cover of episode 268: Acquiring 20 Long-Distance Rental Homes (on a Military Salary!) with Rich Carey

268: Acquiring 20 Long-Distance Rental Homes (on a Military Salary!) with Rich Carey

Publish Date: 2018/3/1
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BiggerPockets Real Estate Podcast
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Shownotes Transcript

    <p>Many people feel that because their local market isn’t great for rental property cash flow, they can’t invest. Don’t tell that to today’s guest, who for the past decade has been doing just that—even while working full-time in the U.S. Military! Today’s guest is <strong>Rich Carey</strong>, who shares with us his strategy of buying rentals in one location, despite living in many different places across the world. Rich also discusses his strategy of NOT using leverage, instead choosing to buy properties with cash instead, which has allowed him to maximize his cash flow and has given him true financial independence. Rich’s story is inspiring and highly educational, so set aside time today to listen to the whole interview. We think you will <em>really</em> like this one!</p><p>In This Episode We Cover:</p><ul>
  • How he bought his first property while assigned in Guam
  • Tips for flipping new construction
  • Why you should consider switching investing style after a flop
  • Why you shouldn’t buy a house, unless…
  • Advice on long-distance house flipping
  • What you should know about partnerships and trust
  • His experience investing in properties in military bases
  • A discussion on leveraging properties
  • The importance of having a frugal lifestyle
  • Hiccups on his first property and valuable lessons from it
  • How he manages his properties out-of-state
  • And SO much more!

    • Links from the Show

    Books Mentioned in this Show

    Fire Round Questions

    Tweetable Topics:

    • “You can pay off a mortgage pretty fast when you put your effort into that.” (Tweet This!)
    • “I don’t believe that you have to wait for things to crash then invest everything.” (Tweet This!)

    Connect with Rich

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