I watched a friend of mine doing it some years ago. He went the modular route and spent all of his time, and money, becoming totally absorbed into the local aviation scene. By the time he obtained his ATPL, at 50, he knew all the local important people and was able to secure an FO position on a twin turbine freighter. He eventually went on to captain and is still earning a good living flying a corporate twin.
The point seems to be that it is as important to work just as hard getting known as it is getting the qualifications.