This is BETTER than Five-Star Hotels

growing up I was really fortunate that my father was successful in business and was getting invited to participate in and occasionally even speak at all sorts of conferences around the United States occasionally even around the world and so we get to go on these really nice trips stay at really nice hotels from you know the Four Seasons to you know the ritz-carlton I mean the Hyatt Regency in Maui and it's really nice experiences growing up and I was very fortunate to have that and so when I get older at 22 23 I really get into the idea of traveling and I started the exploration that led to what we now do here at Nomad capitalist the exploration where I started realizing that there are greater opportunities for many of the things that you're already doing in other places of the world whether it's better banking higher returns more protection etc and as I started traveling and when I first started out I was running a growing business and I would stay at halfway these in places but my ambition was always to stay at the world's finest hotel some of which I was privileged enough to stay in growing up that was the goal and I remember about seven or eight years ago friend of mine took me to a st. Regis Hotel in in the u.s. in California and I said wow you know I've been traveling for a while now but like I should be traveling like this as my businesses grew and I was always a little bit behind the game in terms of how much money I would spend on certain things I've always been a conservative guy I don't like to spend everything that I earn but to save most of what I you're in actually especially now that I've reduced my tax rate to very very low and I said yeah this is what I want I want these great you know hotels of the world and so fast forward a couple years and I decided that's all I'm gonna do I'm gonna stay in these these great 5-star hotels that are the the envy of all and so for a while I was spending close to 200 nights a year in five-star hotels and what I noticed was I would I would feel kind of weird sometimes there were some hotels where they were very nice but it's an I don't hold back I don't really mince words I'd like to be polite but I don't do the things that a lot of other people do and you're probably the same if you're watching this channel where if you want to say something you just say it and you know you maybe try and be nice about it but you but you're not you know everything's in hushed tones you just communicate normally and I think that you know my hope my experience at hotels was was that that wasn't the thing it's very bureaucratic at most hotels it's very diplomatic it's I've always said that all these folks would would do very well at the United Nations and that's fine we can all be different but for me I just never felt quite comfortable there and the more time I spent at 5-star hotels especially corporate 5-star hotels for me was the Marriott chain which I've basically sworn off now but occasionally you know you'd go to like a nice Hyatt or you'd go somewhere else and it just didn't really suit me that well and so you know what it is sided awhile into my time traveling was the two things number one I wanted to travel less our team has grown I wanted my team to do a lot of the schlepping around the world but what I was going to go and travel and see the different places in the world I wanted to find a solution to hotels which I found weren't served in me because you know here's what I found a lot of folks think that the five-star hotels of the world are are the place to be and that's you know you've really made it when you've gotten there and I can tell you there's a kid I thought that was that was making it but what's interesting is you know talking to and working with folks who are in the 8 and 9 and occasionally even 10 figures you know what do they do when they want to go to different places well they have one level that's even higher and I found that this is something that everyone can apply if they want to live the Nomad capitalist lifestyle what those folks do is they have homes around the world and just as Tim Ferriss talks in the 4-hour workweek how you can democratize things that used to be available only to the jet-set elite this is something that I believe that everyone can do because I think that a lot of folks who are just starting out view the top hotels as as if you know that's the top of where goes what I've decided to do instead now in my life is look at the places having explored the world and this takes a while obviously you have to know where you want to be if you know the cities that you like the places that you like but knowing the places that I like what I've made it my mission to do is to go out and acquire real estate in these places it could be an apartment in the city could be land to build on in a more rural environment at something I'm actually working on more now and going to the future looking for you know the winter Lodge to go to hang out with the bearskin rug and the fireplace and no Wi-Fi and just you know do writing you know read books looking for you know the summer escape you know the ski chalet whatever it may be that you like but you can have many different many different types of places and so what I found is in a lot of different countries you can buy real estate and actually get a decent you return on your money versus what you'd pay for a five-star hotel now I personally don't buy properties in five-star hotels so I know that you know you'll have the ritz-carlton residences at the st. Regis residences or in Asia the banyan tree residences many of these these hotel chains have developed serviced residences that they slap their name on and you've probably seen this concept you know get the most press with with Donald Trump who when he was running for president a lot of attention was paid to the fact that he would license his name out to real estate developers and there would be some kind of standard operating procedure for what they had to do to to use the Trump name that they were paying for and they could use that on their hotels he wasn't actually running or building the hotels and in many cases I guess he does run some but in a lot of cases he was just licensing his name out to apartments apartment buildings that were in hotels and so I don't buy in buildings run by hotels because they're generally way overpriced I was looking at one in Kuala Lumpur just for fun recently it's like three times the price for the same square footage but what I have found is you know for me the patina of the five-star hotel wears off a little bit when you have your own homes that you can do whatever you want with so I really like interior design I've been proving my interior design skills over the years and I really enjoy quality interior design 5-star hotels they do a decent job of it but what I've noticed the more I stay in them if you're gonna be doing Nomad capitalist long term you'll probably notice this too you'll notice that you know the furniture is kind of chipped in