저자: Phil · 외국인
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33세 간호사 Phil의 재무 점검 영상. 듀플렉스 구매(주택보조금 활용), 어머니 콘도 모기지를 증여받는 구조, 시간제 간호 근무로 고수익 유지, 부동산 중개사 자격 취득. 진행자는 향후 1~2년 부동산 시장이 침체(bleed)일 수 있으니 간호 수입을 유지하고 다음 상승장/2024년 겨울 이후 중개업 전환을 검토하라는 조언. 특정 종목·자산 가격 방향에 대한 직접적 예측은 없음.
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I don't think you're going to get a loan for a while right so I wouldn't even be worried about buying right now believe it or not I make a lot more than my managers do the next 18 months you are probably going to go through a pretty rough real estate start welcome to the first ever Financial audit from meet Kevin we've got Phil here thank you so much for joining us we're going talk a lot about you and your situation very excited about that this is the first time we're actually doing this so I'm a licensed financial adviser for the purposes of this video this video will be Financial advice it will be actual Financial advice solely from me with two additional commentaries here from Mike and McKay Mikey we prefer Mikey uh but anyway welcome aboard thank you so much Phil for coming out here tell us about yourself what are your goals man where do we start yeah thanks for having me um so my name is Phil um I'm a registered nurse in Columbus Ohio go bu guys um I make about 110 to 130k a year um as a registered nurse and I am a brand new real estate agent agent as well um just got my license in June um I'm a five course member of yours truly oh my gosh well thank you so much I think you you had brought your badge too that you came to the New York Stock Exchange that's amazing thank you so much for that by the way mean he's in the profit portal so he gets access to all of the yeah look at that that is so cool so I'm glad glad to to be able to break down your uh situation how much do you work a week I mean you're in your scrubs now it's it's like I just got off work man coming over you got a grind got to grind um it varies honestly um as an RN I probably put in like 30 to 40 hours a week um but it's only because I'm trying to expand other avenues okay um so I could ramp that up to like 50 60 70 hour weeks um I make right now I'm manipulating kind of the crap out of the hospital um and I make like 105 110 an hour oh my gosh that's awesome right so I mean we can deep or dive deeper into that here in a minute um but right now I'm trying to scale up uh my real estate portfolio um I currently own a condo and a duplex um I guess to give a little bit more of a background about me I started investing in apple when the iPhone first came out and I just threw every penny in there and I became an investing addict um during uh undergrad I graduated pretty much without any debt I was fortunate enough to have some uh financial assistance from my parents um but after that I was only making like 33 Grand a year um from ages we'll call it 21 to 26 um during that time period I actually lived in a frat house I lived there for free because I needed a house Dad um so oh yeah like see I mean like what other what give me any responsibility I just want to live here for free I think it's great right so when I went to a grad school um I went to the nursing route um I basically lived there for free um and you know that's something for anybody else out there trying to think of like cheaper ways to save on housing um look into student organizations that that need a live in advisor um and you can save some money there so um after nursing school I um started working as a nurse my mom got cancer um we thought she was going to die there for a second but we're all good there in fact tomorrow is her um 5year anniversary of surgery so cancer-free awesome right that's really good yeah wasn't it the odds of remission declined over time yes dramatically so uh but because of that we thought we thought she was going to die um so we put her condo in my name because her cancer diagnosis occurred literally in the transition of her moving from Chicago to Columbus so I technically own her house she gifted me the uh mortgage payment uh or excuse me the down payment um and we just put the mortgage and everything in my name because we assumed that she was going to pass so rather than have the the hairiness of it all of probate and all that stuff so we put it in my name thankfully she's still alive so like great news there awesome um so but that kind of leads to one of the questions I have for you is um and we can go a little bit further into that as well um I have a duplex um it is I'm house hacking got some grant money um everything's working out good there but technically my mom is gifting me the mortgage every month um from tax because she's renting the condo essentially correct um so she's not paying me rent but rather she's gifting me the money and according to my accountant that's like the most tax efficient way doing things because you don't have to clear it as income or anything along those lines um so one of the big questions I have for you guys and like I said we can go into that a little bit further is um I'm trying to grow my real estate portfolio but I do have her condo kind of weighing me down from a debt to income perspective because because you're getting a gift you're not getting income there's a double-edged sword of that you don't pay taxes you don't get to call it income right right right uh Good Old Uncle Sam trying to take his cut you know so um but yeah uh when I bought the duplex I um um used Grant funds um I want to ask you about that tell just even for the audience I think this is very interesting tell me about these Grant funds because people forget that there's free money available to buy places you bought a duplex using grant money yes tell us about that um so um my employer um had this down payment assistance program where if you bought within a certain vicinity of the hospital um they would Grant you money towards the down payment of your house it was up to 15,000 so I maxed that out um which was really nice because it served as 5% um of the total acquisition of the property so then I only had to come up with 10% um I just heard Fanny and Freddy adjust the duplex down payment requirements from 15 down to five but when I bought it it was 15 so um I had to come up with the other 10% in which case I utilized my Roth um I had a lot of profits in my Roth used 10K um as well as um the contributions that I made throughout the years so between out taxfree great yep um so but yeah the grant money I got for my employer so I mean there's definitely programs out there for um people who have like a W2 type of situation sometimes the employer provides grant money but also um as I've done a little bit more research um I know in Ohio um there's grant money for nurses and doctors it's called grant for grads um but there are just tons of like you could Google um grant money and I would I would encourage and you could certainly give your you know input on that if is like anything that would apply to you whether like new grad Google that nurse graduate uh nurse Google that doctor you know that's a that's a great suggestion I mean not only Googling that but then throw your county in there right hey Ventura County down payment assistant or whatever County you're in or nursing down payment assistance doctor whatever it might be student uh I think that's a great suggestion for individuals and it's great you took advantage of that maybe our boss can do that like if if you buy you know within a mile or whatever that be cool we should we should do that that's a really good idea it gets everyone close yeah that's the other see that's actually brilliant yeah so now when the hospital wants to uh hey you got time to pick up another shift or whatever you're only a minute away you right yeah um brilliant and with the shift work it's it's you know they're so desperate for work right now that it's literally I could go in is it still that way is it still so high demand has it gotten better it is it's still high demand is it Peak demand I wouldn't say that um and to be honest with you hospitals have begun to like shut down so because we don't have enough staff um they've begun to cut the qual like you know quantity versus quantity um so they've decided to kind of close hospital rooms and ultimately the people that suffer there are the sick people well yeah of course you know well it's longer weights I mean three four five six day weights in the ER um are you serious yesun I've seen no it's it's a mess yeah it's a total mess you got to go somewhere else then you got to get somewhere else and like I don't want to tell you which employer I work at but you can deduce yeah but uh we are the best hospital in Columbus and so even if you've got like a three-day weit at our place two day weight at our place where are you going yeah interesting are Urgent Cares the same way uh to be honest with you I'm not sure um I don't have access to that kind of like waiting room data um so I would definitely encourage people that if they could like you know PSA if you can go to an urgent center go there uh because the hospitals are pretty full wow that's wild that is wild so okay now one of the things you mentioned is expand other avenues is that your real estate agent goal tell me about that a little bit where did that come from just because you're house hacking now or sure um so I I bought my duplex um right before the pandemic uh there job thank you I got lucky um there was a wedge deal component I probably made like 20 30k of initial Equity so nothing crazy but still like 10% plus plus the down payment assistance program and right so that's also part of the wedge I free money and you could any resale restrictions on this well yes um technically I have to live there for five years but then it's a 0% if whatever component I don't live is a 0% interest loan you're three years into it four four yeah look at that because you bought it even before okay you're almost done that's great okay so so um you know that's that's kind of cool um and then I took advantage of the eidl that's actually where I found you wow was April of 2020 cuz you were putting out you know like stimulus package uh videos left and right and um those were