May 7, 2025 • 54 mins
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👉 Need to start creating a location independent business so you can go anywhere in the world? Get started with our Get Your First High Paying Client Online Bootcamp: https://entrepreneurexpat.com/firstclient-yt
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V I D E O SÂ Â T OÂ Â W A T C HÂ Â N E X T :
Online Business Tips to Working and Traveling In Mexico: https://www.youtube.com/watch?v=9zGH0voCyOc&list=PLh3xKhkMgH_IA6s3KvB_g9Cc9Ze1eji8j&index=2
Moving to Mexico: 10 Reasons Why We Chose to Live in Guadalajara https://www.youtube.com/watch?v=dK23vD8_xjc&list=PLh3xKhkMgH_LAY7UV78YMgms-f2e1UcwN&index=23
Tips for Moving Overseas: Top 5 Remote Work Skills That Make Money: https://www.youtube.com/watch?v=bFzjCrlNAL8&list=PLh3xKhkMgH_IA6s3KvB_g9Cc9Ze1eji8j
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Inquiries: community@entrepreneurexpat.com
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#livinginmexico #movingtomexico #digitalnomad #makemoneyonline #expatsinmexico #digitalmarketingtraning #geoarbitrage #moveoverseasfromus #digitalmarketingcourse #guadalajara #costoflivingmexico #digitalnomadvisa #digitalnomadnews #workandtravel #locationindependentlifestyle #locationindependentbusiness #locationindependententrepreneur #locationindependentbusinesses #locationindependentbusinessideas #secretsoflocationindendentbusiness #howtobecomeadigitalnomad
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Episode Transcript
Available transcripts are automatically generated. Complete accuracy is not guaranteed.
(00:00):
Have you been wondering whetheror not starting an Airbnb
(00:03):
business might be a viable wayfor you to build remote income
in the United States so that youcan move to other countries?
Where our guest today onEntrepreneur Expat is an expert
in Airbnb and also a digitalnomad who spends six months in
Peru every year and the othersix months.
Traveling around the world.
Her name is Tawny Powell, andshe's answering all of your
(00:26):
Airbnb questions today.
For those of you who've beenasking us about how to buy
Airbnbs in the us, turn thatinto a business and then move
abroad.
We also talked a little bitabout the differences between
buying real estate in the UnitedStates.
Versus buying real estate herein Mexico.
Welcome to Entrepreneur Expat.
I'm Amanda oga, and togetherwith my husband Justin, we help
(00:50):
you move abroad.
Relocate to Mexico is wherewe're spending a lot of our time
right now with our clients.
We also teach you how to makemoney online so you can go
anywhere in the world.
We talk about internationalinvestments, international
business opportunities, and weinterview people like Tawny and
other expats in digital nomads.
About how they're able to travelall around the world and pay for
(01:11):
it.
So if that's something thatyou're interested in, make sure
to subscribe and hit thenotification bell so you don't
miss a single video or podcastinterview that we have coming
out on this channel.
And go ahead and give this videoa like, because it helps us get
it in front of more people.
And if you're listening on thepodcast make sure to leave us a
review on Apple or Spotify.
Or wherever it is that you arelistening.
(01:33):
And there's two kinds of peoplewho are going to be interested
in this interview today.
The first group is those of youwho are interested in buying
real estate in the UnitedStates, uh, and starting an
Airbnb business there andgenerating income from that, and
then using that income toqualify for residencies and
visas in other countries, whichis essentially what Tawny did.
So that's one group.
(01:54):
There's another group of youthat's going to be more
interested.
In buying real estate here inMexico, it's actually one of the
top questions we get asked everyweek.
It's all about real estate, sowe can now help you find real
estate in Mexico.
We can help you find commercialproperties to invest in.
We can help you find.
Vacation rentals.
We can help you find investmentproperties and we can help you
(02:16):
find a home with our team ofreal estate experts.
We've got notaries, we've gotattorneys, we've got tax
experts, we've got real estateagents.
We basically built the wholeteam already to make this as
seamless as possible for you.
We also have bankers financing,uh, fio for the freehold leases.
We figured out all the littledetails.
For you already to help you findthe best property for you.
(02:38):
So if you're interested inMexico specifically, then go to
entrepreneur expat.com/consultand we can get started there.
But there's another group of youwho perhaps wants to get started
in the United States becauseyou're already there doing real
estate investing there, and thenusing that money to move abroad.
If that's you, then you'redefinitely going to want to
(03:01):
listen to what Tawny saysbecause she has a very
methodical process that sheworks her clients through so
they can see a lot of success.
And here's the interestingthing.
It's not as hard as you'reprobably thinking it is.
It's not going to cost you asmuch money as you're probably
thinking it is, and it's not ascomplicated to run Airbnbs
(03:21):
remotely as you probably thinkit is.
So without further ado, let'sget into this interview.
Hey everyone, and welcome toanother expat story here on
Entrepreneur Expat, where weshow you how to make money from
anywhere in the world so you cango wherever you want.
Today I have Tawny Powell withus, and we met on Facebook.
(03:43):
Book because Tawny is an Airbnbcoach, and many of you have been
asking us if Airbnb is a viablesolution so you can have your
digital nomad life.
How does it work?
How do we get started?
So Tawny is here to answer allthose questions.
Tawny is an expert in investorin Airbnbs.
She spends six months right inPeru every year.
(04:04):
And then the rest of the timeyou're just traveling around and
enjoying that passive income.
So thank you so much for beinghere to, uh, talk about this.
'cause it has come up a lot inthe comment section, uh, on this
channel and also in our emailsfrom the podcast.
Cool.
Thank you for having me.
I'm excited.
So before getting into all that,like how they can get started
(04:26):
with Airbnbs, um, who is Tawnyand how did she end up becoming
a digital nomad?
Uh, who am I?
And how did I become a nomad?
I don't know.
Which question is easier?
Um, so I'm from Massachusetts.
Uh, I don't know.
I think sometimes that'simportant because sometimes I
cuss a lot and I try to keep itclean most places I go.
(04:48):
But I can be a little, uh, inthat way a communicate in that
way, a little abrasivesometimes.
And I'm pretty like verybusiness oriented.
I work.
Very fast.
I move very quickly and uh, I'vebeen pretty successful.
Um, I am a invest real estateinvestor, coach and consultant,
and I work with my clients allover the US and I help them
(05:12):
typically either buy their firsthome and live in a portion of it
and rent a portion of it onAirbnb, or I help them buy their
first investment property.
And put it on Airbnb.
So I work with first time homebuyers and first time investors
who are usually like househacking.
Um, yeah, I, um, built my smallportfolio of real estate in
(05:32):
Atlanta kind of on accident.
It wasn't my plan and I gotreally lucky, but a lot of
businesses start by accident.
Entrepreneur, expat was a halfan accident, so Totally,
totally.
I got lucky and just likehappened upon.
A friend who turned mentor andyeah, I'm able to live off of
that passive income now abroad.
(05:53):
And yeah, I live in Peru halfthe year and right now I'm in
CARNA, Columbia and I'll be, Idon't know where next.
What prompted you to to moveabroad?
I.
Yeah, a few years ago I wasactually in one of my Airbnbs,
uh, in Atlanta, and it just,like, something just hit me like
an overwhelming feeling.
Um, like I'm pretty intuitiveand I move with like my
(06:16):
intuition or my spirit, likewhatever guides me that way,
especially when it's reallypowerful and strong.
And so I just got thisoverwhelming feeling like I'm
not supposed to be here anymore,even though I love Atlanta.
I lived there for 16 years afterI finished college.
And it, it was odd.
It was odd for me'cause I waslike, really?
(06:36):
I really love it here.
But, um, I think in one hand,Atlanta as a city, in my
opinion, has gotten a littleoverdeveloped, overgrown.
It's just not as fun as it usedto be.
It's all a lot more expensiveand all that jazz.
Um, and.
I didn't necessarily know thatthe current election was gonna
go the way it went this year.
(06:57):
Um, but I just think more andmore I had become more
dissatisfied with the politicsin general in the us.
Yeah.
Talk about it.
We had comments, uh, just onthat very topic coming in last
week, we did a, a video about 11things we don't worry about
since moving to Mexico.
And one of the things that wesaid was like, we don't deal
with the polarization anymore.
And normally we've noticed thatif you're the type of person who
(07:19):
moves abroad, like you don't.
Fit into like the wholepolarized two party thing.
'cause you're just seeing itfrom a totally different
perspective once you're in othercountries and you're just like,
this is a mess.
Yeah, it's a hot mess.
It's a blazing hot mess rightnow.
Um, yeah, and I never felt likeI fit into either.
And I, for a long time felt likewhatever my values are and my
(07:41):
beliefs, like, they're neverreally represented.
So, um, I started going abroad afew years ago.
I would skip the winter'cause Idon't like the cold weather.
Mm-hmm.
From Massachusetts.
And so I would skip the winterand go to like the islands.
I went to Belize or Puerto Rico,Dominican Republic.
Spent some time in Mexico City.
Um, and after like the thirdtime I was getting ready to go
(08:05):
abroad again for the winter andI just stopped and I was like,
why am I planning to come back?
Like every time I came back Ikind of never really wanted to
come back, so I just decided notto.
Yeah.
Are you finding, um, that peopleare just finding,'cause this is,
I mean we're obviously seeing itin Mexico, we hear in Columbia,
(08:25):
uh, it's kind of similar rightnow.
I know you're there.
Um, are you just also findingthat perhaps something that has
changed is now'cause the worldhas changed so much that now you
can just find a lot of similaropportunities, same standard of
living or close to same standardof living and.
Obviously much higher quality oflife all over the world.
(08:46):
Like you're not stuck to US,Canada, Europe, Australia,
anymore.
Yeah, I think you can definitelyfind a very similar standard of
living in a lot of places, and Idon't even know if the world has
changed so much, like quickly.
I also have it like Americanstend to live in a bubble and we
just don't get out and we havethis idea of, oh yeah, there's
(09:07):
also that how, how life is likein other countries.
And then we go and we're like,oh, wow.
Like we're sold propaganda inthe states that when you kind of
start to travel, you're like,oh.
Like everything's fine here.
There's hospitals and there'splaces like if I get sick I can
get well and you know, there'shealthy food, often healthier
than in the US and so, yeah.
(09:28):
Yeah.
If not better, because it's moreaffordable for us.
Yeah.
It's better'cause it's moreaffordable because you're doing
the ultimate hack, which is,hey, I'm earning in dollars, but
I am living, uh, in pesos, forexample, or Thai B or whatever
it is that people go do.
That's like the ultimate hack.
I was telling my husband justthis morning, I was like, I
(09:48):
almost feel like I'm cheating.
I'm obviously not right, but,and none of us are.
We've worked our asses off forthis and made.
Difficult decisions and changed,but it's almost like you feel
like you're cheating in a way.
'cause it's like, wait a minute,I understand business.
I know how to earn in dollars.
Uh, entrepreneur expats, to thepoint where we get applications
for relocation consults everyday.
Automatically just off ofYouTube.
(10:10):
Um, you know, so we understandthat whole game.
And then we moved to anothercountry.
So now we're doing the geo, thecurrency arbitrage, and then we
also reduced our tax bill fromthe us.
Like we, we feel like we'recheating.
Mm.
It can feel that way.
Yeah, you can.
We can.
(10:31):
Like we're not, we worked ourasses off for this.
Um, but it's almost like a,whoa, like once you see that all
start coming, uh, together andpeople don't realize these are
like wealth hacks.
These are some serious wealthbuilding hacks, um, that if you
just change your, you know, you,you start learning how to make
money on your own.
(10:51):
So you're already getting taxadvantages there.
You're in real estate, you geteven more tax.
Advantages, uh, being in realestate.
Um, and then you start takingadvantage of geo arbitrage.
I mean, you can pay off debt,you can invest, you can get
savings.
You can, uh, open your world tomassive opportunities in other
countries, not just the countrywhere you're from.
(11:12):
I mean, it really just expandsyou in a way that's just not
possible if you just stay whereyou are.
It absolutely does in a lot ofways.
Yeah.
I feel like we're very luckyalso to have been.
Born in the US and have thatopportunity be so easy for us to
do.
Yeah.
Yeah.
Where you, where you learn that.
It's like we tell people, likeyou take what's good of each
(11:34):
country, right.
And then you just make it workfor you.
Like take what's good about theus.
A lot of us learned how to makemoney and earn in dollars.
Uh, but learn how to do thatonline and go take it somewhere
else.
Yeah.
Yeah, it works.
I like it.
It works.
So how, okay, so how did you endup picking Peru?
I'm interested in this'causeit's come up a few times in the
(11:54):
expat spaces, uh, and also in inWhatsApp conversations that
we've had.
It seems like there's morepeople interested in Peru now,
um, for residency.
So how did you end up coming upon the decision of Peru?
Yeah, um.
It was sort of like an, I didn'tknow where I wanted to live.
