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Don’t Let Travel Deter Your Long-Distance Investments
Attorney & Best-Selling Real Estate Author William Bronchick presents...
VISITING LONG-DISTANCE INVESTMENT PROPERTIES SHOULD NEVER HURT YOUR BOTTOM LINE.
by Sarah Soenke
T
here are real estate opportunities in nearly every corner of the world today. Luckily, you’re no longer confined to your local area as you might have been 15 or 20 years ago. Online resources and real-time technologies now connect buyers, sellers, landlords, and tenants from hundreds or even thousands of miles away. According to the National Association of Realtors (NAR)’s 2017 Commercial Member Profile, around 38 percent of U.S. real estate firms now handle out-of-state properties. Real estate investors are taking advantage of long-distance investing options as well. It is one of the best ways to diversify your portfolio and go after more afford- able markets with more favorable real estate laws and tax rates. Still, travel is an unavoidable requirement for long- distance investing. You’ll have to spend time on the ground in new markets to check out several properties before making a final decision. You’ll also need to check back on any rehab projects to fix any- thing that comes up once you own the property. With or without the help of a local property manager, acquiring a far-away prop-
erty requires at least a handful of out-of-town trips. Fortunately, travel no longer has to be such a financial strain. The same technological advancements that connect buyers and sellers today can also connect you to deeply discounted deals on hotels, airfare, and car rentals. For example, hotel booking plat- forms like Hotel Engine now specialize in connecting businesses, organizations, and their affiliates to wholesale hotel rates around the world. For example, with Hotel Engine, members save an average of 26 percent off public rates at more than 150,000 hotels across more than 185 countries. Long-distance investing requires the occasional trip to visit the asset up close and in person. Investors who fail to personally follow up on properties or who never visit a service provider’s of- fice are more likely to suffer from operational inefficiencies and, as a result, lower returns. You wouldn’t think twice about buying your rehab, maintenance, and repair supplies at a discount to improve your investment. You can do the same for your travel. • With no contracts, annual fees, or minimums, Hotel Engine saves businesses and traveling professionals an average 26 percent off public hotel rates worldwide. Plus, the private hotel booking plat- form offers a full suite of management tools to track tax-deductible lodging expenses for property research, management, and profes- sional development trips. Start leveraging its desktop platform and app to minimize your financial strains. Learn more about how to access these benefits at www.thinkrealty.com/supplier-discounts . •
How to Buy Real Estate (and other cool stuff) in Your IRA
Hotel Engine is a Think Realty supplier. Learn more about the advantages that come with a Think Realty membership at thinkrealty.com/supplier-discounts.
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10 | think realty magazine :: june 2018
thinkrealty . com | 11
www.bronchicklaw.com
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