Travel Nurse Investing

17 Replies

This is my first post as I mainly browse but have decided I could use some feedback. I am 22 and getting ready to graduate my nursing program with 20k savings, no debt and credit score of 775. I plan to become a travel nurse by 25 and along with investing in local properties (Sacramento), I would love to buy out of state on most of the contracts I work. Hopefully I will be able to put at least 50k annually into investments since I can save a lot of money as a travel nurse.  Although it is still a few years down the road, I tend to think years in advance and any feedback on what I can currently do improve my plan would be great. 

@Noah Stone i'm a bit confused. Do you want to purchase a property in every state you work or just in sacramento? Are you looking at commercial properties or sfhs? (this is the commercial mf section of BP)

In general, saving as much as you can and education yourself on as many different strategies as possible is a good idea. If you really enjoy your job and can save $50k a year investing as a limited partner in syndications might be a good route. Most deals that people are doing project a 2x multiplier over 5 to 7 years (doubling their money). That's a good way to supplement your income and begin investing right away. 

Agreed with @Lucas Miller .  If you are looking to invest into multifamily properties with your savings the definitely get educated on the business even if you want to just start by investing as a Limited Partner (LP) in a syndication.  

There are a lot of good threads on the topic of education, but you can start with The Best Ever Apartment Syndication book by Joe Fairless and Dave Lindalh's books Multifamily Millions and Emerging Markets.  

@Noah Stone Educating yourself on type of investment you are planning to dive into is a very smart decision. 

You maybe interested in househacking if you are planning to stay in one place for a few year (and then rent out the house after you moved). If you are not staying for a long time in one location I would suggest passive investing: for example crowdfunding or investing into syndication. 

Not sure how long each of your rotations are, but I would consider house-hacking each time you move to a new location.

Congratulations on soon completing nursing school. I love how your travel hacking to see different places. 

1. Educate yourself! This is going to be what you do for the rest of your life as you constantly tweak and insert what you learned into action.

2. Analyze as many deals as possible. Keep reviewing and learning how to spot a good deal from a bad deal.

3. Connect with like minded people.

4. Find a mentor

5. Invest in bigger deals with a partner 

This sounds like a great strategy!  I recommend starting with something you know.  I once had a large house in Jacksonville that was close to the hospital.  I rented out each bedroom to 4 travel nurses.  It worked out well and the place was impeccable when they left.  I continued to rent the rooms out to others in the medical field.  House hacking is the way to go and will allow you to build wealth and transition into larger properties.

50K a year in solid multifamily syndications will add-up and payoff!

Do your homework upfront and align your investment with good operators.

Great job!

Dino

Originally posted by @Noah Stone :

This is my first post as I mainly browse but have decided I could use some feedback. I am 22 and getting ready to graduate my nursing program with 20k savings, no debt and credit score of 775. I plan to become a travel nurse by 25 and along with investing in local properties (Sacramento), I would love to buy out of state on most of the contracts I work. Hopefully I will be able to put at least 50k annually into investments since I can save a lot of money as a travel nurse.  Although it is still a few years down the road, I tend to think years in advance and any feedback on what I can currently do improve my plan would be great. 

HI Noah:

I am looking at setting up a housing rental agency targeting travel nurses in Orange County.

We are looking to provide very specific and benefits towards travel nurses.

Would love to chat about details on the nurse side and as investment. I have been talking to several nurses and they really love the idea.

@Rob Massopust Hey Rob! I am a travel nurse looking into a similar business profile specific to travel nurses as well. I think it is somewhat of an untapped niche tbh. Contracts usually run between 13 weeks to 6 mos so turnover is really quick but I've been playing with the numbers in an area where there's a dense travele nurses population and the cash on cash roi looks pretty good. Did you ever get into setting it up How is it going for you

Originally posted by @Jasen Aileen K. :

@Rob Massopust Hey Rob! I am a travel nurse looking into a similar business profile specific to travel nurses as well. I think it is somewhat of an untapped niche tbh. Contracts usually run between 13 weeks to 6 mos so turnover is really quick but I've been playing with the numbers in an area where there's a dense travele nurses population and the cash on cash roi looks pretty good. Did you ever get into setting it up How is it going for you

 HI @jasen

Yeah its a great way to get good rents with good tenants and not the hassle of airbnb etc.

Our goal is to target nurses, close to hospitals and deck the units out with all sorts of accessories that nurses would want. Most professional corporate housing is super expensive, most big apartment complexes dont offer furnished and AIrbnb is just a mess. We are aiming for that goldilocks zone. We look for nice and safe and clean with average amenities but nice things like coffee makers, hair dryers and black out curtains for the night shifts. We gear it towards the 13 week contract and try to make it a good experience.

What area area you looking in?

DM me and will send you more info

@Rob Massopust I am currently a travel nurse as well and searching for some related info on housing! I think your idea and investment would be put to great use as there is such a high demand for housing travel nurses. I am actually going to be looking for assignment in the SoCal area starting June (currently I am in Modesto). I would like to know if you already have properties underway. Feel free to DM. Thanks!

Originally posted by @Synthia B. :

@Rob Massopust I am currently a travel nurse as well and searching for some related info on housing! I think your idea and investment would be put to great use as there is such a high demand for housing travel nurses. I am actually going to be looking for assignment in the SoCal area starting June (currently I am in Modesto). I would like to know if you already have properties underway. Feel free to DM. Thanks!

 Yeah its a good way to go but it seems that with the lack of Airbnb guests all AirBNB hosts have flooded the market. I had 2 requests this week but my two units are filled. 

I was hoping for more demand and higher margins but its thinning,

If I had a rental in a decent area and could offer a fair price it will do well

Hi @Noah Stone - I want to jump in (belatedly) to this thread to ask you about your experience as a travel nurse as that is a rental niche we're exploring. I'm interested in understanding what companies you contract with for housing, whether there's a stipend for housing, what amenities you look for in a place to rent, how close you prefer to be to your hospitals and what hospitals are attractive for traveling nurses. Any info you could share would be much appreciated!