Where do you keep your down payment savings?

[Vennis Hong]

Hi everyone,

I'm a graduate student looking to start investing in rental properties after a couple years of working and saving for a down payment. My savings so far have been going into my regular savings account, but since this money will be sitting around for a couple years before I can afford a down payment, I'm wondering whether it'd be worth putting the money elsewhere in the meantime. So I'd like to ask the community where you keep your savings for a down payment and what other options might be more efficient (but safe) than a regular savings account.

Thank you!

Best,

Vennis

[Dusty Sanguinetti]

@Vennis Hong if you are looking for a safe place you most likely won’t make a great return. I’m in your situation also, I found that PNC banking offers a 2.33% fdic insured savings account. It’s not great but it’s the safest I could find for a decent return. I thought about prosper or lending club but just didn’t quite trust it. Another idea is to maybe diversify your savings into prosper, money market, and fdic insured savings.