Full time RVing and Real Estate Investing

Full time RVing and Real Estate Investing

Aurora, IL · Member since 2016 · 9 posts · 4 votes

Long time reader.  First time poster. In the next year or so I plan to move myself, my wife and our now 2 year old into and RV and travel the country full time for at least the following 3-5 years. I am currently 33 years old. 

We currently own a nice 3-2 home in the Naperville suburb of Chicago.  We plan to sell the home in order to buy our RV free and clear. I will continue to work my day job as an insurance underwriter remotely, which pays me quite well. 

One of my goals while we are traveling is to leverage the extreme cost savings that this full time traveling lifestyle affords thereby increasing our savings/investment rate to somewhere close to 70% of after tax income. I'd also like to be financially independent by 40. I have a tremendous opportunity to direct some of these funds to real estate but I'm having trouble figuring out how exactly I can employ a strategy that results in low touch passive Income over the long term with us never staying very long in any one place. We do plan to follow the seasons with our travel so we'll most likely be in the Pacific Northwest or mountain states in the summer and likely in the desert states, California or Florida in the winter months and other states inbetween the spring and fall seasons. 

I've not heard of any investors who are full time RVers and look forward to the community's thoughts on how I can best get started and any strategies might be conducive to them goals laid out above. The nice thing is that I have about a year until the journey starts so plenty of time to continue my education and networking. 

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Property Manager · Mammoth Lakes, CA · Member since 2014 · 262 posts · 229 votes
9y

Congrats, that sounds like a great strategy, @Brad R.

I'd consider looking into vacation rentals/airbnbs. If you find the right area and the right deal the cash flow can be huge. Plus, they are normally going to be in places people are wanting to visit or vacation, so if you want to take a trip to check on your property it's not a drudgery! Finding a really good full service property management company could make that really passive, or you can take a more active role by listing it on vrbo/airbnb/etc. and handling management yourself, but having a good team of boots on the ground for turnovers and issues. 

Whatever you choose, have an amazing time!

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  • Real Estate Agent · Naperville, IL · Member since 2016 · 27 posts · 5 votes
    9y

    @Brad R. that is amazing! I'm a Realtor in Naperville so anything I can do to help you accomplish your goals please let me know!

  • Real Estate Broker · Bradenton, FL · Member since 2017 · 544 posts · 363 votes
    9y

    Wow, @Brad R. this sounds like so much fun! It sounds like you have a good plan to achieve your goals too.  You might want to look into turn key investing. I don't have experience with it but it sounds like it might be something you're interested in.  You might want to talk to @Clayton Mobley here in Birmingham, AL about what he does.

  • Real Estate Agent · Naperville, IL · Member since 2013 · 402 posts · 177 votes
    9y

    @Brad R. keep my information when you are ready to sell your home in Naperville. We currently have 3 investment properties in Naperville, and I would love to be the one to fund your RV purchase ;). For your plan, I am not sure how much cash you have available, or your interest in it, but NNN commercial investing may be a good option for you to provide that passive "hands off" income. Just a thought!

  • Turnkey Investment Provider · Kansas City, MO · Member since 2015 · 1k+ posts · 116 votes
    9y

    Like Rob said, turnkey might be the way to go due to the fact that you won't exactly be available to do any construction. Since you will be traveling it might be fun to invest in different areas and diversify your portfolio! 

  • Julie MarquezPro Member
    Investor · Skagit County, WA · Member since 2016 · 1k+ posts · 807 votes
    9y

    @Brad R. Awesome plan to live such a fulfilling life! Can you keep your home and rent it out for passive income?

  • Aurora, IL · Member since 2016 · 9 posts · 4 votes
    9y
    Originally posted by @Julie Marquez:

    @Brad R. Awesome plan to live such a fulfilling life! Can you keep your home and rent it out for passive income?

     Unfortunately my current home will not cash flow very well so we'll need to sell it. The equity from the sale will be used to purchase the RV outright so our "housing" costs will be minimized after the transition so that's a good thing. No cap gains due to owner occupied for at least 2 years. 

  • Investor · Columbus, MT · Member since 2013 · 1k+ posts · 1k+ votes
    9y

    @Brad R.

    Awesome way to think outside of the box! My wife and I would like to do that for 3-6 months in the near future just to enjoy some of the beauty of this country, but we could not do it for years we love the people in our town way to much. Putting down roots is vital. 

