Angel Bernal Robles of Montgomery worked as a risk manager in real estate taking charge of underwriting both debt and equity for a diverse array of commercial and residential transactions. As an avid traveler, Angel Bernal Robles of Montgomery discusses below how property ownership can enhance the traveling experience.
On the surface, property investment and ownership appear to tie people to one spot, potentially rooting them in a place they’d rather not inhabit. But unbeknownst to most, it doesn’t have to be that way. In fact, real estate business ventures can make long-term travel a reality.
With the right tools, individuals can live thousands of miles away from their properties and still run successful real estate businesses. And it all starts with a mindset change.
Angel Bernal Robles of Montgomery on Getting in the Right Real Estate Mindset
Angel Bernal Robles of Montgomery says that many people just starting on the path of traveling through real estate often forget one very important fact — it’s an investment and a business endeavor.
Upon acquiring a property, it isn’t enough to let it sit there and gather dust. Instead, individuals need to actively manage it and obtain tenants to earn money. However, technology has allowed entrepreneurs to be anywhere in the world to complete all associated tasks. It’s no longer a case of being on-site.
Angel Bernal Robles of Montgomery reports that individuals invest their money to establish wealth and income — a fact that attracts most people to this line of work. But the business side of things requires them to manage the property, tenants, and assets.
At the beginning, people tend to do everything themselves, but true businesses make money without constant, everyday involvement. So, to ensure traveling through real estate is genuinely freeing, investors should outsource certain tasks, harness technology’s power, purchase the right properties, and build effective systems.
Multifamily Properties: The Perfect Remote Real Estate Business
Angel Bernal Robles of Montgomery explains that with so many property types on the market, many wannabe jetsetters and real estate business owners struggle to start. But according to industry experts, multifamily buildings are the way forward.
Buying in states that are friendly to landlords and boast strong real estate markets are even better. Even if living in such states doesn’t appeal to the investor, owning properties in the area could be a fantastic earner and allow them to travel the world.
Landlord-friendly states include those with favorable eviction processes, property taxes, rent control, and rent price growth. Although these tend to change every year, the following are the best for 2023:
Purchasing multifamily rental units means landlords are able to live and travel wherever they like without worry.
Angel Bernal Robles of Montgomery encourages investors to never skip walking the property. In fact, it is important to travel to the view unit in person before submitting any final offer. Of course, this is up to the individual, but there is simply no substitute for viewing the property firsthand.
Technology is the Key to Running a Remote Real Estate Business
Since real estate-associated tasks still need to be done while on the road, in the air, or languishing on a remote sandy shore in Costa Rica, technology will quickly become the travelling investor’s best friend.
Above all, individuals hoping to mix travel with real estate investments/business endeavors should have a smartphone and excellent online property management software.
Angel Bernal Robles of Montgomery says that the problem with the former for international travel is their expensive nature and inflexible plans. But the advancement of technology has ensured there’s a plan for everybody — including globetrotters.
These days, investors can find relatively inexpensive cellphone plans that allow unlimited text, talk, and data usage while on Wi-Fi connections, reducing the amount of data used each month.
Online property management software, on the other hand, is easy to come across; it’s finding a high-quality one that’s an issue for most people.
Angel Bernal Robles of Montgomery explains with that note, Buildium seems to be popular among the world-roaming real estate investor crowd. With plans starting at $45 per month, it screens tenants, offers online leases and payments, provides tenant website portals, tracks maintenance, hires third-party property inspections, handles the accounts, and so much more.
Real Estate Investing Makes Lifelong Travel Possible
Angel Bernal Robles of Montgomery explains that with nothing more than a smartphone and an all-encompassing property management software, individuals can run a wholly successful remote real estate business while traveling the world. As long as the mindset is right, anything is possible, even lifelong travel — there are experts out there to prove it.