Looking for financial freedom!

[Ian Fried]

Nice to meet everyone! I have spent the last 14 years in nursing and love what I do as a nurse practitioner. That being said, I realized that I will never have financial freedom with my current plan and have been looking at ways to break the cycle. At first I would like to simply supplement my income, but within the next 5 years, I would like to have entirely replaced that income with investments (multiplex, STR, ect). I did a cash-out refinance on my home that I bought back in 2014 that had a ton of equity, and now have a pretty good sum to start my path into real estate. I am working with an amazing realtor who is on board to help me on this adventure. I am leaning towards STR as the cash flow/ROI is quicker, and while a lot less passive than long-term rental, I feel this would help reach my goals quicker. I live in South Florida and would like to buy a property somewhere within the state. I have run into that dreaded "analysis paralysis" mode after looking at many properties and putting them through all the calculators. Any and all advice would be appreciated. Thank you!

[Steven May]

Was a bedside ICU nurse full time for 1.5 years. Went PRN in the beginning of 2021. That was mainly to transition into becoming a full time real estate agent. But I am a investor as well. 2 long term rentals, 1 air bnb, & 1 self storage facility all in MO. (Have another self storage facility in escrow) Will likely purchase a new personal home this year and turn my current one into another STR. This will put me at my financial freedom number at 26 years old. You can definitely make it happen in 5 years! As Greg stated above, you will need to start putting some offers out even if they don't 100% meet your numbers. You will learn so much from doing the first one and the 2nd and 3rd become that much easier to facilitate. I'd also see if you can switch to PRN as a NP somewhere in South Florida - may be less stressful of a transition to fully getting out of the nursing profession.