New to Real Estate · Corona, CA · Member since 2020 · 19 posts · 10 votes
Hey BP fam,
I am currently saving up to buy my first OOS deal and its taking a bit longer than I expected. I am able to save a couple thousand a month, but I am still a ways away. This made me start thinking that instead of just having that money sit in a high interest savings account, where else can I have my money grow while its waiting to be used to buy an investment property?
Possibly a dividend stock account, very conservative growth stocks, etc, etc. What do you guys do while you are saving up for a long time?
I use Vanguard. I park money in the money market account. Then on market dips the 0 commission etf’s are great just for a little excitement. Or move into mutual funds from the MM account. Or just leave it parked in the MM for an emergency fund. Super easy setup & quick transfers to & from your bank account when one needs the cash.