How did you hear about The Real Estate Physician?
I asked for general advice on a financial MD Facebook group about who I could trust to invest with, within the realm of real estate. As a physician, I did not want to be taken advantage for not being an actual “business person.” Cherry Chen, MD, was one of the recommendations!
What made you want to diversify your portfolio with commercial real estate?
My whole life, I have had a strong interest in investing. I started with a savings account as a kid, then started learning about the stock market and mutual funds. I have invested in Roth IRAs, my 401K, brokerage accounts, done peer-to-peer lending, bought a dozen pre-IPO stocks, purchased cryptocurrency…. and invested in real estate. I find my preferred niche to be commercial real estate. I think the benefits of these investments vastly outweigh the benefits of single family, duplexes, etc. Passive commercial real estate keeps my headaches down while helping make passive income, reducing my overall tax burden, and while generally being occupied with stable tenants. I want a low stress way to make the most passive income with the least tax burden. Commercial real estate syndications are some of the best ways I have found.
Have you had prior experience investing in commercial real estate syndications before signing up with The Real Estate Physician?
I own 5 different real estate properties through my clinical practice, which is some of the best commercial real estate I know. These are owned with my fellow physicians and with a stable long-term tenant, my clinic. I have invested in a handful of other real estate syndications including multi-family real estate, mobile home parks, a hotel, condo/apartment development, and retail. Unfortunately, not all investments have gone well. The condo/apartment development resulted in a complete loss of capital due to the pandemic, and one of the houses being flipped with my hard money loan burned down due to arson. After losing my investment capital and experiencing personal stress from investing in some riskier/sketchier scenarios, I have come to appreciate simplicity and having the helpful eye of others to help me vet better deals. I have been willing to take risks with my investments, but I now prefer to err more on the side of safety. I truly appreciate investments which make distributions monthly or quarterly, so I can put the funds to use in other investments.
I find that The Real Estate Physician platform is outstanding! The deals have been researched by Cherry Chen and the teams she invests with and brought to me in a clear, organized format. The website is one of the best I have invested through! I have now done three deals due to the ease of the process and have finally found a place to put my capital to good use… now and in the future. I also truly appreciate investments which make distributions monthly or quarterly, so I can put the funds to use in other investments.
What suggestions do you have for physicians interested in getting started in commercial real estate syndications?
I have listened to several hundreds of hours of podcasts, Audible books, and YouTube videos about investing. Learn about the benefits of commercial real estate and take a leap. I think Cherry’s podcasts are a great place to start and there are many passive real estate podcasts I really have learned from over the years.
What does financial independence look like to you?
I have worked very hard to get to a place of financial independence over the years. It takes little steps repeated over and over. Compounding interest, using money to make more money for you over time; it all leads to a point where you realize you are no longer trying to get to a point of financial safety. I am now at that point where I realize I no longer have the self-imposed stress to work as hard as I always have. That feeling of freedom takes the weight off my shoulders and brings less burden to my daily clinical and surgical practice.
Interested in learning more? Sign up for the Physician Investors Circle to connect with us.