  • Aurora, IL · Member since 2016 · 9 posts · 4 votes
    9y
    Originally posted by @Josh Mitchell:

    @Brad R. keep my information when you are ready to sell your home in Naperville. We currently have 3 investment properties in Naperville, and I would love to be the one to fund your RV purchase ;). For your plan, I am not sure how much cash you have available, or your interest in it, but NNN commercial investing may be a good option for you to provide that passive "hands off" income. Just a thought!

    The idea of moving into Commercial Properties came to me in the past month and I'll need to do some more research on that space. Any good books, blogs or other education resource recommendations would be greatly appreciated. I am a little nervous tieing up so much capital into the assets as commercial loans generally have much higher standards for down payments and experience of the investor. I could be off on these facts due to my limited knowledge of the space. The NNN component is very attractive to me given my lifestyle goals mentioned above. I realize BP is more geared to residential but appreciate any strategies for the "smaller" commercial strategies.

  • Aurora, IL · Member since 2016 · 9 posts · 4 votes
    9y
    Originally posted by @Rob Drum:

    Wow, @Brad R. this sounds like so much fun! It sounds like you have a good plan to achieve your goals too.  You might want to look into turn key investing. I don't have experience with it but it sounds like it might be something you're interested in.  You might want to talk to @Clayton Mobley here in Birmingham, AL about what he does.

    I like the idea of turnkey but feel like its too good to be true or that it won't meet my expectations. I feel I'm going to outsource everything, I'm probably better off investing with a REIT or some kind of syndication arrangement. Maybe I'm being to pessimistic about turnkey?

  • Investor/RE Broker · Eugene, OR · Member since 2014 · 3k+ posts · 968 votes
    9y

    @Brad R. I have been active on BP for more than two years, and this is the most unique REI plan I've heard about here or anywhere else. Very cool idea. In terms of ideas for truly passive investments, I have taken a keen interest and made multiple investments with a firm that offers interests in co-owned portfolios of 10 SFR in the midwest. I have found these investments far more passive and worry-free than the turnkey properties I've bought. I have blogged about these investments extensively in:

    Have I Found the Holy Grail of Passive Real Estate Investing?

  • Aurora, IL · Member since 2016 · 9 posts · 4 votes
    9y

    @Larry Fried Thanks Larry. I'll look into you blog posts. I definitely look at real estate as one of many different income streams planned to fund our new lifestyle. As you've alluded to, it's quite a different approach to investment than most so I appreciate everyone's thoughts and ideas on making my family's dream a reality. 

  • Specialist · Indianapolis, IN · Member since 2014 · 670 posts · 352 votes
    9y

    @Brad R. your plan sounds exciting! Good for you guys! Syndication is a great way to have passive income and can be setup in several different ways. You can invest in a syndicated fund, or individual deals. If your looking at a syndicated fund there are some definite items to keep in mind. I blogged about my experience as well, so if your on a blog reading roll feel free to take a look. Best of luck. Happy to assist if I can.

    Passive investment options

  • Aurora, IL · Member since 2016 · 9 posts · 4 votes
    9y

    @Jeff Wallenius 

    Thanks Jeff. I'm absolutely on a blogging reading roll. I'm also an avid podcast consumer - BP hits my rotation weekly, among other REI-focused blogs. I'm sure I'll have some questions for you around syndication and commercial investing.

  • Property Manager · Mammoth Lakes, CA · Member since 2014 · 262 posts · 229 votes
    9y

    Congrats, that sounds like a great strategy, @Brad R.

    I'd consider looking into vacation rentals/airbnbs. If you find the right area and the right deal the cash flow can be huge. Plus, they are normally going to be in places people are wanting to visit or vacation, so if you want to take a trip to check on your property it's not a drudgery! Finding a really good full service property management company could make that really passive, or you can take a more active role by listing it on vrbo/airbnb/etc. and handling management yourself, but having a good team of boots on the ground for turnovers and issues. 

    Whatever you choose, have an amazing time!

  • Aurora, IL · Member since 2016 · 9 posts · 4 votes
    9y

    @Shelby Pracht. Thanks for the idea.  I was listening to a BP Podcsst that mentioned Airbnb as a potential investment opportunity. Definitely something to look into more.

  • Property Manager · Mammoth Lakes, CA · Member since 2014 · 262 posts · 229 votes
    9y

    Yeah, @Brad R. I make a way better return on my Airbnb than my long term rentals. Definitely a pretty cool tool for investors.

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