There are plenty of people around the world who fantasize about spending their days in distant lands, soaking up new sights and culture. If you’re someone who has always been passionate about travel, it may surprise you to learn that living a suitcase lifestyle isn’t as difficult as it seems.
You don’t need to be a millionaire to create the life you’ve always wanted. All you need is a good real estate investment strategy that helps you to look at your portfolio as not just an asset, but as a business too.
Real estate might not seem like the easiest business to get into when you’re hoping to travel the world. However, in today’s tech-savvy environment, you may be surprised at how much you can accomplish with the right plan. Just look at what some market leaders have achieved with a simple on-the-go investment strategy. One investor, Zach Tetley with Nexus Homebuyers, invests in single-family and multifamily properties while he travels the world. This would not be possible without a systematic approach to investing and advancements in technology.
Taking the Right Approach to Real Estate
If you want to simultaneously travel the world and earn an income from your real estate investments, the first step will be to embrace the right frame of mind. One thing that most people forget when it comes to real estate is that it’s both an investment and a business opportunity. In other words, when you buy a house you don’t just let it sit there gathering dust, you act to manage your property, acquire tenants, and earn money.
The great news is that in today’s technology-rich environment, you don’t necessarily need to be the person doing all the hard work to drive the “business” side of your real estate investment. You can begin by running everything yourself, managing your finances and your property as a part-time or full-time job. Eventually, however, it pays to start treating your real estate investment strategy like a business opportunity. Often, this means getting other people and tools involved.
By implementing the right technology, outsourcing tasks to trustworthy and competent people, and building systems for passive income, you can make money, while living the life of your dreams.
Building a Source of Passive Income
Real estate investors around the world have embraced the “passive income” approach to real estate investing and accomplished incredible things in the process. As new technology emerges in the marketplace, it becomes increasingly easy for people with an eye for real estate to earn money without continually working on their portfolio. All you need is:
- Contractors or outsourced experts: You can hire people to renovate your properties for you from afar, then ask them to send you pictures and updates of the results. There’s no need to set a foot in your investment property unless you want to.
- Property managers: Sometimes, investing in a middleman is the best way to regain your freedom. A property manager can handle the tough parts of dealing with tenants on your behalf, so you can relax and watch the income roll in.
- Technology: Everything is easier with the internet. Today’s real estate investors can evaluate the market, check out available properties, and even estimate their income potential online. You no longer have to live next door to your investment properties if you want to make money with real estate.
Countless Investment Models Available
The growth of the internet and the availability of gig-based contract workers who are happy to work for employers across the world mean that anyone can build a passive income from their real-estate investments. What’s more, there are so many different ways to get involved with real estate today that you don’t even need a massive portfolio of properties to get started.
Some younger investors, particularly in the millennial generation are beginning to explore the possibility of renting out their homes or specific rooms in their homes as an alternative to hotels and other hospitality options. Already, we’ve begun to see how innovators like Airbnb are changing the world of travel. While you’re exploring the globe, you can be making extra income from the properties you’re not using.
Apps like Airbnb are incredibly easy to use, and a great way to generate extra cash. Some investors are beginning to consider investing exclusively in properties for short-term rental purposes.
Nowhere in the investor handbook does it say that you can’t enjoy a real-estate income and travel the world at the same time. Why not explore the possibilities?
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