How to Invest in Real Estate, Debt-Free, from Thousands of Miles Away, with Rich Carey

Afford Anything | Make Smart Money Choices

Paula Pant | Cumulus Podcast Network

Investing, Entrepreneurship, Business

4.7 • 3.6K Ratings

🗓️ 24 September 2021

⏱️ 80 minutes

🔗️ Recording | iTunes | RSS

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Summary

#339: Have you ever thought, “I’d like to invest in rental real estate but there are no cheap properties in my area!” “Homes in my city are too expensive. I’d have to invest out-of-state, but that sounds terrifying.” Or have you ever thought, “I’m curious about real estate but I’m not a fan of the idea of taking on all that debt.” Today’s interview is right up your alley. We talk to Rich Carey, who bought 20 single-family rental properties in Alabama, totally debt-free, while stationed in Germany and South Korea. He invested not just out-of-state, but entirely from outside the country. He bought his properties free-and-clear. And he did it on a military salary while raising two kids. This interview originally aired in June 2018. Enjoy! For more information, visit the show notes at https://affordanything.com/episode339 Learn more about your ad choices. Visit podcastchoices.com/adchoices

Transcript

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0:00.0	Hey, what's up? This is Paula. I am currently in Austin, Texas. I'm actually
0:04.2	recording this from the Austin Convention Center. So if you hear a bunch of
0:07.0	noise in the background, that's because I'm in a convention center. And I'm
0:11.6	hosting and emceeing a big conference for people who create podcasts and other
0:16.7	kind of digital media around personal finance. And speaking of personal
0:20.3	finance in today's podcast episode, you are going to be listening to an
0:25.0	interview that originally aired in June 2018 with a real estate investor by the
0:29.5	name of Rich Carey. Now, if you have ever had the thought that you live in an
0:33.9	expensive area and there are no good rental properties anywhere close to you
0:39.2	because you live in a high-costable living area. Well, guess what? If you want to
0:43.5	talk long distance investing, no one that I've ever met has done it better than
0:48.3	Rich. This guy bought 20 single-family homes, totally free and clear, completely
0:54.4	debt-free, and he bought the majority of them while he was stationed in Germany,
0:58.9	with the Air Force. And then the rest of them, the ones he didn't buy from Germany,
1:02.6	he bought from South Korea. So you want to talk long distance investing, you want to
1:07.4	talk debt-free real estate investing. Rich Carey is the guy for that. This interview
1:12.3	originally aired June 2018. I am so proud and happy to run it for you again
1:17.4	today. Catch you at the end of the interview. Talk to you then.
1:30.2	You can afford anything but not everything. Every decision that you make is a trade-off
1:34.0	against something else and that's true, not just for your money but also your
1:37.1	time, your focus, your energy, your attention, anything in your life that's a
1:41.0	scarce or limited resource. And so the questions become twofold. Number one, what
	...

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