All Forum Posts by: Steve Steve

 Yes, i paid everything off, sold my truck, and have no debt. Im going to pay off as much of this first house as i can over the next year and buy another home in des moines. It was hard to swallow selling my truck due to the immediate loss of money, but i will make it up. 

I bought a 6 bedroom 4 bathroom home now.... https://www.zillow.com/homedetails/5526-Shiloh-Ln-NE-Cedar-R...

Ill be buying another one in a year. I have travel nurses ready to rent from me. Thanks for everyones advice.

As a mental health professional, this sounds a lot like paranoid schizophrenia, meth psychosis, etc. They will perseverate, have dellusions, audible/visible hallucinations. I would tread lightly. See if there is a crisis center you can call in your city that can have the police come check them out, many times they will bring them to the hospital and then they will be committed.

I want to thank everyone for the thoughtful responses. I think the obvious thing from here is to pay off all of my debts, and save some more money before starting anywhere else. I have listed my truck for sale, and hope to have it sold ASAP. I am definitely considering buying a home and renting it to other travel nurses/doctors, but I would like to make a more well thought out plan, and realize I am still a ways off from actually buying. I just wanted to make sure that step 1 should be to sell the truck. I'm losing money on the front end, but hopefully I learn from this, and can avoid similar mistakes in the future.

Thank you again, and I will be around the forums reading/lurking. 

 Hmmm, well I paid off a lot of debt recently. I did have about $40k in savings up until recently... It was $125k gross, and I used a lot of it to pay off debt. I realize I have made a lot of money in the past, and made some poor financial decisions. Thank you.

Oh, and I agree about increasing my savings and paying off my debt... This is why I said I want to do this within 2 years. Thank you. 

Hello, I am completely new to investing money on a scale such as this. I would very much like to start investing and house hacking. I do not currently own any homes, but I am trying to come up with a strategy to invest,  and set some goals. I am an " Internal Travel nurse", which means I will be floating from 8 different hospitals owned by the same company. My Job is W2, and is permanent. I am eligible for a $156.00 a day stipend if I travel >50 miles away from my tax home. I am currently living with my parents, because I recently ended a relationship, and did not have the means to purchase a home. I am open to buying a multi-unit property and living in one of the units, and even buying a nicer home to rent rooms out of. I would really appreciate any sort of direction, links, information that could be provided. I want what would make the most sense to increase my wealth, and would like to make a few goals to work towards/budgeting. 

This is my current debt, assets, credit and income info: 

Credit Score: If I pay off most of my revolving debt I should be able to get my credit score to 720-740 pretty easily. I have 1 derogatory on my credit which was a collection of like $400 a few years ago. I paid that in full something like 3 years ago. Other than that I have perfect payment history.

Debts:

Storage unit-         $190 month

Phone bill-             $160 month (i pay for my moms phone)

Truck payment-   $1150 month (owe $58,000) impulse buy, and may be able to sell and get out of loan if needed. 2.9% interest

Student loan payment-    $150 month. (owe $15,000) very low interest

Live at parents rent free- $0 month

furniture credit card- $2400/$6000 $150 a month. (0% interest)

Discover card - $3369/$4000 $150 month ( 0% interest) 

Navy fed card- $2,700/$11,000 

Navy fed card - $13,000/$16,000

Around 5 other credit cards which have no balance on them.

Assets:
I own a 2014 BMW 550i which is worth around $15,000.  paid in full, and willing to sell this vehicle as well. I would be willing to buy something more economical to drive. 

Around $6000 in savings, and the same in a 401k. 

Income: 

I make ~ $125,000 per year. I am starting a new job in the next couple weeks. I made roughly $125,000 in 6 months when you include my overtime the last 6 months at my previous job which paid around the same money. I should be able to make around $200,000 per year with overtime. I am able to qualify for a stipend of $156.00 a day if I live outside of the 50 mile radius of my tax home. I am wondering if it would make sense to buy a home more than 50 miles away, and then just pay my parents rent with the stipend income, and still come out somewhat ahead? I have to show that I duplicate my housing expenses. I currently reside in Cedar Rapids, Iowa. I can be sent to any of 8 cities in Madison Wisconsin, Rock Island Illinois, Waterloo, Des Moines, Dubuque, Cedar Rapids, Fort dodge, Sioux City Iowa. 

I take home right around $4,000.00 without overtime a check, biweekly. I was averaging $6,000 biweekly take home before taking this job, and should be able to come close to that again. 

Thank you again for any help on a strategy. I would like to own multiple properties within 2 years.