Shared Top Border
sdcia_head3.jpg (14795 bytes)
SDCIA Message Board
Sign up Latest Topics
 
 
 


Reply
  Author   Comment  
Paul

Senior Member
Registered:
Posts: 2,086
Reply with quote  #1 
Got cash?

Where are you putting it?
rickencin

Avatar / Picture

Senior Member
Registered:
Posts: 1,062
Reply with quote  #2 
I still have money in CD accounts paying 1 - 10 basis points (.01% - 1%) as well as stock market indexed instruments (not a great year).  So, this topic is of great interest to me.  One interesting idea:
The 5 MOST PROFITABLE Savings Accounts of 2019


Then there is the standby Treasury bills, bonds etc. of varying term.  I'm sure you know this, but for the newbie lurkers,  an important strategy is laddering.  Let's say you have $500,000 and need $50,000 a year income.  You put $50,000 in a low paying liquid (immediately available) FDIC insured account.  You put $50,000 in a better paying 1 year Treasury or FDIC insured account.  You put $150,000 in a 2 year account.  (At the end of two years you have $150,000 liquid, enough to last three years and can re-ladder if you want.)  You can put the rest of your $500,000 account ($250,000) in a 5 year account.  Of course you can play around with various safety margins.

I have an Amazon Prime online account with Synchrony and it has worked out fine.  Otherwise, I  have no  experience with any of these banks.  

__________________
Rick
Paul

Senior Member
Registered:
Posts: 2,086
Reply with quote  #3 
I've had a Marcus (Goldman Sachs) account for a year or so. I've had no problems.

I'll probably park some cash in Iron Bridge Lending. They pay 6%, redeemable with 30-day notice. Min deposit is $50K. My first pass on due diligence is promising.
javipa

Avatar / Picture

Senior Member
Registered:
Posts: 3,380
Reply with quote  #4 
I honestly do not understand parking cash.

There's too many ways to make money than to lazily park it, where it declines in value.

I'll gladly pay anyone six percent annually, if you want to park money.  I've got secure positions I'll put you in, but you've got to agree to a 60-month term.

Must be a California resident.



__________________

"Obstacles are those frightful things you see when you take your eyes off your goals." --- Henry Ford "

"149 Ways (Plus One) To Find Motivated Sellers and Get Them To Find You" >>>Click Here To Download 

Paul

Senior Member
Registered:
Posts: 2,086
Reply with quote  #5 
Quote:
Originally Posted by javipa
I honestly do not understand parking cash.

There's too many ways to make money than to lazily park it, where it declines in value.

I'll gladly pay anyone six percent annually, if you want to park money.  I've got secure positions I'll put you in, but you've got to agree to a 60-month term.

Must be a California resident.




Jay, Iron Bridge is 6% but only "locked up" for 30 days. Your deal is 60-month. That's very long-term parking.

Everyone parks cash, in different amounts.
javipa

Avatar / Picture

Senior Member
Registered:
Posts: 3,380
Reply with quote  #6 

I'm not saying I'm competitive, just secure and reliable.  I forgot to mention that my account minimum is $250,000, not $50,000.  $50,000 would be a nuisance to administrate, and practically impossible to reliably secure against a fixed asset.

You can see that I'm only interested in doing easy, secure deals, and not babysitting someone's petty cash account.

FWIW 

  


__________________

"Obstacles are those frightful things you see when you take your eyes off your goals." --- Henry Ford "

"149 Ways (Plus One) To Find Motivated Sellers and Get Them To Find You" >>>Click Here To Download 

Paul

Senior Member
Registered:
Posts: 2,086
Reply with quote  #7 
Quote:
Originally Posted by javipa

I'm not saying I'm competitive, just secure and reliable.  I forgot to mention that my account minimum is $250,000, not $50,000.  $50,000 would be a nuisance to administrate, and practically impossible to reliably secure against a fixed asset.

