Digital Nomad + Real Estate

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Digital Nomad + Real Estate

Andre Crabb
Investor · Tampa, FL · Member since 2017 · 205 posts · 92 votes

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
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Zeona McIntyrePro Member
Real Estate Agent · Boulder, CO · Member since 2015 · 285 posts · 226 votes
8y

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. 

Podcast Guest on Show Seeing Greene: Why Are My Rental Property Returns Looking So Bleak?
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  • Caroline C.
    Investor · Jacksonville Beach, FL | NYC | Tamarindo Costa Rica · Member since 2014 · 182 posts · 130 votes
    8y

    Temporal House Hack has its merits and I'm partially moving in that direction with recent AirBNB purchases in Costa Rica. In high seasons they rent often, but in low seasons they stay pretty empty, so living in it while it is not going to be used anyway can be a great use of the asset.  We intend to do this to a certain extent with our place. 

    Central America locations are great because of similar time zone to US vs other overseas locations, and can be more affordable than common US vacation locations.

    If you can find 2 locations with opposite high/low seasons, you can move from one to the other along with the seasons!

    1Reply
  • Zeona McIntyrePro Member
    Real Estate Agent · Boulder, CO · Member since 2015 · 285 posts · 226 votes
    8y

    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. 

    Podcast Guest on Show Seeing Greene: Why Are My Rental Property Returns Looking So Bleak?
    2Reply
  • Nina Atenburger
    Berlin, Germany · Member since 2017 · 26 posts · 11 votes
    8y

    Really interesting topic! I've moved a lot since 2014 (London, New York City, etc.) and plan on getting into house hacking at my next location in Berlin. I am currently on a one-year long trip and while I am not working remotely I can relate to your situation. Unfortunately, I am just starting out myself and don't have any advice for you. I'd love to hear about your journey through and how it's going for you! I plan on buying a multi-tenant apartment building in Berlin, Germany. Ideally, it'd be a three bedroom. My man would live in one room and the remaining two would long-term and vacation rentals. That's the plan anyway. With Airbnb, it's important to look into the local regulations as it can differ greatly from city to city. There have been huge changes recently (I am looking at you NYC and Berlin!) and it's important to look into that first as it may affect whatever it is you end up doing! :)

    0Reply
  • Clancy C
    Landlord · Henderson, NV · Member since 2013 · 5 posts · 2 votes
    8y

    I am also a digital nomad. I agree with Nina, you have to be careful about what and where you buy if you plan to do short term rentals (AirBnB/VRBO, etc). I have a unit in California, which I AirBnB. The city passed regulations this year on all short-term (< 30 nights) rentals, forcing me into long-term rentals. Have a back up plan for regulation changes.

    1Reply
  • Diogo Alves
    Rental Property Investor · Auckland, New Zealand · Member since 2019 · 31 posts · 21 votes
    7y
    Originally posted by @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

    Hey Andre -- it's been a year since this post, curious which strategy you went with, where you've lived, and how it's going? 

    1Reply
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