Expats and rental portfolios go together like peanut butter and jelly. It’s no surprise that a fair amount of retired globetrotters owe their freedom to real estate investing. While many real estate investors are looking to retire themselves and their families in the US, today’s guest Paul has other plans.
Paul thoroughly enjoys his full-time job in Utah. He gets paid well, has access to some phenomenal benefits, and isn’t planning on quitting anytime soon. That being said, Paul has had the itch to live as an expatriate abroad, hopping from country to country, enjoying world travel. But, in order to do this, Paul has to create an income stream that can support him and his partner along their travels.
Of course, as a smart investor, Paul has already been building this extra income in the background. Since starting his rental property investing journey only a year and a half ago, Paul is already at five doors, with a sixth closing soon. He needs to be at ten doors to have enough rental income to cover his expenses in the US, but how much farther could that money go abroad?
~~~~
Join the BiggerPockets Money Facebook Group:
https://www.facebook.com/groups/bpmoney ~~~~
How to Quit Your Job and Travel the World with Millennial Revolution:
https://www.biggerpockets.com/blog/biggerpockets-money-podcast-55-quit-job-travel-world-millennial-revolution ~~~~
Financial Independence in 5 Years w/ Short-Term Rentals:
https://www.biggerpockets.com/blog/biggerpockets-money-podcast-256 ~~~~
How to Use a HELOC to Buy Real Estate:
https://www.biggerpockets.com/blog/heloc-buy-real-estate ~~~~
Shoot Paul an Email:
paulhinckley38@gmail.com
~~~~
Want to Be a Guest on the BiggerPockets Money Show? Apply Here:
Guests: www.biggerpockets.com/guest
Finance Friday: www.biggerpockets.com/financereview
~~~~
Connect with Scott and Mindy on BiggerPockets:
Scott:
https://www.biggerpockets.com/users/scotttrench Mindy:
https://www.biggerpockets.com/users/mindyjensen Episode 268
Show notes at:
https://www.biggerpockets.com/moneyshow268 0:00 Intro
2:48 Income and Expenses
5:42 Assets and Liabilities
8:46 Financially Free Expat Dreams
11:24 Going Heavy on Retirement Saving
16:07 Shifting More Towards Real Estate
22:53 How Many Rentals Is Enough?
30:25 Being Closer to FI Than You Think
34:41 Keeping Rental Property Reserves
45:24 Famous Four
49:50 Recapping Paul’s Ex-Pat Plan
