Unlimited Money to Invest. Now What?
Ok guys, this may be kind of a strange post. So I am an active (full time agent) real estate broker in Alabama. I have flipped countless houses. I own a pretty big portfolio of single family and small apartment complexes. I also own a property management company that has been open about four years and manages 150 or so properties for other owners. I also own a couple of small businesses where I am half owner and have a managing partner on those who handles the day to day operations. I say that because I have been presented an opportunity.
I have some investors that I partner with from time to time and we will do deal, make money and part ways until the next project. Things have always gone great and been profitable for everyone and still are going good.
Now, one of my investors is coming to me and wanting to create a business. He is open to pretty much anything. House flipping, commercial, apartments, businesses. He just wants it to be a formal business and not a one time project. (Essentially, open a quick books, leave the money invested with quarterly draws, long term type deal) I have no idea what to offer him or how to structure it. Things have always worked good on the one time projects so I'm not sure if he gave me lets say, 2 million dollars that I could even FIND enough good projects to keep that money making more. Or that I could have enough contractors to do the work.
I thought maybe I should find us an apartment complex but I feel it's in a bit of a bubble. Then I thought about doing a strip center development but the closes I've come to anything like that is negotiating commercial leases. Flips are slow growth, at a typical flip being 3-6 months in length and not having a whole lot of deals out there in my area. I typically ALREADY do 4-6 flips at a time on my own or with various partners.
Any suggestions on a business structure or area of real estate or business to look into?