Like I, when I left the US Ikind of came to CARNA for three
(12:18):
months because I love it here,but I wasn't sure if this is
where I wanted to like rootdown.
And then I kind of bouncedaround Mexico a bit and Mexico
City and Marta and Oaxaca andwhatever, and, and then I
decided to come, I planned atrip to Lima because I really
wanted to get like some, Iwanted to get some cooler
weather.
Like, I love the heat, but alsoI love like a good fall feeling
(12:41):
where I like to wear a scarfsometimes.
Well, you're from New England,so I missed that.
I was in this hot weather forlike almost a year.
Um, and then I was planning togo from Lima to Bueno Saturdays.
And when I got to Lima and Ichose these cities, I should
say, because I, after liketraveling abroad for the
winters, I realized there waslike things I was looking for in
where I wanted to live.
(13:02):
I wanted to live in a massivecity.
Because I'm very fitnessoriented.
Like I like a, I like a reallygreat gym.
I like to dance.
I like rock climbing gyms like Ilike to do cool stuff that you
typically only find in reallybig cities.
So I picked Lima because it wasa huge city, and I like a city
on the water because I'm kind ofspoiled now.
And.
(13:22):
I live my life with an ocean,ocean view.
Like I don't, that's anon-negotiable for me now in my
residence.
So I needed a big city on thewater.
I wanted somewhere.
That was cool.
I decided to go to Lima.
I had a whole trip planned toBueno Cyrus after that.
And when I got to Lima afterfive days, I was like, I'm not,
I canceled the Bueno Cyrus trip.
And I found out after cancelingthat too, like a couple weeks
(13:42):
later, I started to ask more andmore about, you know, residency
because they give you anautomatic 90 days when you get
there, but that's it.
You know, you're supposed toleave and come back or whatever.
Um.
I then found out that theresidency process is really
fairly simple, very easy,comparatively, and very
affordable.
Um, and there's a short path todual citizenship in Peru, like
(14:06):
two years.
Oh, yes.
Once you have residency, you canapply for dual citizenship
within two years.
Like that's really short.
Yeah.
And I had that in the back of mymind that I would like to have
another citizenship somewhereelse, uh, as a, you know.
Something back on.
Mm-hmm.
Yeah.
Mm-hmm.
Yeah, we're working on Mexiconow.
Um, yeah.
But, uh, we tell people a lot oftimes on this channel, we're
(14:28):
like, look, a lot of people getstarted in Latin America, number
one, because it's moreaffordable, number two.
Usually more straightforward forresidency.
And number three, you canactually become a naturalized
citizen that is not typical, uh,all over the world.
It's, it's kind of unique to theAmericas.
So if you're looking for likeyour first plan B passport and
you don't qualify via ancestryor anything like that, a lot of
(14:52):
people get started in LatinAmerica.
Yeah.
Yeah.
And I, there's like consultantsdown there that do it.
I worked with a team and theymade it really easy for me.
So it's kind of a no brainer.
Yeah.
And once I got my residency, Inow have health insurance.
I have Peruvian health insurancefor$4 a month.
Like Wow.
Yeah.
Mexico's more expensive on thehealth insurance front from
(15:13):
Latin America.
Peru is cheap also.
I'll say that'cause I've spent alot of time in Mexico City.
My best friend lives there.
I, I enjoy Mexico.
It's gotten really expensive ina lot of places compared to
other parts of Latin America.
So.
Your dollar goes really far inLima.
I enjoy that.
Yeah.
Mexico is really, it's, it'sturning into a bit of an
economic powerhouse andeverybody and their mom
(15:34):
literally from all over theworld is trying to move here
right now.
Yeah.
So obviously that, that causesan increase in prices and
there's all their other factorsto it as well.
But Mexico's kind of doing oneof these right now, uh, and then
the prices are going up with it.
Very, very much.
You also just need to know howto hack it and who to talk to.
(15:55):
Like on our team, for example,of real estate people,'cause we
help people relocate.
We're like, listen, you gottamake sure that people don't get
gringo priced because, or gringotaxed.
Because part of the problem islike the gringos come, they
think it's cheap, but they'reactually getting kind of taken
advantage of and then thatincreases the prices for
everyone.
That's a, that's a part ofwhat's going on too, but, uh,
(16:16):
yeah.
Okay.
So what is the process forresidency in Peru?
Like, and, and what is it thatthey ask for?
I could tell you very littleabout that.
I hired consultants and I justdid what they told me.
Like, well, that's the best wayto do it, girl.
Yeah.
Like, I don't wanna do it onyour own.
That was like six that startedback, back in October, I think
is when I started.
So, I mean, we opened up a bankaccount on my first day.
(16:40):
Like Scotiabank will allow youto open up a bank account there
without residency yet.
And then we had to go to anotherbank and do some other stuff.
I had to get a background checkfrom the states submitted.
So how about, talk about why youchose to just hire it out?
Because a lot of people willstick it through and try and do
it on their own.
Don't know a whole bunch ofcountries.
I don't have the time, energy,or interest to do that.
(17:00):
Hell no.
Like I'm not into bureaucraticstuff.
I kind of hate paperwork, hateall that stuff.
No, I'm happy to pay somebodyelse to handle it for me.
If they're available.
Yeah.
No, I do.
Perfect.
Okay.
It took like three months, I cantell you that took like three
months.
Three months for the wholeprocess.
Yeah.
That's not too bad, includingopening the bank account and all
that stuff.
That's not, that's not too badat all.
(17:22):
Um, did you have to like go backto the states and do part of it
over there, or is everythingjust done in Peru?
Everything was unimproved.
Oh, it's so fascinating howdifferent countries do it.
Yeah.
They all have their own nuancesof how they handle these things.
Okay, so let's get back into theAirbnb and how you actually make
money, because half of theaudience, um, they're very
interested in Airbnb as a meansof, you know, generating some
(17:47):
sort of income.
So then they are able to move,um, abroad.
So if someone's in that spaceright now where they're like,
Hey, I think.
This is how I'm gonna do it.
Right.
Where would one get started?
I know you have courses andprograms and all that kind of
stuff, so we'll leave it, um,down below.
'cause I know you can't answerin like a 30 minute interview,
(18:09):
but Right.
To the best of your ability.
Right.
If someone's in that space rightnow.
I guess a better question iswho's a good fit for it?
Maybe that's a better question.
Um, because yeah.
It's kind of like everybusiness, like not everybody can
do every business.
Not everybody has the profilefor it.
So who's actually a good fit forbeing like, Hey, air, Airbnb
(18:30):
would actually work for you,like this profile of a person.
Um, I would say there's a,there's a number of people that
it would work for to be quitefrank.
Like it can work for a young oreven a mid-career professional.
It can work with who's single ora couple who wants to do it
together.
Probably be a little easier ifyou have a partner to do it
with, but not impossible to doit alone.
(18:51):
Um, I also have some clients whoare older and wanna eventually
retire out of the us but they'relike ready to go remote now,
like 10 or 12 years early.
Um.
It makes a difference, you know,to have a good, stable job.
I mean, some solid income alwaysmakes a difference to be able to
have the funds to acquire theproperty.
(19:13):
Not only that, but like to setup the property to furnish it
and then like if you're, if orwhen you're abroad, if there's
things that are happening, youknow, you're hiring a property
manager to manage a lot ofstuff, so you wanna be able to
absorb some of the costs thatmay come up on owning a property
while you're abroad.
So.
Somebody who has a decent amountof disposable income, I think
(19:34):
would make a big difference forthem.
Um, yeah, and if you're lookingto build wealth, like you buy a
house that's going to appreciatein the future, then that's
always a benefit too.
But I think there's a prettybroad spectrum of people that I
can fit for as long as you canwork remotely.
Yeah.
And I think with Airbnb or realestate in general, a lot of
people perhaps, uh, an objectionthey would have maybe along the
(19:59):
lines of like, oh, okay.
But because you hear peoplesaying this, like it's not
really passive, like you have tobe there all the time, or if
something breaks, it's on youor, um, you know, you're the
owner.
So like every, everything thathappens with the house, like you
have to handle it.
So some people will make theargument that it's not that
passive.
Or they might not see a pathwayin terms of like, well, how
(20:21):
would I be able to do thisremote if I have physical
properties that I have to dealwith?
Like, wouldn't I have tophysically be there?
Mm-hmm.
Yeah.
Yeah, I think that's a bit of amisnomer.
Like there are people who ownvacation properties in other
states and that have been doingthat for decades.
Like that structure is not new.
(20:43):
What's new is.
People going abroad now.
Um, but with a great propertymanager or I have a lot of
clients who have family whomaybe have like kids and they
don't really wanna leave the USat least not yet, or family who
for whatever reason, they'retaking care of an elder or
somebody, they have local peoplewho can help them manage.
(21:04):
It's not a problem at all.
And, and you can set it up towhere you like, rarely ever hear
a word about it and you justcollect money in your bank
account.
It's really in how you set itup.
You go through all of that inyour courses.
So let's get into how else youmake money, which is the fact
that you now teach people, um,how to do this for themselves,
which is, you know, takingadvantage of the knowledge
(21:25):
economy.
Mm-hmm.
Which is what we tell a lot ofpeople.
Like if you're an expert insomething, you can turn that
into a business course.
So how did you come across, howdid you come to.
To doing that, right?
Yeah.
Or was it just kind of like anatural progression, like I'm
already doing it, I'm gettingall these questions about it.
Let me just start answering thequestions and get paid for.
Yeah.
Yeah, so it was sort ofserendipitous.
(21:47):
Like once I, when I, like Ibegan my career.
After I finished grad school, Ibegan my career in the nonprofit
space, uh, working at communitydevelopment organization,
teaching their home buyer intheir home buyer program.
It was not at all what I plannedto do with my career, but I
ended up really loving it.
And so I worked with first timehome buyers for, I have now for
13 years.
And so for the first eight I wasworking in two different
(22:08):
nonprofits.
Uh, and so through that processI bought my own house and
started Airbnb, my guest rooms,um, because I liked the
flexibility of it.
I didn't want a long-termroommate.
Like I wanted to be able to makethe money that I wanted and then
close the calendar when I wantedmy space to myself for a week or
whatever.
Um, and so, and then once Imoved on to property number two
and property number three, atnumber three, I kind of felt
(22:30):
like, okay, I can now start likereally helping people do this.
Now that I've done it and I've.
Been through a lot of thehiccups and the roadblocks and
all that crap, like I wentthrough all the obstacles that I
can help my clients not have togo through.
Um, so I had a history ofteaching and counseling and
coaching already in thenonprofit space, and so it was
just sort of a naturalprogression when I decided to
(22:52):
quit my job and becomeself-employed full-time, I had
Airbnb income already coming in,so I didn't have to worry if my.
Coaching online business didn'tmake money for the first like
six months or whatever.
I was gonna be fine.
So it gave me the freedom to dothat.
And I love to teach, I love tocoach, I love to work with
people anyway, so it just kindof made sense.
(23:13):
How long have you been doing thecoaching part?
I've had a coaching business forof, of some kind since 20 15, 10
years.
Um, it looked different.
Then I was like, because I wasstill working in the nonprofit
space, I had friends who didn'twanna become a homeowner but
wanted help with their budget orhow to plan for their taxes or
stuff like that.
So I created a small little sidecoaching business to help my
(23:35):
friends and people who wouldn'tcome to the company I worked for
anyway.
Um, and I wasn't reallycompeting.
Uh, and then a highly trainedcoach in other areas like
communication and just likegeneral life activation,
empowerment coaching.
So I did a lot of that coachingearly on until I quit my job and
I created this.
(23:55):
I'm wondering if you've seenlike an increase in interest of,
'cause you mentioned that, forexample, the thing that's
different now is that people aregoing abroad.
So I'm wondering if you've, um,it sounds like you've seen like
an increase in interest ofpeople being like, here are the
Airbnbs, but I'm dipping out ofthe United States, and then the
Airbnbs are just gonna, itsounds like you've seen an
(24:16):
increase, um, yeah.
Over the years.
What do you attribute it to,just based on the conversations
that you're hearing from peopleas to why they're considering
that?
Yeah.
Well, yeah.
I mean, I'm sure you hear it alljust like we do, but yeah.
Yeah.
Yeah.
I mean, there was a spike, youknow, this year in January after
the election results, of course,like a huge spike and, uh, there
(24:39):
was all, it was already startingbefore that, um, I think would
attribute it to, I think, Ithink the pandemic.
Gave people the awkward, a lotof people, the taste of working
at from home or workingremotely.
I think that's one part of it.
When people realize, oh, I don'tnecessarily have to be at the
office.
I don't have to be in Cincinnatior whatever city they live in.
(25:01):
And then it was like, I don'teven have to be in Ohio.
I don't have to be in theStates.
I think it kind of just likethat, that had that progression
happen.
And I think also.
The cost of living has gone upin the US like steadily and
quite a bit in the last fewyears.
I mean, I have friends, like mybest friend moved to Mexico City
like six, seven, almost sevenyears ago now.