You can see that I'm only interested in doing easy, secure deals, and not babysitting someone's petty cash account.

FWIW 

  



And only available through a broker dealer!!!! 
sofiahowell

Junior Member
Registered:
Posts: 11
Reply with quote  #8 

I have some of my money in real estate crowdfunding site.

Right now, Groundfloor has been good
with average returns ~8-9% paid monthly.
Minimum investment as low as $10.00:

1.png  


You can create an account here and receive $10.00 to invest

https://www.groundfloor.us/new_referral/uedeb7

https://www.groundfloor.us/new_referral/uedeb7
https://www.groundfloor.us/new_referral/uedeb7


__________________
Sofia Howell

Cash Buyers, Wholesalers, Private Money Lenders, Trust Deeds, Joint Ventures

https://www.solutionsformyproperty.com
Paul

Senior Member
Registered:
Posts: 2,086
Reply with quote  #9 
Please keep on topic. This thread is about parking cash. It's not about deals or investments. 

Javipa went astray talking about deals ... or whatever it was he mysteriously mentioned.
javipa

Avatar / Picture

Senior Member
Registered:
Posts: 3,380
Reply with quote  #10 
Quote:
Originally Posted by Paul
Please keep on topic. This thread is about parking cash. It's not about deals or investments. 

Javipa went astray talking about deals ... or whatever it was he mysteriously mentioned.


Yeah, sorry about that.  I don't actually take people's money and secure it against assets, and then pay 6% interest.  However, an HML will certainly do that, but with better rates. 

And with that disclaimer, and lame attempt to share an alternative, after violating the rules of this board like they were Indonesian sex slaves, I am done.

__________________

"Obstacles are those frightful things you see when you take your eyes off your goals." --- Henry Ford "

"149 Ways (Plus One) To Find Motivated Sellers and Get Them To Find You" >>>Click Here To Download 

Paul

Senior Member
Registered:
Posts: 2,086
Reply with quote  #11 
Quote:
Originally Posted by javipa


Yeah, sorry about that.  I don't actually take people's money and secure it against assets, and then pay 6% interest.  However, an HML will certainly do that, but with better rates. 

And with that disclaimer, and lame attempt to share an alternative, after violating the rules of this board like they were Indonesian sex slaves, I am done.


Why don't you just spell it out? What do you got to offer?

Why all the bluster? 

You put down the Iron Bridge Senior Notes I said I was looking into, but you present nothing, except some comments on how big time you are with requiring  $250,000 minimums.

I want somewhere to put money with 30-day liquidity. Got something transparent?
javipa

Avatar / Picture

Senior Member
Registered:
Posts: 3,380
Reply with quote  #12 

Really, Paul?

You want to have an online fight over this small subject?

I could care less what anyone does with their money, except that I feel that 'parking' it is not productive use of cash.

Now, I will say, few people know how to find a meaningful return for such a small amount, which I think is why you made your original post? 

Which makes pooling money their only option for securing a six-plus percent return short term.  I don't actually know for sure.

Meanwhile, if you find a place to park money for 30-days ...great.  They pay 6% without early-withdrawal penalties ...great.

That all said, if someone (in California) wants to finance one of my deals, and remain in a first position, I'm quite happy and willing to pay 6% interest in return for a relatively long commitment.

And just for giggles, the reason I would not want to do deals that are less than a quarter million dollars is because I don't invest in deals that are smaller than that, nor can I actually find very many of them that are that small anyway, that I would want to invest in.  I am open to suggestions...

That said, there are HML's that can find short terms commitments for smaller amounts of money, and on a case-by-case basis, offer higher than 6% interest.  It's all what the market will support.

Notwithstanding, there's a reason banks don't want to screw around with $50k mortgages.  It takes the same amount of time, money and skills to manage that amount, as it does to manage a $1M mortgage, and there's 'way' more money to be made, for the time spent, on the $1M mortgage. 

