Author Topic: Best savings vehicle for first rental property?  (Read 763 times)

plaman

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Best savings vehicle for first rental property?
« on: March 18, 2017, 11:44:43 AM »
I am going to buy a multi-unit rental as my first property purchase in the next 2-3 years. What is the best vehicle for accumulating this capital. Should I be using some type of taxable investment account or am I better served by borrowing from tax deferred accounts? For reference I have roughly 10k in cash right now.

Also, any general tips for this daunting task of saving from -$50,000. (Student loans) to $100,000 for a down payment on a decent rental in my area? Thanks everybody!
« Last Edit: March 18, 2017, 11:48:48 AM by plaman »

SwordGuy

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Re: Best savings vehicle for first rental property?
« Reply #1 on: March 18, 2017, 03:49:36 PM »
You are planning on going from -$50,000 to +$100,000 in 2-3 years?   What's your income? 

waltworks

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Re: Best savings vehicle for first rental property?
« Reply #2 on: March 18, 2017, 07:17:33 PM »
Assuming you have the income to do this at that speed, an answer to your actual question: Savings account or CD.

-W