(25:23):
She was early, an early adopter,and I don't think at that time
there wasn't as many peoplegoing, but in the last like
three.
Or so, yeah, Mexico stayed openduring the pandemic.
So it saw, it was one of theonly countries that was open, so
it and was more lax.
Uh,'cause the president at thetime was like, I'm not ruining
our economy over this.
Wear a mask basically and washyour hands.
(25:46):
Um, so they were closed, butthey were a lot more lax.
Uh, and people could go in andout.
A lot of people got stuck, uh,in Mexico because they couldn't
go back to their home countries.
'cause the pandemic caught themhere.
Then Mexico had to regularizeall those people.
Like there's a lot of factors asto why everybody's ended up in
Mexico.
Mm-hmm.
Um, but we can see it just fromour stats, uh, on the website.
(26:09):
There's people from all over theworld trying to move here right
now because they think there'sactually a lot of economic
opportunity in Mexico.
A lot of people think Mexico'son the verge of its golden age.
I believe that's probably true.
Yeah.
Yeah.
I mean, we literally, uh,Americans are the top one,
obviously then Canadians.
But if we look at our stats,we're getting Australians,
(26:29):
people from Asia, people fromEurope, other Latin American
countries, a lot of people gottheir eye on Mexico.
So there's a lot of factorsgoing on.
That's, uh, that's whereeverybody's ended up in Mexico.
Yeah, yeah, yeah.
But yeah, people have been goingabroad, I think more in the last
few years because of thosereasons.
Yeah.
And then, um, Mexico also, um,has a relatively straightforward
(26:52):
residency process.
Um, and then you don't have tolive in Mexico to have the
residency.
So a lot of people would justhave it in their back pocket, go
in and out.
All that kind of stuff.
And then it has a generous, uh,tourist visa, although they are
cracking down, uh, because it'sgotten so overwhelming that they
are cracking down and tighteningup their systems.
Um, because I mean, we were justtalking to the immigration
(27:14):
attorney that we work with theother day and she's licensed in
Mexico and the US so she helpsour clients on both ends.
And uh, she was like, theconsulates in the United States
for Mexico are absolutelyoverwhelmed.
With Visa appointments, likeit's getting harder and harder
to get appointments.
You have to like know peoplework with an attorney who can
get you in.
I mean, it's, it's gettingpretty balls to the wall.
(27:36):
I believe it.
Yeah.
Um, but, but to your point, youknow, there's other countries
that are seeing surges.
I mean, Costa Rica saw surge,Panama saw surge.
Um, Columbia saw a search.
My husband lived in Columbia forthree years in Meine, and he was
like, I got there before all theAmericans got to Meine and now
Meine ISS full of Americans.
Oh.
Full, completely full ofAmericans.
(27:57):
Yeah.
Um, you know, I, I know a lot ofpeople got their eye on
Argentina.
Um, trying to see like whathappens over there?
Are there investmentopportunities?
Is it a decent second passport?
So Latin America's, a lot ofpeople are very interested, um,
in Latin America.
And then of course we hearabout, you know, Southeast Asia
all time as well.
Those are the two that come upthe, the most.
(28:18):
It's, it's really interesting.
My mom says it's a globalmusical chairs.
Could be.
Oh, may maybe could be.
I like that.
I like that.
Yeah.
There's just people movingaround all over the place and to
places that they never would'veconsidered.
And, and you also take intoaccount that now there's more
and more, uh, like marriages andrelationships happening.
(28:39):
Uh, more multicultural.
So I mean, we interview peopleall the time who ended up in
other countries'cause of theirspouses.
Yep.
I ended up in another country'cause of my spouse.
Yeah.
I think it's a great thing.
Yeah.
So there's a lot of reallyinteresting stuff, um, going on.
Okay.
So back to the Airbnb for thepeople who are like, this is my
thing, where do you suggest theyget started?
(29:00):
Um, in terms of research?
Obviously you Right, but where,where would you recommend that
they get started in terms ofreally trying to understand, you
know, how this world works sothat you, like you said, they
avoid a lot of the pitfalls thatyou experienced.
Hmm.
I mean, there's a ton of likeFacebook groups that get,
(29:20):
there's like people who aregurus that share information.
There's a ton of people who justhave like mini, mini courses
that they share.
Um, I largely do one-on-oneconsulting, and then I have a
DIY course that I've justlaunched this week that's like
super affordable for folks.
Um, and that teaches everybodyfrom start to finish there.
But I think truly, you know.
(29:43):
I think it's a cool thing toliterally go on Airbnb as if you
are looking to travel to acertain place.
Like if you're thinking of, forexample, putting up an Airbnb in
Florida, whatever part, right?
Like go on Airbnb, like you'regonna travel to that city and
just see what the options arelike, like if you're gonna, if
you're thinking you wanna putone up in Miami, go look at your
(30:04):
competition.
See what their nightly ratesare, see what the properties
look like, and then you can takethat and go to realtor.com and
see like, how much is this gonnacost me?
Can I afford a property likethis?
What can I afford?
And then go back to Airbnb andbe like, how much money is that
actually gonna make me?
And you can open their calendarsand see how booked up a listing
(30:26):
is or isn't.
And that doesn't necessarilymean that the best listings are
always booked up.
There's some great listings thatmaybe just don't have the best
marketing, don't have the bestmanagement.
You can make a lot of thingswork.
But I think that's the best wayto actually get started is go to
the source and see whatproperties are earning nightly,
look at how much their calendaris booked, and do the math like.
(30:47):
10.
I became an Airbnb host in 2015,like.
Eight years ago, like two yearsafter I became a host, I started
doing this myself.
This is before Price Labsexisted and all of that stuff.
And you know, I kind of just hadto do my own data digging from
scratch, from airbnb.com when Iwas looking to buy my next
(31:08):
investment property and figureout where I was gonna buy it and
what made sense.
Like I just pulled a bunch oflistings and did the math.
I think you can get a lot ofvalue out of that alone instead
of just like taking people'sopinions about stuff.
Go look at the numbers.
I've seen you posting onFacebook recently because I'm
thinking about the cost ofliving and how cost of living
has gone up in the UnitedStates.
And I'm thinking there'sprobably people watching or
(31:29):
listening to this right now thatare like, Hey, that's great, but
like housing prices are throughthe roof, uh, in the United
States.
I'm looking at other countriesnow.
We'll get to the other countriesin a second.
Right.
But you have been, uh, postingsomething interesting on
Facebook that I've seen thisweek about people thinking that
they need the 20% down, but theydon't actually down payment for
the United States, but.
(31:50):
They may not actually need the20% down, so no real talk.
90% of my clients, you're gonna,you're not gonna believe me when
I tell you.
90% of my clients spend lessthan$5,000 outta pocket to buy
their property.
Granted, they live in it andtheir intention is to live in
it.
At least when they buy it, theirintention is to live in it and
(32:12):
they live in part of it and theyAirbnb part of it.
That's how 90% of my clients getstarted, and I recommend that
more than anything in the worldbecause you end up buying a
home, you now have an asset,someone else is paying your
mortgage.
You get to learn how to become ahost.
On site, like you said, a lot ofpeople think, I can't just buy a
property and leave while youcan.
You'd probably be a lot morecomfortable and have a lot more
(32:34):
confidence in that if you didn'tand you lived there part-time or
for time, and manage it yourselfso you know what the process is
like.
That way when you go to moveabroad, you're not having a
property manager or cleaners orwhomever like try to tell you
that they wanna charge youthrough the roof for whatever
service they provide, becauseyou know what it took.
(32:54):
Right.
Like you're like, it doesn'ttake me three hours to clean,
and then it takes you an hourand a half, like, you know?
Right.
Same thing as running abusiness.
Like you know what the KPIs andtheir metrics are based on what
you did first.
Mm-hmm.
Yeah.
Same thing.
So you don't need 20%.
Now, if your intention flat outis just to buy a home and never
touch, set foot in it, neverlive in it.
(33:15):
Nothing.
Yeah.
There's not really, and youdon't plan to ever be there at
all.
Yeah.
20% is.
Standard.
There's no other way aroundthat.
Um, and if you're willing to, oryou are interested in living in
it for a time or even living,splitting your time, 50 50,
there are ways to do it.
A lot more affordably than that,and most of my clients do.
(33:35):
Okay.
So we'll leave the informationbelow for those who are
interested in doing that first.
The other question that we get.
Is, uh, Airbnb in othercountries.
Mm-hmm.
So, for example, right?
Yeah.
Yeah.
Um, I don't think people realizehow different it can be from
country to country.
Mm-hmm.
Uh, depending on what's goingon.
But for example, we will getcomments and they'll say, okay,
(33:56):
well my plan.
You know,'cause we getapplications for relocation
every day.
So people are telling us some oftheir plans and sometimes
they're like, well my plan isto, uh, buy real estate, for
example, in Mexico, which iswhere we can help people find
real estate, um, and investmentopportunities.
And my plan is to, for example,Airbnb it, right?
So for those who are like, Hey,my plan is like.
(34:18):
If I don't wanna buy an asset inthe United States, uh, maybe I
wanna go buy an asset in Mexicobecause I can get higher returns
on a vacation rental or anythinglike that, you know?
What advice would you have forthose people?
Because, you know, the UnitedStates is very regulated and
lots of other countries are notas regulated, and the US has
certain rules and othercountries have other rules.
(34:40):
So what would be your advicefor, for those?
And not just Mexico, but youknow, we hear Dominican
Republic, Costa Rica, we hear itall.
I hear, I hear it sometimes too.
I have people contact me a lotsaying that's what they wanna
do.
And while I could and I would bewilling to help somebody
navigate that, I haven't done itmyself, you know, and there's a
lot to consider.
(35:02):
Um, you know, I don't know that,like, like you said, the
regulations is one aspect.
I also don't know that aircover, Airbnb, air cover
insurance is the same country tocountry.
You know, if you have Airbnbguests in your house in the
States, and they.
Light, a fire on accident inyour kitchen and they burn your
kitchen down.
Like Airbnb is going toreimburse you for that at some
(35:23):
point.
May take them a long time, butyou're going to get reimbursed.
I don't know that that holdstrue everywhere else, you know,
I just don't, I personally don'tknow.
Um, also, every city has theirown regulatory oversight, uh,
and then countries in generallike.
You know, like if we go to astore, whether you're in Mexico
(35:44):
or you're in Peru, or you're inColumbia, and we slip and fall
and we break a leg.
We're not suing anybody.
No, not in Latin America.
That's not happen happening.
They're really the idiot whofell.
Exactly.
But in the states there's a wayto get like compensated for
that.
So I think people forget, like alot of Americans, they bring
their American mindset and theyto this, to this possible
(36:06):
investment.
And there's a lot that they needto consider that like stuff like
that.
If something happens, like.
You may not be made whole.
Like it's there.
It's riskier.
It is by for sure.
So let's talk about that.
For those of you who are lookingfor real estate in Mexico, we've
got real estate people,attorneys, notaries, like it's a
little bit, people are used todoing vacation rentals and
investment properties in Mexico.
(36:27):
So it's perhaps a little bitmore, um, thought out.
I guess is the word I'm lookingde uh, developed.
Um, yeah.
And in like Costa Rica and stufflike that as well.
Probably.
I don't know about DominicanRepublic.
I know a lot of people arestarting to go over there.
But, um, talk about the Americanmindset because that is actually
something that we talk about alot.
With our clients.
Mm-hmm.
When it comes to likeimmigration process and buying
(36:49):
real estate in other s forexample, we have a lot of
questions coming in about, uh,and we'll have our real estate
people, uh, hear from Mexicodoing videos to answer a lot of
these questions.
But we had one come in recently.
That was like, uh, hey, so canI, is it worth it to buy
foreclosed properties in Mexico?
Like, is it, uh, like, is itworth it?
(37:11):
What is the state of the, the,the property?
And I'm like the foreclosureprocess here, like when
something's in here is not thesame as the United States.
'cause like over there, um, andthis is what our real estate
people have told us.
They're like, you could, butit's gonna cost you an arm and a
leg in lawyers.
And like the process isdifferent.
Um.
Because like over there in theUnited States, for example, like
(37:32):
the bank just kicks you out.
They have an asset they'retrying to get rid of and then
you can get it for cheap.
Right.
Here's not quite that simple.
Yeah.
When you have a property that's,uh, in cio, um, as they call it,
so sometimes we have seen thattoo.
Or the other thing that we haveseen is um, because they're not
exactly sure what the rules andthe systems are of the country,
(37:55):
then they accidentally end upbreaking the law.
We've seen that happen, um,sure.
As well.
Mm-hmm.
Which I guess is another part ofthe mindset of like, oh, okay,
I'm just gonna trust anybody inwhat they tell me in this
country where I don't know wherethe systems work.
Um, so what do you have to sayabout like, those things?
Like what should people keep inmind now that you have the.
(38:17):
Experience of having Airbnbs andobviously having lived in the
United States, and then alsospending a lot of time perhaps
not investing in othercountries, but living in other
countries and Yeah.
