We currently have 2 million to deploy

[Corey Thompson]

We started buying mobile home parks in 2017. In 2018 we moved into small apartment complexes. We are basically using the BRRRR method to do this. We are refinancing out of 1.2 million in hard money loans. On top of that, one of our lenders wants to park 2 million with us for 2 years, interest only.

This glut of money is actually a problem.  We are still stabilizing 90 of out 300 doors.  24 of which are complete rehabs.  We need more human capital, and the pains of getting that human capital hired and trained takes our personal resources to do it.

We buy in rural Texas, and self manage everything. And due to the high interest loans we acquire properties with, equity is a must to get the DSCR to a 1.3 to 1.6 so there's cash flow to pay the employees we need.

This is a very odd and good problem to have I guess.  

How would ya'll deploy the money?

[Mike Dymski]

Check with your lender (and other lenders) to see if they have a better product to suit your needs. Maybe get permanent financing to pay off the hard money with the rest in a line of credit.  Financing should match the business strategy (not force the strategy).