500k cash and not a lot of time - what do you do with it?

[Natalie Schanne]

What should we do with $500,000 cash borrowed at 3.5%?

My partner and I are completing cash out refinances of some properties where we will have at least $500k cash to invest. Market is hot and I haven’t seen anything I’m excited to buy. I don’t have a lot of spare time. We recently both became accredited investors. My recent investments have been in single family homes near to me. I would love to buy an apartment building or other commercial asset but they’re all very expensive. Trends in my area are negative - sort of - lots of people are leaving New Jersey yet we are also experiencing LOTS of new apartment building and the job market is pretty solid between government and pharmaceuticals. I’m not sure if I should just throw it all in the stock market (which is also at record highs but my portfolio grew 20% last year just in S&P trackers where I did nothing.)

What would you do with $500,000 borrowed at 3.5% for 30 years?