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Do any digital nomads invest in real estate?


by @jasonmwomack 11yr  | 5 comments

I am an aspiring digital nomad / expat from the States. Right now , I am teaching my self web development. Moving overseas is a strong desire of mine. I would like to have a home base in a foreign country with the option to travel around. I am considering eastern Europe and Southeast Asia . Where can someone invest in property and rent it out? What countries are accessible for Americans with the least amount of โ€œ red tape โ€œ visa issues ? Does anyone have experience in doing this? Iโ€™d imagine forming a LLC would be my best bet . I have heard Budapest would be an option. I am looking at investing anywhere from 25K to 40k USD . What are my possibilities ? Any suggestions or ideas would be extremely appreciated .

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I havenโ€™t invested in real estate in a while. After doing well in the early 2000โ€™s boom, I got hit with a major tax bite when my 1031 chain came to a screeching halt. Since then Iโ€™ve been trying to recover but plan to get back up and running as soon as I can.

Some models Iโ€™d love to invest in the future - vacation rentals aka VRBO and self-managed apartments. (Iโ€™ve been a field inspector for commercial lenders since 2004 so Iโ€™ve seen the numbers on multi-unit propertiesโ€ฆ)

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@davidkeys 11yr

Detroit has some steals at 40k. :wink: haha

Yeah, I hear you. Weโ€™re already regretting taking out a mortgage. One more thingโ€ฆtake into account the volatility of the local currency when purchasing abroad. We have a 9.4% interest on our SA mortgage. With the SA Rand dropping 16% against the USD in one year, the interest rate doesnโ€™t sound like a bad deal. Then again, it was probably a poor decision to throw good money (USD) toward an asset that maintains a (ZAR) value and return.

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@davidkeys 11yr

Hey Jason, We bought a home in Cape Town, SA and the process was very similar to back home in the States. The only challenge was the deposit, because as foreigners we had no credit history. We also ran into this issue in Luxembourgโ€ฆ fairly common. We had to put 50% down in order to secure the mortgage. Weโ€™re looking to move on from Cape Town and are currently faced with the decision to rent or sell. They have property managers here, but I couldnโ€™t imagine leaving property behind without a very close friend or family member (better) to look after it. Honestly, Iโ€™d recommend purchasing a home back in the States to rent out, which can help fund your travels. Hope this helps.

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@jasonmwomack 11yr

Thanks David. I am trying to avoid taking on a mortgage. I would spend the majority of my time living in the property that I would have purchased abroad. If I invested in property here in the USA, It would limit my potential time spent overseas. (due to lack of residency abroad). It is a bit difficult to find livable real estate with 40k. I could invest long term and take on a mortgage. I would have a tenet of course. Right now, I am seeking an immediate yeild. Thanks @travelingpm

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In Costa Rica you can get a nice property house for 50k, this is what I built here last year:

And you can rent it for $600 a month as it is or $50-100 per day on airbnb which I get daily requests too but I donโ€™t rent it since I live here for now.

$100 a year property tax + $100 a year insurance taxโ€ฆall my expenses in case I want to leave for an year and leave it as it is :wink: (Of course I would rent it anyway if I would leave for a year but you get an idea on the ROI)

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Read and participate in 14,117 discussions on Nomads.com

Suggested topics

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Any nomads in Arizona, US?


in Netherlands by @info132 5yr 5 years ago  | 4 comments

Hi guys,

After the Netherlands, the Bay Area, Colorado and being on the van life for 8 months, I am now in Sedona, AZ with a few other digital nomads. We are sharing a home here and are wondering if there are more like minded people in the area.

We do a bunch of hikes and campouts in the northern of Arizona. If you would like to connect with us, please do so :)

Val

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Are there any digital nomads in the Islands e.g Bermuda, Barbuda, St. Kitts and Nevis?


in Antigua , Guatemala by @momo11 5yr 5 years ago  | 3 comments

Does anyone ever travel to any Islands like Bermuda, Barbados, Barbuda and St. Kitts & Nevis?

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Best place in Portugal near cool nomads, good surf, and a great cowork spot


in Portugal by @joelnicholson 5yr 5 years ago  | 9 comments

Hi there, title says it all. Canadian nomad hoping to find the city/town in Portugal with great, consistent surfing, a solid coworking spot, and a fun group of young nomads. Please recommend!

