Questions about building a portfolio? Help? 190k to Use!

[Jason Sallman]

Hello, So I am new to BP and could really use some help with making a decision on the best way to grown my portfolio. I have about 190k to use an live in the tampa bay area (General Area I would like to invest) 

I would like to invest in a few different properties somewhere around 60k or less. That generates atleast $800 in income per month. I would also be open to spending more fore something that holds more families like quad-plexes / larger buildings. 

My question is what is the best use of my money. I will propose a few different plans and would love some elaboration on them of peoples opinion/experiences etc. 

Question

What is the best way to use that 190k to build a cashflow rental property income? 

Buy a few props outright in cash? 

Buy using seller financing

Buy using hard money lending

Look to get mortgages from big banks and then use cash for down payment on multiple properties?

All help and advice would be greatly appreciated!

[Adrian Smude]

@Jason Sallman welcome to BP.  

Some people like paying all cash for a property, I like leverage.  This depends on how you sleep at night.

Seller financing can be great if you can find the property and work a deal with the seller.  This isn't always as quick and easy as people think but can give you the best terms possible.

I wouldn't use hard money for long term holds unless you truly have a very strong plan to refi out of it fast.  Hard money is short term and expensive. 

traditional banks are going to be your cheapest rates, but most headache of a process.  (This is the main stradegy we are using).

You may want to also look into private money and the brrrr method that @Brandon Turner talks about in his super long title of a book he wrote.  It's a great read for learning different creative ideas.