the videos I was just like well what can I take advantage of exactly and I'm not going to lie as a healthcare worker during the pandemic I thought they were going to throw us a little extra nothing ever kind of can the hero's pay was supposed to come never did in which case I've got my own conspiracy as far as why that uh we can perhaps go down to some hot takes but if you guys want yeah um but um but yeah so um and then I took mortgage forbearance as well um also kudos to you so thank you for that so um so yeah so I knew that I was going to grow my real estate Port portfolio at some point so I figured well I could get my real estate agents license on the side um the position that I'm in now is I have access to like a thousand nurses and doctors um and the um I'm kind of known now as the finance real estate Enthusiast within the hospital so retirement planning all that stuff # notot Financial advice um like I've I've you know I've got an economics degree as well um so people kind of know me as the real estate and financial whiz so I have access to those thousand nurses and doctors so I was wondering if perhaps what do you guys think if I should kind of put my nursing career kind of on the back burner and accelerate my real estate agent keeping in mind that I make like 105 an hour um you know it's it's not a bad situation there um or do you think I should just kind of refer it out um how long have you had your license so far June so okay so you just got your your license so congratulations you got a license in the worst possible time ever cheers now the good news is if you can sell during this kind of time when we get to that next Bull cycle you'll be breaking in the dough yeah this is this is a very difficult time so uh in in a situation like this uh as actual Financial advice I would be there's no way I would walk away from what you're making this $10 $130,000 a year in this environment sure uh we have no idea how long this real estate bleed lasts the beautiful thing is you're working 30 40 hours a week man right do you have kids no okay so and I want to be clear for the viewer I don't know anything about Phil other than what he's telling you in this video so I want to be clear I haven't gone through anything from you on purpose because I want to ask the questions here and hear you to answer them so uh you're working 34 4 hours a week you don't have kids uh are you in a relationship yes okay uh how long uh 4 and a qu years okay okay so it's you're probably past the initial like honeymoon phase right good okay great when and what is uh what does the uh the other person do uh Natalie she is in marketing um she was in real estate marketing ironically oh um coincidentally work from home then um now she works for marketing for like pharmaceutical um um like pharmaceutical style mark marketing uh with new drugs or whatever sort of it was it's more to like get in front of the uh like Physicians eyes or healthare providers how how do you close that appointment with a physician right so ironically apparently I think I'm on a couple of her lists cuz she'll like can look through like marketing targets so it's kind of ironic that is yeah that's awesome okay got it so how many hours work a week is she working uh she's got to work from home type of situation um 30 40 yeah also about the same 50 for yeah yeah for whoever's watching 50 60 otherwise 20 yeah okay good so I I mean you have free time the beautiful thing is you could do both yeah there's no reason you can't hustle in real estate without having to give up that art personally I would look at um uh it depends on on how you're feeling but you could pick up these extra shifts and probably get to 45 50 hours at I it's it's this lovely situation where I could put uh yeah you the luxury yeah yeah I have a question in terms of your ceiling as a nurse do you think this is the most income you can make as a nurse or is there is there more certifications or more things that you can do because the threshold from going from zero to 100K in real estate will be a lot harder than going I don't know the nursing route but getting a little bit of extra income as being a nurse like what's the limit in terms of being a nurse um I am pretty much like maxed out on all the shirts um the um at this point it's really just a you put the time in you get the paycheck I mean I know and I'm not exaggerating I know guy who cleared 500k as a nurse now granted he anesthesiology no no no just as a floor nurse W how just killed himself with hours Bingo there's no way though I mean but if you're working 40 hours and you're making 110 even at overtime there's no way you're getting to 500 unless you're I mean he was doing like 5 six s 12 a week sometimes even 16s which is the legal limit you're you're allowed to do 16 hour days in the healthcare world I'm sure the care is like really high quality you know at the yeah Caff consumption alltime high in what other like benefits do you get as an RN um well like I said I'm I'm making like 105 one 10 an hour um I've basically completely forgone all medical benefits like I'm I'm purely a mercenary at the hospital are you a contractor then no um I still technically yes um although technically my uh so I'm only required to work 16 hours a month right um and it's called PRN or as needed in the medical world um so I'm only required to work 16 hours a month now I'm also not guaranteed anything so if there is a dry spell like let's say they hire a bunch of travel nurses which is kind of where we are right now the hospital that I work at has brought in a decent amount of travel nurses but that's got to be more expensive for them uh probably similar similar pay um I I make more than a travel nurse a lot of travel nurses don't think like that like they they think travel nursing makes the most yeah yeah yeah that's the impression that people have it is but being in uh perhaps it's just my hospital that kind of uh made a little oopsy doopsy as far as calcul what should we pay our internal staff um but perhaps I don't know the contract's in place for another two years though so um I've got this what I like to call desperate pay um at my disposal for the next year and a half two years um so um but yeah I completely like I don't get medical benefits I don't get anything I I do get like a 401k match type of situation like 3% or something uh actually it's it's this here's another hint if anybody knows the Ohio well um I have to put put 10% in and then it gets matched to 12% oh that's great um so it's a 1012 match that's great um and I opted out of the pension for an alternative retirement plan of like a 401k kind of thing okay um so yeah I don't really get anything I just get pure cash now what happens after this one and a half years is it contract renewal where your your pay might go down substantially or what what happens yeah yeah so um this uh incentive pay is the technical term for it um that is through the summer of 25 um which basically says if you work above your contracted hours you get an additional $40 an hour w at Peak it was an additional $70 an hour wow um so what I said is is like well I demand to be demoted then um so I got demoted down to 16 hours a month which is minimum hours yeah and now you get the bonus on more hours right every every hour I work above 16 is getting paid out and and that's why you said you manipulated the G you I mean you just did what was smart here's here are the options what do you want to say how do you want to play it go and then on top of that you get overtime time and a half weekends all that stuff that makes sense so um it essentially at Peak it was like three and a half Xing your income um by demoting yourself um now it's closer to like two and a half um so after this time period um I would be down to I would like I don't think that they're going to get rid of this program just because of supply and demand um there's such a labor shortage in healthcare um so afterwards let's say they do get rid of that um then I'm probably looking at a standard RN salary which in Columbus Ohio you're probably talking like 80 to 100 yeah okay all right so the the risk is is maybe that extra 20 30% basically yeah what uh I mean do you like what you do do you like this are you over it or are you exhaust both yeah I mean burnout it's it's uh being a nurse is awesome right but at the same time you do kind of open yourself up um and it can kind of wear you down a little bit stress you out um so um yeah it's it's not that I like dislike what I do um but it's also one of those things where it's like I definitely don't think I could do this for the next 40 years yeah and that's fair yeah well the nice thing is you you probably wouldn't have to because I like where you're going with this idea of you know your econ background and real estate agent uh the the way to do that though like the time to transition I think is when you're in that up swing Market that bull cycle where you know you start start getting those clients now maybe you do open houses it's fun it's exciting you also at the same time you keep building your portfolio hey if you can get your hands on to another property great uh now you're not only the guy who's talking about it but you're actually doing it which is great that's and then tell all the people you're working with oh I'm closing on this other property you know look look at the before and afters whatever hey I want to do that too you know it's almost like you're marketing by doing it right or talk about it at open houses that's what I used to do I'd have an open house uh when I was a new agent I'd put up like before and after pictures yeah people like oh what's that they like oh I'm glad you asked right you know right so uh the cool thing is you can play as you say the pedal game now maybe you do two shifts you working 24 hours what are you on tws well that's fours I pick I can basically four hour shift think of it Legos you know I could stack as many four-hour blocks as I want in a given day up to 16 which is the legal limit okay why would you ever do a four I mean just getting getting into that mindset like you may as well do the a know it's called the princess shift um so uh you basically