Where to park the Refi money?

[Zoe Lee]

This might prove to be a beginner's question. I hope to get some good advice.

We are closing our refi and will get funded soon. But it looks like it'll take us a while to find good rental properties with sensible return. But cash depreciates in value due to inflation. My question is:

What would be a better place to park the money besides our bank checking account? (Bury in back yard doesn't count... ;)

Thanks and regards,

Zoe

[David Faulkner]

This is why I prefer a HELOC ... you don't pay interest until you pull the money out, and you don't pull it out until you have something to do with it and at that point you can pull it out fast (next day) ... once you are done doing what you are going to do with it, then you put it back and stop paying interest on it. If you need to take it out long term, then you can refi it into 30 year fixed if you want after you've acquired and stabilized the new property/investment.