some places or the the carpets kind of stained or you know the artwork is kind of boring you can't you kind of started you know see the same things everywhere and so for me is as much as you know your homes may not be as nice as a five-star hotel in terms of number one amenities or number two you know you may not have gold fixtures or something what I find is that by having homes you get to be in control the biggest thing that I like about being a nomad capitalist is I get to be in control on the bad way there's certain things I just don't want to control but you get to control your tax rate right you don't have to pay 40 or 50 percent tax you can control you can choose how much you pay right you could just choose where you spend time you get to choose how you identify yourself what passport you use etc but you also get to control the environment that you live in and I think that for the 7 and 8-figure entrepreneurs and above that we talked to having good environments is is very important and for me what I believe is better than the best hotels is having an environment that you get to craft yourself now for me I enjoy doing this this may be may be my one hobby is actually going out and doing interior design and with each new home I'm doing more innovative things I'm doing nicer things I'm doing nicer flourishes like it comfortable paying more with each home mrs. H has recommended a couple things to me you know such as you know nicer moldings and stuff like that that it really made you know some of the homes look nicer but this is something that if you've looked at the idea of staying in hotels and you like five-star hotels I can tell you from experience crafting homes that have the art that speaks to you that have the flooring that you like that have the fixtures that you like long-term is not only a better investment because you can get you know an effective yield getting back what you're not paying the hotels and you can get a decent yield because you might stay in a $500 a tie hotel in you know somewhere in Europe or even more potentially in Europe but you could buy a halfway decent apartment that's a little bit bigger and has its own separate kitchen and all that to where you might get a a six or seven or eight percent yield now tell me where in Europe you're gonna get a six or seven or eight percent yield but if you're spending time living in Europe you don't have to pay rent you don't have to lose that money you can control your environment better and when compared to hotels I think that you basically can scale it into whatever you want I'm not saying you should never stay to a hotel I personally am on a mission to almost eliminate hotels from my life other than you know going to a few hotels where I literally like the people and I I like to drink teehee or like to have a cocktail what have you but better than at the best hotel is an environment that you control you own it I personally have talked about how we don't rent my homes out when I'm there but to those of you have asked you know why have I reduced time at hotels because I'm an make me investments that sometimes give me a residence permit sometimes give me a passport but they put me in control they put me in control my environment now what I found is I don't need the services I don't need the stress of calling and saying hey can you send a teapot up I know where my teapot is and I have the teapot that I like and I have the teas that I like and I'm not waiting on others I know that's something that a lot of folks that I have worked with especially the higher levels have really appreciated is they just like to be in control I've had folks that we've worked with who have Butler's who are sometimes the most highly trained Butler's you've been imagine I'm not really at the butler level right now and since they move around so much it seems like a lot of logistics and so short of having one of the world's best trained Butler's I just want to know where my teapot is I don't I you know I can handle my own dry cleaning in my own home I can have the number written down in the place and I can call them and send the dry cleaning out I don't need the hotel to handle that for me because what I can tell you is with these hotels they're always making mistakes you order you call the dry cleaning you got to call them four times then they say they'll be there by 6:00 you're calling it eight o'clock where is it I'm going out to dinner oh we're very sorry we're trying our best and so this is not to complain about hotels although I feel like I've graduated from them it's to tell you that you can create the hotel like an environment all the good things plus a lot more control by simply buying properties all over the world and so if you've been traveling and playing the hotel game to me this is the next level this is better than collecting hotel points you know you don't want to live like the guy and God bless this guy but you don't want to live like the guy who's doing you know inside sales for IBM and in Melbourne right nothing wrong with that not opposed to it but it's a different game you know if you're going to a corporate job and you're used to a corporate environment and then you travel and do sales calls and stay at a corporate hotel chain and you collect your points and then you go on a vacation once or twice a year that's a different game than being in total control of your life as a seven or eight figure entrepreneur living where you want controlling your environment this to me is really the ultimate level of living how can Nomad capitalist help you four ways number one subscribe to our Channel and click the notification bell to make sure you get our new video every day number two get a copy of Nomad - capitalist the book you'll learn a lot of my personal experiences over a dozen years of studying this stuff as well as exactly some of the strategies that you can use to build your nomadic capitalist plan number three if you're not sure where to start but you want to come and learn from my team and I you want to come and mingle with like-minded people learn more about our live conference Nomad capitalist live it's coming up soon and number four if you want some help right now because you've got a burning issue you need something solved you want to lower your taxes get a second passport or build the Nomad capitalist lifestyle of your dreams go to Nomad capitalists calm and click on become a client

Channel: Nomad Capitalist

Views: 33,261

Rating: 4.8404727 out of 5

Keywords: nomad capitalist, nomad capitalist mindset, nomad mindset, nomad lifestyle, go where you're treated best, traveling around the world, second citizenship, second passport, expat lifestyle, expat life, Houses around the World, homes around the world, trifecta lifestyle, digital nomad, expat real estate, wealthy nomad, millionaire expat, owning homes around the world, rich nomad, international real estate investing, long term travel, move overseas, life abroad, hotel life

Id: bQDJzS3qE9c

Length: 12min 50sec (770 seconds)

Published: Fri Jun 05 2020