Real Estate Rookie 169: From Flight Nurse to Financially Fruitful Landlord with 7 Units (in 2 Years!) w/Stacey Stegenga
Stacey Stegenga wasn’t always a landlord, she was a nurse. But not just any nurse, Stacey was a flight nurse, helping transport military patients across the US. When she stepped away from flight-nursing, she picked up travel nursing, moving around the US for months at a time to provide medical care wherever needed. She finally ended up in Denver, where her pay was cut in half and her expenses saw a drastic boost.
This was a massive change for Stacey. She wasn’t the best at budgeting and knew she needed more income. After stumbling upon the book Set for Life, by our own Scott Trench, she knew that the most logical conclusion to fix her financial troubles was saving, house hacking, and real estate investing. But at the age of thirty-three, Stacey questioned whether or not she was too late to get in on the cash-flowing action.
After educating herself intensely, she took the risk and jumped into real estate. Stacey was able to build a seven-unit portfolio in just two years! She’s tried her hand at out-of-state investing, raising private capital, partnering on deals, and mid-term rentals, all of which have worked out generously in her favor. She shares the exact steps she took to build her portfolio as fast as she did, so you can do the same!
In This Episode We Cover
Fixing your personal finances before trying to invest in real estate
Building a “financial runway” that allows you to buy properties, stress-free
In-state investing vs. out-of-state investing and the best choice for those in pricey markets
Scaling your real estate portfolio using cash offers (even if you don’t have the money)
Using mid-term rentals as a way to keep rent stability while boosting your profit
The risk vs. reward of buying properties sight unseen when investing out of state
And So Much More!
Links from the Show
Scott Trench's BiggerPockets Profile
Tyler Madden's BiggerPockets Profile
Real Estate Rookie Facebook Group
Real Estate Rookie Youtube Channel
Connect with Stacey
Check out the full show notes here: https://biggerpockets.com/blog/rookie-169
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