February 28, 2022

#30 VA Home Loans with Rich Carey from "Rich on Money" - Using the VA Loan to Buy Rental Properties, How to Buy 30 Doors Before You Leave Active Duty, and Why Real Estate Is the Last Investment You Should Consider

54 minutes

If you want to learn how to set yourself up to purchase your first rental property, check out my book The Military Money Manual: A Practical Guide to Financial Freedom. Available now on Amazon, Kindle, Audible, and my website.

On today's episode Spencer and Jamie welcome Rich Carey from Rich On Money

Website
YouTube
TikTok

Topics we address today:

VA home loans for primary residences that you can turn into rental properties when you PCS
The 1% rule for buying rental properties and then 50% rule. Your profit is not mortgage minus rent! You must include expenses as well.
How to set yourself up financially to be in a position to get into real estate
How Rich purchased dozens of homes remotely and 30 doors by the time he retired from the military
The systems Rich built to automate his property management
What Dave Ramsey and Rich Carey disagree on
The downfalls of the VA loan in a seller's market (like February 2022)
Why short term rentals like Airbnb aren't Rich's cup of tea
If you can use a VA construction loan for a new home build
Why Rich doesn't recommend LLC structures for most military landlords
Why Rich doesn't recommend any books on real estate investment

This was a great episode! Jamie and I (Spencer) both learned a lot and we hope you will too.

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By Spencer Reese from MilitaryMoneyManual.com

128128 ratings

February 28, 2022

#30 VA Home Loans with Rich Carey from "Rich on Money" - Using the VA Loan to Buy Rental Properties, How to Buy 30 Doors Before You Leave Active Duty, and Why Real Estate Is the Last Investment You Should Consider

54 minutes

On today's episode Spencer and Jamie welcome Rich Carey from Rich On Money

Website
YouTube
TikTok

Topics we address today:

VA home loans for primary residences that you can turn into rental properties when you PCS
The 1% rule for buying rental properties and then 50% rule. Your profit is not mortgage minus rent! You must include expenses as well.
How to set yourself up financially to be in a position to get into real estate
How Rich purchased dozens of homes remotely and 30 doors by the time he retired from the military
The systems Rich built to automate his property management
What Dave Ramsey and Rich Carey disagree on
The downfalls of the VA loan in a seller's market (like February 2022)
Why short term rentals like Airbnb aren't Rich's cup of tea
If you can use a VA construction loan for a new home build
Why Rich doesn't recommend LLC structures for most military landlords
Why Rich doesn't recommend any books on real estate investment