Digital Nomad + Real Estate

[Andre Crabb]

Hello BP,

Over the past couple days, after listening to some AirBnb-related BP podcasts, I had some new ideas for how to start in real estate and would love to get some feedback.

In short, after being a digital nomad for over a year, I want to find the best way to get into real estate while taking advantage of being location independent. My belongings fit in two backpacks which I carry on for flights. I can pack in minutes and move no problem, as long as there’s wifi and the commute fits in my (still 9-5 ish) work schedule.

Pure Investment (Live elsewhere) - buy a property and rent it out (whether SFH or MFH). Nomad advantage: living somewhere cheaper. However, this doesn’t necessarily allow me to be active in building my portfolio quicker.
Spacious House Hack (Traditional)

• Multi Unit - buy a MFH, live in one unit and rent out the other(s).
• Multi Bedroom - buy a SFH, live in one room and rent out the other(s).
  • Nomad advantage: AirBnb out my room/unit if I choose to travel somewhere, and/or move through the units as they vacate to rehab.

Temporal House Hack (Seasonal) - Buy a property to AirBnb. Rent it out and travel during the high season, live in it during the low season. Nomad advantage: living somewhere cheaper on a roughly six-month basis.

Temporal House Hack (Concurrent) - Buy a property (or two) to live in and concurrently list it/them on AirBnb. Nomad advantage: when someone books it for a week/weekend, I can pack up and head to the other property (or a hostel if needed) for that time.

Maybe some of these make no sense. Maybe a mix of a couple ideas would be best. (Another choice is which market/city to do this in, which is another big decision. Certain markets might be better for certain strategies, for example the AirBnb ideas might do better in Florida rather than the midwest.)

What do you think? What would you do if you were starting from the beginning?

I'm especially curious to hear from anyone else who's a digital nomad or location independent. Thanks to @Zeona McIntyre and @Paula Pant for their inspirational podcast episodes. Cheers

[Zeona McIntyre]

Hi Andre, 

I've met people who travel full time and live off one airbnb properties and yet, I love to travel but cannot manage it full time, so I have a few homes that I rent full time on airbnb and rent my personal home every time I'm gone, even just for a weekend. 

Ultimately, only you know the best option for yourself. It definitely depends on where you would like to live and how much you have to invest.