in my checking and savings accounts
« Reply #2 on: November 25, 2017, 11:15:23 PM »
LOL, our bank has been put on notice to leave us the fuck alone. We do not want to become "Private Clients". We do not want investment advice. We have a plan for the money, and it's none of their business. Sheesh. I feel your pain, man. FWP all the way.
I did it! I have a journal!
A Lot Like This
And hell yes, I am still moving confidently in the direction of my dreams...