My wife and I are building up our savings account in preparation for buying our first multi-family.. I'm curious where folks like to keep their savings for down payments? We’re currently getting about a 1% return with our banks' savings account, but wondering if we should move the money into a different passive investment vehicle like an ETF fund to get better returns while we’re looking for the right deal?
One of my bigger concern is not knowing how difficult and how long it takes to liquify a fund and have the money ready for the down payment? Plus what kind of fees are associated with doing so? Money kept in a savings account is obviously free and easy to transfer. Any advice would be much appreciated!
Ally is currently paying 1.8% and Discover is 1.75 with a $200 bonus for depositing 25k. No minimum required to maintain.
@Chris Petzy ETFs put your capital at risk so it depends on if you're ok with said risk. Market volatility could rear it's ugly head.