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"Just take action. Take action. Don't overthink it. Don't overcomplicate it.”


Welcome to another episode of the Investing RN podcast! In today's episode, we're thrilled to have Tim Woodbridge with us, a former nurse who has brilliantly transitioned from  healthcare to mobile home investment.


Tim's story is not just about a career shift; it's a tale of transformation and financial empowerment. After a decade in nursing, working in various departments from telemetry to outpatient dialysis, Tim's eyes were opened to the power of investment through the influential book "Rich Dad Poor Dad." This led him down a path where he now thrives in property management and operations, all the while growing his investment portfolio and mentoring future investors.


In our conversation, Tim delves into the nitty-gritty of leaving behind the security of a nursing career to embrace the risks and rewards of real estate entrepreneurship. He shares the emotional and financial upheavals that come with such a bold move and how he navigated the uncertainties to build substantial wealth through asset ownership.


Tim's journey is inspiring and we believe you can learn so much from him on your way to financial freedom. Whether you're a healthcare professional curious about real estate or an investor looking for a fresh perspective, this episode is for you!


🔑Key Takeaways:

• Transitioning from a full-time nursing career to real estate investment requires courage, a willingness to face uncertainty, and the ability to tackle unforeseen challenges.
• Joining groups and communities with like-minded individuals is crucial for guidance, motivation, and growth in the entrepreneurial journey.
• Creative financing strategies are key to successful real estate deals, especially when traditional funding proves challenging.

⏱️TimeStamps


0:00 Introducing Tim Woodbridge

03:15Tim Woodbridge shares his experience working in various nursing roles.

8:08Tim Woodbridge explains his decision to leave nursing and pursue real estate investing.

11:59Taking acquisition fee to pay himself

15:00Keeping nursing license as a backup plan

17:41Discovering real estate through "Rich Dad, Poor Dad"

19:16Taking action and making a deal on a mobile home park

23:53Cost savings in deals compared to his personal expenses.

27:49The concept of a DSCR loan and how it is used in financing deals.

32:36Community of like-minded individuals and attending events and retreats.

35:35Buying mobile home parks

36:05Challenges of dealing with professional tenants

37:34Tim's offer and negotiation process for his first deal

40:08 Dealing with a partner who stole from the company

43:23Investing in self-education and resources for nurses

46:15Advice for new grads: Find something that excites you

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