just get in you kind of do your thing and you get out it's real quick sometimes um that's all that's available right like so you get what you you know that makes sense so take what you can get kind of thing okay right um and the only reason why I've probably been doing 30 to 40 hours is because I've been getting my real estate license I've been getting affiliated with Keller Williams um kind of onboarding there like I said historically I probably do to like 50 or 40 to 50 hours um and so that's where the it takes time to get set up that's awesome Okay so so you're setting up the side hustle you got licensed in June so that means now you're you probably have your business cards you've got things already okay all right that's exciting yeah absolutely and uh you've got so you have a tenant that you're also house hacking with what's the scoop with the tenant do you you manage the property I'm guessing yes okay and then your mom is living in the property where she's gifting you the mortgage correct the condo all right so what about uh this um your your debt to income then so what's your payment on the condo sure the condo um is 1070 a month okay um there is an HOA of like 250 to 300 but she's my mom's been paying that like she's kind of just taking care of that okay so my the uh my portion of the mortgage is $170 that's principal and interest correct and insurance and insurance okay got it and what about property taxes uh that's built in there built in that's your P got it okay great and then so uh what What's that worth if you were to rent it out that's 1320 total you know plus some pairs a couple hundred bucks here or whatever yeah so if I if it was like a non family member right right right um you're probably talking like 23 oh wow 100 a month oh that's great well it totally makes sense then for your mom to be uh uh renting this uh for for gifting you the payment in other words right and like I said like it it was hers it made totally make sense what about your second unit in the duplex and what's your payment on the duplex sure so for the entire building it's uh 1911 a month um mortgage payment is and that's Piti um they are paying 1750 a month wow um very good yeah and I mean there is uh so it was a wedge on multiple fronts um it was a wedge in that the renter the previous owner actually lived out in California um and he was renting it from afar so he had no idea what happening what was happening in the market right and I noticed I've lived in this area for the last 12 years right and you've got What's called the short North which is where like the bars restaurants is and then you got campus right and then the piece of land in between like the mile long used to be a little uh um sketch lack of better words and so just over time these uh land masses kind of like grew together right so I bought like right in the middle because because I lived there for so long I saw the merging of the two uh um you saw the progression you knew what was going on and you felt comfortable living there yeah yeah so um so that's where that's where I bought that and why I bought that um so it was under uh the rents were under rented um and the side that I ended up living on literally the kitchen cabinets were like falling off the wall like there was definitely some uh little love that needed to be thrown into it um so plus the down payment assistance and all that other stuff so for me it was a good deal all the way around um but anyway they rent from me from 1750 mortgage is 1900 my site's a little bit nicer than theirs just because I've lived in it had some more time to it um so so the entire building would probably rent for like 3637 with a mortgage of 19 um I've also um hardwired the wifi into it um so that way R some ethernet and that yeah right right um I live on the one side so YouTube TV I buy it and I share it with them so that's a tax wrof too because well have that's part of the living here there you go so service provided by the building exactly right so okay so now your tax returns the last two years what have you declared as as your adjusted gross income that um I let me see I've got my tax filings with me okay uh okay so we just took a quick little pause and we just took a glance at your 2021 22 tax returns in uh 21 it looked like you had uh income from wages salaries tips basically your job 76k 90k uh in uh 22 here the uh downside that you have is that the payments that you're making on these two properties bed is about 38,700 bucks a year okay and on top of that you're getting about ,750 in rent so you're getting about 21k back but you're going to get diluted on that we'll run some numbers here so uh you mentioned that you right now you can make 110 to 130 per year is that just the difference of hours no no no I do make the um I I wonder if it's because of like depreciation um right off cuz the the duplex it required me to put in uh like 50k worth of Renovations and stuff like that so um that would impact the AGI would it not yeah it so I was just looking here let me see 22 let me look at it here so on 22 I have let's see here total amount from your W2 of the 91,000 and then you have the rental loss essentially of the 11,000 that's where you're going to get your depreciation your mortgage interest deduction and all that that comes from your schedule e uh and then in the 20 one filing your wages uh before your adjusted gross income it's just number one it's page three on your 2021 for example uh it shows your W2 at 766 so those those are probably where if you've gone to a lender and you've said imagine you've gone to a lender and you've said hey like I uh uh I want to qualify for rental or whatever they're going to look at those two numbers and in your case uh you have an increasing number which is great uh they could take that 81,000 and that's 76,000 uh and uh because you're W2 they're not even going to average these out they're just going to go okay well it's increasing let's assume you can keep doing that if your pay stubs are reflecting that they're going to say you've got $91,000 of income so $91,000 of income to be able to qualify uh with with all your other debts probably going to be no more than about a 45% debt to income ratio yeah which uh gets you to payments of up to about 41,000 41,000 uh is is what your able to make payments on and you've got total payments already of about 38,700 offset by that additional rent right sure so the additional rent if we add that in let's throw in 21,000 give me one sec we'll do some quick math on that that additional rent coming from my mom or the half of my my half of the duplex of$ your half of the duplex so your mom's uh payment to you is zero you're not getting any of that correct so now we're looking at you've got maybe qualifying income that'll get you to a 45 perish debt to income ratio of about 50,000 bucks yeah so that's only leaving you the ability to qualify for about ,000 a month okay so the only way to really qualify for something in with with the numbers here is if it was a th000 bucks a month or it was like really cash flowing right you know but you could buy anything if it's really cash flowing but today with a loan Nothing Cash flowing at 8% right so and that's because everybody expects rates are going to come down and the market will go back up and whatever whatever and what what I uh let me interject real quick um there was a substantial uh pay raise um at the end of 21 which is why there right right so that's how you got that 76 oh that's perfect and and um I'll be honest at there was a a time period where they like I said lowered the pay from 70 an extra 70 an hour down to 40 yeah so I took like a three-month sabatical hell yeah and that's when I started working on my real estate agent license and I'm like all right well if you're going to take away my money I'm going to take away my labor and I'm then going to start building alternative things and that's see it like probably the the 110 to 130 is if that's all you're doing is at 40 hours a week it's no time off but that's not a fun life anyway right sure sure and I mean I was just off for the last three months and and and that's exactly because you're getting a real estate license you're starting another business here and all of that's fine uh the question now is how do we make it easier to qualify right for another deal uh and that's the challenge so the easiest way and the where where you're going to get the most Leverage is if you can move again right what about uh cash what kind of cash do you have and other Investments do you have sure um so just to give some quick stats um net worth is like 650 nice um I've got about 550 in the stock market okay oh that's really good wow so most of it is actually in the stock market well I mean there's uh like I've got student loans um so got you okay I've got about 550 in the stock market those are grad school ones because you graduated one of them Deb free correct got it um and actually I um oh we won't go into that oh no um in my retirement accounts I've got about 275 um in non-retirement I've got 268 margin debt I've got minus 87K at 7.25 good old M1 Finance they make it too easy right and uh I've got hel lock debt at- 98 okay at 8.81 and student loans at minus 44 at 3.4 with the monthly of uh 315 are you already making that payment on the student loan oh yeah it's private um okay yeah so you didn't have the forbearance as long anyway no so if I sold everything um and paid off my margin paid off my he helck kept my student loans if I did all of that I'd have 83 grand in cash plus 98,000 HELOC Equity or a credit line that I could tap into if Poss right exactly wow so the the question right now is maybe what is the rush for you in your situation to buy something right now sure so uh Columbus Ohio has that Intel plant um I I know we've talked you want to speculate on Intel well a little bit um it's uh a 20 billion plant um Google and Amazon are thrown in um a couple plants in that area as well I've got um some photos if we want to check out a map let see it I have I have the maps that you drew on right here if you want those sure um so let's do the seabus uh OSU and Intel got that um so all right the let's see go put that