Author Topic: Where to put $$ between selling old home and buying a new one?  (Read 1494 times)

brh

  • 5 O'Clock Shadow
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Hi All,

We are currently selling our house at a profit, and moving to a new state. We will be renting/managing property for my brother-in-law for some period of time until we find an investment property to sink our earnings from this house into. It could take 3 months, it could take 2 years. . .

In the meantime, where should we put this money. It'll likely be about $70k. We want to earn on it, but still access it once we find the right property.

Thanks!
becca

viper155

  • Bristles
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Re: Where to put $$ between selling old home and buying a new one?
« Reply #1 on: May 25, 2014, 05:01:32 PM »
Well, the rule of thumb I've always lived by is if it's long term, 5 years or more, invest in a mutual fund. If it's short term, less than 5 years, put it in a money market fund for liquidity. You have an interesting problem on your hands. Let us know what you decide to do....sorryI couldn't be of any real help!

SDREMNGR

  • Bristles
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Re: Where to put $$ between selling old home and buying a new one?
« Reply #2 on: May 25, 2014, 05:08:59 PM »
For a 3 month to 2 year period, I'd park it in a savings acct.  I found GE Capital give 0.95% which is as good as any right now.  CAPITAL One also gives a decent rate.

shellyrr

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Re: Where to put $$ between selling old home and buying a new one?
« Reply #3 on: August 17, 2014, 07:27:08 AM »
I agree the capital one account US decent.  Another thing I like about them is they give money to you fir referrals.  Maybe you can convince some of your relatives to open an account.