best advice for multi family/apartment units

[Elizabeth M Williams]

Hi all- Quick background, I'm nearly 51, fiance is 55, I'm American, he's Australian, we both live in Dubai. I own a rental property in Portland, OR, that pays the mortgage, appreciated about 30% over 12 years, and give me a modest NOI which I set aside for any repairs. I also airbnb one of our places in Dubai but it isn't as interesting to me as having sitting tenants I don't have to worry about.

We'd like to start building our property portfolio, and real estate has always been in my blood. We are open to locations, US and internationally, and have family in Rochester, NY, whose multi family market seems very attractive to us.

We have $100k to put in now, and can pull another $100k out of my property if necessary. In my perfect world I would leverage that $100k across 4 properties as can buy decent multi families in the $100k range, with initial investment of $25k each. Happy to do some simple upgrades and repairs and have a good sense of what draws and keeps good tenants.

My questions are these-

- is it easy/possible to get financing for each multi family unit, assuming 20% down, and given that we are out of the country?

- would you pay cash instead for one unit (though I'm loathe to tie up my cash in one unit) and try to refi after closing & proof of cash flows (or will this still be an issue as I'm out of the country, with no declarable income, though my fiance has very good income)

- are there any other markets I should consider?

Our plan is to move back to the US at some point, at least part time, with a job/proven income there. We have other assets currently but those are for retirement.

Ultimately we'd like to quit working within 5 years and rely on cash flows and/or a flip or two to support our retirement, and we'd like to own a modest place in Europe to escape the US a few months a year.

We are both pretty fearless and I have the time to spend researching and jumping on the right deals. We are good with running numbers, too, and want to be aggressive in our wealth building over the next five years. Even open to purchasing apt complexes and outsourcing the management. 

Thank you, any advice, even if I'm off the mark, is welcome. 

[Tj Hines]

@Elizabeth M Williams you can take that same 200K and use it for $1M multifamily property. This will allow you to achieve your financial goals much quicker. Make sure you are investing your funds into an emerging market where you can add value and reposition upwards. Your team will be critical in helping you achieve your goals financially. I will make wise decisions and purchase in markets where affordable housing is prevalent.