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
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.
The Military Money Manual Podcast