Which explains why it's relatively easier to get a $5M mortgage on investment property, than it is on smaller amounts.

But we're talking about parking itsy bitsy amounts of money, waiting for 'something' more interesting to come along.  Fine.  You do what you gotta do.

All I can add is that I just talked with my investor friend Rob, who creates and sells notes in Georgia.

This afternoon, he told me that he bought a BMW dealer trade-in for twenty-five-hundred-dollars, which was five-hundred more than the dealer offered the customer.

Without going into all the details, he asked his BMW dealer friend, if he ever had customers turn down his trade-in offers.  Of course, he said yes.  Rob told the dealer that next time, I'll offer five-hundred over your quote to the customer, and if they accept, they can use that money as a down payment on a new BMW.  The dealer thought that was a great idea.

A lady came in to the dealer and the dealer offered her $2000 for her low-mileage 2004 300 series BMW.  The lady said, 'no,' and the dealer suggested there was a third party that might offer more, and would she be interested in his offer.  She said yes.  Rob offered her $2500.  She accepted, and applied that money toward her purchase.

Rob drove the car to the mechanic to be inspected and licensed.  He asked the mechanic if he knew anyone interested in buying this car.  The mechanic said he would be interested.  Rob sold him the car for $6500 with $1000 down on a three year note.  

To sweeten the deal, he offered the mechanic 0% financing, if he paid off the car in 12 months. 

He did.  So, Rob turned $2,500 into $4000 equity profit in one day, which I don't have a calculator to determine that return.

How many cars can you flip with $50,000 available?  How many dealers get turned down on their trade-in allowances?  

Sure, the investment isn't as liquid as a 30-day commitment pushing off 6%, but it's better than parking money for a month at 6%. 

Never mind Rob flips motor home, mobile homes, and industrial tools, and anything else that's typically financed.

I'm out.  


__________________

"Obstacles are those frightful things you see when you take your eyes off your goals." --- Henry Ford "

"149 Ways (Plus One) To Find Motivated Sellers and Get Them To Find You" >>>Click Here To Download 

Paul

Senior Member
Registered:
Posts: 2,086
Reply with quote  #13 
Quote:
Originally Posted by javipa

Really, Paul?

You want to have an online fight over this small subject?

I could care less what anyone does with their money, except that I feel that 'parking' it is not productive use of cash.

Now, I will say, few people know how to find a meaningful return for such a small amount, which I think is why you made your original post? 

Which makes pooling money their only option for securing a six-plus percent return short term.  I don't actually know for sure.

Meanwhile, if you find a place to park money for 30-days ...great.  They pay 6% without early-withdrawal penalties ...great.

That all said, if someone (in California) wants to finance one of my deals, and remain in a first position, I'm quite happy and willing to pay 6% interest in return for a relatively long commitment.

And just for giggles, the reason I would not want to do deals that are less than a quarter million dollars is because I don't invest in deals that are smaller than that, nor can I actually find very many of them that are that small anyway, that I would want to invest in.  I am open to suggestions...

That said, there are HML's that can find short terms commitments for smaller amounts of money, and on a case-by-case basis, offer higher than 6% interest.  It's all what the market will support.

Notwithstanding, there's a reason banks don't want to screw around with $50k mortgages.  It takes the same amount of time, money and skills to manage that amount, as it does to manage a $1M mortgage, and there's 'way' more money to be made, for the time spent, on the $1M mortgage. 

Which explains why it's relatively easier to get a $5M mortgage on investment property, than it is on smaller amounts.

But we're talking about parking itsy bitsy amounts of money, waiting for 'something' more interesting to come along.  Fine.  You do what you gotta do.

All I can add is that I just talked with my investor friend Rob, who creates and sells notes in Georgia.

This afternoon, he told me that he bought a BMW dealer trade-in for twenty-five-hundred-dollars, which was five-hundred more than the dealer offered the customer.

