Investing in Real Estate While Traveling the World How to Make It Happen

Investing in Real Estate While Traveling the World How to Make It Happen

Are you someone who dreams of traveling the world while still growing your real estate investments? You're not alone! I’m Suzanne Moore, a realtor who specializes in "banned real estate" (and occasionally helps people invest from faraway places). I’m also the founder of the Central Oregon Investor Network, a community of investors that connects people from all corners of the globe to create more freedom through passive income from real estate. Today, I want to share how you can invest in real estate while globetrotting—yes, it’s completely possible.

The Dream: Real Estate and Travel

I’m currently writing this from beautiful Málaga, Spain, on the coast of El Sol. A few weeks ago, I made a purchase here—a house in Europe. It may sound like a dream, but I can assure you, it’s achievable. There are the right tools, the right strategies, and most importantly, the right team to help you invest remotely while living your travel dreams.

So, let’s dive into the steps you need to take to make this a reality.

1. Set Clear Goals

Before you start investing, you need to know why you’re doing it. What do you want your real estate to provide for you? For me, real estate has always been a way to create more freedom in my life through passive income. Ten years ago, I set the goal of using real estate to fuel my travels—and that’s exactly what I’m doing today.

You need to decide:

• Do you want to invest in residential or commercial properties?

• Are you more interested in long-term rentals, mid-term, or short-term (Airbnb-style) rentals?

• Do you want single-family homes, or are you looking at multi-family units?

These decisions should be aligned with your lifestyle goals. For example, if you want to travel frequently, having income-generating properties that require minimal involvement could be key.

2. Identify Target Markets

Once you’ve set your goals, you need to identify the markets where you want to invest. You don’t have to invest in the area where you live—you can invest out of state, or even internationally. Take time to research different markets, focusing on areas that offer strong rental yields or potential for property appreciation.

Look at factors like:

• Cash flow potential (rental income vs. mortgage expenses)

• Property appreciation over time (if you're planning on selling down the line)

The more clear you are on your financial targets, the easier it will be to stay focused while traveling. It’s easy to get distracted by all the exciting things to do in new places, but your real estate goals should always guide your actions.

3. Choose the Right Investment Strategy

You don’t need to tackle everything at once. It’s important to start simple and build upon your knowledge. For instance, if you’re new to investing from abroad, maybe start with vacation rentals or even private money lending.

Here are some strategies to consider:

• Investing abroad: If you want to buy property in another country, you'll need to research the local laws, rental regulations, and financial implications.

• Private money lending: Once you have some passive income coming in, you can lend your funds to other investors, generating attractive returns with less effort.

If you’re just starting out, focus on one strategy at a time to avoid "paralysis by analysis." As you get comfortable with the process, you can layer on more strategies.

4. Build a Reliable Team

Having the right team is essential to your success. You can’t (and shouldn’t) do everything on your own. Here’s who you need in your corner:

• A local realtor: A trustworthy agent who can help you with property tours (including video tours), send you proactive deals, and assist with negotiations.

• Property managers: Especially if you're planning on being away for extended periods, having someone who can manage your property on the ground is crucial.

• Advisors: Financial advisors, real estate mentors, and even legal advisors will help guide your decisions and keep you on track.

You’ll need to rely on these people to keep everything running smoothly while you’re out exploring new destinations.

5. Utilize Technology and Tools

We live in an incredible time—technology makes investing remotely more possible than ever. From virtual tours with your realtor to property management software, you can manage your investments from anywhere in the world.

Here are some tools to help:

• Property management software: Whether you're managing long-term rentals or short-term vacation properties, there are tools available to help you keep track of everything—some of which are free or low-cost.

• Cloud storage (Google Drive): Keep all your documents, contracts, and important files organized and accessible, no matter where you are.

Communication is key, so make sure you’re using tools that help you stay connected with your team.

6. Stay Informed on Market Trends

Even if you’re far from home, it’s essential to stay up-to-date on the real estate markets you’re investing in. Regularly check in with your team to ensure you understand market trends, property values, and rental rates.

Some resources you can use to stay informed:

• BiggerPockets: A great source for market research and networking with other investors.

• Rendometer: An awesome tool for researching rental rates across the U.S.

Networking with other investors can also help keep you informed. Join real estate groups (online and in-person), attend meetups, and learn from others in the industry.

7. Balance Travel and Investment Responsibilities

While traveling, it’s easy to get caught up in sightseeing, enjoying local food, and exploring new cultures. But don’t forget to carve out time to stay on top of your real estate responsibilities. Set aside time for tasks like reviewing contracts, making decisions on new investments, or checking in on property management issues.

Use a virtual assistant (VA) to handle some of the more administrative tasks while you’re traveling. VAs can help with everything from answering emails to managing your calendar, allowing you to focus on more important matters.