up on screen if we can there Christian there we go all right so the blue dot is generally where I live okay uh always chose the red circle that's like Airbnb where you're like oh it's going to be generally where this dot is right right right right and Intel is going up in that corner right just underneath Intel in fact if we wanted to open up the seabus future developments okay so let's tab away there for a sec Christian there we go cbus future the ABCDE no no we could do that third oh there it is there it is okay nice forgive my drawing skills oh that's great all right so um Columbus is obviously the dead center um the red line is a rumored outer belt highway system the blue line is a rumored highd speeed to highspeed rail to Chicago um and then everything in Black is approved already in the works right so Intel is going in that top right corner Amazon's underneath it Google is underneath that hence the need for that rumored outer belt um and then Honda is building a $4 billion EV battery plant down where it is written so that's just to kind of give a little layout of Columbus it's growing like wild fire it's expected to double in the next 20 to 30 years its population um so that's one of the reasons is Intel is supposed to kind of get done um in the next couple years building that chip Fab um so I kind of want to get in sooner rather than later because I do fear that everybody of Our Generation basically went to college and I feel like there's a lack of Tradesmen so I'm concerned that the supply of housing just is the supply and demand ratio is the demand's going to shoot up because of all this development the Supply is tight because well Supply is tight everywhere um so that's one of the reasons why I want to get in sooner rather than later as far as the last map that I had drawn um we could Deep dive into that a little bit more if you wanted it's a little bit more zoomed in um but it's basically a rough uh ABD rating of the neighborhoods so to speak yeah my personal interpretation throw that one up there question um I mean I like that I do the same thing too it's great so not to be confused with the class in commercial real estate where it's based on age this is based on where do you not want to go to do a Craigslist transaction at night correct correct so um the uh orange star is the Intel plant okay um the two red dots are basically like the main shopping districts um and the yellow highlights is either Ohio State or downtown downtown has all the sports facilities so like any sort of NHL game or anything like that any concerts Taylor Swift whatever um is going in the yellow zones so as far as the letter scheme um anything in yellow has uh good schools anything with um the green text is less favorable schools but there are some and s's the super fancy so s is highest uh f is lowest um but yeah so if it's got green lettering is probably not got the best schools so if you're in an S green you're probably doing private schools um if you're in an a yellow the public schools are great um so that's how to kind of read my drawing nice nice that's awesome now one of the reasons you're uh a little anxious is because of population growth so you had mentioned what it's expected to double in Columbus yeah the next 20 to 30 years 20 so over the last 20 years in Columbus it's gone up about 35% so is there is it because of this this rail that you had suggested or or what what's their reason for that that kind of doubling Chris we can pull off that one thank you for that um so Columbus is kind of like the city in Ohio I'm from Cleveland originally and love it but it is a it's Cleveland okay um you know since is that where you were from where you went to school Christian Dayton Dayton Dayton okay where's that uh southwest corner of uh Ohio gota um and with no no offense to Dayton either uh he he doesn't like Dayton yeah uh Dayton you know akan you don't like it either right okay yeah s it Cincinnati um but that one too um like there Ohio state is a massive pull um I mean we're pulling in 20 young people on an annual b or 20,000 young people on an annual basis maybe it's not quite that much but it's there's a lot of young talent coming to Ohio excuse me Columbus um there's a lot of headquarters there Limited Brands everan fit um JP Morgan's got a regional campus so there's just a lot of of people um or a lot of businesses that kind of draw that kind of attention attention um and like I said Amazon Google Now intel they're they're throwing a lot of money into the Columbus area so I don't know if other cities like to brag about their Investments and and kind of status but um there's it's called like the silicone Heartland or something and there's this expectation that Columbus is going to be kind of really bumping and uh what what fears do you have about the real estate market over the next few years so the obviously we have the interest rates skyrocketing um and that's going to put a real crimp on demand um whether the influx of Supply is there or not I don't really know um so that's my kind of like biggest fears um I guess there is an I don't want to say a fomo element to what I'm doing but I there is um I want to get in sooner rather than later um because like I said Intel and all these other companies in addition um Ohio state is building a brand new hospital um and so like there's 's going to be more jobs coming in and and uh all that other stuff so okay so you you like it there you're not planning on leaving anytime soon I mean I could be persuaded okay you got a job there you go that's awesome so uh well that's you know going back to job that's actually what what I wanted to hit on because right now you've got you know outside the real estate Dad do you have car Dad no okay I drive a a beater good for you so you've got $229,000 in other debt though that's HELOC student loan margin uh and uh right now you are making you know we it probably take about two and a half years if you took every penny of your income and no taxes to to pay that off uh if you only used your actual income as opposed to rating your retirement account which is about 268 which you could use like you said the retirement is 275 the non-retirement IS 268 if I if I sold all of my positions I would be left with 83 cash no debt with the ex of the student loans and um 98k of helck available right so the question then is what do you let's say theoretically you even did that you you liquidated this 268 to get rid of the 229 in debt uh even in that scenario you are still in a situation where your debt to income is not going to let you qualify because I didn't even consider well first of all your margin debt is not going to show up in your DTI but the HELOC debt will unless you included that in the total monthly payments you gave me I did not but the idea would be that I would wipe right that but even if YouRock and your student loan were paid off which both of those are hitting you on your debt to income I still am only getting to being able to basically afford a th000 bucks a month okay so the way to now the flip side is you're going to be able to move out of that duplex right so you can move out of that duplex and now you have that rental income coming from the other side correct that's going to get whittel down maybe that's going to bump you up to where you can qualify for say $2,000 a month maybe you can squeeze it and buy something like in that scenar Ario right 2,000 bucks a month what can you buy what how much you want to spend on a place I mean I'm totally okay with dropping 5 six 700 on like a single family and I understand like not with 2,000 bucks right right right I get that now real quick that 2000 is that assuming that we keep my mom's condo as a gift yes okay so if we converted that to a rental um and that is one of the questions where's she G to go no no no no I'm saying this is I guess one of the questions I have is keep my mom in the house turn it into a rental and then my mom's the tenant right now I wouldn't obviously evict her or along those lines but from a um like renting like to get that money on my income um is that a thing is that possible of course yeah I mean you could just when you receive it you just declare it as rental income right but I don't imagine you're going to ask your mom to pay Market rent so even if this boosts your qualifying ability to the tune of 600 bucks a month now it puts you about 2600 bucks a month right yeah so 2600 bucks a month I mean you're going to be what is that even going to get you a $400,000 place a loan right now a $400,000 loan is going to get you a $3,000 a month payment uh at the rates where they are now right sure the point of where I'm going with this is I think you actually have a really interesting opportunity and and you have an ambition around real estate but uh one of the things that you can do is leverage your enthusiasm for Real Estate now get as many clients as you can and let's get you that extra income first if we can while you're milking this RN Job why don't we start taking every commission check and every Commission check you're loing it off on your debt right away right start with your helck cuz the cool thing about paying off your helck right away is you could pull it right back out you know you pay same thing with your margin debt actually whichever you know whichever one gives you the flexibility or the higher I think the higher interest rate was actually your helck and you could always move from your helck into your margin quickly for whatever reason you needed to uh you know usually margin's pretty scary but you've got you've got plenty of funds here are these both at the same uh broker the retirement account the non retirement accounts um no there's a it's a little bit either way there's plenty of time to to move funds around and and I don't think you're knocking on the door of a margin call what what are the underlying positions in the non-retirement account good old Tesla okay oh well that is volatile but honestly even if even if that went half I mean I I my portfolio um would have to drop uh currently that portfolio is about 200k or excuse me that account is 200k it would have to drop an additional 65k before a margin call gets