Author Topic: Career Advice + Saving for rental property...  (Read 1202 times)

the-seneca117

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Career Advice + Saving for rental property...
« on: August 27, 2014, 02:45:24 PM »
Hi there, Mustachians!

I am fairly new to this community, so a bit about me: I am 20 and about to embark on a new career as a real estate agent (so any advice some of your senior Mustachians have for a newbie would be very much appreciated!) I am very much interested in having a rental as the backbone of my portfolio. Any ideas on where to park money while I am saving for such a purchase? I assume money market and COD are common answers, would something like a REIT or Index Fund be a good place for two or three years? That way the dividends could be reinvested until I am ready to invest in a piece of physical real estate. Thanks for any and all advice! Trying to retire by 30 the way MMM did!

-Seneca 117

MillenialMustache

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Re: Career Advice + Saving for rental property...
« Reply #1 on: August 27, 2014, 02:51:35 PM »
When we were saving for our rental, we had the money in an index fund. That doesn't make it right, but we turned out ok, lol. It made the money grow faster and we just pulled it out about a week before the sale.

arebelspy

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Re: Career Advice + Saving for rental property...
« Reply #2 on: September 03, 2014, 09:54:32 PM »
Hey the-seneca117, you aren't getting too many answers for a few reasons:
1) This question has been asked a bunch before (where to put money when saving up for a house).  Do a search and you'll find dozens of threads with answers. More interesting/unique questions tend to generate more responses.

2) You pretty much already laid out the options in your first post - invest in something with higher risk/higher reward and potentially earn more but potentially lose money or invest in something that won't lose money, but will have a lot lower return (likely negative real, such as CD or MMA).

Hope that helps.

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