Use My Money or OPM?

[Philip Bourdon]

In September I will be 59 1/2 and plan to utilize my 403b for REI. The amount I will have to use after taxes is between 90-100K. My chief desire is to buy ( and hold for at least 5 years) multi-unit house (preferably 3 units or perhaps 2). My credit is awful and I will take some of that money (already accounted for in that above total) is straighten it out.

Should I be looking for OPM instead? How hard would it be to "refinance" with a conventional loan after a year or so (enabling me to have cash to buy more). I know that most successful investors use OPM, but I do have it and I'm assuming that if I have a track record of good investing, it will enable me to get OPM in the future. Thoughts?

Thanks,

Philip

[Rusty Thompson]

I hope you don't find this rude... but at your age pursuing a "aggressive" investment strategy is a very large risk.
But lets start from scratch...

Do you own a home? How bad is your credit? Do you have a foreclosure? What is your # (I.E. how much passive income is enough for you to be comfortable)What is the medium home price for your area. What are your long term retirement goals... Is there any other information you would like to provide?

Without a complete picture any advice is incomplete at best, and down right harmful at worse.