triggered uh earnings are tomorrow right earnings up baby turn your phone off tomorrow right actually what happened I the where the HELOC de came from was back in uh August through January I basically pulled Equity out of my duplex and I just DCA 25k a month um on red days where it was like severely red from August to January I just well that's great because your basis on those trades was probably like 150 or something like that right right and so that's another thing is is I'm I'm intentionally waiting because my oneye cap gains line is coming up in two three months so um yeah I would I would say h what excites me a lot is your motivation for real estate and I'd say let's start like squeezing that lemon okay now it's a very hard time to do that because it's hard to find people to buy the people who are able to buy and willing to buy right now have larger incomes you happen to be around a lot of those people though doctors and anesthesiologist nurses the other thing that you can do at the same time and I wanted to ask this earlier but I forgot is can you come an anesthesiologist nurse and probably triple your income right so there is um here's another fun fact for anybody interested looking to get into the healthcare World specifically the nursing side of things um the money's at the bedside um because for just to be honest it's it's the trenches you know so nobody wants to be in the trenches right so supply and demand of like well believe it or not I make a lot more than my managers do and like the director position like the the money's at the bedside yeah um now as far as CRNA school um that would probably take two to three years um and they do make good money they make the high hundreds um maybe low 200s as far as a CRNA um but the problem with that is you're looking at tuition uh you're probably talking 100 Grand at tuition wow um and there's the opportunity cost of every hour you are a student is one and less hour I'm a nurse yep right and so like I said with 105 110 an hour right now I'm only doing like 30 to 40 hours a week yeah um but like I could put that pedal to that metal so I could out earn a CRNA um granted that is the short term like I don't know how long that that bacon is going to be there you know you want have children in the future too yeah yeah so I'm I'm I'm hoping to kind of grow the real estate portfolio a little bit while like so right now the money's good right um and I'm trying to leverage my situation where I'm kind of manipulating the hospital a little bit um to kind of benefit from the fact that I've had this these higher earnings yeah use that to qualify for more real estate than perhaps I would have otherwise is that a little risky yeah sure but well I don't actually think it would be risky for you to take that advantage and put the pedal to the metal and and take as much money as you can especially while you're under this higher contract because the next 18 months you are probably going to go through a pretty rough real estate start it's going to be very very difficult and that's not to demotivate you it's just that like I said if you can if you can even get one or two deals done and you take that money and pay off you know some of the loans or whatever that's just going to open up your doors to being able to qualify and get into a good deal and I don't anticipate the real estate market at least from what I'm seeing is going to run away from you sure I think you've got a couple years here to do some good buying you know we feel that way with house Haack as well we we don't want to say no to opportunities but we're a little more aggressive now where we're hey you know an opportunity comes up our offers are a little lower just because of what we're seeing in in in the Market at this time there's a little bit more risk now the nice thing about that is it gives you time and how old are you 33 33 so so right now you have the luxury of time and uh when do you H have children ideally uh oh whenever it happens okay all right so you have this luxury of time right now where where you don't have children where you could throw in uh essentially what you would be doing is working two jobs right you're working the real estate job to try to get clients which the best way to do that you know you're doing the open hous you're getting yourself out there you're talking to people at your work it's kind of like you're working the same job twice right one's one's marketing the other one's uh and and see what you can do in real estate because the there is also the the downside risk of okay well if if we don't sell anything in real estate and then your contract goes away you don't want to be in a place where you've got now even more debt because you got into another property and then what if it's something to think about what if real estate prices go down 3% this year 3% next year 3% next year and you have that bleed sure now it's like crap now so I don't know that I want to set you up in this place where in you know three years four years you're be like crap now I haven't paid down any of this debt but I have another place next to Intel and I'm upside down on it you know what I mean so uh I the other thing that makes me a little nervous is you did mention that some of these projects the highway the highspeed rail they rumored projects right don't bet on the government right never bet on the government it ain't coming ain't coming just like just like the healthcare extra pay the uh the heroes act I think there was the heroes and then the uh I know there were so many of the Nancy Pelosi plans yeah so uh okay so I like the idea of uh where you are I I let me clarify this I don't love the idea of taking your stocks M and uh and dumping them to pay off your debts I would much prefer you have that sort of anchored like don't even think about where those capital gains are just just let it sit let that be like your safety net now just work your butt off and pay off those debts okay and uh when you get closer you could always you know talk to a lender about this to see see the ACT actual detail but when you get closer you could always switch your mom to okay now I'm calling this rent right as opposed to a gift because that is just about the gift limit $113,000 or so for the year so you guys have that perfectly worked out right it's not not a uh not an accident that that that worked out that way yeah yeah so uh now uh the other thing is when you move I suspect you're living in a duplex now what is it like a two in one uh two one and a half yeah so uh you you and your uh girlfriend then fiance girlfriend girlfriend I imagine you probably want to move into that5 $600,000 house you're talking about for you to live in right no it would be to be rental yeah eventually um and so um with that map of Columbus um one of the questions would be um even even though the Intel area is getting a massive investment and infusion of cash from all of these different firms yeah um I would like to live closer to Ohio State hint hint that's where I work I guess that's cats out of the bag there it makes sense to be close to where you work though um but it's also like an S it's a green s so bad kind of bad schools sure um but um the proximity to the hospital is insane um I already ride my bike to work it'd be nice to be even closer so I can stack those 4our blocks as much as I can but also and one of the things that I think I have a relative un theque perspective on is the state of the Health Care system like I said is not the greatest um I think travel nurses are really going to be I don't want to say over utilized but continue to be highly utilized don't tell me midterm rentals I well well uh there there is um to use Ohio State as an example um the um we are basically doubling the amount of rooms that we have m um it's a beautiful hospital it's going to be great um but we already could benefit by having more staff um and so we are already kind of tapped out on the ability that we can find home staff so we've got a lot of travel nurses coming in right and so if we with this new hospital the doubling of the rooms you're not going to see a doubling of the travel RNs it's going to be an exponential right because we've already got as many as many staff that's willing to stay has already stayed right so right now and I'm just creating a number out of thin air right now if heart staff is 20% Then what's going to happen is that we're not going we're not going to stay at 20% it's probably going to get 40% is travel staff or 50% is travel staff so I think there's going to be a higher demand for Real Estate close to the hospital for that reason but also if you're doubling the home staff let's just say now there's twice as many doctors and nurses that want to live close to work and stuff like that so I feel like what's the risk though of people saying I can make 50% more money moving to California and I'm done with Ohio I mean that's that's a real thing um the um in fact my little brother his his girlfriend's a nurse out here um so shout out to well I don't know if she wants to say so um to her right shout out to her um so um yeah I mean there's definitely the real possibility of that but um like with I guess with that if there is an exodus to say people from Ohio wanting to go to California that just then creates even more demand for travel nurses because if we're short staffed then the influx he's an econ major you got the stats on everything man you got the stats on everything I am a little concerned that um your your laser is a little like I need to focus it's yeah little I have an opinion but what what do you guys think what I think you're never wrong to double down on income especially when the DTI is already a little tight I mean that's kind of uh kind of where mindset my mindset is work as hard as you can increase the DTI because like Kev increase your income increase your income because Kevin's always like the real estate Market's not going anywhere there's always going to be an opportunity somewhere the wedge deals are never going to run out make as much money as you can not in our lifetime at least they're not going to run out yeah what about quick question what was your margin debt again