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