Where to put our cash before investing
Hello BP!!
Is there a good place to hold money to be used later on to buy properties? I mean, a bank's savings account is out of the question, right? I need some place it can earn some interest while being liquid as well.
Thanks in advance, everyone...
Most Popular Reply
Depends - on how much & how liquid you want it to be.
Banks - Ally is safest @ gives 1%, cds/ local credit unions around 2%, lmcu(lake michigan cu) - 3% till 15k I think, some prepaid cards give 5% with some work(check doctorofcredit blog)..
I have no affiliation to any, I do a mix of all above but depends on your comfort level.
You can also lend your money on peer lending websites or be a hard money lender for higher interest for longer terms..
Hope it helps!