49 min

#155 with Richard Carey: How to Pay Off 20 Properties While in the Military and Investing Completely Out of State Millennial Millionaire Real Estate Podcast

    • Investing

In this episode, Jonathan Farber interviews Richard Carey on his journey from trying on real estate as a retirement solution to paying off 20 properties from overseas while on deployment. Richard is a long distance investing specialist who focuses on avoiding debt. In this episode, we get into topics like: impressions of an early investor, tips for new investors, long distance investing strategies, and more!

Top Takeaways:

Lessons learned from a stumbling start - 14:00 - 17:00


Find a cheap market and apply whatever advantage you have to get through the first few

Offering cash and quick closing can be an in to sellers with flaky buyers

Note what needs to be set up so you can operate the business remotely


Advice for a real estate newbie - 18:15 - 22:00


Leverage is useful but it can be a tempting trap to get out of a bad spot

Don’t believe all the hype until you can double check the numbers for yourself

Give yourself enough time to do your first deal on a traditional 20% loan


Best strategies for long distance investing - 24:00 - 28:15


Back when it was there for the taking, a consistent 80:1 all in to rent ratio was a safe bet

Finding a management company that you can trust with your best interest at heart is vital

A more lucrative strategy is buying properties that need work, if you can get a team on the ground


How to bring value to Richard Carey:


Check out his website


Social Links:

biggerpockets.com/users/RichonMoney

richonmoney.com

Connect With Our Sponsor, MartelTurnkey:

martelturnkey.com

Schedule a Call

info@martelturnkey.com

Connect With The host, Jonathan Farber Here!

jonjfarber@outlook.com

LinkedIn: https://www.linkedin.com/in/jonathanfarber1/

Instagram: @jonjfarb

Facebook: https://www.facebook.com/jonathan.farber.9

Facebook Group: Real Estate Mentorship Mastermind

https://www.facebook.com/groups/860025821084224/

BiggerPockets: https://www.biggerpockets.com/users/JonathanF29

Youtube: https://www.youtube.com/channel/UCB8BJ8K5ILXdfOnsDWamVqw

Schedule a time to talk: https://calendly.com/jonathan-farber/1-on-1-with-jonathan-farber-mmtr

Apply to be a guest on the podcast here: https://forms.gle/YNmALHUvDvuMWVVFA

In this episode, Jonathan Farber interviews Richard Carey on his journey from trying on real estate as a retirement solution to paying off 20 properties from overseas while on deployment. Richard is a long distance investing specialist who focuses on avoiding debt. In this episode, we get into topics like: impressions of an early investor, tips for new investors, long distance investing strategies, and more!

Top Takeaways:

Lessons learned from a stumbling start - 14:00 - 17:00


Find a cheap market and apply whatever advantage you have to get through the first few

Offering cash and quick closing can be an in to sellers with flaky buyers

Note what needs to be set up so you can operate the business remotely


Advice for a real estate newbie - 18:15 - 22:00


Leverage is useful but it can be a tempting trap to get out of a bad spot

Don’t believe all the hype until you can double check the numbers for yourself

Give yourself enough time to do your first deal on a traditional 20% loan


Best strategies for long distance investing - 24:00 - 28:15


Back when it was there for the taking, a consistent 80:1 all in to rent ratio was a safe bet

Finding a management company that you can trust with your best interest at heart is vital

A more lucrative strategy is buying properties that need work, if you can get a team on the ground


How to bring value to Richard Carey:


Check out his website


Social Links:

biggerpockets.com/users/RichonMoney

richonmoney.com

Connect With Our Sponsor, MartelTurnkey:

martelturnkey.com

Schedule a Call

info@martelturnkey.com

Connect With The host, Jonathan Farber Here!

jonjfarber@outlook.com

LinkedIn: https://www.linkedin.com/in/jonathanfarber1/

Instagram: @jonjfarb

Facebook: https://www.facebook.com/jonathan.farber.9

Facebook Group: Real Estate Mentorship Mastermind

https://www.facebook.com/groups/860025821084224/

BiggerPockets: https://www.biggerpockets.com/users/JonathanF29

Youtube: https://www.youtube.com/channel/UCB8BJ8K5ILXdfOnsDWamVqw

Schedule a time to talk: https://calendly.com/jonathan-farber/1-on-1-with-jonathan-farber-mmtr

Apply to be a guest on the podcast here: https://forms.gle/YNmALHUvDvuMWVVFA

49 min