uh 807k at rate yeah uh 725 725 yeah I mean I totally agree with mck like if if it was me I would definitely double down on work that's good income the the hours are they're there if you want to take them um you can only make better relationships with all the basically potential tenants over there and uh from what I've learned from Kevin doctors and nurses tend to pay their rent on time so that's definitely a safe bet there's no harm in doubling down in the hours right now especially since you don't have a family you don't have like all these other obligations like now is the time to grind it out at work and you can still do the real estate stuff on top of that and I think I think when you it's not like what we want to hear right it's like crap like I'm tired of my job but we want to turn this this like job into like your marketing opportunity for your real estate agent business right so you know every pillow gets a little business card slid under it well actually I I did think about that and I think it' be a little a smidge uh unethical from be careful no no no I'm joking about that you got to be careful about the marketing to the like the poor people who are like in a hospital getting help like oh look this person's in the ICU let me Trav need to sell your home quick if you if you have in your pocket no no no no don't even go there no no to to to your clients you know stay not to clients your coworkers exactly stay stay away from the clients so uh the my thinking though is the laser perspective for you is is you have an opportunity to do both you have an opportunity to make a lot of money at your job you have a lot an opportunity to do uh your to to become a real estate agent or at least try that and the real estate agent bis could absolutely take off for you right like let's say within the next year you're like Kevin I just closed my 10th deal I'm up a 100 grand I just haved my debt it's like okay now now we're start now you're on this path where you're not going to be a nurse for more than the next like 2 or 3 years right so I would make my number one laser focus being that real estate agent and at the same time what could I do to make sure I'm getting enough I'm putting enough work in at my orang shift I'm not saying no to too many shifts to where I'm still getting that income coming it so the way you balance that is I mean what's a real estate agent doing who doesn't have deals on Monday Tuesday Wednesday Thursday or Friday almost nothing if you don't have deals there's almost nothing going on during the week you get them on the weekend so take off for Broker tour during the week which might be a Wednesday Thursday or whatever meet the agents that's good dress up in the suit meet the agents you got your card shake hands smile great then do the open houses on the weekend so dedicate that time on the weekend 1 to 4 whatever you do in your area 12:00 to 3 do your open houses get your name out there uh then go have fun with your girlfriend you know Friday night Saturday night like you can still have a life sure you could run you could do both of these and have a really fun life make sure you don't skimp out on that though that's that's a big red flag is is when when people only work and they don't you know get to go have drinks or Diet Cokes in your case you know with their friends or family Kevin yeah coke with Kevin exactly right right of course so uh you can do this and I I I think you have the I think I believe the personality to to do sales you could do sales for sure well also Crush I've also thought about going into like pharmaceutical sales um dude the freaking laser Man it keeps getting thinner J Christ at that point I would forgo the RN life into the pharmaceutical sales life right I would not get rid of RN until you had another consistent income that was at least what you're making at as an RN if not more for example uh you know I I look at um when I was a college student I became a real estate agent and I'm like okay well you know will try doing real estate and uh my thought was well okay by the time I'm done with college I'm not making more than I could you know being a manager at like a restaurant or something like that then then maybe real estate isn't for me but by the time I was four years into real estate and I was making $150 $200,000 well why would I take a 50k job at a restaurant the same could be true for you in two or three years or four years you could be in a situation where you're like look I'm I'm making 200k from Real Estate Sales I'm killing it I own this place now well not only you're going to get some of the best deals but you're going to call us up and go Kevin we got some deals for house Haack out here you know and look there you got some CL look we can be a buyer for you man you know start sending us that's what I would do it start sending absolutely deals I was if I was listening to this and wanted another source of income I would start finding get a license and start finding deals for housec easy because we have a very easy outline for what we're looking for but I also think something that is useful is having that metric of you can work at if real estate right now is zero you're in come right now let's just easy say 100K you that's a metric that's like okay I just need to close x amount of deals to hit that 100K it's an easy measuring stick to like to motivate yourself and I think rather than just like an like random number it's like as soon as I do this then I can start to decrease my hours a little bit and you can start to kind of climb that that staircase down yeah that's awesome so uh now but okay I I just I wrote down some of the things you said just so you could hear it yourself there's Pharma sales there's midterm rentals There's real estate agent there's nursing there's being property manager and there's being a stock investor and then now you know on on the side you do the economist work who I learn it from Kev well you know I I I know I do a lot of things the the crazy thing for I mean for me is I'm I'm always trying to look at okay what's what's the laser right sure so uh and and that's something that maybe isn't so obvious from the outside but all of it uh points to to One mission for for what we're doing and YouTube is uh is is part of that sure uh so for our world it makes a lot of sense you know to to make videos and uh what we're doing with house Haack and other words it it all contributes to to One mission uh I don't know how much uh us worrying about um the you know some some of these other directions will do for us if we haven't fully explored one of them right and I would fully explore that real estate agent one okay I think you're really into that I mean maybe maybe you're not and tell me if I'm wrong it sounds to me like you really want to do this real estate business huh yeah I mean for sure um it's one of those things where um I think I would be good at it and I think I've got the drive and motivation and and work ethic to grind it out I did my Nursing degree in one year bachelor's degree yeah I mean it was not fun and um but we can if if you want we could talk about that as well um but the it's one of those things where it's like all right you know a bird in a hand is better than two in the bush or whatever the expression is where it's like hey I've got this $100 an hour gig right or not gig but job um you know and even though I do think potentially you know two 3 400 is not an un lofty goal to have in real estate sales it's like well I can do that right now as an RN right why don't you do that oh I I am but it's it's like right now I'm making like 110 to 130k a year for this year okay um and I took a couple months off me and my girlfriend we went down a central americ had a good time all that so um but it's one of those things where if I wanted to pedal to the medal on the RN I could right but I got my real estate license like I'm I am um diversifying careers if you will um and perhaps you're right maybe I do need to just laser in on on One Thing versus the other so because I think your goal as anybody's is is Building Wealth and so you have these you're like at the these starting lines for many different ways you can run the race the end of the race is the same it's how can you get your hands on more properties how can you buy you know one rental every 2 three years you're already convinced in that you know the path you know the path is let me I mean you did it last year let me DCA a Tesla stock or whatever well how can you build the assets that you have you're killing that you're doing a great job you're 33 you're in a great place you've got the even just the experience that you have from what you're doing with real estate this is fantastic with duplex and house hacking and and what you've gone through with with stocks now the question is how can we make sure that you don't reset right and and at the same time how can we get you reasonably into more properties the the thing that I want to make sure we we are very clear about is I don't think you're going to get a loan for a while right so I wouldn't even be worried about buying right now because if I couldn't get a loan what's the point I'm not going to get a hard money loan no way we just we were just outside we were just looking at a guy they bought a flip for like .79 and uh they listed it for they bought it in this in June they closed for it uh they put it on for like $8.99 and they just dropped at like over $100,000 uh their listing price and after their renovation cost they're going to be negative sure but I think what they're seeing is they're panicking because the winter is coming and they're probably on a hard money loan right you know with like a three-month term they're going to go bankrupt like no no no no so if there's no financing available and you're not paying cash there's there's no there's a restriction there you're anytime soon anyway even if as we ran the numbers even if you pay off this Deb M it doesn't change the debt to income numbers we did right even if you rent it out your your mom's place and considered that rent it's going to get you 22,000 to 2500 bucks a month worth of qualifying it's not going to get you what you're looking