I have 30K to invest,that I plan on using for a downpayment on a house,what are my best options of investment?

I would assume I'd be buying a house in the next 6-10 months. I'm thinking a 6 month CD, I just wanted to see if there were any other ideas that I hadn't come up with.

how long until you purchase the house?
this seems to be money you do not want to lose, don't risk it

stick it in a money market or online savings account, make about 5% interest with no risk,

normally i would say invest in mutual funds but since you have a specific need for the money then just keep it in safe places like CD's or savings

EDIT: be carefull of advice like the one here saying to stick it in risky investments, usually its a scam, even when it isnt you dont want to risk your house for a few extra bucks right now do you? seems like alot of people come here saying they have a couple of months they want a safe return,then the answers they get are to invest in things like the iraqi dinar or other stuff like that, this advice would get a financial planner fired on the spot, it makes zero sense for the person's objective, just because you like to risk your money doesnt mean its great advice for someone that needs to keep it safe for a downpayment on the house

what if he needs the 30k for a downpayment,then right before he needs it the investment loses just a few %, all of the sudden he has to come up with extra cash or not get the house, keep it safe,get your house and be happy, then invest long term and not in little schemes online to try and cash in

Buy 30k of bank shares use that as security and get a much cheaper rate on your mortgage .

daveramsey.com

Have you ever looked into buying real estate notes? you can get a return of 10%...15%..20% or more. there are several companies out there that can help you do that. Don't do what everyone else does and look to secure a 3-5% return... make your money make money for you!

Since you will need quick access to the funds, my suggestion would be to check out online banks such as EmigrantDirect.com, or MetLife.com, which pay about 5% APR right now. This would earn you about $1250 interest in 10 months and there is no penalty for early or full withdrawal of funds. And the transfer of funds from the online bank directly to your bank account is completed online within about 3 days. (Setting up the account will take you about a week to 10 days although the process is very simple to complete.)

In all honesty, I'm in no position to tell you how to invest it. My advice to you is to speak to a bank about your plans and let them guide you. Sure you want your nest egg to grow but you are adverse to risk so your rate of return is not going to be that great for a short run. Good luck!

I've recently put 60K into a investment saver account because i too am looking for buy a house in the next year or so.

6.80% return pa guaranteed, no fees and most importantly....no risk.

Interest is calculated daily, paid montly so I deposit my entire income into it each fortnightly pay to boost interest and will draw little amounts as required for daily living expenses. I have also kept a couple of grand in normal bank account for emergencies because transferring to and from the investment can take a few days.

I can close the account when I want without penalty unlike those term deposits which lock your money away for a set period. This is particular good as I might I find a property I like at anytime.

abetterdeal.com.au

You will get very good mortgage deals .Would advise you to buy a home in the places where the house prices go up quicker and make good profit of that .Write in details at kishaloy_bhowmick@yahoo.com

regards,
kish