Where to put money for down payment?
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Thread created 03-24-2012 by Linnx
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This is what I did with my DP monies that will be spent 6mo-1year (TIAA)
Where to put money for down payment?
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Thread created 03-24-2012 by Linnx
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I completely agree that the longer you invest in rentals -- the more profitable it is.
When it comes to the "being a landlord without hassle," we are going to have to agree to disagree. People...
Where to put money for down payment?
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Thread created 03-24-2012 by Linnx
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You can make great money being a landlord without hassle too. It all depends on how the landlord approaches everything involving their investment property.
Also, if the time horizon is long-term...
Where to put money for down payment?
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Thread created 03-24-2012 by Linnx
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If you can find a rental with good positive cash flow -- then it can be a great investment imo, but not without the hassles. One bad tenant can destroy your profit margins.
I write I lot about...
Where to put money for down payment?
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Thread created 03-24-2012 by Linnx
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^Your blog post sounds very biased, to be honest.
What about the potential rental income that can be made? Tax reliefs? Indeed, if we are only talking about 3.5% appreciation in price, housing...
Where to put money for down payment?
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Thread created 03-24-2012 by Linnx
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I am a 25-year old home owner and a finance blogger and I honestly find it hard to advise someone on how to invest their down payment for 6 months to a year since you are arguably about to make a...
Where to put money for down payment?
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Thread created 03-24-2012 by Linnx
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It depends on the CD. I was looking at their 7 year and if I recall correctly that bad boy had a 1 year penalty associated with it!
Where to put money for down payment?
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Thread created 03-24-2012 by Linnx
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Check your local credit unions. I'm in Oregon, and I get 2% on my checking account as long as I meet 2 requirements: At least 1 direct deposit (not a problem for me) and at least 10 or 15 debit card...
Where to put money for down payment?
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Thread created 03-24-2012 by Linnx
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Will do - yeah, I think they (PenFed) were just as bad as my credit union - 6 months, or something close to that, right?
Where to put money for down payment?
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Thread created 03-24-2012 by Linnx
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Of course - however, going through a bank shut-down is not an ideal situation for your supposed "liquid" assets. If the FDIC pays out on the deposits, you could potentially wait a bit of time for...
Where to put money for down payment?
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Thread created 03-24-2012 by Linnx
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I don't. I looked around for awhile and believe that PennFed's penalty wasn't that bad but then they changed it and made it horrible. If you find one lemme know :)
Where to put money for down payment?
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Thread created 03-24-2012 by Linnx
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"I like Ally a lot and already have a CD there; however, given their recent stress test failures and the state of affairs, I'd like to open this one somewhere else."
Even though one bank may not...
Where to put money for down payment?
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Thread created 03-24-2012 by Linnx
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Does anyone know of any other banks like Ally with a 2-4 month interest penalty? I agree with everyone here that it is an amazing way to "lock-up" your money, get an interest rate higher than...
Where to put money for down payment?
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Thread created 03-24-2012 by Linnx
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Hell to the ya! Ally only takes 2 months penalty, or atleast they did when I signed up for my CD. 2% even with a 2 month penalty doesn't take long to break even when you look at the short term...
Where to put money for down payment?
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Thread created 03-24-2012 by Linnx
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Put it in the highest-yield CD you can find, then pull it out when you need it. Check rates for different CD lengths, and check out what the costs are of pulling out early, but from what I've read...
Where to put money for down payment?
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Thread created 03-24-2012 by Linnx
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put it in a 6 month CD? but i guess that means you really cant use your money for 6 months.
Where to put money for down payment?
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Thread created 03-24-2012 by Linnx
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If you're going to need the money that soon (in 6 - 12 months), then you want to simply save the money. You do not want to risk the money in a mutual fund. I know you might not be excited about it,...
Where to put money for down payment?
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Thread created 03-24-2012 by Linnx
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I have saved up a down payment for a house which I plan to purchase within the next 6 months to 1 year.
Right now the best interest I can find is Amex savings at 0.75% APY. I know there me be...
