Rich Carey: How I Bought 20 Rental Properties in Cash

Some people choose to take out loans to buy their rental properties and others choose to pay cash. Today, we're going to explore why you might want to consider buying in cash and how to do it.
I've invited someone on the show who owns 20 rental properties free and clear. No mortgage, no debt, and he doesn't owe a dime to anyone.
Rich Carey is my guest today. He's married, has two children, and currently serves in the military. He has a passion for real estate investing and teaching others how to pursue financial independence. His story of investing success has been featured in Bigger Pockets, MarketWatch and Business Insider.
#REInvesting #BuyAndHoldRentals #RentalProperties
Transcribed Interview: MarriageKidsandMoney.com/Sessi...
Rich Carey's Blog: RichOnMoney.com
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on Instagram: / andyhillmkm

[@victorl6224]

Excellent interview. What world do we live in that this interview full of useful info has less than 1000 views and a Kardashian complaining about her expensive purse gets 20 million views.

[@MarriageKidsandMoney]

What a kind compliment Victor! Thank you so much. I'm newer-ish to the UA-cam game but I'm committed to bringing quality advice to help people reach their own versions of financial freedom.

[@kristanpeacock1213]

You think this is useful information , the guy got money coming in from somewhere

[@randycoblentz9585]

Great job! Love his story! Being frugal then paying cash is our strategy as well!

[@MarriageKidsandMoney]

It’s a smart way to live!

[@kontomylitis]

Military intelligence guy. He went to Monterey for intelligence school, probably a 35 series MOS. They're some of the smartest guys in the military. And yet such a humble guy

[@MarriageKidsandMoney]

It shows! I learned a lot from Rich in this interview!

[@spoonman4024]

I know this video is old, but I have to say how much I appreciate Rich. His view on finances and ownership aligns directly with my own, and we are on the same path he has been. Can confirm- its worth all the effort and patience. There is no easy route, but the payoff is in a class of its own. Thanks for sharing your incredible story!

[@MarriageKidsandMoney]

I'm so glad to hear you enjoyed this interview with Rich!

[@crazy3rdgen]

Lol 29:35 I was waiting for him to drop Dave Ramsay's name.

[@et5895]

This is a great interview. But the star of the show is your voice. It's very TV!!! Love that!

[@MarriageKidsandMoney]

Thank you so much!!

[@nguye1971]

Great story. Definitely recommend this interview to my son who jut got his officer career started. Thanks for sharing

[@MarriageKidsandMoney]

Glad to hear you enjoyed it!

[@spoonman4024]

I've been in my field for 10+ years along with my wife, and we now use that income to fund cash purchasing. Hard work and patience will always be a reliable approach to wealth. Best of luck to your son!

[@jamesjefferson9228]

Inspiring video. I'm considering moving from a high priced area to a lower priced one and using the recouped equity from moving residences to start investing in rentals debt-free.

[@MarriageKidsandMoney]

This is a great plan James. I wish the best of luck!
It’ll be a big change but could make a huge difference in your future.

[@DmitryMalinkin]

This is my hero!

[@MarriageKidsandMoney]

Isn’t he awesome?!

[@robertspencer5219]

This was an awesome show! Thanks for sharing it.

[@MarriageKidsandMoney]

Robert Spencer Thanks so much! Rich has a wealth of knowledge. I was glad to be able to learn from him.

[@RichonMoney]

Thanks for the comment!

[@CoffeeAndBusiness]

I was in the military and rented a townhouse in Alexandria in 2011 😳

[@MarriageKidsandMoney]

🤑🤑🤑

[@RealwithAida]

Great education

[@MarriageKidsandMoney]

Glad you enjoyed it!

[@VikkiO]

Great video I'm on Property number 4 🎉🎉🎉🎉

[@MarriageKidsandMoney]

Incredible! Doing all cash too?

[@meetthewalkersfreedom1549]

This was very interesting 👀👀💰

[@MarriageKidsandMoney]

Glad you thought so!

[@Sweet_T4u]

Dude, great voice and great intro 👍
Love the catch phrase lol

[@MarriageKidsandMoney]

Glad you enjoyed it!

[@robertspencer5219]

Not to be too pedantic, but there is always property tax in the US. There are some countries that don't have that. So you can never really own a property free and clear.

[@MarriageKidsandMoney]

Robert Spencer Completely makes sense. We’ll always owe taxes! 🤪

[@RichonMoney]

That is so true. Sometimes I don't see how people make positive cash flow with a loan. Easier said than done.

[@Sweet_T4u]

There are ways to get a tax exemption on some properties.
My dad has a bit over a dozen acres an hour outside of his city and he has a neighbor with a few cows (like 6 cows) that he pays my dad to keep on the property. The cows provide a property tax exemption and he gets paid to have them on the property.
Side note, he bought the property cash 20 years ago. It was a run down dump with a double wide that had brown shag carpet and no front porch. There were random piles of construction debris on the property and a giant pit.
Today, it’s worth several times over what it was and it’s a great looking property, with two houses and a pond. It took years, but you Can’t even recognize the double wide, it looks like someone just replaced the old house lol.
He calls it the Fix It Ranch.

[@alexxsanchez2720]

True plus insurance , and maintenance.

[@ryanross9429]

Well then don’t own property. Everyone knows there’s property tax. Lol

[@MarriageKidsandMoney]

What do you think about buying rental properties in cash?

[@osmanxxrngxx1369]

Hi l Was wondering can You pay house Thats worth 100k in cash/papper

[@tinachxx110]

Who’s your property manager?

[@chicago9458]

how's retirement after a few years?