Thoughts on what to do with ~$150k

[Eddie C.]

Hello - just wanted to hear some opinions on what everyone would do right now with ~$150k. I've been looking for some buy and holds in the last year or so, but am having trouble finding something worthwhile. Two options I'm looking at are:

1) Payoff mortgage on 2 current rentals. One is currently a 30 year fixed at 4.25% and the other is a 15 year at 2.75%. Going this way would allow me to transfer the properties under a LLC (lowering risk, but minimal return - especially with the low interest rates).

2) Continue looking for multi-family properties while I leave the money in the market, investing in REITs and other Mutual Funds. 

I've been stuck in option 2 for the past few years, but am somewhat getting impatient/frustrated with not being able to find a good multi-family to invest in (would like something with a >9% CAP in a B class neighborhood).

Other notes: day job currently takes up a good amount of my time (so multiple smaller properties or any major rehabs are not preferred). Ultimate goal is to cash flow ~$15k to $20k a month in the next 10 to 15 years with rentals. Given that - what would you all do?

[James Masotti]

@Eddie C. - Sounds like given your capital availability and lack of time that being a money partner to someone would be a better opportunity for you. Have you ever considered doing a joint venture, participating in a syndication, or private lending?