Retired as a 'Digital Nomad Landlord' with 15 Rentals
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- Опубликовано: 29 июн 2024
- The digital nomad landlord lifestyle sounds like a dream to most of us. But surely, we can’t do it…right? What if something goes wrong in the house? What if something needs fixing? What if there are problems with tenants? As today’s guest Sarah Weaver puts it, “do nothing”, your core four can handle it all so you don’t have to stress.
Sarah knows what she’s talking about-she’s been a digital nomad and nomadic landlord for years now, teaching agents and investors how to grow their businesses while living their dream life. Sarah was able to close on twelve units while operating abroad and working remotely. She was buying fourplexes while hiking in New Zealand, landlording while on the beaches of Bali, and growing her businesses while enjoying everything South America had to offer.
Sarah embodies the exact type of life so many investors are looking for. The difference between most investors and Sarah? She let go of fear and kept her goals in mind, no matter what she was doing. This way, she’s been able to retire off of fifteen rental properties in less than a decade while running her own business, traveling, and really doing whatever she wants!
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Join BiggerPockets for FREE:
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Books Mentioned in Today’s Episode: 👇
Long-Distance Real Estate Investing: store.biggerpockets.com/produ...
Raising Private Capital: store.biggerpockets.com/produ...
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Enjoyed Matt Faircloth’s Contributions? Shoot Him a Message on BiggerPockets:
www.biggerpockets.com/users/m...
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How to Use the DISC Profile to Communicate Effectively:
www.biggerpockets.com/blog/di...
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Grab Sarah’s Freebies for Real Estate Agents and Investors:
www.sarahdweaver.com/freebie
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Short-Term/Medium-Term Rental Resources Mentioned in Today’s Episode:
Furnished Finder: www.furnishedfinder.com/
SmartBnb (Hospitable):hospitable.com/
AirDNA: www.airdna.co/
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Connect with Rob (Roubilt) on RUclips, Instagram, and Tiktok:
RUclips: / robuilt
Instagram: / robuilt
TikTok: / robuilto
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Connect with David on BiggerPockets:
David: www.biggerpockets.com/users/d...
Episode 563
Show notes at: www.biggerpockets.com/show563
0:00 Intro
3:19 Quick Tip
4:37 Long-Distance Investing is Easier Than You Think
11:06 What to Look For in a Real Estate Agent?
23:36 Finding Deals as an Agent or Investor
30:08 Pivoting to Stay On Course
38:24 Short-Term and Medium-Term Rentals
47:37 Travelling + Investing = The Dream Life
59:18 Deal Deep Dive
1:01:27 Fire Round
1:04:38 Famous Four
I've been following Rob for quite a while and always thought he deserved a BiggerPockets role! Such a good dude 👏
Hey Rob if you’re reading this I just bought my first house and STR because of you! Watching this as I build my furniture :)
David and Rob seem to have a good chemistry. They should do more of these!
I love this podcast. I finally left my W2 and sold my home in SF to become a digital nomad REI. I am the only person i know doing this. This year i am bouncing from Northern California to Southern California and Arizona, soon in Mexico City and hopefully Paris in September. I own 17 doors of which one of them is a STR. So glad to know there are others doing this. Thanks, David Greene! You paved this road for me as well. Rob, you are inspirational and i hope to do a retreat style type of investment as my next project.
You're not alone! Congrats on your success.
Wonderful life to be truly free to live and do things anywhere.
Maybe you can do UT for us to follow. I am old but I encourage my RN kids to be financially independent and retire early. Thanks
I’m not even through the whole episode, and I have to jump in and say, “Bravo! Bravo! Brava!!!!” SO MUCH GREAT INFO packed into this 1 podcast!
David + Rob + Sarah = 🤯🏆🙌
Thank you so much!
I got too excited when I heard Rob was on. Day 1 Robuit fan here.
Thank you Sarah for all the great information!! What a great guest! I love your phrase “Functioning in the fear.” I too, thrive on change! You story is inspiring. ❤️
I am so glad!
Oooh! Love that we’re gonna look deep at different strategies this month. Thank you!
Best BP Podcast I have listened to. This one has everything- House hacking, Agent relationships, Fully furnished MTR, Vendor lists and all from another country. Inspirational, thought provoking and full of "I've never thought of that" strategies. Longtime BP Pro member. Thanks for your work.
Thank you so much!
Dave I am so glad you asked for the practical advice (circa 52:30) when your guest answered your question - which clearly sought practical advice- with her generalized mindset. Thank you for oayingnattention to detail and/or bringing out the detail in your interviews.
Fantastic episode Sarah! Loved your conversation around working with an agent on the investment side of things. Really reminds me that I need to lean into my great clients and stop trying to drag along buyers that aren't serious.
This is an amazing episode full of so much information. Now I know why my real estate agent dropped me and how to respect their time in the future!! Thank you guys for this!
YES - Investor Agent relations!!! I love my agent and we’ve sent her 5-6 deals that have closed over the past couple of years, plus our 3 personal residentials and our first rental 4-plex. She is grateful and now a friend, but just knowing that if I ask about the market and she shoots me something and I don’t respond is an a-hole move on my part is pretty great to know - tell me MORE.
