Earn location independent income through real estate
As a man trying to escape the West, there are a great many options regarding countries to choose from – just check them out on this site.
And all of those countries come with specific requirements for moving there, based on your nationality, language skills, preferences, and budget.
But the only true requirement for moving abroad and escaping the West is having a strong international, location independent income.
That means that you either have enough money in total, or you can earn money from wherever you want, you aren’t tied down to a single country.
Great options here are your own online business, freelancing, various things like blogging, selling information, affiliate marketing and so on.
But did you know that real estate could also fit this bill?
Check out my new book, available on Amazon!
Get the bookSome background
I’m convinced that having a broad investment portfolio of several diversified holdings across the world is the way forward for any man, and as such I invest in things like:
- ETFs (especially in Latin America and Asia)
- cryptocurrency
- cash (multiple currencies)
- real estate
I plan on adding gold/silver to that list, but that’s a topic for another time.
If you’ve read the article Buying property in the Philippines, you already know how I’ve invested in real estate in that country (and how I can help other men do the same thing).
I’m currently writing this article from the comfort of my own property here, and it’s a great feeling.
However, my real estate can also be a source of location independent income for me.
How does that work?
Earning money through real estate can be done in a variety of ways.
You could sell it for a profit, invest in REITs which give you monthly or yearly income, or you can buy a property and rent it out.
It’s the latter which is of main interest here, because by renting it out you get so many advantages.
To start with, you get a source of income every month which is (probably) not linked to your other sources of income.
In case one of those dries up, you’ll always have your real estate income to prop you up.
Over a period of many decades, renting out your property brings in more money than just flat out selling it – often a multiple of that number.
You might now be thinking that renting out real estate requires you, the land lord, to be present on location to deal with tenants’ problems, finding new tenants and so on.
Not necessarily.
Outsourcing
The crucial factor here is just outsourcing it to a reliable company or person who can take care of your real estate for you while you are off in another country.
Yes, this will cost you money, often 10-30% of the rental income, but in my opinion getting only 70 to 90% of the rental income sure beats getting 0% when your renter fucks off and you’re somewhere halfway across the world.
Not having to deal with concerns like reparations is also a great relief.
Here in the Philippines, there are plenty of reliable individuals who can take care of your property for you, who work at 10% of the income per month.
He or she will also deal with finding new tenants, setting up contracts, cleaning your property, reparations, etc.
So if you rent it out for $1,000 a month, you might get $700 of that money after all of the expenses like your real estate manager, cleaning, taxes, and so on.
Not a bad deal in my opinion, considering you are free to travel across the world, and all you have to do is reply to some emails every once in awhile.
Check out my new book, available on Amazon!
Get the book
