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What to do with 1 million cash for 6 months?
Just had a call from a friend and future partner who is under contract to sell a small boutique hotel and a triplex. After taxes he’ll be sitting on 1 mm in cash, and there is probably 6 months before the next deal that we take on. What do you do with a million in cash for 6 months? Stock market is obviously out. Unfortunately there are not very good options for short term cash. Interest rates were cut in light of coronavirus by 75%. Keeping money in cash is probably the safest thing you can do only because investing in bonds right now is a complete crapshoot. CDs are the safest option, but there has to be a better option. Short term hard money lending?? Maybe for a couple hundred, but 1 mm is too much to underwrite. What would you do?