4 Tips for Real Estate Investors Who Love to Travel

Monday, May 9, 2022

Are you a property investor who loves to travel? But do you worry about your properties while you’re away?

Do you have someone who’s reliable to check-in and handle your tenants’ needs? And do you worry about legal issues that might surface while you’re gone?

If you ponder your legal responsibilities, no one could blame you for feeling nervous about being far from your properties. The following tips will help you arrive at a more confident state of mind.

1. Work with a property manager

Do you finance your foreign adventures (in part or in full) with your rental income? If that’s the case, greater profits can mean more capital for travel.

When you consult a property management company, your real estate investments will become more profitable. For example, Green Residential helps property investors in Katy, Texas maximize their income by performing a variety of services. They’ll take over landlord duties and can even market vacancies for their clients.

Deciding not to hire a property manager is like asking for an excessive personal workload, and it will leave you feeling tied down by your responsibilities as a landlord. You probably became a property investor with the goal of enjoying greater freedom, but if you’re tied to your acquisitions, you’re not likely to feel liberated.

If you’re stuck with the primary landlording duties, you have to plan your travel around the ability to get someone else to cover for you while you’re away. You might miss crucial international events and gatherings this way.

If you hire a full-time property management company, however, you may travel any time you wish.

2. Enjoy your travel adventures

Travel is supposed to be relaxing and fun, as well as exciting. Don’t make it an unnecessarily stressful experience by having to worry about what might happen to your holdings while you’re gone.

Once you depart, everything goes outside your control. As long as you’ve left somebody who’s responsible in charge, you may release your fears, and trust that they’ll handle any situation that might arise.

Even when you travel for business, you may still enjoy yourself. In your free time, visit the bustling downtown area, walk around and visit the retail stores, coffee shops, bookstores, and museums, and talk to the locals.

Enjoy your journey and don’t stress about anything back home.

3. Keep an eye out for new properties while you travel

When you’re an investor, that puts you in the perfect position to look for new properties while you’re traveling. If you’ve never considered acquiring property overseas or at least far away from home, this is a great opportunity.

Investing in overseas properties is a great way to diversify your portfolio and generate long-term passive income. When you explore potential acquisitions, make sure you do as much research as you can, because various factors can affect property values in either direction.

For instance, tourism, culture, transportation, and even international military and health events can alter your ROI. But there can be plenty of investment opportunities when the markets are doing well.

For example, Panama, Brazil, and the Dominican Republic are all wonderful places to invest. They host plenty of tourist traffic, which makes it fairly easy to arrange furnished short-term rentals.

As long as you can find someone who’s local to manage your properties, you could generate substantial income if you own overseas property.

4. Invest in properties just for Airbnb

Many people buy properties to turn them into full-time Airbnb rentals. You might want to consider following suit.

If you can identify a promising location, you may attract short-term rentals that last longer than the typical Airbnb. This means shorter vacancy periods, which will keep them profitable.

Owning multiple Airbnb properties across the globe (or locally, if you’re in a destination town) will produce even more money for travel. In fact, some people have made real estate investing their sole source of funding for their jaunts.

If you’ve wanted to use real estate investing to pay for full-time travel, check out this guide from the Elite Jetsetter blog. The blog is run by a couple who have been funding their journeys with real estate investments for several years, and they offer pretty solid advice to others who desire to do the same.

Travel with a clear mind

Travel is inherently stressful, whether you take a road trip by car, fly overseas, or ride a high-speed train. So why bring your business worries with you?

Traveling while owning rental property offers the opportunity to trust the people you place in charge of your investments while you’re away. It’s always more enjoyable when your mind is clear.

Wherever your adventurous spirit takes you next, relax and enjoy the adventure. If you arranged everything appropriately before you left, your property investment business will be fine while you’re absent.