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Tax advisor for permanent nomads?


by @eljaques 5yr 5 years ago  | 1 comment

I'm in need of a tax advisor who understands "our" typical situation. I'm all good on being legal on taxes at this point, but as I'm doing more investing and there's more compliance and KYC and such, it's getting more complicated to deal with this topic. Not living in my country of citizenship, company in another country, resident in yet another country, banking in a different country ... you know how it is, a pile of red flags.

Would be great to find a good tax advisor to sort things in a way that makes my situation as "explainable" and easily dealt with as possible. Any leads?

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How to get into the digital nomad lifestyle?


in Switzerland by @filiptk 5yr 5 years ago  | 1 comment

Hi, I've got a question to anyone who had experience with the digital nomad lifestyle. I'm 24, I'm in my last year of university doing computer science, got 3 years of experience mostly doing web development.

I never liked the idea of staying in one place, getting a job and growing roots - hence the will to take the opportunity and travel the world. My main question is โ€“ how do I go about it? Are there any useful resources I could look into?

How do I go about insurance and such once I decide to move. I currently live in Switzerland and do freelance work for one company. It's not a lot, since my studies don't allow me to pick up a full time job, but it allows me to cover simple expenses.

I'd be happy to get some insight into how things work and also happy to network with anyone interested.

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What is the best online insurance for digital nomads ?


by @berberos 5yr 5 years ago  | 4 comments

Hi guys ! hope you are doing well.

I would love to get your feedback regarding the best insurance for digital nomads. i'm traveling around Asia since 1 year and for next 4 or 5 years. Would love to buy an insurance to cover especially :

- health

- laptop, phone ...

- Flights

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Any nomads working on startups?

 

by @mattlock 6yr 6 years ago  | 33 comments

Hoping to see all the cool stuff people are working on while they live an extraordinary life.

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Any Ph.D students dissertating while a digital nomad?


by @larsheather 6yr 6 years ago  | 5 comments

Anyone know of any groups or resources for Ph.D. students working on dissertation while living as a digital nomad? I know there are several virtual writing groups around, but wondered if there were any specifically for digital nomads, particularly those who are dissertating.

Thanks!

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Does international health insurance for digital nomads exist?

 

by @al_steffen 6yr 6 years ago  | 59 comments

Hey Nomads!

Iโ€™m looking for an international health insurance (no travel insurance) for my nomadic life. It should cover the basic services and at least be accepted in the EU (itโ€™s ok if itโ€™s not accepted in the US as Iโ€™m aware they rarely are). Nice to have: enter into a contract online. Anyone got a good experience or a recommendation?

Thanks in advance!

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How do you deal with โ€œproof of addressโ€ for banking and investing and other random stuff?


by @eljaques 6yr 6 years ago  | 6 comments

How do you guys deal with the dreaded โ€œproof of addressโ€ for banking and investing and other random stuff?

I donโ€™ have the option to have a family member do this for me, sadly (not wanting to use that country as residence for tax implications).

This has to be a pretty regular problem for most who arenโ€™t doing the old timey โ€œlive in one place and pay bills there foreverโ€ thing. Suggestions? Services? Hacks? Workarounds?

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How do you invest internationally as a nomad?


by @mateuszwieloch 6yr 6 years ago  | 17 comments

I have finally saved enough money to start investing. What company gives good, diversified access to stock, ETFs and mutual funds? Does it make sense to use company like Vanguard or Fidelity for that? Iโ€™m a EU/Poland citizen, how would I transfer my money back and forth without incurring significant fees?

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What investment options are open to e-resident?


by @64tankman 6yr 6 years ago  | 1 comment

I know from experience that if you have residential status in countries where IG (a broker) serves, you can buy stocks and other assets through this broker. But I wonder what doors to the stock market, asset market or broker can be unlocked with e-residency? Some banks open a terminal for customers to buy assets overseas too, is one of the e-residency friendly bank offering a good portfolio of assets to invest in?

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I dream of being a digital nomad? How do I do it?


by @programmingmark 6yr 6 years ago  | 2 comments

Hello digital nomad!

I dream of being an independent digital nomad. But it feels very elusive & unattainable with my success rate. In full disclosure, whilst I have dreamed about making money online since high school; I have not earned a single cent making money online. $0, nada, zilch!! On the contrary, I have spent a lot of time & money on books, podcasts. Even though I have spent a lot of time reading/listening to others, I do not have anything to show for it!

I have made attempts in the past to start an online business, but these fizzle out quite quickly when I do not see traction especially when the goal I have set myself is too high.

Instead of reaching for the ultimate nomadic lifestyle goal, I want to start much smaller. Really small! I am simply looking to make $50 profit per month from a new online business. Thatโ€™s it.