You learn how stuff works.
Yeah.
Like, you know, you could buy aproperty.
I help my clients buy propertiesin the US and from the day that
they get their mortgagepre-approval till they close,
(38:40):
typically 45 to 60 days.
Woo.
You know?
Right, exactly.
Not always like that in LatinAmerica.
Exactly.
Coming to anywhere in LatinAmerica, like do not expect the
same amount of efficiencytimeliness.
Clarity through the process.
Like I, I haven't bought aproperty abroad and I've heard
stories, like it just takes alot longer.
(39:02):
It depends, like in Mexico it'lldepend like who's the real
estate person, who's the lawyer,who's the, so when we built our
team, um, like for example,there's this other thing in
Mexico, a lot of people don'tknow this either about buying
property.
In other countries we are, likein Southeast Asia, you
technically.
Can't own property, quoteunquote.
It's like freehold leases, uh,because the property is reserved
(39:24):
for the citizens.
Now, I think if you're in abuilding, it's a little bit
different in Thailand.
Like you can own a condo, butlike foreigners cannot own more
than 49% of the condos.
The building.
But if you have a house, thenthe foreigner gets 49%, the Thai
person gets 51 or you do afreehold lease.
Mexico has that too.
Um, and so do other countrieswhere there's certain areas
(39:45):
where you can buy as a foreignerand other areas where you have
to do freehold leases.
So for example, here in Mexico,we have a company that we work
with that specializes in thefreehold leases.
Um.
For the foreigners that we haveto vet, and if they do it, the
process can take one or twoweeks to get the permit
approval.
If somebody goes to do it ontheir own, forget it.
(40:06):
It's gonna take months to go doit.
It is just not the same.
It's just not the same at all.
And then people get veryfrustrated with the process
'cause they bring that sort oflike, oh, it's the United
States, all this stuff.
Uh, like it's so efficient inthe United States.
(40:26):
And we're like, yeah, thesethings are not as efficient in
other countries.
It just takes longer.
Or the legal process isdifferent.
Or there's places where you canbuy and places where you cannot
buy.
Um, as a foreigner.
So other than like it not beingthe same process, what would you
think are things like threethings that people like
absolutely need to consider ifthey're considering perhaps, you
(40:50):
know, doing Airbnb or buyingproperties in another country
that's not the United States?
Yeah.
Um, do you have a generousamount of your own personal
capital, whether it's likeinvested somewhere but
semi-liquid?
Or assets, like can you absorb amajor loss if you were to have
(41:12):
one for one?
Because there's just not thesame kind of consistency or
protection in other countries asthere typically is, and we're
used to in the states.
Um, I think number two.
If you're not, some people arebuying properties and
developments where they alreadyhave, like, you know, if you buy
a condo in a condo building andit's used to Airbnbs, there's
already cleaners on site,there's a whole management team,
(41:33):
like, cool.
But if you're not doing that, ifyou're looking to buy like a
freehold, like a, not afreehold, like a standalone
property, a single familysomewhere, wherever I.
You know, do you have therelationships locally?
Like one of the reasons that Ireally encourage my clients,
even though ones wanna buy amove abroad to buy in the
states, and they always ask me,where should I buy?
I say, wherever you are, becauseyou have relationships there.
(41:55):
You have people you can trust.
Even if you don't know someonedirectly who can property
manage.
You probably know someone inyour circle who can refer you to
someone like you've got a coupledegrees of separation.
Very few.
To trustworthy people that canhelp you manage your property,
keep an eye out, clean it, anddo whatever you need.
Um, what would be the third ifsomeone wants to move abroad?
(42:16):
Um.
I, I would say, and I'm not anexpert in this in any capacity,
but like research the taxes andfees.
Fees and the closing costs andall of that.
Because it varies widely countryto country.
Yes.
And if you were to sell it.
Yes.
Math.
I'm glad you brought this up.
What's gonna take, I'm so gladyou brought this up.
'cause here's the thing, a lotof people don't know, and again,
(42:37):
we specialize more in Mexico'cause that's where we're
spending most of our time andpeople are asking us about.
But for example, in Mexico,let's say you buy a property and
then you are a foreigner.
We recently did a video onwhether or not the Mexican
passport is worth it, and weforgot to mention this part in
terms of getting Mexicancitizenship.
So if you were to buy a propertyas a foreigner in Mexico and
(42:57):
then you go sell it and you'restill a foreigner, oh, you're
gonna get taxed.
Big time.
Mm-hmm.
Big time.
Now, if you're a citizen, um, ofMexico, then you don't pay as
much, um, in the tax.
And then again, when we builtour team, like we've got tax
attorneys, the lawyers, theaccountants in both countries
and all that kind of stuff.
Because to your point, it canget very messy when you're
(43:18):
dealing with taxes in multiplecountries and then a country
that you're not, um, that you'rea foreigner in and you don't
understand how the system worksand all that stuff.
You just, yesterday actually.
Uh, we were talking to one ofthe CFOs who helps our clients,
uh, with their Amer with theirbusinesses based in the United
States, but they're livingabroad.
And he told us a story.
(43:39):
He's Mexican, and he's like,yeah, I had American clients.
They had American businesses.
They came to Mexico City.
They started doing Airbnbs inMexico City.
Um, and they did the, theregistration of the company in
Mexico correctly.
But they screwed up on the tax,uh, application, and they ended
up having to shut everythingdown.
(44:00):
Because they've tried to do iton their own.
Yeah.
Without necessarily likeunderstanding the system and how
it works.
Yeah.
Not a good idea.
Yeah, not a good idea, um, atall.
So I'm glad you brought up taxesbecause that can get very, um,
hairy and a lot of people don'trealize that a part of this
moving a broad journey is youhave to tax plan and you have to
(44:21):
do tax strategy.
A lot of people just like leaveand move and didn't think about
the taxes.
Yeah.
Okay, thank you.
Yeah, they're like, oops, uncleSam is still charging me
California state taxes.
And we're like, yeah,'causeyou're domiciled in California.
You gotta go domicile in Floridaor something.
Right.
(44:42):
So a lot of people don't, or youknow, like to your point, when
you start buying properties andthings in other countries, like
what's the tax like, uh, whenyou buy, when you sell, what are
the closing costs?
And again, for those of youinterested in Mexico, our team
handles all that stuff and runsall the numbers, so you don't
have to like, freak out aboutall of that.
Um, but if you're trying to doit on your own, to your point,
(45:03):
like it gets crazy, it getsreally, really crazy and very
confusing and very complicated,very fast.
Like I said, we've, we've hadsome, uh, we've had stories come
in where people got defraudedhalf a million dollars.
'cause like the land didn'ttechnically exist.
We've had that happen.
(45:24):
We've had people who pay for aproperty completely in cash, um,
and didn't realize that there'slegal limits to how much you can
pay in cash in Mexico.
So they.
Broke the law and so did thenotary that they were using.
Or they get told, for example,like, oh, there's no such thing
as an intermediary here.
(45:45):
And we're like, that's bullshit.
There's intermediaries, uh, tobuy properties, uh, in Mexico.
So I guess all of this to say,and I guess you would agree,
don't try and do it by.
No, it's not worth the, it's notworth the headache or the loss
of money to try and do it byyourself.
(46:05):
Not at all.
Business and life lesson.
For sure.
Okay.
Where, um, can people learn moreabout you?
Because I see you posting onFacebook all the time about
stuff about Airbnbs and thingslike that.
So where can people go to getstarted in learning more about
you and what you offer and theresources that you have for
(46:27):
those who are like, Hey, okay.
I think I'm cool with startingin the United States.
This is more of a long term planfor me.
Uh, and then actually, I justthought of another question for
those in terms of like timeline,in terms of like.
How long before they buy in theUS before you think they can go
abroad and do it with the leastamount of hiccups possible?
With the Airbnb?
(46:49):
Yeah.
I'm sure it depends, but if youhad to like measure it somehow.
I would say, you know, ifsomebody were to close on their
property today, right, it'sgonna take them at least a
month, if not six weeks, to getthe property furnished and
painted and all the things readyfor them to take their first
guest and for them to be, feelready to take their first guest.
(47:11):
And then I would say do that fora good six months.
Like, don't shortchangeyourself.
You could do it for shorter.
I would recommend doing it forsix months.
Okay.
Then after six months, do youthink they would be ready to
start making the plan abroad?
Yeah.
I mean, at six months they coulddip out.
Like you could, oh, okay.
(47:32):
At month, like three or four,you could start like having
people help you.
You could start turning over,you know, some of your
responsibilities to peoplelocally while you are still
there, over overseeing thingsand stuff like that.
Like you have some portion whereyou're doing it all yourself and
then you start to scale it.
Oh.
Scaffold yourself out, butyou're still, I guess, for, for
those who are, the more theanalytical numbers, people who
(47:54):
follow us, they're probablywondering this question, which
is like, okay, well how much,uh, how many properties am I
going to need?
I'm, I'm sure it depends whereI.
How much cash flow you'regetting and all that kind of
stuff.
There's calculations to thisthat Tawny can help you with.
Right.
But if you had to like ballparkit, I know somebody's wondering
this question, which is, youknow, how many, what's my goal
(48:18):
of the properties to be able toearn enough money where I can.
Book it and go overseas, likefor example, right in Mexico,
they're asking for about$4,100 amonth to prove in monthly
income, uh, for the temporaryresidency.
So if someone's first goal is$4,100 a month, so I can go to
Mexico, you know, what shouldthey be looking at in terms of
(48:39):
how many properties, um, they'regonna need or how they set that
up.
Uh, and$4,100 a month is not alot in my world.
My clients typically make six toeight KA month on their first
property, so there you go.
So you need one?
Yeah, I was thinking muchhigher.
Like if somebody wants 10 KAmonth or more.
Really depends on how much moneydo you have to spend on a house.
Like you can make six to eight Koff of a house and spend, give,
(49:03):
or take 300 k depending on themarket.
That's, you know, that's inwithin range for most of my
clients who make about 75,$80,000 a year.
You know, any more that you canspend, you can probably earn a
little bit more with some keyfeatures and stuff.
But I mean, if you wanna makemore, yeah, if you have like
enough, you could buy a half amillion dollar house.
(49:23):
You know, you can probably turnthat into a 10 k monthly
strategy if you want foryourself.
Okay.
That's really good.
All depends on the strategy andhow much you want to have.
Yeah, in your pocket.
Like I have three because I didthis when I didn't have a plan.
I didn't know what the hell Iwas doing.
You know, like I've thought ofit and I may like go back and
wipe all three and turn it intojust one.
(49:43):
Like it would be easier withless questions.
But you know, I kind of gotstarted and I didn't have any
guidance, so I just did what Idid.
So that's a pretty good, I thinkwe kind of created the profile
while we were here.
75 to 80,000 a year is whatthey're earning.
They get the house.
The house makes six to eight.
Then with that, they can alreadygo to most, they can go to all
of Latin America with that andget a residency, 75 to 80 K in
(50:06):
most markets in the us.
Like that doesn't, that's notNew York City or la you know,
not at all.
But in most markets, that'sprobably the roughly the minimum
you wanna make to be able toturn into a strategy like that.
And also somebody who's nottrying to move abroad next week.
Yeah.
Yeah, months, six to eightmonths, like my clients we're,
our process.
I've had people do start tofinish, do this as fast as four
(50:29):
months.
Yeah.
You know?
And I've had people that's stillpretty fast though.
So yeah, four months is fast.
The average for my clients isaround six, six or seven.
But you can do it as fast asfour if you're ready on day one.
And you don't waste any time.
And you're not super picky whenyou're trying to shop for your
home.
Like you just follow theinstructions and you pick
something you buy and.
(50:49):
I've had people take up to ayear,'cause they were really
picky.
Person.
So if you guys are, if you guysfit into that category, the
profile that you, we just saidgo reach out to Tawny.
Mm-hmm.
Uh, because she can help you interms of finding that first
Airbnb, you're not in a hurry.
You're making 75 to 80 k in mostUS markets, you can get that
first property in six months.
You're basically squared away.
(51:10):
Not bad if you ask me.
Now, for those of you who arelike, I, I already did that.
I'm selling my house in theUnited States.
States, I want property inMexico.
Then reach out to us because wehave all the real estate people
and the lawyers and thenotaries, and we'll make sure
you don't break the law byaccident.
Sure, perfect.
And all that kind of stuff.
And sort out the residency andtaxes and all, everything that
(51:33):
comes with that wild animal ofinternational.
Real estate.
So Tawny, thank you so much forbeing here.
Let the people know where theycan find you.
'cause you're always sharingresources on how to get started
doing this.
Yeah, yeah.
Thanks for having me.
Uh, so yeah, if you're onFacebook, find me on Facebook,
just search my name.
Uh, you'll see me probably,probably at the top of the
search results.
I post a lot.
(51:54):
If you're not on Facebook, mywebsite is tawny powell.com.
I'm also on Instagram,instagram.com/tawny Powell.
