Advice required, Should I Pray or Prey, looking to broaden my thoughts.
Nutshell:
I purchased raw land and have been constructing a property in the surf capital of Puerto Rico for 2 years (1yr. Prep and 1 yr. Building) and funding everything 100 percent including all of my time, resources, and money. (Literally no help not even labor.)
This was a "I need a challenge and change" kind of moment...
Happy to say, The "main" house is built and approved permits have been granted.
Issue:
My funds are running low and I haven't had any income coming in for close to 2years.
My vision of a "detached multiple structure building" is at a stand still.
Before I tank I am exploring voids in the market to maybe start up a construction or remodeling business, and also considering networking with local investors to explore ways to try to gain capital in a pretty saturated real estate market.
The Goal:
Find a creative way to use the equity I have built to continue the venture, and keep developing, (but how with zero income last 2yrs)
Invest in the area by providing a service and get involved in the local real estate market.
Ultimately, to find a cash partner that I can build a strong relationship with, and keep developing properties for Sale, STR, LTR, etc...
FINAL THOUGHTS:
Although my approach at all of this went against my knowlege, I did it for me, this was a moment in life where I needed to prove that i could go beyond familiarity and comforts and still manage to succesfully learn, build, and stay interested. Crazy, I know, but future regrets and wonder were not an option for me.
The easy exit strategy here is to sell and double maybe triple my investment, check off the list, and go back to my comforts...but the beauty is I kind of want this now, I like the idea of expanding all that I've learned and turning it into something tangible.
On that note, BiggerPockets is a amazing community that has helped me so much in the all of the years that I've been investing, and I appreciate every single one of you that takes the time to help others and share their experiences and opinions you have all of my respect.
Josh
