How to Make a Living While Traveling the World
And always having a home to stay in
1. Young people are renting apartments in the cities/locations they love to visit & where their friends are located
Think about where you would like to rent apartments. Check into any regulations on short term rentals. Check with the building management. Do they now have vacancies? Rents are now stabilizing or receding.
2. Each group of friends is a closed group
The number of friends = the number of apartments. You might be able to do this with your current apartments. Do your due diligence.
3. The apartments they rent are placed on AirBnb
Place your units on AirBnb. Hire turnover help for cleaning, etc. in each location. You benefit by always having a clean apartment. Make your travel plans.
4. The apartments are rented on AirBnb when they are not occupied by one of the group members
Calculate how many days per month each apartment could be rented. Deduct your expenses, including your rent. Split the profit among members for travel expenses.
5. The AirBnb profits are split among the group members based on some pre-agreed metric
Your metric choices could be any number of factors or just split evenly. If your rents on your apartments differ, you could use the percentage of your rent to all rents.
6. The friends group then has $ to fund their travels around the world
You now have a clean home to stay in located in your favorite cities. Book your flights. One way to look at this is to pre-screen airline routes & schedules to find potential cities that are easy to get to. Accumulate frequent flier miles for free upgrades/trips.
7. The friends group then always has a place to stay in their favorite places
When you have friends/family that are spread out around your country/world, this may be an alternative that allows you to have more family/friends time.
8. It requires a little management & attention
You might want to reward whomever is going to do your project management with a bonus of some sort.
9. Could be done on any scale - the apartment owner/manager takes care of repairs, etc.
Carefree living and travel is particularly attractive to certain demographic groups.
10. IF I had profits in other assets, but wanted to mitigate downside risks, I might consider using this model to leverage income while I let profits run or liquidate investment losses. Just sayin’.
Businesses/side hustles conducive to these types of arrangements are consultants, bloggers, photographers, etc. I’m sure you can think of many more.