Uh, those are the three topplaces that you can find me.
I am on LinkedIn as well.
If you're strictly on LinkedIn,just search my name.
I'm not hard to find.
Great.
Thank you so much for being heretoday and kind of, uh, helping
us better understand the Airbnbworld and how someone can use it
as, um, their means of income sothat they can finally.
(52:17):
Go overseas and then still haveassets in the United States.
Everyone, thank you so much forbeing here today.
If you like this episode, youalready know the drill.
Give it a like, leave us areview on all the podcasting
platforms.
Share it with a friend.
'cause uh, we're doing God'swork here trying to get people
living in other countries andgetting out of some interesting
situations in the us, Canada,and Western Europe right now.
(52:40):
And Australians, you guys arereaching out as well, so make
sure to share this with a friendand we will catch you guys on
the next one.
Thank you.
Have you been wondering whetheror not starting an Airbnb
(00:03):
business might be a viable wayfor you to build remote income
in the United States so that youcan move to other countries?
Where our guest today onEntrepreneur Expat is an expert
in Airbnb and also a digitalnomad who spends six months in
Peru every year and the othersix months.
Traveling around the world.
Her name is Tawny Powell, andshe's answering all of your
(00:26):
Airbnb questions today.
For those of you who've beenasking us about how to buy
Airbnbs in the us, turn thatinto a business and then move
abroad.
We also talked a little bitabout the differences between
buying real estate in the UnitedStates.
Versus buying real estate herein Mexico.
Welcome to Entrepreneur Expat.
I'm Amanda oga, and togetherwith my husband Justin, we help
(00:50):
you move abroad.
Relocate to Mexico is wherewe're spending a lot of our time
right now with our clients.
We also teach you how to makemoney online so you can go
anywhere in the world.
We talk about internationalinvestments, international
business opportunities, and weinterview people like Tawny and
other expats in digital nomads.
About how they're able to travelall around the world and pay for
(01:11):
it.
So if that's something thatyou're interested in, make sure
to subscribe and hit thenotification bell so you don't
miss a single video or podcastinterview that we have coming
out on this channel.
And go ahead and give this videoa like, because it helps us get
it in front of more people.
And if you're listening on thepodcast make sure to leave us a
review on Apple or Spotify.
Or wherever it is that you arelistening.
(01:33):
And there's two kinds of peoplewho are going to be interested
in this interview today.
The first group is those of youwho are interested in buying
real estate in the UnitedStates, uh, and starting an
Airbnb business there andgenerating income from that, and
then using that income toqualify for residencies and
visas in other countries, whichis essentially what Tawny did.
So that's one group.
(01:54):
There's another group of youthat's going to be more
interested.
In buying real estate here inMexico, it's actually one of the
top questions we get asked everyweek.
It's all about real estate, sowe can now help you find real
estate in Mexico.
We can help you find commercialproperties to invest in.
We can help you find.
Vacation rentals.
We can help you find investmentproperties and we can help you
(02:16):
find a home with our team ofreal estate experts.
We've got notaries, we've gotattorneys, we've got tax
experts, we've got real estateagents.
We basically built the wholeteam already to make this as
seamless as possible for you.
We also have bankers financing,uh, fio for the freehold leases.
We figured out all the littledetails.
For you already to help you findthe best property for you.
(02:38):
So if you're interested inMexico specifically, then go to
entrepreneur expat.com/consultand we can get started there.
But there's another group of youwho perhaps wants to get started
in the United States becauseyou're already there doing real
estate investing there, and thenusing that money to move abroad.
If that's you, then you'redefinitely going to want to
(03:01):
listen to what Tawny saysbecause she has a very
methodical process that sheworks her clients through so
they can see a lot of success.
And here's the interestingthing.
It's not as hard as you'reprobably thinking it is.
It's not going to cost you asmuch money as you're probably
thinking it is, and it's not ascomplicated to run Airbnbs
(03:21):
remotely as you probably thinkit is.
So without further ado, let'sget into this interview.
Hey everyone, and welcome toanother expat story here on
Entrepreneur Expat, where weshow you how to make money from
anywhere in the world so you cango wherever you want.
Today I have Tawny Powell withus, and we met on Facebook.
(03:43):
Book because Tawny is an Airbnbcoach, and many of you have been
asking us if Airbnb is a viablesolution so you can have your
digital nomad life.
How does it work?
How do we get started?
So Tawny is here to answer allthose questions.
Tawny is an expert in investorin Airbnbs.
She spends six months right inPeru every year.
(04:04):
And then the rest of the timeyou're just traveling around and
enjoying that passive income.
So thank you so much for beinghere to, uh, talk about this.
'cause it has come up a lot inthe comment section, uh, on this
channel and also in our emailsfrom the podcast.
Cool.
Thank you for having me.
I'm excited.
So before getting into all that,like how they can get started
(04:26):
with Airbnbs, um, who is Tawnyand how did she end up becoming
a digital nomad?
Uh, who am I?
And how did I become a nomad?
I don't know.
Which question is easier?
Um, so I'm from Massachusetts.
Uh, I don't know.
I think sometimes that'simportant because sometimes I
cuss a lot and I try to keep itclean most places I go.
(04:48):
But I can be a little, uh, inthat way a communicate in that
way, a little abrasivesometimes.
And I'm pretty like verybusiness oriented.
I work.
Very fast.
I move very quickly and uh, I'vebeen pretty successful.
Um, I am a invest real estateinvestor, coach and consultant,
and I work with my clients allover the US and I help them
(05:12):
typically either buy their firsthome and live in a portion of it
and rent a portion of it onAirbnb, or I help them buy their
first investment property.
And put it on Airbnb.
So I work with first time homebuyers and first time investors
who are usually like househacking.
Um, yeah, I, um, built my smallportfolio of real estate in
(05:32):
Atlanta kind of on accident.
It wasn't my plan and I gotreally lucky, but a lot of
businesses start by accident.
Entrepreneur, expat was a halfan accident, so Totally,
totally.
I got lucky and just likehappened upon.
A friend who turned mentor andyeah, I'm able to live off of
that passive income now abroad.
(05:53):
And yeah, I live in Peru halfthe year and right now I'm in
CARNA, Columbia and I'll be, Idon't know where next.
What prompted you to to moveabroad?
I.
Yeah, a few years ago I wasactually in one of my Airbnbs,
uh, in Atlanta, and it just,like, something just hit me like
an overwhelming feeling.
Um, like I'm pretty intuitiveand I move with like my
(06:16):
intuition or my spirit, likewhatever guides me that way,
especially when it's reallypowerful and strong.
And so I just got thisoverwhelming feeling like I'm
not supposed to be here anymore,even though I love Atlanta.
I lived there for 16 years afterI finished college.
And it, it was odd.
It was odd for me'cause I waslike, really?
(06:36):
I really love it here.
But, um, I think in one hand,Atlanta as a city, in my
opinion, has gotten a littleoverdeveloped, overgrown.
It's just not as fun as it usedto be.
It's all a lot more expensiveand all that jazz.
Um, and.
I didn't necessarily know thatthe current election was gonna
go the way it went this year.
(06:57):
Um, but I just think more andmore I had become more
dissatisfied with the politicsin general in the us.
Yeah.
Talk about it.
We had comments, uh, just onthat very topic coming in last
week, we did a, a video about 11things we don't worry about
since moving to Mexico.
And one of the things that wesaid was like, we don't deal
with the polarization anymore.
And normally we've noticed thatif you're the type of person who
(07:19):
moves abroad, like you don't.
Fit into like the wholepolarized two party thing.
'cause you're just seeing itfrom a totally different
perspective once you're in othercountries and you're just like,
this is a mess.
Yeah, it's a hot mess.
It's a blazing hot mess rightnow.
Um, yeah, and I never felt likeI fit into either.
And I, for a long time felt likewhatever my values are and my
(07:41):
beliefs, like, they're neverreally represented.
So, um, I started going abroad afew years ago.
I would skip the winter'cause Idon't like the cold weather.
Mm-hmm.
From Massachusetts.
And so I would skip the winterand go to like the islands.
I went to Belize or Puerto Rico,Dominican Republic.
Spent some time in Mexico City.
Um, and after like the thirdtime I was getting ready to go
(08:05):
abroad again for the winter andI just stopped and I was like,
why am I planning to come back?
Like every time I came back Ikind of never really wanted to
come back, so I just decided notto.
Yeah.
Are you finding, um, that peopleare just finding,'cause this is,
I mean we're obviously seeing itin Mexico, we hear in Columbia,
(08:25):
uh, it's kind of similar rightnow.
I know you're there.
Um, are you just also findingthat perhaps something that has
changed is now'cause the worldhas changed so much that now you
can just find a lot of similaropportunities, same standard of
living or close to same standardof living and.
Obviously much higher quality oflife all over the world.
(08:46):
Like you're not stuck to US,Canada, Europe, Australia,
anymore.
Yeah, I think you can definitelyfind a very similar standard of
living in a lot of places, and Idon't even know if the world has
changed so much, like quickly.
I also have it like Americanstend to live in a bubble and we
just don't get out and we havethis idea of, oh yeah, there's
(09:07):
also that how, how life is likein other countries.
And then we go and we're like,oh, wow.
Like we're sold propaganda inthe states that when you kind of
start to travel, you're like,oh.
Like everything's fine here.
There's hospitals and there'splaces like if I get sick I can
get well and you know, there'shealthy food, often healthier
than in the US and so, yeah.
(09:28):
Yeah.
If not better, because it's moreaffordable for us.
Yeah.
It's better'cause it's moreaffordable because you're doing
the ultimate hack, which is,hey, I'm earning in dollars, but
I am living, uh, in pesos, forexample, or Thai B or whatever
it is that people go do.
That's like the ultimate hack.
I was telling my husband justthis morning, I was like, I
(09:48):
almost feel like I'm cheating.
I'm obviously not right, but,and none of us are.
We've worked our asses off forthis and made.
Difficult decisions and changed,but it's almost like you feel
like you're cheating in a way.
'cause it's like, wait a minute,I understand business.
I know how to earn in dollars.
Uh, entrepreneur expats, to thepoint where we get applications
for relocation consults everyday.
Automatically just off ofYouTube.
(10:10):
Um, you know, so we understandthat whole game.
And then we moved to anothercountry.
So now we're doing the geo, thecurrency arbitrage, and then we
also reduced our tax bill fromthe us.
Like we, we feel like we'recheating.
Mm.
It can feel that way.
Yeah, you can.
We can.
(10:31):
Like we're not, we worked ourasses off for this.
Um, but it's almost like a,whoa, like once you see that all
start coming, uh, together andpeople don't realize these are
like wealth hacks.
These are some serious wealthbuilding hacks, um, that if you
just change your, you know, you,you start learning how to make
money on your own.
(10:51):
So you're already getting taxadvantages there.
You're in real estate, you geteven more tax.
Advantages, uh, being in realestate.
Um, and then you start takingadvantage of geo arbitrage.
I mean, you can pay off debt,you can invest, you can get
savings.
You can, uh, open your world tomassive opportunities in other
countries, not just the countrywhere you're from.
(11:12):
I mean, it really just expandsyou in a way that's just not
possible if you just stay whereyou are.
It absolutely does in a lot ofways.
Yeah.
I feel like we're very luckyalso to have been.
Born in the US and have thatopportunity be so easy for us to
do.
Yeah.
Yeah.
Where you, where you learn that.
It's like we tell people, likeyou take what's good of each
(11:34):
country, right.
And then you just make it workfor you.
Like take what's good about theus.
A lot of us learned how to makemoney and earn in dollars.
Uh, but learn how to do thatonline and go take it somewhere
else.
Yeah.
Yeah, it works.
I like it.
It works.
So how, okay, so how did you endup picking Peru?
I'm interested in this'causeit's come up a few times in the
(11:54):
expat spaces, uh, and also in inWhatsApp conversations that
we've had.
It seems like there's morepeople interested in Peru now,
um, for residency.
So how did you end up coming upon the decision of Peru?
Yeah, um.
It was sort of like an, I didn'tknow where I wanted to live.
Like I, when I left the US Ikind of came to CARNA for three
(12:18):
months because I love it here,but I wasn't sure if this is
where I wanted to like rootdown.
And then I kind of bouncedaround Mexico a bit and Mexico
City and Marta and Oaxaca andwhatever, and, and then I
decided to come, I planned atrip to Lima because I really
wanted to get like some, Iwanted to get some cooler
weather.
Like, I love the heat, but alsoI love like a good fall feeling
(12:41):
where I like to wear a scarfsometimes.
Well, you're from New England,so I missed that.
I was in this hot weather forlike almost a year.
Um, and then I was planning togo from Lima to Bueno Saturdays.
And when I got to Lima and Ichose these cities, I should
say, because I, after liketraveling abroad for the
winters, I realized there waslike things I was looking for in
where I wanted to live.
(13:02):
I wanted to live in a massivecity.
Because I'm very fitnessoriented.
