A year like 2020 probably had the majority of us fantasizing about what life could be like outside the U.S. I don’t know about you, but the idea of packing up my bags and building something new on a beautiful island is certainly appealing. This week, I brought on Beau Rakes, entrepreneur and ex-pat, to discuss how he transitioned to the Dominican Republic.
He’s managed to live full-time in the D.R. while still operating his business stateside.
We talk about how he built his business and started investing in real estate from a young age. Much of our conversation revolved around the importance of making connections and networking, which we value highly in the cigar lifestyle.
How Beau Rakes Found Entrepreneurship
The beauty of the stick is how it can bring people together. Beau makes sure to visit a cigar lounge at every new place he visits. At the end of the day, it’s all about the relationships you make, and it’s through those relationships that Beau has found great success as an entrepreneur.
He’s had the bug from a young age. In fact, he bought his first home at just twenty years old. Beau started working for the MARTA here in Atlanta right out of high school. He came from a long line of entrepreneurs and was raised on the foundation of hard work and hustling.
His first home was used as a rental property and was his first taste of what passive income could be. That extra $400 a month helped him visualize a possibility for his future as he continued his logistics career.
Branching Out
After his work contract ran out, Beau decided to lean into his desire to live outside of the U.S. He made it his goal to figure out a way to live for free and decided to buy a duplex and flip it. That property became an Airbnb rental, and he’s done the same with several more properties.
This is when the power of networking comes to play. Throughout his work, Beau was eventually introduced to one of the biggest property managers in Buckhead. He joined her on some projects and just continued building up his portfolio of expertise.
I love his story because of Beau’s ability to say yes to the opportunities presented to him. His hard work and self-belief have opened doors of endless possibility for him.
Choosing the D.R.
His success and confidence helped him cement the idea that he wanted to explore the world. Establishing residence in the D.R. seemed like a no-brainer with its great infrastructure, beautiful landscape, and welcoming community. He says Santo Domingo is a lot like Miami without the hefty price tag!
Advice for Those Looking to Move
His piece of advice for those looking to follow in his footsteps is first to secure your financial backing in the United States. Make the dollar work for you. Beau has been making big moves, but it hasn’t cost him an arm and a leg because he focuses on making smart and intentional decisions.
You got to get out of the rat race and finetune that focus. Figure out what kind of work you can do from anywhere. Right now, Beau is dabbling in trading because he can do that in the D.R and really any place that has a stable internet connection.
As for his business in the States, he can still run that from afar with his trusted colleagues keeping tabs on what needs to be done in person. Beau has been able to buy his time back and live life as he pleases. I’m loving his outlook on life and recommend that you listen to this week’s episode to really get a taste of the lifestyle he’s built for himself!
