Owning a portfolio of homes across different countries can be an attractive way to diversify assets and guarantee a ready‑to‑use base when you travel. However, the strategy brings a set of practical challenges that need to be managed proactively.
Estate‑planning and legal structures
- Jurisdiction matters. In some Latin American nations, transferring ownership to heirs can take a decade of court battles because of heavy bureaucracy.
- Corporate ownership. Placing a property in a company or a trust can simplify succession and protect against local legal delays.
- Research local law. Before buying, verify whether the country allows easy incorporation of foreign investors and whether property can be held by a non‑resident entity.
Security and break‑ins
- Experience: The only break‑in reported occurred in a U.S. rental property where the surrounding neighborhood deteriorated.
- Mitigation:
- Prefer condos or apartments with controlled access rather than detached houses.
- Choose higher floors (third or fourth) when possible, as they are less prone to intrusion.
- Keep personal valuables (phone, laptop, wallet) with you; store other items in locked storage.
Squatters
- Varied risk: Some countries make it difficult to evict squatters, while others have straightforward eviction processes.
- Prevention:
- Acquire property in jurisdictions with clear landlord rights.
- Use reputable property managers who can monitor occupancy and intervene quickly.
Ongoing management: bills, taxes, insurance, HOA fees
| Item | Typical handling | Example cost |
|---|---|---|
| Utilities | Set up online accounts; automate payments via credit card or bank transfer. | Tbilisi: $11 /month for electricity, $35 /month total (including internet). |
| Property taxes | Delegate to a local accountant or use a standardized procedure. | Montreal condo: $7 k /year. |
| HOA fees | Pay through online banking; many properties have none. | Montreal condo: $28 k /year. |
| Insurance | In Montenegro, policies above €30 k are hard to obtain; often a minimal policy is taken, focusing on land value rather than structure. | — |
| Data sheets | Create a master spreadsheet for each property listing address, purchase price, rental status, utility account numbers, payment methods, and login URLs. | — |
Standard operating procedures (SOPs) are essential once the portfolio grows. A typical SOP includes:
- Arrival checklist – turn on hot‑water heater, verify internet, set thermostat, secure doors, and note any pest controls.
- Departure checklist – turn off non‑essential appliances, unplug devices, empty trash, and confirm that all utilities are set to standby.
- Welcome guide – for friends or guests, provide instructions on operating appliances, waste disposal, and local contacts.
Staffing and support
- Property managers – In most locations, a local manager handles day‑to‑day issues, from maintenance to bill payment.
- Family and friends – In places like Georgia and Malaysia, trusted relatives can act as on‑ground contacts.
- Remote coordination – Automate payments where possible; keep passwords and login details in a secure, centrally accessible location.
Cost considerations
Carrying costs vary dramatically:
- Low‑cost regions – In Tbilisi, utilities run about $35 /month, making it inexpensive to keep a home vacant but ready.
- High‑cost markets – In North America, HOA fees can exceed $28 k /year and property taxes add several thousand dollars, quickly rendering an empty home financially impractical.
- Decision rule – Avoid purchasing in markets where annual carrying costs exceed the expected benefit of occasional use, unless you can offset them with rental income or other revenue streams.
Practical takeaways
- Conduct thorough legal due diligence and consider corporate ownership to streamline succession.
- Prioritize security‑friendly property types (condos, higher floors) and maintain minimal on‑site valuables.
- Use standardized data sheets and SOPs to manage utilities, taxes, and maintenance across all locations.
- Leverage local contacts or professional managers to handle day‑to‑day tasks, especially when you cannot be physically present.
- Evaluate the total annual cost of ownership—including utilities, HOA fees, taxes, and insurance—against the frequency of use; high‑cost markets may be unsuitable for a “empty‑home” strategy.
By treating each property as a repeatable process rather than a unique case, the complexities of a global real‑estate portfolio become manageable, allowing you to enjoy the convenience of a ready‑made base wherever you travel.
