Temple, TX · Member since 2018 · 307 posts · 215 votes
So I just wanted to see if there are any CRNA's, RN's or any other Healthcare workers out there who are crushing it in real estate and small business. Would love to connect!
I am currently an RN working in Cardiothoracic ICU and would like to go back to school for CRNA. If anyone who is doing well in investing and business has any insight on their journey of growing as an investor/business owner, while also growing as a skilled Healthcare worker I would love to hear it!
Fort Worth, TX · Member since 2017 · 207 posts · 87 votes
6y
@Chris Allen Here's my take. I'm a CNM, certified nurse midwife. Like an NP, but can catch babies. I've actually focused more on REI than my career lately. We're not crushing it, yet. We are enjoying my boring 8-5 clinic job that allows my brain to engage in REI. I'm still growing as a CNM, just not trying to work nights at a 60hr/wk job.
Certainly, you'll get a pay bump going to your CRNA, but school will occupy your brain more than maybe you think. You'd have more money to throw at houses, but the school's long enough, the RE "fire sale" I think we're about to see may have passed by the time you make more money. Just some of my initial thoughts.
Kiyosaki would have you do a dollar cost analysis. If you put the same amt of time/money into RE, vs CRNA education, which will pump out more passive income and have a higher ROI? I've thought about this often, for me, getting my DNP does not make sense.
I'd love to hear more about your plans. Do you already own RE?
Fort Worth, TX · Member since 2017 · 207 posts · 87 votes
6y
@Chris Allen Here's my take. I'm a CNM, certified nurse midwife. Like an NP, but can catch babies. I've actually focused more on REI than my career lately. We're not crushing it, yet. We are enjoying my boring 8-5 clinic job that allows my brain to engage in REI. I'm still growing as a CNM, just not trying to work nights at a 60hr/wk job.
Certainly, you'll get a pay bump going to your CRNA, but school will occupy your brain more than maybe you think. You'd have more money to throw at houses, but the school's long enough, the RE "fire sale" I think we're about to see may have passed by the time you make more money. Just some of my initial thoughts.
Kiyosaki would have you do a dollar cost analysis. If you put the same amt of time/money into RE, vs CRNA education, which will pump out more passive income and have a higher ROI? I've thought about this often, for me, getting my DNP does not make sense.
I'd love to hear more about your plans. Do you already own RE?
Temple, TX · Member since 2018 · 307 posts · 215 votes
6y
Thanks Anna for responding, that is a great viewpoint and thats awesome you are a CNM, I have a few friends interested in that. And I have struggled with that mindset currently about the dollar cost analysis. I've looked at it several ways.
1) I can make good money in bedside nursing while spending the 3-4 yr and $200-$300k in schooling cost i would save by not going back to school and invest in real estate. I would hopefully build up a good business by doing that.
2) I could go back to school, while I'm school passively invest on the side if I'm able, and graduate making 2-3x the ammount of money I could as a floor nurse, then just postpone building a true real estate business.
A great benefit i see in option two, is while making great W2 income, i would also have the benefits of a w2 worker, i.e- matching 401k, health insurance. Etc.. which i wouldn't get if I were to focus more in full time investing.
And yes I currently own real-estate. I just turned 25, have a house hack duplex, and a BRRRR house I just got rented out. I hope to get married in about a year, and if I go back to school, I plan to buy another house hack wherever I go to school at.
New to Real Estate · Member since 2019 · 23 posts · 35 votes
6y
@Chris Allen Congrats on your REI so far. Sounds like you have great options moving forward. My husband and I are both travel nurses on contract in California (I am ICU as well). We are also a REI team. We just closed on our first property last week in SATX. As of right now, everything is up in the air for us considering the critical needs of travel nurses, which in turn means critical $$ contracts.
We currently do not have plans to go back to school for advanced degrees. Instead, we plan to devote more time to increasing our earning potential through travel nursing and house hacking so that we are able grow our investments quicker.
Temple, TX · Member since 2018 · 307 posts · 215 votes
6y
I Am actually doing my first travel assignment now in Austin (trying to renegotiate either they pay me Crisis Pay or send me to one of their facilities that really need me for crisis pay). I have considered just doing travel nursing for investing. Love the business.
New to Real Estate · Member since 2019 · 23 posts · 35 votes
6y
@Chris Allen Nice, I used to work in ATX and loved it, of course. Good luck on the renegotiating! It is all happening so fast. Hope you are staying safe through it all. Feel free to PM if you have any questions regarding the contracts here in California or just travel in general. I am going on 2 years but will prob take a break after this all passes.
Fort Worth, TX · Member since 2017 · 207 posts · 87 votes
6y
@Chris Allen You are in a golden position! Absolutely, go back to school! You'll still be under 30 when you ramp up your REI! You're making me jealous over here!
And yes, loving the W2 right now. So thankful for a secure job! CNMs aren't in high demand, yet. If it gets ugly, I have plenty of hospital skills they can pay me for; if it gets UGLY UGLY, home birth might be very appealing!
Keep up the amazing work! I look forward to watching you grow!
Marble Falls, TX · Member since 2018 · 36 posts · 18 votes
6y
Hey Chris, not quite in healthcare, but I'm a firefighter, so close to the ballpark haha. We aren't "killing it". BUT, we have been renting our first home out for a little over a year now, cashflowing over $1000/mo. We are living in what will be our second rental in 2 years. Plan to cashflow $200-$300/mo. on the second one. We are always keeping our eyes open for our next deal. Hoping to get into a duplex or fourplex next, but will seize whatever opportunity comes our way.