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