From Healthcare to Housing: My Journey into Real Estate Investing
By Jamie Stone – Let’s REI Podcast
When I moved from Canada to the U.S., my goal was simple: pay off my student loans. I never expected that years later, I’d be sitting on a podcast sharing how I left a 20+ year nursing career to dive headfirst into real estate investing. But here we are—and if you’re curious about what that transition looked like, keep reading.
How It All Started
It really began with Rich Dad Poor Dad. Like so many of us, that book cracked open the door to a whole new way of thinking. But it wasn’t until July 2023 that I took my first real step—joining Pace Morby’s Gator program. That’s where I got introduced to the power of creative finance, and from there, I went all in.
Soon after, I joined Subto, and that’s when things started to move quickly. I partnered with incredible people from the community (shoutout to Pops Prime—Monique Aranda, Jody Ogden, and myself), and we started building a portfolio focused on converting single-family homes into co-living rentals like Padsplits.
Lessons from Private Money Lending
One of the most important parts of my journey has been learning from the not-so-great experiences, especially as a private money lender (PML). Early on, I made the classic mistake: trusting without verifying. I loaned money without checking references, proof of funds, or even deal details. I learned quickly that protecting your capital isn’t about being cynical—it’s about being smart.
Now, I underwrite deals with a fine-tooth comb. I also vet people more thoroughly and educate new PMLs on how to safeguard their investments while still getting great returns.
Building Wealth with Strategy
I’m a big believer in using the tools you already have—especially when it comes to funding deals. For example:
- Self-Directed IRAs (SDIRAs): These are powerful for buying long-term rentals. Most people don’t realize they can put their retirement money to work now.
- Credit Stacking + Arbitrage: I’ve experimented with using 0% credit cards to fund investments that produce cash flow. It’s not for everyone, but if you know what you’re doing, it’s a killer way to access capital fast.
Why Co-Living?
Padsplit and co-living strategies have become a core focus of ours at Pops Prime. We’re targeting undervalued single-family homes in markets like Georgia, Texas, and the Carolinas. Why? Because they offer incredible returns—and they solve real problems like affordable housing and room demand near transit and employment hubs.
We’re buying these homes creatively (subject-to and seller finance), avoiding balloon payments, and aiming for at least an 18% cash-on-cash return.
What’s Next?
This podcast episode with Nathanael was a full-circle moment. Not just because we’re both in Growth Co or because he asked incredible questions—but because it made me reflect on how far things have come in under two years.
If you’re just getting started, or if you’re a seasoned investor exploring new strategies like credit arbitrage or co-living, my hope is that this story helps you see what’s possible when you lead with curiosity, build relationships, and stay humble enough to learn from your losses.
And if you’re looking to partner—whether as a private lender, wholesaler, or investor—my inbox is always open.
Let’s REI, Jamie