Cash in hand...now what?

[Pavlos Kasselouris]

I have a good amount of cash sitting from a cash out refi, and now I'm torn how to proceed. Currently I have 3 rental units, out of which #1 was successful rehab, #2 basic things, #3 turnkey . 

Scenario A: Continue purchasing cash flowing properties with my partner financing conventional 75% until I dont have any more downpayment money. Problem with this is that deal are very very few.

Scenario B: Go solo and find a flip through a wholesaler, work with a hard money lender, and then cash out refinance, go to the next one. Risk is a lot more, but also reward...

Scenario C: Do the same as B but with my partner so we dont have to use any lenders and be more comfortable with time. My only complain is that my partner is very slow-busy-not motivated as much...

I have a day job, but have people and systems in place to handle the project comfortably 4 hours away... 

[Gregory Emmer]

A@Pavlos Kasselouris I think the first item you have to reconcile is whether or not your partner is dead weight...sorry to be so blunt.  This individual is clearly holding you back, to the point where you have to re-think your business mode.  At the end of the day, it's all about how much risk you want to take.  If you want to be more risk-adverse, then I would find another partner altogether.  There are plenty of cash-rich individuals out there clamoring to get into the real estate business, they just don't have the knowledge.  But you do.  Find these people online at BP, local investment club meetings, etc...That, or go off on your own which you said was an option....bias opinion upcoming: hard-money is not bad if you utilize it properly.  Staying in a hard money loan any longer than a year is not the intention of hard money.  However, if it ensures that you can close on a property, and that property, even with the higher holding costs, will be profitable in the long run, then it pays to go with Option B.  Only you will be able to do this financial analysis on a case-by-case basis.  One final thought-always cover your downside, and think worst-case.  As they say, the upside takes care of itself.  Good luck!