Podcast
Rich on Money
Hosted by Rich Carey · EN
I'm going to talk about my unique approach to money, real estate, property management, and life.
I'm retired Air Force. Now a real estate investor, property manager, and realtor who is too lazy to go back to a real job.
I'm anti get-rich-quick. Anti no-money-down. I'm anti fad, bitcoin, daytrade, market timing, etc.
I lived frugally early on in my working life. I saved and invested well. Maxed out IRAs and 401k my whole working life. Invested in index funds for the long term. My finances are surprising simple, and it turned out to be surprisingly effective.
19episodes
Episodes
Newest firstAll episodes
Why Most Investors Don’t Need an LLC
Apr 1800:12:51Tap to summarizeLLCs in real estate are one of the most overhyped topics out there, and most people completely misunderstand what they actually do.In this episode, I break down how LLCs really work, what they’re supposed to do, and why so many of the claimed benefits are either exaggerated or flat-out wrong. I cover the biggest myths, including liability protection, tax write-offs, and the idea that an LLC can somehow help you build business credit with no money or experience.I also explain the real downsides that people don’t talk about—higher costs, more complexity, harder financing, and the risk of thinking you’re protected when you’re not.If you’ve been told you need an LLC to be a “real” real estate investor, or that it will somehow unlock more money, more credit, or more protection, this episode will set the record straight.No hype. No fluff. Just how it actually works in the real world.
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You’re Being Lied To About Real Estate Investing
Apr 1300:18:45Tap to summarizeMost people get into real estate investing because they’ve been sold a lie.They’re told they can do it with no money, no experience, no credit, and somehow replace their income in a few months. It sounds exciting. It sounds like a shortcut. And it’s exactly how a lot of beginners end up losing money, going into debt, and quitting.In this episode, I break down the biggest lie in real estate investing and why it’s so convincing. I walk through the most common strategies being pushed right now—BRRRR, no money down, creative financing, wholesaling, using other people’s money—and explain what actually happens when beginners try them.I also explain what I did instead. No hype, no shortcuts. Just real estate done the boring way that actually works.If you want to build wealth with real estate without blowing yourself up financially, this episode will save you time, money, and a lot of frustration.
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The Dirty Secret Behind 6% Commissions
Apr 700:19:56Tap to summarizeIn this episode of Rich on Money, I break down one of the most misunderstood parts of real estate: commissions.We walk through where commissions actually come from, why sellers typically pay both sides, and why buyers are still indirectly paying even when they think they are not. I also explain what changed with the National Association of Realtors settlement and why those changes have had very little real impact in markets like mine.We also take a hard look at For Sale By Owner and why it often does not work the way people expect, along with a realistic discussion of whether real estate agents are actually worth the money. I share my own experience as both an investor and agent, including how much I truly save on commissions and why it is not nearly as much as most people assume.This episode is about cutting through the confusion so you understand how the system works and can make smarter decisions in your own real estate deals.
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Avoid this $10,000 landlord mistake by trusting science over yourself
Dec 600:14:31Tap to summarizeWhy do smart landlords still choose terrible tenants… and lose thousands doing it?Because most of them make one crucial mistake: they trust their gut.In this episode, Rich breaks down the psychology behind bad landlord decisions using lessons from Thinking Fast and Slow by Nobel Prize winner Daniel Kahneman. You’ll learn why your “good feeling” about a tenant (or contractor, or new hire) is usually a trap — and why simple checklists beat interviews and instincts every time.Rich exposes the five hidden brain biases that trick smart investors into bad picks, shares real stories of costly mistakes, and shows how a few objective criteria can protect your rentals, your money, and your sanity.If you want fewer evictions, fewer headaches, better tenants, and more profit, there’s one rule you must follow:👉 Stop trusting your gut. Start trusting the data.This episode changes the way you think about tenants, hiring, business, and investing forever.
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Here is why getting rich fast fails - every time
Nov 2100:17:39Tap to summarizeEveryone wants to get rich fast — and that’s exactly why most people stay broke.In this episode, Rich Carey lays out The Rich On Money Manifesto — the no-hype, no-guru, no-shortcuts philosophy behind real, lasting wealth. From maxing out IRAs early, buying boring cash-flow real estate, ignoring crypto and day trading, to running rentals like a business instead of a charity, Rich breaks down what actually works in the real world. No gimmicks. No hype. Just systems, discipline, math, and patience.If you’re tired of chasing hot tips, TikTok “gurus,” and get-rich-quick schemes — this episode will completely reset how you think about money, real estate, and financial independence.