I need some advice from you please!

  • Is $50 profit too low? How long did it take you to earn $50 profit per month?

  • What is a good way of achieving this goal?

Thanks
Mark
aka the $0 online business entrepreneur

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How do digital nomads pay tax?


by @rodriigovieira 6yr 6 years ago  | 19 comments

Hello everyone! Iโ€™m new here and probably this is a very newbie question, but it doesnโ€™t leave my head.

How do you, nomads, pay your taxes? I mean, if youโ€™re constantly traveling, how are you going to pay taxes for a certain country if you are going to stay there a short period of time?
Or do you return to your โ€œoriginal countryโ€ and then pay them?

By the way, this forum has very nice cool formatting features! :smile:

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Anyone know an accountant for Canadian nomads/expats?


by @noam_lightstone 6yr 6 years ago  | 16 comments

Hey guys, this was my first year as a Canadian nomad.

As far as I know of, Canadians donโ€™t pay taxes if they do not live in the country for 6 months.

But Iโ€™d like to talk to an accountant or someone who does Canadian taxes specifically for expats and nomads to get clear on the rules and for help on my return coming up.

Does anyone know someone who specializes in Canada who can help? Iโ€™ve seen plenty of US recommendations but none for us canucks.

Thanks guys!

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Best place for Digital Nomad in Latin America?


by @rose_davis 6yr 6 years ago  | 7 comments

Hi!

I am planning to move to Latin America for 3-4 months (Oct-January). Iโ€™ve narrowed down 6 different places that I want to visit before committing to settling down, but Iโ€™d love to get some community input.

Here are the cities Iโ€™m considering:

  • Quito, Ecuador
  • Cuenca, Ecuador
  • Medellin, Columbia
  • Cartagena, Columbia
  • Antigua, Guatemala
  • San Marcos La Laguna, Guatemala

The most important things Iโ€™m looking for:

  • Fast/easily accessible internet
  • Easy to meet other nomads/make friends in general
  • Safe for women
  • Some sort of spiritual community (Iโ€™m also a yoga teacher)
  • Easily walkable city

Anyone have any experience with these places and can give some insight? Iโ€™m also completely open to other recommendations.

Thanks!
Rose

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Where are the nomads in Mexico City?


in Mexico City , Mexico by @shellyfish 6yr 6 years ago  | 9 comments

I just landed as a n00b digital nomad in Mexico City, and I am wonderingโ€ฆ Where are all the international digital nomads hiding around here? I have been to several coworking spaces (Selina etc.) only to find A LOT of local Mexican workers and businesses. Donโ€™t get me wrong, that is all fine, but I was hoping to meet some international nomads! Any advice?

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How do we solve housing for digital nomads?

 

by @levelsio 6yr 6 years ago  | 61 comments

Thereโ€™s been a lot of discussion on this recently.

Nomads usually stay in hostels, hotels and short-term apartments. But itโ€™s all not very optimal.

Iโ€™ve heard people suggest getting funding and building a network of houses you can stay at for a subscription price (e.g. Bruno Haid is working on that).

I donโ€™t want do physical stuff, so Iโ€™m thinking of building a platform around making housing better for nomads.

What are the housing problems nomads face? And how can we solve them with products/services?

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App/tool/service for nomads to bring things from another country?


by @brandonolin 6yr 6 years ago  | 4 comments

I vaguely remember hearing about such a service before, but Iโ€™m drawing a blank on the name. Basically I left my tablet on a connecting flight in Europe, right before my main flight to Thailand. They have my tablet and are willing to ship it out for me, but people have warned me thereโ€™s a big risk of it getting โ€œlost in the mailโ€ if I ship something expensive like that to Thailand.

Iโ€™m wondering if thereโ€™s a service or community, where I can find a nomad whoโ€™s in Europe/heading to Thailand soon, so I can have it shipped to them in Europe and pay them to ferry it down here for me? I met someone in Budapest a ways back who had built something for this type of use-case, but I canโ€™t remember the name of it. Any help would be appreciated!

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Are there any nomads from India?

 

in India by @ankitdas123 6yr 6 years ago  | 56 comments

I have seen a lot of posts from different people across the world, but not even a single post from someone in India, who has been a nomad, either living within the country or traveling to another one.

Would definitely love to hear stories from such people. We are a couple traveling as social nomads who are trying to bridge the gap between the rural and urban societies in India. We have started out very humble and do not have much resources, so looking out for help from the community.

Ankit & Rishika
Around Love and Life

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