Saving for a down payment on my first BRRRR property
Hello all,
My name is Jacob McMahon, I am 21 years old currently saving for a down payment on my first BRRRR property (probably a JV). My goal is to save 60k for a down payment, but I am having trouble deciding the most efficient ways to save it. I currently save roughly 50% of my income to a vanguard index fund (VTSAX), and my emergency fund is fully funded. I should be able to reach a portfolio value of 60k in my index fund within 4 years, but it's a very large opportunity cost to fund a down payment with my stock portfolio. It seems that the safest way to save for a down payment is in a low interest bank savings account, but that would take much longer. Would it be beneficial to switch my saving strategy over time? i.e. Save 50% of my income in my bank savings until it reaches 10% of the down payment, then fund the rest with my index fund. Does anyone have advice for savings strategies for my first down payment?
Jacob McMahon