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I have literally just taken a 4-week trip across 5 different time zones living out of a suitcase and working from my laptop and the Cloud…so I guess it seemed quite natural to talk a little more about that sort of lifestyle with you. So, let’s get into some of the realities of living a ‘laptop lifestyle’ or ‘location independent lifestyle’.
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Transcription of the show
Hello, and welcome to another episode of The Property Voice podcast. My name is Richard Brown and as always, it’s a pleasure to have you join me on the show again today.
I have literally just taken a 4-week trip across 5 different time zones living out of a suitcase and working from my laptop and the Cloud…so I guess it seemed quite natural to talk a little more about that sort of lifestyle with you. So, let’s get into some of the realities of living a laptop lifestyle of location independent lifestyle right now then…
Property Chatter
Firstly, some context. I am a U.K. resident and taxpayer, but we also have homes in Brazil and Portugal. I also invest and develop in four countries, the three above plus the USA. So, I operate in and from different locations and am on the road quite a lot you might say! I am recording this article from Rio de Janeiro, as we enjoy all the craziness of the ‘Carnaval’. It is a public holiday here, if not for me, so I do have to juggle a little to stay on top of things. Sometimes I manage that, whilst at others I kind of slip a little if I am honest with you. You see, leading a ‘laptop lifestyle’ or a ‘location-independent lifestyle’ is for many also living the dream. It certainly can be great fun, but it can also be quite challenging at times too. Forget the ‘Four-Hour Work Week’ though, as that’s largely a myth.
Running such a business requires some modification compared to a traditional local business as you might imagine. For starters, some property strategies might appear be out the window altogether, especially the ones that require a personal, almost permanent, local presence. However, by utilising systems and/or engaging other people, almost nothing is completely off the table, even if it might be more difficult to set up.
I manage to operate various Rental Strategies (BTL, HMO, Serviced Accommodation/Holiday Lets), Projects (Flips, BRR/B2R, Conversions, Small Developments), Investor Services (Mentoring/Apprenticeships, Portfolio Building Consultancy, Deal Tips Service), Alternative Strategies (Developer/Vendor Finance) and JVs all very successfully even as I hop around. So, it can be done.
For me, scheduling and time zones can cause mayhem, not only with my body clock, but also with my diary! World Time Buddy (WTB) is bookmarked into my web browser, as I often find myself wondering what time it is in China or Dubai when working in ‘Eastern Standard Time’ (USA). My brain seems to have a little mis-wiring issue when it comes to conversions of time zones and currencies, so WTB and a currency converter app simply take the strain and pain of that away.
Then, there is portability of my business and personal effects. I am not exactly a minimalist, but each time I travel I learn to pack less of those unworn clothing items at the bottom of the suitcase from the last trip to make my luggage less heavy and so more portable. A washing machine where I stay also cuts down my luggage I have found. As a podcaster, I opt for lightweight ‘good enough’ technology, which gets the job done. I remember reading how Tim Ferriss has a packing list and if you Google the subject of travelling light there are all manner of tips and hacks that you can use to help in this area. Micro towels and buying bulky toiletries ‘on location’ are two of my favourites.
Equally, I use a Microsoft Surface Pro laptop as it is slim, lightweight and powerful in performance. I do still carry two phones, which does make me feel like a drug dealer at times! However, I also have Skype In phone numbers to make contacting me simpler for people within the countries that I am active with…otherwise I might have had 4 phones instead! I did consider a triband phone, but as a creature of habit wanted to stick to the iPhone that I know and understand…even if the battery seems to die every 18-24 months.
Besides hardware, I also need to have access to documents and files with as little reliance on paper as possible. So, Dropbox and One Drive help me to store group share and personal documents accordingly. A little life-saver app for me is LastPass; I really could not live without this neat little app, as it stores all those pesky passwords, we all seem to need these days. Gone are the days when your dog’s name seemed like a good password to use on every website. The other absolute must have app for me is Signable to sign documents electronically. I can function 90% of the time with these tools and apps…please can you lobby the banks and Land Registry to get rid of the need for a ‘wet signature’ on deeds and mortgages and I will be an even happier chappie then! Although the use of notaries in the USA is a bit painful when not in the USA it has to be said.