BP, Rob is the host you need to put on FT with David. He is the charisma and the curiosity this podcast needs.
Loved how she executed everything. My plan is similar to hers so I find her story inspiring. Been a subscriber of Robuilt for quite some time.
The universe provides. I just talked to my daughter recently about long-distance real estate investing and how would you go about doing it and the universe sent me this podcast. It was awesome information. I learned a lot and I reached out to Sarah & Rob. Lili recommended you guys. Glad I took her advice, you guys are great. Thanks!!!
Thank you for the great video!
Thank you!
Have liked Craig C, the best as a cohost so far because I think he brings the best out in David. David is good at analyzing and breaking down what the guest is saying, making it relatable to the listener. I thought Craig has done the best job so far at asking questions and getting the guest to talk much like Brandon.
thanks for the beach head strategy around 53:00
I've never heard of MTR until this podcast and it's opened up a world of possibilities for lots of homes that I've looked at wanting to do STR that is prohibitive due to zoning. Another amazing podcast from the hosts and Sarah, thank you for this.
I just got into this strategy for my 2 family. I occupy it. It's great especially knowing that the person won't be there long, so if you don't like them. They are gone. I also only rent to traveling professionals. Works well. My 2 bedroom in my market rents for $1750/month. On MTR I am renting it furnished utilities included to a traveling professional for $2400.🤑🤑🤑
Travel nurses, students the list goes on 🙌
I laughed when she said that she test her agents with a BRRR. I have been doing BRRR for 20 years. Literally did not know the slang BRRR and had just looked it up a couple minutes before. Started with berr, bir bur in a search. Thought wtf is this. LOL.
Haha! I'm glad you liked it.
A very delightful and intelligent lady. Thanks for this.
I appreciate it!
the numbers around 1:01 are real helpful (piti versus tent income) since it will work even if no medium term rentals
Yup... love Rob
This was a great session.
Thank you!
Fully Agree!! Europe is a Wonderful place to grow your Wealth!!
great topic, because Long Distance investing is the future. however, buying from a distance is a one time event. Managing from a distance is a series of long term events and how the investor manages the manager from a distance is a topic which I have not seen discussed. How does "trust but verify" apply? Thanks for a future podcast focused on this important topic.
Awesome interview. I myself manage my european longterm rentals from Argentina and its doable. Would also love to do some next level things like BRRR, flips or microdevelopmemt, but not sure how to start
Wow, David has really been pumping out the videos since Brandon left.
Yes! Rob!!!
Looking 👀 forward to listing to this one ☝️
Ive had both good and bad experiences with travel nurses, my advice to landlords/investors is to make sure to vet them just like you would a long term tenant.
Learn so much and love to have similar life with some work to some extent. I am 61 years old but like to have more passive (extra) income and do more travel.
Communicate, set realistic goals/criteria, and accept less than perfect are some good key ideas.
I have a Duplex in las vegas that need BRRR. I sent it to one of my investors she didn't look at the deal. That was a bummer. I'm thinking to buy it for myself.
41:33 Furnished Finder
42:35
48:02 Manifesting
sara.....i want to be just like you traveling and real estate investor........you are an inspiration....thx
Thank youuuu
I’ve been a landlord for 19 years and have owned over 40 units during that time. I can assure you that being a remote landlord is a complete nightmare, especially now at a time when tyrants rule the world, contract law is not enforced by courts and tenants are told they cannot be evicted for non-payment of rent. Try getting anyone to do repair work when something breaks and you’ll quickly discover that most people don’t want to work anymore and if they do they’ll charge you outrageous prices for simple repairs or even cleaning. I’m been selling my units over the last 3 years and warn anyone thinking of buying rental property that it’s a complete Sh*t show. You’re welcome!
Most definitely times have changed with peoples morals and values of other people properties. It use to be well respected to pay a landlord and have a place to live. Now after the weirdest Covid laws it has made many think worse versus better
What markets were you in? What was your average cost per door?
Amen! Its probably smart to sell in the bubble, too.
Did you sell everything? I’m looking for investment properties.
That is a great idea. Investor/Agent relationship 👍
Glad you liked it!
At 45:59, is David referring to the DSCR loan that only uses income from the rental? I want to make sure this is what it is. Thanks in advance.
I’m here for the fusion. 🔥
aren't we all
Yeah I’m like Rob, I’m the one finding deals online 😂 This is why I’m not even sure I need an agent
1:08:25 "Where can we find out more about you" is a question while "tell me where we can find out more about you" is an instruction.Just put "tell me" in front of all of the questions and you will have the famous 0. :)
Inspiring for me. Hope to be a FI digital nomad. I have the remote job down. Need a nice portfolio
So glad you liked it!
Is there a reason why the podcast show number is not in the title anymore? I feel like that was really helpful for me to search for episodes.
Hi There--we have not had the show number in the title for quite sometime. We decided to make the shift, so folks can more easily search topics.
Damn. 3 to 15 Unit’s in 68 days sheesh🔥🔥🔥🔥 Thats gangsta!
