Author Topic: I now have 175K in my checking and savings accounts  (Read 1314 times)

clarkfan1979

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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.

force majeure

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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…

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Dicey

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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.
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spartana

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Re: I now have 175K in my checking and savings accounts
« Reply #3 on: November 26, 2017, 09:16:44 AM »
I also normally have around $30k in a money market saving account but now of a hugely ridiculous amount due to selling house. Not sure what I want to do yet so haven't invested it. Soon though I'll invest at least half or 75% somewhere and leave the rest invade I want to buy another (much lower cost) house next year.
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