In terms of personal development, I don’t carry heavy books around with me these days. However, apps like Audible and the Kindle reading app mean I get to carry most of my library around to stay on top of my quest for continuous learning. TED Talks have an app too, so bite-sized, quality content video is available on my phone in many an airport lounge. In fact, access to an airport lounge has become quite an essential ‘travel accessory’ these days for the WiFi access, if not the free booze 😉 Airline loyalty points get topped up to gain lounge access even if travelling in economy class, which is just fine for internal flights…but I MUST have WiFi access at the airport to turn all that dead time into productive time.
With the privilege of homes in more than one place, I have been able to downsize my luggage requirements. A toothbrush and a printer/scanner in every home are on my list of homeware essentials these days. However, I have sometimes been caught out when moving between locations where I have a base and where I don’t have one; usually nothing that can’t be fixed by access to a hotel’s business centre or pharmacy though, so no real sweat.
Planning ahead is a must, but as something of a ‘lastminute.com’ kind of guy is also not exactly natural for me! I like the big picture and have no problems looking way ahead, nor do I have issues when head down and ploughing ahead with my 3-5 daily priority tasks…it’s that middle ground of planning a couple of weeks or a month ahead that always seems to get me. This week is a case in point, as I booked in several appointments when I knew that my wife would also want us to be enjoying the Rio Carnaval to the most. I hope I got the balance right as she is sitting in the next room watching the parade on TV…
However, there are some softer and more intangible issues to consider as well. Being away from where your properties and people taking care of your projects are means you do need to rely on others close by to take care of things for you. So, trust and reliability are qualities that rise even further to the surface. You need to have dependable people around you and when you find them, hang on to them very tightly.
You also must learn how to manage from afar and have systems to cater for that. I use Basecamp as a project and task management tool internally and it’s amazing how easy it is to get photo and video updates on projects from contractors on site using WhatsApp too. Pro tip: make sure you get shots from all angles to avoid those blindspots! I had one project finish recently and all seemed well based on the contractor images, until the agent went round to take photos for the brochure, only to find a giant pile of rubbish strategically placed out of camera shot for when the contractor sent me the final pics. So, a second pair of eyes is handy.
I am still searching for the property management killer app, as most that I have seen don’t really have a fully integrated, end-to-end tenant-property management function that also automates all the planned and reactive maintenance requests as well as the tenant-related stuff. I have therefore used letting agents a lot, but I have started to migrate some properties to self-management of late, which you might find surprising when trotting around various countries, despite the boiler breakdowns and tenant changeovers.
OpenRent/HomeRenter lists the rentals, Viewber does the viewings and check ins/outs and the out of hours telephone service means I don’t get ‘that call’ in the middle of the night. I now also have a part-time property manager, so she takes most of the strain for me. In addition, I have a VA in The Philippines, an active People Per Hour account and dependable project/site managers to support me too. My portfolio is at a tipping point really, I should have my own lettings business based on the number of rental units that I have, but due to them being spread across different countries, it means that I have delayed this due to the smaller concentrations in each location. That’s on my to do list however…
Finally, there is the impact on family and friends – this lifestyle is not best suited to those with a ‘home-bird’ attitude or children at school, although there is a more chilled version of what I do as an option too…spending longer periods in each location instead of flitting around all the time. Finally, the cross-cultural and language issues. When you have ‘lived as a local’ in different countries it changes your perspective and outlook…for the better, I think. So, that’s been a great way to develop and grow, even if my language skills mean that I lean on the Google Translate app a little more than I should!
Anyway, we have a ‘busy’ day ahead, which combines a bit of fun at the street carnival, before I jump onto GoToMeeting to record an interview with a successful ‘woman in property’ for the next podcast series. This is some of the reality of the ‘location-independent lifestyle’, do you still fancy the idea?
OK, so that’s me done for another week. If you want to talk about anything from today’s show, or just talk property investing more generally, email me at podcast@thepropertyvoice.net, I would be happy to hear from you! The show notes can be found at our website www.thepropertyvoice.net
All that is left to say, is thank you very much for listening once again this week and until next time on The Property Voice Podcast…it’s ciao-ciao.