for at this point now you can qualify the rents on the next one to some degree 75% of it towards it so maybe we can play a game here maybe but are are we speculating then with 8 half% interest rates right is it better to say you know let's see if I can you you proved it to yourself and got your Nursing degree in a year I bet you a year from now you can prove it to yourself in real estate and nursing and if you really want to get into some more of these assets I wouldn't be surprised you can come back in a year and be like Kevin look look what I was able to do look at the numbers I was able to pull it's not easy right you know and and that's where you also have to make a choice like well what do you want to do do you want to keep grinding or if you're burned out like you were saying from ning right then you ask yourself okay well what's the rush then let's let's make money and put aside you know 25k a year Lop that off on the helck and the March there's no rush to pay the helck off you're not going to get called right you know that's going to amortise out over 20 years the student loan you got 44k left on that that'll go away over time all like there's there is literally no rush for you to do anything mhm from what I'm gathering I think you're just excited to do it yeah I mean I think I definitely agree that I think there's like a a time is of the time of time is of the essence component to it like I do try I am trying to get it done faster yeah um and that is one of the questions I I brought with me was is how can I Snowball the real estate collection if you will faster right um income right income the people who buy the most real estate have the most income it's so simple um so yeah um okay cool what what else am I missing here what am I not ask think your ambition is the problem I think you can do both got the ambition it's a laser get distracted man yeah I mean I I do the same thing I was like comeing to Kevin with like these small ideas like focus on what will help you the long term like the best trajectory and I think you brought the the answers here yourself was real estate and nursing and then just try to beat the game in real estate to get to where you are in nursing take both of those incomes and just go buy as many properties as you can for as long as you can have you ever done the the uh magnifying glass with the sun oh yeah I never have I was a pyromaniac as absolutely I just saw Jack doing that in the alley for the first time and he's like Dad look I'm making a fire I'm like what are you talking about I look and it was like catching fire I'm like this is great did I just see five fire extinguishers ordered on Amazon yeah exactly what are these commercial Great Fire EX triple checking you have homeowners insurance yeah like quick agent lower the deductibles we're about to get a new house oh gosh Jack is plotting against you or is he plotting for us him to do it LA's like Jack go play in the backyard with the magnifi go play with fire son we need a new house insurance agent that is not true that's just a joke but uh no it's it's interesting because that it just makes me think of uh of of that when you laser focus then then it then it's it's going to go it's going to go or you'll know it's either going to go or you'll know right you go laser focus hardcore on real estate this next year and it's a hard time to do it even if you close a deal between now and then it's probably actually great and you I mean send us good deals all the time you know it' be very interesting we we could look at your stuff too and and then if anything at the the very least you'd get is by sending us deals is you get the experience you know you're at an open house like hey I'm working with this this you know institutional buyer and these are their parameters you know maybe maybe you have slightly different parameters and I can help you he what like that's going to help you build some kind of clout when you're at the open house and meeting people talking to people you don't have a problem talking to people yeah and what am I missing well I well that that was one of the the the things that I was trying to uh juggle most was maybe I just got uh hung up on like my mom's situation it's like is that really anchoring down stuff like that um I I don't mind working I really don't you know like going out and and kind of Paving the way you know what I mean so it's I was curious to see what you guys' uh thoughts and and stuff like that was in the grand scheme of things I don't think that $3,000 gift will make the difference between how many properties you can acquire I think the biggest difference you can make is it's just by killing it in real estate it's $28,000 worth of income that's what that's what it's hitting you by okay so in case you're wondering it's 28k of income right so so you get then ask yourself like okay well I can make that up as an RN there's the answer and then you're still having your mom get like great deal and and you're building equity in it right right yeah I mean so um free Equity free property right right right so the the um is there a way um so we bought bought the condo for 185 it's now worth about 285 um I have not lived there so I can't capitalize on any like homeowner occupied uh tax right right sure um so is there a way that I could uh gift it back to her considering there's 100K 100K in equity is there any way that I could offload that back to her because like I said it's basically her money both is the down payment and what's the loan balance uh like 140 I mean you could just sell it to her for below low market value like whatever it was I don't I mean if you sold it to her for for 280 or what it's worth that I don't think she's going to go for that does she have income can she qualify uh now she does um I don't know if she could qualify um that would be the bigger problem I I I don't you know I think the the stress you're going to put on your mom for that 28k it's not even worth it for you right uh you that that counter you're going to get I I don't I don't know I I don't I I wouldn't touch that and you've got Equity there it's like if anything she would want it back without the equity so it's not like you're going to get the 100K out no no matter when she passes I mean let's be honest here we all have a a shot clock at that's going to exp at some point so whenever that happens it's going to be in my M anyway unless you sold it back to her correct well even then um I are you the only air no um but does she have a will uh not yet but that is that is on our all right first thing after this holographic will look it up in in Ohio if that's possible Right One okay that was actually one of the things I wanted to hit on is earlier you mentioned the reason she transferred to the property was to avoid probate she needs a trust man right right uh yeah no so so extremely long story short um I looked at her finances a few years back and I was just like hey you need to get out of Chicago you can't afford to be here anymore right um she was spending alone like 1,300 a month in HOAs just in h the condos right right it was insane so I'm like you can't do that anymore um you need to move back to somewhere else so she picked Columbus right and during that process literally we got in contract to sell out in Chicago 4 days later we got in contract to buy in Columbus 3 days later she was diagnosed with pancreatic cancer Lord granted it was a a misdiagnosis but uh and I don't know if you guys are aware but pancreatic cancer wor yeah you're looking at two to four month survival um so it's like my mom's going to die right so the options were you could stay in Chicago and she had crap Insurance out there or you can come to Columbus you're prove we can easily prove prove that you were moving prior to any sort of disease right and then we can cherry-pick the health insurance companies we can get the very best health insurance and get you into the very best Hospital right the James shout out um um so the that was why we put it in my name because she didn't have a job so we used my paycheck to qualify for the mortgage and since I kind of put myself out there my mom was just like well let's just put everything in your name got it got it um so that's where like the uh background is there so at the very least look up see if holographic Wills are legal in Ohio but that literally means she could take out a piece of paper right and just write down you know you get a third you get a third you get whatever it is right however many errors there are whatever she wants and just sign it right and scan that and have that that you should have like now right like in two hours you should have that okay everybody should have everybody watching this should have that it doesn't even matter how old you are everybody should have one not Financial advice yeah well it's just life advice yeah life advice yeah here you go so uh other than that it probably is a good idea for her to look into a trust right that takes a little bit more effort to set up okay so uh I I don't know that at this point it makes sense to because like we said either way either way you sliced it on that condo it's probably not a huge impact it it just it's yeah it's not going to make much of a difference at this point now again you can cont if you if you want to buy another rental in the future great you could put 25% down but where's that 25% down going to come from right now because if you do 25% down plus fix up on a 500K property you're going to be in at 175 now you're liquidating your stocks again and then are you doing that at 88.3% on the interest rates uh again the qualifying problem we got the other debt problem we didn't even figure in the other debt with the other debt you have right now there's no way right you would need to liquidate the stocks to have the down payment but you need to to liquidate the stocks to pay off the debt because otherwise you wouldn't qualify anyway just you need more money right now okay so so like the next like two years more money gotcha okay that's what our financial advice is going to end with every time you need more money is your girlfriend working to work uh more hours you said 30 to 40 can she do