Without going into all the details, he asked his BMW dealer friend, if he ever had customers turn down his trade-in offers.  Of course, he said yes.  Rob told the dealer that next time, I'll offer five-hundred over your quote to the customer, and if they accept, they can use that money as a down payment on a new BMW.  The dealer thought that was a great idea.

A lady came in to the dealer and the dealer offered her $2000 for her low-mileage 2004 300 series BMW.  The lady said, 'no,' and the dealer suggested there was a third party that might offer more, and would she be interested in his offer.  She said yes.  Rob offered her $2500.  She accepted, and applied that money toward her purchase.

Rob drove the car to the mechanic to be inspected and licensed.  He asked the mechanic if he knew anyone interested in buying this car.  The mechanic said he would be interested.  Rob sold him the car for $6500 with $1000 down on a three year note.  

To sweeten the deal, he offered the mechanic 0% financing, if he paid off the car in 12 months. 

He did.  So, Rob turned $2,500 into $4000 equity profit in one day, which I don't have a calculator to determine that return.

How many cars can you flip with $50,000 available?  How many dealers get turned down on their trade-in allowances?  

Sure, the investment isn't as liquid as a 30-day commitment pushing off 6%, but it's better than parking money for a month at 6%. 

Never mind Rob flips motor home, mobile homes, and industrial tools, and anything else that's typically financed.

I'm out.  



Jay, I asked about parking cash. We all know the term. 

Rick certainly does. He responded to the question asked in appropriate fashion. 

You started talking about investments or deals of some sort. Who cares? That's not the post.

You are wasting time, off topic, telling me about hard money loans. I make hard-money loans, buy hard money loans, first and seconds, and have a partial on a first. They're not liquid, short-term assets where you park cash. Rick's suggestions were. 

Do you realize that you've been critical of the sum of $50,000, as if I asked or suggested that was the amount I was looking to park? Do you realize I never asked about $50,000? In other words, you have no idea how much cash I have to "park."

In mentioning Iron Bridge, I said their minimum deposit was $50,000. Read it again.

Geez, you've turned a simple question into a cluster fuck.




javipa

Avatar / Picture

Senior Member
Registered:
Posts: 3,380
Reply with quote  #14 
You asked, "Got cash?  Where are you putting it."

Then you added that you were parking it.

Then I suggested a better alternative than parking it, and then you developed a vaginal rash over my response. 

You asked a question.  You got an answer.

Here's a discount coupon for Vagisil.

vagisil2.png 




__________________

"Obstacles are those frightful things you see when you take your eyes off your goals." --- Henry Ford "

"149 Ways (Plus One) To Find Motivated Sellers and Get Them To Find You" >>>Click Here To Download 

Paul

Senior Member
Registered:
Posts: 2,086
Reply with quote  #15 

Quote:
Originally Posted by javipa
You asked, "Got cash?  Where are you putting it."

Then you added that you were parking it.

Then I suggested a better alternative than parking it, and then you developed a vaginal rash over my response. 

You asked a question.  You got an answer.





Well, your reading skills failed you once again. 

First you blew it with the $50,000. You went on and on about only $50K when the post never said that.

Now you're confused and think "you added that you were parking it." Read again. The TOPIC HEADLINE reads "Where Are You Parking Cash Now?" Then the message follows with "Got cash? Where are you putting it."

Straight, direct, simple posted question. Rick got it right away. Easy.

I always thought you were sharper than this. It's getting boring pointing out your reading comprehension struggles.

javipa

Avatar / Picture

Senior Member
Registered:
Posts: 3,380
Reply with quote  #16 
That Vagisil offer expires pretty soon.  So, don't miss out.
__________________

"Obstacles are those frightful things you see when you take your eyes off your goals." --- Henry Ford "

"149 Ways (Plus One) To Find Motivated Sellers and Get Them To Find You" >>>Click Here To Download 

chatterweb

Avatar / Picture

Senior Member
Registered:
Posts: 332
Reply with quote  #17 
My Reward for filing my 2018 Income Tax return (extension until 9/15/19) is one of these fine products:

https://www.womanizer.com/us/womanizer-products

My boyfriend of 5 years recently passed away. He was a Scorpio and he loved to be between my creamy sweet thighs 

One of these products claims I can feel a mouth in between my creamy thighs...

