3 Degrees, Debt Free, and “Coasting” to Financial Independence

House Hacking

Brenda Olmost shares her innovative approach to reducing living expenses through house hacking. She initially bought a condo, which appreciated significantly, and later acquired a larger home where she rented out rooms to travel nurses, covering most of her mortgage. This strategy allowed her to save substantially on housing costs, which she then invested in her 401(k) and Roth IRA, contributing to her financial independence.

I started renting out to travel nurses, because Austin has a lot of nurses come on three month contracts to work here in the local hospitals. And I had a few travel nurses live with me, and that paid like $1,400 out of my $1,700 mortgage.

--- Brenda Olmost

Brenda's experience highlights the power of real estate as a financial lever, even when initially unintended 1 2.

   

Real Estate Investments

Brenda's journey into real estate began with a strategic purchase of a condo after grad school, marking the start of her financial independence path. Despite initially having a car loan, she prioritized investing in property, which significantly increased her net worth over five years. Her disciplined approach to paying off consumer debt, except for mortgages, underscores her commitment to financial growth.

I bought my first property right when I graduated grad school in 2017.

--- Brenda Olmost

This decision to invest in real estate early on has been pivotal in her financial journey, allowing her to enjoy a lifestyle where she can spend on personal desires after saving and investing 3.