Like I like a, I like a reallygreat gym.
I like to dance.
I like rock climbing gyms like Ilike to do cool stuff that you
typically only find in reallybig cities.
So I picked Lima because it wasa huge city, and I like a city
on the water because I'm kind ofspoiled now.
And.
(13:22):
I live my life with an ocean,ocean view.
Like I don't, that's anon-negotiable for me now in my
residence.
So I needed a big city on thewater.
I wanted somewhere.
That was cool.
I decided to go to Lima.
I had a whole trip planned toBueno Cyrus after that.
And when I got to Lima afterfive days, I was like, I'm not,
I canceled the Bueno Cyrus trip.
And I found out after cancelingthat too, like a couple weeks
(13:42):
later, I started to ask more andmore about, you know, residency
because they give you anautomatic 90 days when you get
there, but that's it.
You know, you're supposed toleave and come back or whatever.
Um.
I then found out that theresidency process is really
fairly simple, very easy,comparatively, and very
affordable.
Um, and there's a short path todual citizenship in Peru, like
(14:06):
two years.
Oh, yes.
Once you have residency, you canapply for dual citizenship
within two years.
Like that's really short.
Yeah.
And I had that in the back of mymind that I would like to have
another citizenship somewhereelse, uh, as a, you know.
Something back on.
Mm-hmm.
Yeah.
Mm-hmm.
Yeah, we're working on Mexiconow.
Um, yeah.
But, uh, we tell people a lot oftimes on this channel, we're
(14:28):
like, look, a lot of people getstarted in Latin America, number
one, because it's moreaffordable, number two.
Usually more straightforward forresidency.
And number three, you canactually become a naturalized
citizen that is not typical, uh,all over the world.
It's, it's kind of unique to theAmericas.
So if you're looking for likeyour first plan B passport and
you don't qualify via ancestryor anything like that, a lot of
(14:52):
people get started in LatinAmerica.
Yeah.
Yeah.
And I, there's like consultantsdown there that do it.
I worked with a team and theymade it really easy for me.
So it's kind of a no brainer.
Yeah.
And once I got my residency, Inow have health insurance.
I have Peruvian health insurancefor$4 a month.
Like Wow.
Yeah.
Mexico's more expensive on thehealth insurance front from
(15:13):
Latin America.
Peru is cheap also.
I'll say that'cause I've spent alot of time in Mexico City.
My best friend lives there.
I, I enjoy Mexico.
It's gotten really expensive ina lot of places compared to
other parts of Latin America.
So.
Your dollar goes really far inLima.
I enjoy that.
Yeah.
Mexico is really, it's, it'sturning into a bit of an
economic powerhouse andeverybody and their mom
(15:34):
literally from all over theworld is trying to move here
right now.
Yeah.
So obviously that, that causesan increase in prices and
there's all their other factorsto it as well.
But Mexico's kind of doing oneof these right now, uh, and then
the prices are going up with it.
Very, very much.
You also just need to know howto hack it and who to talk to.
(15:55):
Like on our team, for example,of real estate people,'cause we
help people relocate.
We're like, listen, you gottamake sure that people don't get
gringo priced because, or gringotaxed.
Because part of the problem islike the gringos come, they
think it's cheap, but they'reactually getting kind of taken
advantage of and then thatincreases the prices for
everyone.
That's a, that's a part ofwhat's going on too, but, uh,
(16:16):
yeah.
Okay.
So what is the process forresidency in Peru?
Like, and, and what is it thatthey ask for?
I could tell you very littleabout that.
I hired consultants and I justdid what they told me.
Like, well, that's the best wayto do it, girl.
Yeah.
Like, I don't wanna do it onyour own.
That was like six that startedback, back in October, I think
is when I started.
So, I mean, we opened up a bankaccount on my first day.
(16:40):
Like Scotiabank will allow youto open up a bank account there
without residency yet.
And then we had to go to anotherbank and do some other stuff.
I had to get a background checkfrom the states submitted.
So how about, talk about why youchose to just hire it out?
Because a lot of people willstick it through and try and do
it on their own.
Don't know a whole bunch ofcountries.
I don't have the time, energy,or interest to do that.
(17:00):
Hell no.
Like I'm not into bureaucraticstuff.
I kind of hate paperwork, hateall that stuff.
No, I'm happy to pay somebodyelse to handle it for me.
If they're available.
Yeah.
No, I do.
Perfect.
Okay.
It took like three months, I cantell you that took like three
months.
Three months for the wholeprocess.
Yeah.
That's not too bad, includingopening the bank account and all
that stuff.
That's not, that's not too badat all.
(17:22):
Um, did you have to like go backto the states and do part of it
over there, or is everythingjust done in Peru?
Everything was unimproved.
Oh, it's so fascinating howdifferent countries do it.
Yeah.
They all have their own nuancesof how they handle these things.
Okay, so let's get back into theAirbnb and how you actually make
money, because half of theaudience, um, they're very
interested in Airbnb as a meansof, you know, generating some
(17:47):
sort of income.
So then they are able to move,um, abroad.
So if someone's in that spaceright now where they're like,
Hey, I think.
This is how I'm gonna do it.
Right.
Where would one get started?
I know you have courses andprograms and all that kind of
stuff, so we'll leave it, um,down below.
'cause I know you can't answerin like a 30 minute interview,
(18:09):
but Right.
To the best of your ability.
Right.
If someone's in that space rightnow.
I guess a better question iswho's a good fit for it?
Maybe that's a better question.
Um, because yeah.
It's kind of like everybusiness, like not everybody can
do every business.
Not everybody has the profilefor it.
So who's actually a good fit forbeing like, Hey, air, Airbnb
(18:30):
would actually work for you,like this profile of a person.
Um, I would say there's a,there's a number of people that
it would work for to be quitefrank.
Like it can work for a young oreven a mid-career professional.
It can work with who's single ora couple who wants to do it
together.
Probably be a little easier ifyou have a partner to do it
with, but not impossible to doit alone.
(18:51):
Um, I also have some clients whoare older and wanna eventually
retire out of the us but they'relike ready to go remote now,
like 10 or 12 years early.
Um.
It makes a difference, you know,to have a good, stable job.
I mean, some solid income alwaysmakes a difference to be able to
have the funds to acquire theproperty.
(19:13):
Not only that, but like to setup the property to furnish it
and then like if you're, if orwhen you're abroad, if there's
things that are happening, youknow, you're hiring a property
manager to manage a lot ofstuff, so you wanna be able to
absorb some of the costs thatmay come up on owning a property
while you're abroad.
So.
Somebody who has a decent amountof disposable income, I think
(19:34):
would make a big difference forthem.
Um, yeah, and if you're lookingto build wealth, like you buy a
house that's going to appreciatein the future, then that's
always a benefit too.
But I think there's a prettybroad spectrum of people that I
can fit for as long as you canwork remotely.
Yeah.
And I think with Airbnb or realestate in general, a lot of
people perhaps, uh, an objectionthey would have maybe along the
(19:59):
lines of like, oh, okay.
But because you hear peoplesaying this, like it's not
really passive, like you have tobe there all the time, or if
something breaks, it's on youor, um, you know, you're the
owner.
So like every, everything thathappens with the house, like you
have to handle it.
So some people will make theargument that it's not that
passive.
Or they might not see a pathwayin terms of like, well, how
(20:21):
would I be able to do thisremote if I have physical
properties that I have to dealwith?
Like, wouldn't I have tophysically be there?
Mm-hmm.
Yeah.
Yeah, I think that's a bit of amisnomer.
Like there are people who ownvacation properties in other
states and that have been doingthat for decades.
Like that structure is not new.
(20:43):
What's new is.
People going abroad now.
Um, but with a great propertymanager or I have a lot of
clients who have family whomaybe have like kids and they
don't really wanna leave the USat least not yet, or family who
for whatever reason, they'retaking care of an elder or
somebody, they have local peoplewho can help them manage.
(21:04):
It's not a problem at all.
And, and you can set it up towhere you like, rarely ever hear
a word about it and you justcollect money in your bank
account.
It's really in how you set itup.
You go through all of that inyour courses.
So let's get into how else youmake money, which is the fact
that you now teach people, um,how to do this for themselves,
which is, you know, takingadvantage of the knowledge
(21:25):
economy.
Mm-hmm.
Which is what we tell a lot ofpeople.
Like if you're an expert insomething, you can turn that
into a business course.
So how did you come across, howdid you come to.
To doing that, right?
Yeah.
Or was it just kind of like anatural progression, like I'm
already doing it, I'm gettingall these questions about it.
Let me just start answering thequestions and get paid for.
Yeah.
Yeah, so it was sort ofserendipitous.
(21:47):
Like once I, when I, like Ibegan my career.
After I finished grad school, Ibegan my career in the nonprofit
space, uh, working at communitydevelopment organization,
teaching their home buyer intheir home buyer program.
It was not at all what I plannedto do with my career, but I
ended up really loving it.
And so I worked with first timehome buyers for, I have now for
13 years.
And so for the first eight I wasworking in two different
(22:08):
nonprofits.
Uh, and so through that processI bought my own house and
started Airbnb, my guest rooms,um, because I liked the
flexibility of it.
I didn't want a long-termroommate.
Like I wanted to be able to makethe money that I wanted and then
close the calendar when I wantedmy space to myself for a week or
whatever.
Um, and so, and then once Imoved on to property number two
and property number three, atnumber three, I kind of felt
(22:30):
like, okay, I can now start likereally helping people do this.
Now that I've done it and I've.
Been through a lot of thehiccups and the roadblocks and
all that crap, like I wentthrough all the obstacles that I
can help my clients not have togo through.
Um, so I had a history ofteaching and counseling and
coaching already in thenonprofit space, and so it was
just sort of a naturalprogression when I decided to
(22:52):
quit my job and becomeself-employed full-time, I had
Airbnb income already coming in,so I didn't have to worry if my.
Coaching online business didn'tmake money for the first like
six months or whatever.
I was gonna be fine.
So it gave me the freedom to dothat.
And I love to teach, I love tocoach, I love to work with
people anyway, so it just kindof made sense.
(23:13):
How long have you been doing thecoaching part?
I've had a coaching business forof, of some kind since 20 15, 10
years.
Um, it looked different.
Then I was like, because I wasstill working in the nonprofit
space, I had friends who didn'twanna become a homeowner but
wanted help with their budget orhow to plan for their taxes or
stuff like that.
So I created a small little sidecoaching business to help my
(23:35):
friends and people who wouldn'tcome to the company I worked for
anyway.
Um, and I wasn't reallycompeting.
Uh, and then a highly trainedcoach in other areas like
communication and just likegeneral life activation,
empowerment coaching.
So I did a lot of that coachingearly on until I quit my job and
I created this.
(23:55):
I'm wondering if you've seenlike an increase in interest of,
'cause you mentioned that, forexample, the thing that's
different now is that people aregoing abroad.
So I'm wondering if you've, um,it sounds like you've seen like
an increase in interest ofpeople being like, here are the
Airbnbs, but I'm dipping out ofthe United States, and then the
Airbnbs are just gonna, itsounds like you've seen an
(24:16):
increase, um, yeah.
Over the years.
What do you attribute it to,just based on the conversations
that you're hearing from peopleas to why they're considering
that?
Yeah.
Well, yeah.
I mean, I'm sure you hear it alljust like we do, but yeah.
Yeah.
Yeah.
I mean, there was a spike, youknow, this year in January after
the election results, of course,like a huge spike and, uh, there
(24:39):
was all, it was already startingbefore that, um, I think would
attribute it to, I think, Ithink the pandemic.
Gave people the awkward, a lotof people, the taste of working
at from home or workingremotely.
I think that's one part of it.
When people realize, oh, I don'tnecessarily have to be at the
office.
I don't have to be in Cincinnatior whatever city they live in.
(25:01):
And then it was like, I don'teven have to be in Ohio.
I don't have to be in theStates.
I think it kind of just likethat, that had that progression
happen.
And I think also.
The cost of living has gone upin the US like steadily and
quite a bit in the last fewyears.
I mean, I have friends, like mybest friend moved to Mexico City
like six, seven, almost sevenyears ago now.
(25:23):
She was early, an early adopter,and I don't think at that time
there wasn't as many peoplegoing, but in the last like
three.
Or so, yeah, Mexico stayed openduring the pandemic.
So it saw, it was one of theonly countries that was open, so
it and was more lax.
Uh,'cause the president at thetime was like, I'm not ruining
our economy over this.
Wear a mask basically and washyour hands.
(25:46):
Um, so they were closed, butthey were a lot more lax.
Uh, and people could go in andout.
A lot of people got stuck, uh,in Mexico because they couldn't
go back to their home countries.
'cause the pandemic caught themhere.
Then Mexico had to regularizeall those people.
Like there's a lot of factors asto why everybody's ended up in
Mexico.
Mm-hmm.
Um, but we can see it just fromour stats, uh, on the website.
(26:09):
There's people from all over theworld trying to move here right
now because they think there'sactually a lot of economic
opportunity in Mexico.