like 40 to 50 is that an option uh we've actually kind of talked about her like double dipping the uh work from home type of situation she's also a dance teacher um so uh cool she was a Cavs girl oh so that was that's cool good for you man right awesome she's a good dancer wow yeah that's amazing um but yeah so um she was thinking about that um but yeah I mean obviously there is that component as well yeah I I I did generally don't go there like asking guys to ask the lady to work more babe they asked exactly the harder you work now the harder you chill later that's right oh wow uh yeah okay so look I'm excited for you I think you've got you've got a lot of good fires lit yeah some of I I think some of the fires I would just like you know close the lid on for right now you could always open it again in the future like the medium-term rentals the if you wanted like pick either real estate or Pharma sales pick one of those right but make that decision and be done with it because the more you're in this Purgatory of well I could do this this this this this you're in analysis paralysis and you're not doing I'm frozen how many open houses have you held since June zero ex well to be fair I was out of the country for like two of those months so you chose to be gone to be and to be honest um this I have not announced to the world that I've got my real estate AG okay so link down below we're going to get your info and put it down below and my YouTube channel nurse Phil if anybody wants to learn how to manipulate your shift Bo see there you go you can learn that's great nurse phille I like that so um but uh yeah put um you ever thought about being a doctor uh yes Dr pH Dr Phil Dr Phil that's TR that was the school and that was the tradition the no that was the um that was the CR the anesthesiologist same thing probably I I at this point given my credentials I would be better off going the cnna route than the MD route um and to be honest with you unless you're going to be like a specialist like a cardiologist dermatologist something like that honestly you're more when they well that but also when they say like you shouldn't become a doctor for the money they mean it because you're bringing in 300 Grand of student loans I mean it's it's you're broke until you're like low 40s yeah yeah that's good point so they all buy a watch right away you need a Rolex like mandatory right right in a three series um and and how many hours a week is the CRNA school because yeah it is like two or three years it looks like I mean that would be like a full-time situation wow okay yeah like 40 50 60 hours a week high opportunity cost yeah exactly so that's where you you ask yourself then it's like am am I going to be able to make more with the real estate agent Direction because you might say in the future like oh this is hands down for me as being a real estate agent I'm going to make more than nursing I get to transition into housing and real estate and that or you might say it's not for me you know I had a client I hated it right and then you go you know what maybe I do want to be a CR and then you could do those two yeah ideally you do that before you have children yeah yeah you work the 80 hours and then you have kids and stuff like that's that's a fuse that's not going to last long and then you're miserable and then you know then there's divorce and all the stuff that happens it's just terrible those things are all bad so so Now's the Time to burn but you still have fun right there plenty of hours man but we just did the math the other day you could sleep 8 hours and have3 112 we literally just did the math on the way here cuz we were figured we might talk about yeah yeah 112 hours left you know so so you I mean obviously you need time to like like eat and and do stuff exactly get ready for the day but uh yeah man I I'm excited for you I bet in a year you're get well I know with certainty within a year if you start doing these open houses you really start putting yourself out there you'll know if you like real estate or not sure get out there and start talking to people that's a big deal at the same time get those shifts but uh real estate let's go like 25 like 2025 winter at the very least like yeah like that would be a good goal the earliest I would even think about it you know maybe you kill it over next year the earliest I would think about it next winter okay after the election okay you know when when everything's like cold and gloomy in Ohio that's when you strike okay and the benefit you'll actually have is you'll know how bad are these wars going to get how bad is is inflation truly transitory what's the fed's trajectory did something break and fall off a cliff or is it just like slowly coming down you'll know that by next winter and I I don't think Intel is going to get their crap together within the next year or the railway we've been waiting one for decades here in California one year is not going to make a difference use this next year to to really figure out your path your laser yeah CU right now you got two lasers can I get a third no no more lasers no more Las should I become a mortgage lender no yeah yeah yeah boy yeah um you know I I hated mortgages did you well because the only value ad that you have I shouldn't say that it's offensive to mortgage lenders but like the the biggest value ad is your rate in terms because people they there's no loyalty they just call you go what's your rate in terms uh okay well this guy's half a point Cheaper by you know and like this guy could be a scumbag and you could be the best salesp person ever makes no difference real estate agent people don't really care all the sellers are paying 2 and a half% 2 to 2 and a half% so the cost is the same basically unless you get you know a 1%er but that's rare like the discount agent not like the 1% like high income like like the opposite it's like the um anyway and then what the buyers don't care because the sellers paying so they love you they're like no I I don't I don't care about the other I I just want to work with you you know yeah it's a people business and you're you're a people person clearly try to be yeah yeah I and right now nobody's refinancing lending you know it's actually a great way to destroy client repeat clients as a real estate agent because you'll have a you get a client a great deal and you get a mortgage and then the underwriter you do the mortgage form as well people do that then the uh uh the client's like well you screwed me on the raid or whatever and then you lose them as a real estate client in the future yeah it's not worth it man make make the two and a half% as an agent versus the 1% as a lender is there any benefit um cuz you did it yourself right where you is there any like let's say I only was in interested in acquiring properties for myself I could be my own real estate agent and my own mortgage lend is there really a benefit there no zero I don't even think that's allowed I don't believe you can your own mortgage lender I don't think so uh but it's also been like 7 years since I took my nmls so and I let it expire because let's put it this way if that was a good deal I would have done it for myself and I didn't so there's probably something there on that no the only reason I got my nmls is because I could do um small hard money loans for people okay so I'd be like hey you should really paint this place and it's going to sell way faster so it basically made my life easier to sell their property so I'd L them 10 grand and I'd take a point well actually I take like 10 points on it uh I'd take you know a grand of an extra fee and so all of a sudden I'm making my commission plus a th000 bucks and interest on the time the loans outstanding they sell faster they sell for more money I make more money it was easy that way I could close the listing deals but it was all for the laser of yeah close see that's the thing was the laser was focused on how could I close more real estate clients got oh that was a feather in the Hat so gotcha gotcha okay and I do know you mentioned that like oh well you have a million lasers too but what he said is actually right like it does seem like he has a lot of lasers but they all point back to One mission and so it it's a lot of different vehicles to get to the same Mission gotcha I see yeah cool that'll that'll make sense on the tombstone one day yeah anyway uh okay good anything else anything else good good okay great so let me just mention that uh for the purposes of financial advice provided to you in this video any recommendations here are provided based on the information that we received from Phil uh no one should assume we have or recall if we have it any of your background information I know there were some documents that we pulled up I looked at nothing other than your 2021 and 2022 tax return briefly for like 30 seconds so therefore the information that we provide here is just based on what we talked about uh and uh I'm I'm a big fan of of you I think you've got uh you've got a great situation here a great setup and uh Financial advice to you laser focus okay and then you're going to get into more real estate but there's no rush there's there's no rush yeah so it's it this you're not going to like I I think you're thinking 2021 how real EST estate escaped you right it kind of escaped everyone sure not soon you think it's going to not soon there's no like I can't guarantee it but I could not uh give anybody that false sense of hope and and say you know here's Financial advice go YOLO into all this real estate right here sure yeah no cool thanks man awesome thank you appreciate it yeah that cool thank you Phil go check out Phil's channel in the link down below and um your real estate business yeah yeah so I'm a real estate agent um anybody interested well clearly I should uh double down on the real estate side um and the nurse phille YouTube channel is how shift workers in particular but really other people can kind of Leverage their position um to make more money from their job that they already have and hopefully maybe one day buy some real estate awesome thanks so much thanks guys
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