How would you put $100K to work now?

[Jon Klaus]

If you opened your mailbox today and you received a windfall check for $100K (no tax due), how would you invest it?

Criteria:
Must be invested in real estate (or related)
Must be invested by 1/31/09
Should have a way to get back to cash by end of 2010

Ah, so many options, but here's one: Buy an empty 4-plex (or 1-2 units rented) that needs light-moderate rehab. Spend $70K for the RE and $20K-$25K on the rehab. Lease it up for $2500/mo. Collect the rent for most of the next 2 years and then sell to an investor at the end of 2009. Hopefully it sells for a cap rate of 10, bringing in $150K as well as the income in the interim.

No, I didn't finance this deal but you can finance yours.

What's your $100K deal?