Thank you!
Ok, but here’s a question: we have 2 homes in AZ (one of them is brand new and almost completed) and live in one in CA. We want to buy a rental - probably a duplex or triplex or even a single family - preferably a duplex, in either, the Spokane- Couer d’Alene area or maybe the Raleigh or Winston-Salem or Asheville area so - what if you are trying to set up a team, but not quite ready to buy yet, but you want all of your ducks in a row like a good investment realtor, a good property manager and possibly a handyman or contractor but you don’t want to waste anyone’s time but when you finally decide the time is right, you want to just hit “go”, how do you get all of that set up?
Great plans. You just have to communicate with your local team about the process, timing, and listen to them and see - they should understand your process if not find someone that does. Keep us update or even do your own UT to share if you like. I think if you find good investor agents they can give you info on the team.
Matt Faircloth is the coolest and knowledgeable guy I ever meet in real-estate. A genius
I couldn't agree more!
Lol fusion brother
more info requested on the funding raised around 1:05. How? Details please
13:00 mic drop...as an agent and investor, I love how Sarah set realistic expectations for investors (KW baby!!!...shameless plug)
Ha! Thanks
Squat laws? After 30 days, can't kick them out.
An electrician willl tell u to change the elwctrical panel , 1000 dollars, when the only thing wrong is a wire worth 1 cent.
Really dope podcast!
House hack Question.... I've been overseas working for the US Department of Defense In Kuwait for the last 3 years. I live in Government provided quarters and don't own any property in the US. Would I be able to buy a Quadraplex in Florida and just not rent one of the units out to a Tennant. I would make that unit my home of record, even though I would only be able to stay in that particular unit for 30 days out of the year if that. Would this be legal?
You can make it work. You can also do STR on that unit you stay for one month lol. Great plan. We have similar goal to buy 4 plex at least with my kids.
48:45 "you don't need to sell your house, sell your kids" LMAO
Amen!
Awesome information guys, I am working on expanding my STRs and looking for financing answers for debt to income ratio. David can you reach out to me. Thank you
👏👏👏
I have a great relationship with my agent. I felt bad going under contract with an off market deal. Should i feel bad about it
Don't let that bother you. Maybe next deal with the agent if he/she is in good team and capable. I had to drop an agent due to some unexpected deal so. It happened. Maybe take the agent out or give a gift for their time at least.
Isn’t it risky to put in an offer without having someone see the property?
It can be! That's why I make sure I have a system in place to mitigate risk.
FUUUUUSION ... HAAAAA!!!
Primary criteria is CapRate..if it doesnt meet 10 i move on
Hi Sarah. I visited your web site. There isn't an email posted there. I would like to consult with you and since the session is only 45 minutes want to send you topics of conversation. Since the topics will expand as we talk I'll request followup sessions. Where to reach you by email? Thank you and be well.
She did not mention about the tears
Is she competing with the people that she is coaching after they send her deals to look at? 55:55
Yeah that seems super unethical... WTF
Great question! Abduance mindset is key. There are enough deals for everyone. I have been passing on deals to all my coaching students. Appreciate the clarification, @Trplr4life and @stephanimeyers9570
Nz great leadership that was funny
I'm here for the laughs
what's your vacancy rate last year?
3%
“It’s all intentional” ……. #ItsAllIntentional
Maybe it's shallow of me... but, dang!! 3.5% hard money long term, Where is the phone number? I have 4 free and clear rentals primed for that deal.
Is it me, or does the new guy sound like Brandon?
Too much casual conversation and not enough valuable information
$22 M medium $200$ Hot
This was great until she said New Zealand had great leadership. She must really value having no civil liberties in a police state.
Appreciate your take!
This is all cute advice but I'd like to see how easy it is to BRRR during hyperinflation and when the fed actually raises rates high enough to fight it. This video turns me off because of all the smirky arrogance from your success, maybe you put in a little work on your smart phones taking out debt and risk, but you mainly got lucky and you dont offer advice to individuals just starting out.
The entire perimeter of the earth is less than 8000 miles so how is she 8000 miles away.
typical youtube clickbait. i didnt thnk this podcast would stoop this low
Earth's circumference is approximately 25,000 miles, so an 8,000 linear mile investment range is certainly possible. 😊
If you Google how many miles is it from New Zealand to Omaha…it’s 8,000 miles.
@@PlumbingsCool Well diameter is less than 8000. That would be the closest distance at any given time.
@@Trenttabor I'll give your that much on the diameter...but you'd be hard-pressed to find a boring machine that'll punch you through to the other side of the globe, If you do, I'm in!
Where is Brandon these days
People will be kicking themselves in few weeks if they miss the opportunity to buy and invest in bitcoin and shiba inu
Sorry to be negative, but definitely not a fan of Rob as a host. Too goofy, not great advice.
Henry Washington seemed like the best so far.
One day when I’m well off into my real estate life, I’m going to owe it to this episode, where they won me over not with practical real estate information, but instead with an out of left field Dragonball Z reference. 🤌😮💨
Haha! Glad you liked it.