__________________
Dogs have owners. Cats have staff.
larrywww

Senior Member
Registered:
Posts: 2,375
Reply with quote  #18 
Good to hear from you, Paul.

Thanks for your suggestion, excellent, as always, about where to park cash.

I am still in the process of exiting from the market so I haven't had much time for independent research.

I did figure out that I wanted to invest in trust deeds in the future.  The only problem is that there are much fewer deductible expenses for this type of business.  That is, unless you became a MLO / Safe act loan originator.  It's kind of a ripoff, pretty high fees and annual renewals, but I have decided to get the license since I am going to be doing this business in the future.  I was planning on attending the annual meetings for some of the note organizations to see if I could obtain more notes, but unfortunately most of these will occur in early 2020---right now it's kind of dead time of year for these conferences, at least in the west.  It's much more efficient to go to a meeting of noteholders than trying to contact them on a one by one basis.  But there is a relative dearth of  notes right now.  I don't really desire to participate in the Norris Florida note pool since I do NOT want to tangle with Florida's judicial foreclosure requirement---and unfortunately most of the Norris Group notes going forward will have this same problem.  This would give the borrower alot of leverage in the event of a default.  And some states have a statutury right of redemption (not sure about Florida).

And unfortunately there are ALOT of judicial foreclosure states.  Nolo lists 22 such states (although some of them may be partial and/or require a further explanation).   https://www.nolo.com/legal-encyclopedia/chart-judicial-v-nonjudicial-foreclosures.html.

It is true that the Norris Group will have trust deeds for their California loans (a dwindling percentage off their overall loans).  But they give a priority to those who bought loans before----and if you haven't, it seems like the chances of even getting a California trust deed from them may not be great.  And if all of the former buyers---then there may be something wrong with the trust deed.

And then there's the problem that alof notes right now appear inflated in value.

Also, I am thinking about obtaining an insurance license to figure out if there is anything worthwhile to invest with insurance products.

But these look more like works in progress at this point.
rickencin

Avatar / Picture

Senior Member
Registered:
Posts: 1,062
Reply with quote  #19 
Just for the record the classic place to go for cash rates is Bankrate.com
https://www.bankrate.com/cd.aspx
If they only show a few "featured rates" look for the "all rates" link.


__________________
Rick
Robertbouffad

Junior Member
Registered:
Posts: 40
Reply with quote  #20 

GENUINE BANK GUARANTEE (BG) AND STANDBY LETTER OF CREDIT (SBLC) FOR BUY/LEASE
AT THE BEST RATES AVAILABLE

We offer certified and verifiable bank instruments via Swift Transmission from a genuine provider capable
of taking up time bound transactions.

FOR LEASING OF BG/SBLC
MINIMUM FACE VALUE OF BG/SBLC = EUR/USD 1M
LEASING FEE = 4%+2%

FOR PURCHASE OF FRESH CUT BG/SBLC
PRICE = 32%+2%
MINIMUM FACE VALUE OF BG/SBLC = EUR/USD 1M

Our BG/SBLC Financing can help you get your project funded, loan financing by providing you with yearly. RWA ready to close leasing with any interested client in few banking days
renewable leased bank instruments. We work directly with issuing bank lease providers, this Instrument can be monetized on your behalf for 100% funding: For further details contact us with the below information.

Contact name: Robert Bouffad

Email : robertbouffad358@gmail.com

Skype : Robert Bouffad

 

Previous Topic | Next Topic
Print
Reply

Quick Navigation:

Easily create a Forum Website with Website Toolbox.

Policy