A lot of people think Mexico'son the verge of its golden age.
I believe that's probably true.
Yeah.
Yeah.
I mean, we literally, uh,Americans are the top one,
obviously then Canadians.
But if we look at our stats,we're getting Australians,
(26:29):
people from Asia, people fromEurope, other Latin American
countries, a lot of people gottheir eye on Mexico.
So there's a lot of factorsgoing on.
That's, uh, that's whereeverybody's ended up in Mexico.
Yeah, yeah, yeah.
But yeah, people have been goingabroad, I think more in the last
few years because of thosereasons.
Yeah.
And then, um, Mexico also, um,has a relatively straightforward
(26:52):
residency process.
Um, and then you don't have tolive in Mexico to have the
residency.
So a lot of people would justhave it in their back pocket, go
in and out.
All that kind of stuff.
And then it has a generous, uh,tourist visa, although they are
cracking down, uh, because it'sgotten so overwhelming that they
are cracking down and tighteningup their systems.
Um, because I mean, we were justtalking to the immigration
(27:14):
attorney that we work with theother day and she's licensed in
Mexico and the US so she helpsour clients on both ends.
And uh, she was like, theconsulates in the United States
for Mexico are absolutelyoverwhelmed.
With Visa appointments, likeit's getting harder and harder
to get appointments.
You have to like know peoplework with an attorney who can
get you in.
I mean, it's, it's gettingpretty balls to the wall.
(27:36):
I believe it.
Yeah.
Um, but, but to your point, youknow, there's other countries
that are seeing surges.
I mean, Costa Rica saw surge,Panama saw surge.
Um, Columbia saw a search.
My husband lived in Columbia forthree years in Meine, and he was
like, I got there before all theAmericans got to Meine and now
Meine ISS full of Americans.
Oh.
Full, completely full ofAmericans.
(27:57):
Yeah.
Um, you know, I, I know a lot ofpeople got their eye on
Argentina.
Um, trying to see like whathappens over there?
Are there investmentopportunities?
Is it a decent second passport?
So Latin America's, a lot ofpeople are very interested, um,
in Latin America.
And then of course we hearabout, you know, Southeast Asia
all time as well.
Those are the two that come upthe, the most.
(28:18):
It's, it's really interesting.
My mom says it's a globalmusical chairs.
Could be.
Oh, may maybe could be.
I like that.
I like that.
Yeah.
There's just people movingaround all over the place and to
places that they never would'veconsidered.
And, and you also take intoaccount that now there's more
and more, uh, like marriages andrelationships happening.
(28:39):
Uh, more multicultural.
So I mean, we interview peopleall the time who ended up in
other countries'cause of theirspouses.
Yep.
I ended up in another country'cause of my spouse.
Yeah.
I think it's a great thing.
Yeah.
So there's a lot of reallyinteresting stuff, um, going on.
Okay.
So back to the Airbnb for thepeople who are like, this is my
thing, where do you suggest theyget started?
(29:00):
Um, in terms of research?
Obviously you Right, but where,where would you recommend that
they get started in terms ofreally trying to understand, you
know, how this world works sothat you, like you said, they
avoid a lot of the pitfalls thatyou experienced.
Hmm.
I mean, there's a ton of likeFacebook groups that get,
(29:20):
there's like people who aregurus that share information.
There's a ton of people who justhave like mini, mini courses
that they share.
Um, I largely do one-on-oneconsulting, and then I have a
DIY course that I've justlaunched this week that's like
super affordable for folks.
Um, and that teaches everybodyfrom start to finish there.
But I think truly, you know.
(29:43):
I think it's a cool thing toliterally go on Airbnb as if you
are looking to travel to acertain place.
Like if you're thinking of, forexample, putting up an Airbnb in
Florida, whatever part, right?
Like go on Airbnb, like you'regonna travel to that city and
just see what the options arelike, like if you're gonna, if
you're thinking you wanna putone up in Miami, go look at your
(30:04):
competition.
See what their nightly ratesare, see what the properties
look like, and then you can takethat and go to realtor.com and
see like, how much is this gonnacost me?
Can I afford a property likethis?
What can I afford?
And then go back to Airbnb andbe like, how much money is that
actually gonna make me?
And you can open their calendarsand see how booked up a listing
(30:26):
is or isn't.
And that doesn't necessarilymean that the best listings are
always booked up.
There's some great listings thatmaybe just don't have the best
marketing, don't have the bestmanagement.
You can make a lot of thingswork.
But I think that's the best wayto actually get started is go to
the source and see whatproperties are earning nightly,
look at how much their calendaris booked, and do the math like.
(30:47):
10.
I became an Airbnb host in 2015,like.
Eight years ago, like two yearsafter I became a host, I started
doing this myself.
This is before Price Labsexisted and all of that stuff.
And you know, I kind of just hadto do my own data digging from
scratch, from airbnb.com when Iwas looking to buy my next
(31:08):
investment property and figureout where I was gonna buy it and
what made sense.
Like I just pulled a bunch oflistings and did the math.
I think you can get a lot ofvalue out of that alone instead
of just like taking people'sopinions about stuff.
Go look at the numbers.
I've seen you posting onFacebook recently because I'm
thinking about the cost ofliving and how cost of living
has gone up in the UnitedStates.
And I'm thinking there'sprobably people watching or
(31:29):
listening to this right now thatare like, Hey, that's great, but
like housing prices are throughthe roof, uh, in the United
States.
I'm looking at other countriesnow.
We'll get to the other countriesin a second.
Right.
But you have been, uh, postingsomething interesting on
Facebook that I've seen thisweek about people thinking that
they need the 20% down, but theydon't actually down payment for
the United States, but.
(31:50):
They may not actually need the20% down, so no real talk.
90% of my clients, you're gonna,you're not gonna believe me when
I tell you.
90% of my clients spend lessthan$5,000 outta pocket to buy
their property.
Granted, they live in it andtheir intention is to live in
it.
At least when they buy it, theirintention is to live in it and
(32:12):
they live in part of it and theyAirbnb part of it.
That's how 90% of my clients getstarted, and I recommend that
more than anything in the worldbecause you end up buying a
home, you now have an asset,someone else is paying your
mortgage.
You get to learn how to become ahost.
On site, like you said, a lot ofpeople think, I can't just buy a
property and leave while youcan.
You'd probably be a lot morecomfortable and have a lot more
(32:34):
confidence in that if you didn'tand you lived there part-time or
for time, and manage it yourselfso you know what the process is
like.
That way when you go to moveabroad, you're not having a
property manager or cleaners orwhomever like try to tell you
that they wanna charge youthrough the roof for whatever
service they provide, becauseyou know what it took.
(32:54):
Right.
Like you're like, it doesn'ttake me three hours to clean,
and then it takes you an hourand a half, like, you know?
Right.
Same thing as running abusiness.
Like you know what the KPIs andtheir metrics are based on what
you did first.
Mm-hmm.
Yeah.
Same thing.
So you don't need 20%.
Now, if your intention flat outis just to buy a home and never
touch, set foot in it, neverlive in it.
(33:15):
Nothing.
Yeah.
There's not really, and youdon't plan to ever be there at
all.
Yeah.
20% is.
Standard.
There's no other way aroundthat.
Um, and if you're willing to, oryou are interested in living in
it for a time or even living,splitting your time, 50 50,
there are ways to do it.
A lot more affordably than that,and most of my clients do.
(33:35):
Okay.
So we'll leave the informationbelow for those who are
interested in doing that first.
The other question that we get.
Is, uh, Airbnb in othercountries.
Mm-hmm.
So, for example, right?
Yeah.
Yeah.
Um, I don't think people realizehow different it can be from
country to country.
Mm-hmm.
Uh, depending on what's goingon.
But for example, we will getcomments and they'll say, okay,
(33:56):
well my plan.
You know,'cause we getapplications for relocation
every day.
So people are telling us some oftheir plans and sometimes
they're like, well my plan isto, uh, buy real estate, for
example, in Mexico, which iswhere we can help people find
real estate, um, and investmentopportunities.
And my plan is to, for example,Airbnb it, right?
So for those who are like, Hey,my plan is like.
(34:18):
If I don't wanna buy an asset inthe United States, uh, maybe I
wanna go buy an asset in Mexicobecause I can get higher returns
on a vacation rental or anythinglike that, you know?
What advice would you have forthose people?
Because, you know, the UnitedStates is very regulated and
lots of other countries are notas regulated, and the US has
certain rules and othercountries have other rules.
(34:40):
So what would be your advicefor, for those?
And not just Mexico, but youknow, we hear Dominican
Republic, Costa Rica, we hear itall.
I hear, I hear it sometimes too.
I have people contact me a lotsaying that's what they wanna
do.
And while I could and I would bewilling to help somebody
navigate that, I haven't done itmyself, you know, and there's a
lot to consider.
(35:02):
Um, you know, I don't know that,like, like you said, the
regulations is one aspect.
I also don't know that aircover, Airbnb, air cover
insurance is the same country tocountry.
You know, if you have Airbnbguests in your house in the
States, and they.
Light, a fire on accident inyour kitchen and they burn your
kitchen down.
Like Airbnb is going toreimburse you for that at some
(35:23):
point.
May take them a long time, butyou're going to get reimbursed.
I don't know that that holdstrue everywhere else, you know,
I just don't, I personally don'tknow.
Um, also, every city has theirown regulatory oversight, uh,
and then countries in generallike.
You know, like if we go to astore, whether you're in Mexico
(35:44):
or you're in Peru, or you're inColumbia, and we slip and fall
and we break a leg.
We're not suing anybody.
No, not in Latin America.
That's not happen happening.
They're really the idiot whofell.
Exactly.
But in the states there's a wayto get like compensated for
that.
So I think people forget, like alot of Americans, they bring
their American mindset and theyto this, to this possible
(36:06):
investment.
And there's a lot that they needto consider that like stuff like
that.
If something happens, like.
You may not be made whole.
Like it's there.
It's riskier.
It is by for sure.
So let's talk about that.
For those of you who are lookingfor real estate in Mexico, we've
got real estate people,attorneys, notaries, like it's a
little bit, people are used todoing vacation rentals and
investment properties in Mexico.
(36:27):
So it's perhaps a little bitmore, um, thought out.
I guess is the word I'm lookingde uh, developed.
Um, yeah.
And in like Costa Rica and stufflike that as well.
Probably.
I don't know about DominicanRepublic.
I know a lot of people arestarting to go over there.
But, um, talk about the Americanmindset because that is actually
something that we talk about alot.
With our clients.
Mm-hmm.
When it comes to likeimmigration process and buying
(36:49):
real estate in other s forexample, we have a lot of
questions coming in about, uh,and we'll have our real estate
people, uh, hear from Mexicodoing videos to answer a lot of
these questions.
But we had one come in recently.
That was like, uh, hey, so canI, is it worth it to buy
foreclosed properties in Mexico?
Like, is it, uh, like, is itworth it?
(37:11):
What is the state of the, the,the property?
And I'm like the foreclosureprocess here, like when
something's in here is not thesame as the United States.
'cause like over there, um, andthis is what our real estate
people have told us.
They're like, you could, butit's gonna cost you an arm and a
leg in lawyers.
And like the process isdifferent.
Um.
Because like over there in theUnited States, for example, like
(37:32):
the bank just kicks you out.
They have an asset they'retrying to get rid of and then
you can get it for cheap.
Right.
Here's not quite that simple.
Yeah.
When you have a property that's,uh, in cio, um, as they call it,
so sometimes we have seen thattoo.
Or the other thing that we haveseen is um, because they're not
exactly sure what the rules andthe systems are of the country,
(37:55):
then they accidentally end upbreaking the law.
We've seen that happen, um,sure.
As well.
Mm-hmm.
Which I guess is another part ofthe mindset of like, oh, okay,
I'm just gonna trust anybody inwhat they tell me in this
country where I don't know wherethe systems work.
Um, so what do you have to sayabout like, those things?
Like what should people keep inmind now that you have the.
(38:17):
Experience of having Airbnbs andobviously having lived in the
United States, and then alsospending a lot of time perhaps
not investing in othercountries, but living in other
countries and Yeah.
You learn how stuff works.
Yeah.
Like, you know, you could buy aproperty.
I help my clients buy propertiesin the US and from the day that
they get their mortgagepre-approval till they close,
(38:40):
typically 45 to 60 days.
Woo.
You know?
Right, exactly.
Not always like that in LatinAmerica.
Exactly.
Coming to anywhere in LatinAmerica, like do not expect the
same amount of efficiencytimeliness.
Clarity through the process.
Like I, I haven't bought aproperty abroad and I've heard
stories, like it just takes alot longer.
(39:02):
It depends, like in Mexico it'lldepend like who's the real
estate person, who's the lawyer,who's the, so when we built our
team, um, like for example,there's this other thing in
Mexico, a lot of people don'tknow this either about buying
property.
In other countries we are, likein Southeast Asia, you
technically.
