All Forum Posts by: Matthew DeMichele

Hi everyone,

I'm just starting out in my real estate journey and beginning to save up money for an initial down payment on my first rental property. Because I have one more year left in my undergraduate education, I'm not planning on buying the property this year. My goal is to continue saving for the next 1-2 years until I'm done with my degree and am fully ready. 

My question, then, is where is the best place to park my down payment savings for the next 1-2 years? 

Currently, I have about $5,000 sitting in a high-yield savings account at an interest rate of 2.55%. Ideally, I'd like this money to be working a little bit more for me during the next 1-2 years, while still having the ability to access it when I'm ready to buy a rental. I've considered moving this money into I Bonds, but am wondering if there are other places I should keep this money. 

Would love any and all suggestions. Thanks!

Wow, thanks so much everyone! Seriously, so many great recommendations. Can't wait to get into all of those. 

Just to contribute something of my own to the discussion, here's a few books I've been reading:

- Mastering the Market Cycle by Howard Marks

- Against the Gods: The Remarkable Story of Risk by Peter Bernstein

Like some of the other recommendations, they're not real estate specific, but I'm finding that getting a broad understanding of financial history is helping me find my footing in the multifamily world. 

Thanks again you guys! 

Thanks @Jeffrey Donis! That's insanely helpful! Actually just started reading the Hands Off Investor. Will definitely check out the other resources once I'm through with that. 

Hey all! I just started working for a real estate syndicator and am beginning the process of getting as much education on the subject as I can. Do you have any books or resources on the subject that you'd recommend? I know the question's been asked a bunch of times, but I'm a nerd and love finding as many resources as I can.