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b'How Can Investors Build Wealth From Afar?\\n\\xa0\\nThis episode of The Passive Wealth Strategy Show features Air Force veteran and real estate investor Rich Carey, who shares how he built a sizable rental portfolio while serving overseas.\\n\\xa0\\nRich started with a single rental property in Washington, DC which he turned into his first investment. He then bought several properties in Montgomery, Alabama, before relocating abroad. From Germany and other overseas postings, Rich continued purchasing rentals in Montgomery by relying on a local team he had built.\\n\\xa0\\nRich and his family currently live in Seoul, South Korea, while he serves in the US Air Force. He and his wife own 20 single-family rental properties in Montgomery, Alabama which are completely paid off. They have no debt, and are a single income (aside from their rental portfolio) household.\\n\\xa0\\n(00:00:00 - 00:06:00) Opening Segment\\nRich bought his first investment property, a townhouse in Washington DC, in 2003 when he was first stationed there.\\nHe turned it into a profitable rental when he was relocated two years later.\\nThis gave him the confidence to continue investing in real estate.\\n\\xa0\\n(00:06:00 - 00:09:00) Buying Rentals From Overseas\\nWhile stationed abroad, Rich bought several rental properties in Montgomery by leveraging a local team.\\nThe team included a real estate agent, property manager, inspector, and contractors.\\nHis property manager took on rehab projects while keeping costs low.\\n\\xa0\\n(00:09:00 - 00:15:00) Managing Logistics and Risks\\nRich\'s biggest mistake was not getting insurance immediately on a new purchase.\\nA small fire broke out before he switched on the policy, costing him $8k out of pocket.\\nOverall the overseas investing process worked well, with his trusted team vetting each deal.\\n\\xa0\\n(00:15:00 - 00:22:00) Deciding to Self Manage\\nAfter retiring, Rich took over managing his rentals instead of using a property manager.\\nHe found he could better control expenses and choose higher-quality tenants this way.\\nRich leverages technology like electronic leases to remain hands-off.\\n\\xa0\\n(00:22:00 - 00:34:00) Closing Segment\\n\\xa0\\nBest deal: His first Fourplex\\nWorst deal: A townhouse in Alexandria, Virginia\\nBest lesson learned: Don\'t be afraid to miss out.\\n\\xa0\\n"You don\'t need to be scared of [using leverage]. Responsibly leveraging debt can build wealth faster." - Rich Carey\\n\\xa0\\n"It took 13 years of preparation to be an overnight success." - Rich Carey\\n\\xa0\\n"Nobody cares more than you do. They\'re your properties." - Rich Carey\\n\\xa0\\nConnect with Rich:\\nTikTok: @richonmoney\\n\\xa0\\nApply to Invest with Taylor at\\xa0www.investwithtaylor.com\\n\\xa0\\nTrack your wealth for free with Personal Capital, go to\\xa0www.escapingwallstreet.com\\n\\xa0\\nPlease leave a review and help others escape Wall Street and build wealth on Main Street!'