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Decide Where to Invest in Real Estate (The Only Framework You Need)
Nov 900:14:26Tap to summarizeDeciding where to invest in real estate can make or break your financial freedom. In this episode of The Rich on Money Podcast, I walk you through a simple but powerful five-level framework for choosing the right market — even if your hometown is overpriced. You’ll learn how to use the 1% rule and 50% rule to instantly gauge whether a property will cash flow, and why “boots on the ground” — either your own or a trusted confidant’s — is the secret weapon most investors overlook.From expensive markets like San Diego or Honolulu to hidden gems like Montgomery, Alabama, this episode shows you how to build wealth no matter where you live. I’ll break down what makes a city affordable, landlord-friendly, and scalable for long-term success. If you’ve ever wondered “Where should I actually buy my next rental?”, this is your blueprint to stop guessing and start investing like a pro.
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Avoid these 9 Supposed Ways to Get Rich Quick
Nov 100:25:34Tap to summarizeChasing shortcuts to wealth? This episode is your wake-up call. I break down the nine most common “get rich quick” strategies people fall for in investing and real estate—day trading hype, crypto fever, timing the market, no-money-down schemes, wholesaling traps, BRRRR fantasies, syndication hype, and even the sneaky sales pitch of whole life insurance. These approaches sound sexy, but they quietly destroy futures, savings, and relationships. I’ve watched smart people wipe themselves out chasing speed instead of sticking to the simple, proven, boring path to long-term wealth—and I’m here to make sure that’s not you.If you want real financial freedom instead of YouTube-guru dreams and internet-hustler illusion, listen in. You’ll learn the no-nonsense strategy I’ve used for decades: slow, disciplined investing, index funds, and smart buy-and-hold real estate. This episode will save you from expensive mistakes, protect you from predatory “wealth hacks,” and put you on a path to steady compounding wealth—the same path that actually builds millionaires in the real world. Watch this before you let hype cost you years of your life and thousands of your dollars. Your wallet—and your future self—will thank you.
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9 Secrets Property Managers Don’t Want You to Know
Oct 2100:18:48Tap to summarizeMost landlords fail at property management because they don’t know what questions to ask—or what red flags to watch for. In this episode, I lay out nine brutally practical tips to stop sucking at property management, drawn from two decades of experience and hard-won lessons from managing 20–30 properties with minimal effort. From understanding fee structures and tenant criteria to reading between the lines on maintenance charges, eviction processes, and referral checks, I explain how to vet a property manager like a pro—and how to catch the warning signs before they start costing you money.Then, I share how I scaled from six to twenty cash-flowing properties while stationed overseas, using one capable property manager as the backbone of his operation. It’s a masterclass in systems, leverage, and trust—but also a reminder that nobody cares about your properties as much as you do. If you’ve ever wondered how to grow your portfolio without losing control, this episode shows you exactly how to build a team, hold them accountable, and finally make property management work for you—not against you.
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The only property management episode you’ll ever need
Oct 800:27:33Tap to summarizeGet everything you’ll ever need to manage rentals—in one 27-minute masterclass. I pull back the curtain on my no-nonsense system from 20+ years and 20–30 doors: airtight tenant criteria, bulletproof applications and leases, how to run self-showings safely, verify income and prior rentals, and spot the red flags that wreck cash flow. You’ll learn late-fee discipline that ends chronic lateness, exactly when and how to send pay-or-quit notices, and why an eviction attorney is your secret weapon. I cover move-in checklists, move-out and make-ready (paint, LVP, fixtures, pro cleaning), pet policy, smart rent raises, insurance shopping, practical thoughts on LLCs, clean accounting and paperless records, plus building a fast, fair contractor bench. It’s all tech-enabled, mostly by text, so you stay responsive while protecting your time. Watch once, and you’ll manage better than most “professionals,” keep great tenants longer, and make more money—confident, legal, and in control.
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Episode 18 - From Military to Millions
Oct 100:16:16Tap to summarizeI had a very interesting path from military officer to financial independence. It's definitely not a get rich quick story. It's really a story of making more, spending less, and investing the difference like a boss. I maxed out retirement accounts as well investing wisely and consistently in brokerage accounts and, of course, real estate. Interestingly enough, I paid off my primary residence, and my first 20 investment properties were paid off 15 years into my military career. On one income.
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