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 w