You don't have to have an equal amount of money in different investments to be not "putting all your eggs in 1 basket". Also having properties in different locations does hedge your bets as not all locations behave the same. So yes the risk can be spread around.
e.g. $60000 deposit to secure a $300k property + $60000 invested in shares. In this case equal amounts of your money are invested. As for the risk that depends what property you buy or what share you invest in more than anything else + the length of time you intend on investing.
