Unusual Situation, Looking for Advice!

[Lindsay Schubert]

Hello!

My name is Lindsay Schubert. I am a full-time Air Traffic Controller is San Juan, Puerto Rico. I want to start my rental portfolio in Florida.  The hope is to be in this area eventually.

I am looking to start with a multifamily property that is a triplex or fourplex. I have a long way to go with setting up a team and finding the right areas. I have been constantly reading and researching the steps to take. I am just getting stuck on the financial method. The prefered methods to do are FHA or 203K Loan, but unfortunately I would not be able to live on the property. I do not want to put 20% down on a conventional loan if it is going to drain my bank account and if there are better options out there. There is Private Money Lenders, Owners Financing and Partnerships, but I don't know where to start. I don't have networking events in Puerto Rico, so I came to the forums for advice.

Thank you in advance!

[Nathan Gesner]

Quote from @Lindsay Schubert:

You have to learn the options and then crunch the numbers to see what works for you. A hard money loan may work, but you'll be paying a much higher interest rate. 

You also have to admit this basic truth: sometimes we want a Ferrari but can only afford a Kia. It's unreasonable to think you can build wealth just by wanting it really bad. You need to take action. This often involves working hard to increase earnings, getting on a budget, sacrificing, spending your nights studying the market instead of binge-watching Dahmer, etc.