Can't own property, quoteunquote.
It's like freehold leases, uh,because the property is reserved
(39:24):
for the citizens.
Now, I think if you're in abuilding, it's a little bit
different in Thailand.
Like you can own a condo, butlike foreigners cannot own more
than 49% of the condos.
The building.
But if you have a house, thenthe foreigner gets 49%, the Thai
person gets 51 or you do afreehold lease.
Mexico has that too.
Um, and so do other countrieswhere there's certain areas
(39:45):
where you can buy as a foreignerand other areas where you have
to do freehold leases.
So for example, here in Mexico,we have a company that we work
with that specializes in thefreehold leases.
Um.
For the foreigners that we haveto vet, and if they do it, the
process can take one or twoweeks to get the permit
approval.
If somebody goes to do it ontheir own, forget it.
(40:06):
It's gonna take months to go doit.
It is just not the same.
It's just not the same at all.
And then people get veryfrustrated with the process
'cause they bring that sort oflike, oh, it's the United
States, all this stuff.
Uh, like it's so efficient inthe United States.
(40:26):
And we're like, yeah, thesethings are not as efficient in
other countries.
It just takes longer.
Or the legal process isdifferent.
Or there's places where you canbuy and places where you cannot
buy.
Um, as a foreigner.
So other than like it not beingthe same process, what would you
think are things like threethings that people like
absolutely need to consider ifthey're considering perhaps, you
(40:50):
know, doing Airbnb or buyingproperties in another country
that's not the United States?
Yeah.
Um, do you have a generousamount of your own personal
capital, whether it's likeinvested somewhere but
semi-liquid?
Or assets, like can you absorb amajor loss if you were to have
(41:12):
one for one?
Because there's just not thesame kind of consistency or
protection in other countries asthere typically is, and we're
used to in the states.
Um, I think number two.
If you're not, some people arebuying properties and
developments where they alreadyhave, like, you know, if you buy
a condo in a condo building andit's used to Airbnbs, there's
already cleaners on site,there's a whole management team,
(41:33):
like, cool.
But if you're not doing that, ifyou're looking to buy like a
freehold, like a, not afreehold, like a standalone
property, a single familysomewhere, wherever I.
You know, do you have therelationships locally?
Like one of the reasons that Ireally encourage my clients,
even though ones wanna buy amove abroad to buy in the
states, and they always ask me,where should I buy?
I say, wherever you are, becauseyou have relationships there.
(41:55):
You have people you can trust.
Even if you don't know someonedirectly who can property
manage.
You probably know someone inyour circle who can refer you to
someone like you've got a coupledegrees of separation.
Very few.
To trustworthy people that canhelp you manage your property,
keep an eye out, clean it, anddo whatever you need.
Um, what would be the third ifsomeone wants to move abroad?
(42:16):
Um.
I, I would say, and I'm not anexpert in this in any capacity,
but like research the taxes andfees.
Fees and the closing costs andall of that.
Because it varies widely countryto country.
Yes.
And if you were to sell it.
Yes.
Math.
I'm glad you brought this up.
What's gonna take, I'm so gladyou brought this up.
'cause here's the thing, a lotof people don't know, and again,
(42:37):
we specialize more in Mexico'cause that's where we're
spending most of our time andpeople are asking us about.
But for example, in Mexico,let's say you buy a property and
then you are a foreigner.
We recently did a video onwhether or not the Mexican
passport is worth it, and weforgot to mention this part in
terms of getting Mexicancitizenship.
So if you were to buy a propertyas a foreigner in Mexico and
(42:57):
then you go sell it and you'restill a foreigner, oh, you're
gonna get taxed.
Big time.
Mm-hmm.
Big time.
Now, if you're a citizen, um, ofMexico, then you don't pay as
much, um, in the tax.
And then again, when we builtour team, like we've got tax
attorneys, the lawyers, theaccountants in both countries
and all that kind of stuff.
Because to your point, it canget very messy when you're
(43:18):
dealing with taxes in multiplecountries and then a country
that you're not, um, that you'rea foreigner in and you don't
understand how the system worksand all that stuff.
You just, yesterday actually.
Uh, we were talking to one ofthe CFOs who helps our clients,
uh, with their Amer with theirbusinesses based in the United
States, but they're livingabroad.
And he told us a story.
(43:39):
He's Mexican, and he's like,yeah, I had American clients.
They had American businesses.
They came to Mexico City.
They started doing Airbnbs inMexico City.
Um, and they did the, theregistration of the company in
Mexico correctly.
But they screwed up on the tax,uh, application, and they ended
up having to shut everythingdown.
(44:00):
Because they've tried to do iton their own.
Yeah.
Without necessarily likeunderstanding the system and how
it works.
Yeah.
Not a good idea.
Yeah, not a good idea, um, atall.
So I'm glad you brought up taxesbecause that can get very, um,
hairy and a lot of people don'trealize that a part of this
moving a broad journey is youhave to tax plan and you have to
(44:21):
do tax strategy.
A lot of people just like leaveand move and didn't think about
the taxes.
Yeah.
Okay, thank you.
Yeah, they're like, oops, uncleSam is still charging me
California state taxes.
And we're like, yeah,'causeyou're domiciled in California.
You gotta go domicile in Floridaor something.
Right.
(44:42):
So a lot of people don't, or youknow, like to your point, when
you start buying properties andthings in other countries, like
what's the tax like, uh, whenyou buy, when you sell, what are
the closing costs?
And again, for those of youinterested in Mexico, our team
handles all that stuff and runsall the numbers, so you don't
have to like, freak out aboutall of that.
Um, but if you're trying to doit on your own, to your point,
(45:03):
like it gets crazy, it getsreally, really crazy and very
confusing and very complicated,very fast.
Like I said, we've, we've hadsome, uh, we've had stories come
in where people got defraudedhalf a million dollars.
'cause like the land didn'ttechnically exist.
We've had that happen.
(45:24):
We've had people who pay for aproperty completely in cash, um,
and didn't realize that there'slegal limits to how much you can
pay in cash in Mexico.
So they.
Broke the law and so did thenotary that they were using.
Or they get told, for example,like, oh, there's no such thing
as an intermediary here.
(45:45):
And we're like, that's bullshit.
There's intermediaries, uh, tobuy properties, uh, in Mexico.
So I guess all of this to say,and I guess you would agree,
don't try and do it by.
No, it's not worth the, it's notworth the headache or the loss
of money to try and do it byyourself.
(46:05):
Not at all.
Business and life lesson.
For sure.
Okay.
Where, um, can people learn moreabout you?
Because I see you posting onFacebook all the time about
stuff about Airbnbs and thingslike that.
So where can people go to getstarted in learning more about
you and what you offer and theresources that you have for
(46:27):
those who are like, Hey, okay.
I think I'm cool with startingin the United States.
This is more of a long term planfor me.
Uh, and then actually, I justthought of another question for
those in terms of like timeline,in terms of like.
How long before they buy in theUS before you think they can go
abroad and do it with the leastamount of hiccups possible?
With the Airbnb?
(46:49):
Yeah.
I'm sure it depends, but if youhad to like measure it somehow.
I would say, you know, ifsomebody were to close on their
property today, right, it'sgonna take them at least a
month, if not six weeks, to getthe property furnished and
painted and all the things readyfor them to take their first
guest and for them to be, feelready to take their first guest.
(47:11):
And then I would say do that fora good six months.
Like, don't shortchangeyourself.
You could do it for shorter.
I would recommend doing it forsix months.
Okay.
Then after six months, do youthink they would be ready to
start making the plan abroad?
Yeah.
I mean, at six months they coulddip out.
Like you could, oh, okay.
(47:32):
At month, like three or four,you could start like having
people help you.
You could start turning over,you know, some of your
responsibilities to peoplelocally while you are still
there, over overseeing thingsand stuff like that.
Like you have some portion whereyou're doing it all yourself and
then you start to scale it.
Oh.
Scaffold yourself out, butyou're still, I guess, for, for
those who are, the more theanalytical numbers, people who
(47:54):
follow us, they're probablywondering this question, which
is like, okay, well how much,uh, how many properties am I
going to need?
I'm, I'm sure it depends whereI.
How much cash flow you'regetting and all that kind of
stuff.
There's calculations to thisthat Tawny can help you with.
Right.
But if you had to like ballparkit, I know somebody's wondering
this question, which is, youknow, how many, what's my goal
(48:18):
of the properties to be able toearn enough money where I can.
Book it and go overseas, likefor example, right in Mexico,
they're asking for about$4,100 amonth to prove in monthly
income, uh, for the temporaryresidency.
So if someone's first goal is$4,100 a month, so I can go to
Mexico, you know, what shouldthey be looking at in terms of
(48:39):
how many properties, um, they'regonna need or how they set that
up.
Uh, and$4,100 a month is not alot in my world.
My clients typically make six toeight KA month on their first
property, so there you go.
So you need one?
Yeah, I was thinking muchhigher.
Like if somebody wants 10 KAmonth or more.
Really depends on how much moneydo you have to spend on a house.
Like you can make six to eight Koff of a house and spend, give,
(49:03):
or take 300 k depending on themarket.
That's, you know, that's inwithin range for most of my
clients who make about 75,$80,000 a year.
You know, any more that you canspend, you can probably earn a
little bit more with some keyfeatures and stuff.
But I mean, if you wanna makemore, yeah, if you have like
enough, you could buy a half amillion dollar house.
(49:23):
You know, you can probably turnthat into a 10 k monthly
strategy if you want foryourself.
Okay.
That's really good.
All depends on the strategy andhow much you want to have.
Yeah, in your pocket.
Like I have three because I didthis when I didn't have a plan.
I didn't know what the hell Iwas doing.
You know, like I've thought ofit and I may like go back and
wipe all three and turn it intojust one.
(49:43):
Like it would be easier withless questions.
But you know, I kind of gotstarted and I didn't have any
guidance, so I just did what Idid.
So that's a pretty good, I thinkwe kind of created the profile
while we were here.
75 to 80,000 a year is whatthey're earning.
They get the house.
The house makes six to eight.
Then with that, they can alreadygo to most, they can go to all
of Latin America with that andget a residency, 75 to 80 K in
(50:06):
most markets in the us.
Like that doesn't, that's notNew York City or la you know,
not at all.
But in most markets, that'sprobably the roughly the minimum
you wanna make to be able toturn into a strategy like that.
And also somebody who's nottrying to move abroad next week.
Yeah.
Yeah, months, six to eightmonths, like my clients we're,
our process.
I've had people do start tofinish, do this as fast as four
(50:29):
months.
Yeah.
You know?
And I've had people that's stillpretty fast though.
So yeah, four months is fast.
The average for my clients isaround six, six or seven.
But you can do it as fast asfour if you're ready on day one.
And you don't waste any time.
And you're not super picky whenyou're trying to shop for your
home.
Like you just follow theinstructions and you pick
something you buy and.
(50:49):
I've had people take up to ayear,'cause they were really
picky.
Person.
So if you guys are, if you guysfit into that category, the
profile that you, we just saidgo reach out to Tawny.
Mm-hmm.
Uh, because she can help you interms of finding that first
Airbnb, you're not in a hurry.
You're making 75 to 80 k in mostUS markets, you can get that
first property in six months.
You're basically squared away.
(51:10):
Not bad if you ask me.
Now, for those of you who arelike, I, I already did that.
I'm selling my house in theUnited States.
States, I want property inMexico.
Then reach out to us because wehave all the real estate people
and the lawyers and thenotaries, and we'll make sure
you don't break the law byaccident.
Sure, perfect.
And all that kind of stuff.
And sort out the residency andtaxes and all, everything that
(51:33):
comes with that wild animal ofinternational.
Real estate.
So Tawny, thank you so much forbeing here.
Let the people know where theycan find you.
'cause you're always sharingresources on how to get started
doing this.
Yeah, yeah.
Thanks for having me.
Uh, so yeah, if you're onFacebook, find me on Facebook,
just search my name.
Uh, you'll see me probably,probably at the top of the
search results.
I post a lot.
(51:54):
If you're not on Facebook, mywebsite is tawny powell.com.
I'm also on Instagram,instagram.com/tawny Powell.
Uh, those are the three topplaces that you can find me.
I am on LinkedIn as well.
If you're strictly on LinkedIn,just search my name.
I'm not hard to find.
Great.
Thank you so much for being heretoday and kind of, uh, helping
us better understand the Airbnbworld and how someone can use it
as, um, their means of income sothat they can finally.
(52:17):
Go overseas and then still haveassets in the United States.
Everyone, thank you so much forbeing here today.
If you like this episode, youalready know the drill.
Give it a like, leave us areview on all the podcasting
platforms.
Share it with a friend.
'cause uh, we're doing God'swork here trying to get people
living in other countries andgetting out of some interesting
situations in the us, Canada,and Western Europe right now.
(52:40):
And Australians, you guys arereaching out as well, so make
sure to share this with a friendand we will catch you guys on
the next one.
Thank you.
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