best place to hold money before purchasing your next rental

best place to hold money before purchasing your next rental

Member since 2018 · 1 post · 0 votes

where are the best places to keep money while you are waiting to purchase your next property. I have some money sitting in the bank and I'm anxious to put it somewhere to earn a little extra income while I am waiting to find my next property. Should I put it into a vanguard index fund? 

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  • Rental Property Investor · Medford, MA · Member since 2016 · 288 posts · 171 votes
    7y

    Find a high-yield savings account. Stock market just rallied like a son-of-a-gun, I would not be putting money that you need in the short term in something that's hitting high's like the S&P500. I use FNBO Direct, an online & mobile bank, they have 2.25% right now which is decent, not the best but you want to keep your money safe especially if you're deploying it soon.

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