For the past year, I've been "location independent". Amazingly I've been able to travel the US and the world while holding a full-time job. I've been saving up and its almost time to get my hands dirty in real estate! :D
As long as I stay in furnished places, I carry everything in two backpacks! Are there any advantages to being location independent for real estate investing? If so, what are they, and what would be a great way to get started?
- Choose the "best" city in the US for real estate and go there?
- Start with some live-in flips?
- House-hack over and over again as I fix up units?
- Do the long-distance thing and be wherever I want to be yet invest in other markets?
I'd love to hear others' ideas!
Are there any downsides? Like paperwork? I don't want to haul that around with me that's for sure.
How can I use my location independence to accelerate my journey to financial independence?
@Andre Crabb Congrats dude! And yes you hit pretty much all of the possible benefits.
"Paperwork" can all be done digitally. Check out apps like docusign. And you'll probably want to use a CRM like hubspot integrated with an email service like mailchimp to keep in touch with prospective buyers and sellers. You can pull lead sources from craigslist ads, the MLS and listsource since you're in the US. All of this stuff is 100% cloud-based.
One possible downside is if you want to do rentals. It's very hard to manage them without being local, and it's almost as hard to find a decent property manager to do it for you. Flips also pretty much require you to oversee them, but at least you're only stuck in one place for a few months.