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Updated almost 5 years ago on . Most recent reply

User Stats

188
Posts
377
Votes
Clint Harris
  • Investor
  • Carolina Beach, NC
377
Votes |
188
Posts

What to do with 1 million cash for 6 months?

Clint Harris
  • Investor
  • Carolina Beach, NC
Posted

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?

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