i interviewed doctor wade fow who was a professor of retirement income at the college of financial planning. i don't want to buy a property unless it's going to pass the one % rule. I bought a house, lived in it, moved away and then rented it out. A lot of people do that. That actually isn't a smart way to a approach real estate. If you have a million dollars and you can withdraw, help me out, paula. Is it forty thousand a year that you can beav so you could withdraw Forty thousand dollars a year, and i live on that, if that's enough for you? Think a lot of people listening might kind of
#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
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