Real estate markets are cyclic, and in competitive times, savvy strategies matter. One underutilized approach is the back-up offer, presented after an initial offer is accepted, ready to step in if the first deal fails. Such primary deals can falter due to financing challenges, unexpected property issues, or even buyer remorse. While it doesn't guarantee success, a back-up offer enhances an investor's chances in a hot market. (more…)
In this engaging episode of the Doctors Building Wealth podcast, we are thrilled to feature Dr. Stephanie Pearson, CEO of Pearson-Ravitz. Stephanie shares her compelling story of transitioning from a successful OBGYN to an innovative entrepreneur in the insurance industry, driven by personal adversity. She delves into the challenges and triumphs of her journey, highlighting the profound learning experiences and the importance of adapting to change. Her story is not just about career transformation but also about finding a new purpose and identity beyond her medical practice. This episode offers invaluable insights for any medical professional exploring the realms of entrepreneurship and personal growth. Stephanie's story is a beacon of inspiration and a roadmap for doctors seeking to redefine their professional and personal lives. Listen Now: Have someone who…
The hospitality industry has seen a shift in recent years with the rise of short-term rentals. Platforms like Airbnb and Vrbo have transformed how travelers choose accommodations, with many preferring the comfort and uniqueness of private homes. One key decision for hosts is whether to allow pets in their rentals. Here, we delve into the advantages and disadvantages of such a policy. (more…)
In this episode of the Doctors Building Wealth podcast, we're honored to have Dr. Tod Stillson, a family physician turned entrepreneur. Tod takes us through his transformative journey from practicing in a traditional hospital setting to pioneering his way into the entrepreneurial world, establishing Doctor Incorporated and SimpliMD. He highlights the financial and tax benefits of this transition, emphasizing the importance of professional autonomy and diversified income streams for medical professionals. This episode is a treasure trove of insights for any medical professional curious about the intersection of medicine and entrepreneurship. Tod's journey serves as both an inspiration and a practical guide for doctors looking to broaden their professional landscape beyond conventional employment boundaries. Listen Now: Have someone who you think should be featured in a future episode? Comment…
Older properties can harbor hidden dangers in the form of asbestos and the multiple serious and fatal diseases linked to inhaling asbestos fibers. But how can you manage these risks and ensure tenant safety? How can you limit potential liabilities and safeguard your investments? How much does it cost to professionally remediate asbestos? We’ll cover these questions and more in this article, as well as our personal experience managing asbestos in our rental properties. (more…)
Tune in for an inspiring episode as we chat with the dynamic Dr. Jennifer Namazy, physician, mother, and founder of CharMED. With over 20 years of medical experience, Jennifer crafts a unique style amidst traditional medical attire. Learn about the heartfelt inspiration behind CharMED, sparked by a special gift from her daughter. How does someone entrenched in the rigorous world of medicine find the creativity to start a business? Despite facing business challenges, from product refinement to market transition, Jennifer's story is a testament to resilience and passion. Balancing roles as a doctor, entrepreneur, and more, this episode illuminates the power of creativity and tenacity in any profession. Dive in to discover how stethoscopes can be more than just medical tools, but also statements of style and individuality. Listen Now:…
Are you looking for a new home and don't know where to start? Or maybe you're worried about not knowing who to trust with such an important decision? Introducing Semi-Retired MD's primary home buying program. Tailored especially for doctors and high-income earners, our primary home buying program will not only ensure a seamless buying process but also exclusive financial benefits like substantial credits at closing. Don't navigate the complexities of home buying alone. Let us be your trusted partner, ensuring you find that dream home with ease and confidence. (more…)
Dive into this riveting episode where Leti and Kenji are unveiling their debut book, Life on Your Terms, launching October 24, 2023! Instead of merely sharing conventional financial wisdom, they weave a narrative around two doctor couples, shedding light on the myriad choices that high-income earners, especially physicians, have at their fingertips. Beyond the financial numbers, Leti and Kenji delve deep into the emotional and psychological facets of the choices doctors face. Whether it's the constricting binds of burnout or the fear of unconventional investments, this episode pulls back the layers, revealing ways to truly harness one's potential and achieve genuine freedom to live life freely. In the spirit of giving back, Leti and Kenji are donating all book sales to their non-profit foundation, the Doctors Legacy Building Foundation, which…
Debt service coverage ratio loans have become an increasingly popular option among investors in our community. But what are they? And why are investors choosing these loans over more traditional options? In this article we cover the pros/cons of these types of loans, and how to avoid some of the traps these loans might pose for inexperienced investors. (more…)
In our latest episode, we had the privilege of sitting down with Dr. Ian Thompson, a distinguished urologist who has impressively delved into the world of real estate investing. Ian opened up about his ventures, especially in the nuanced space of mobile home park investing. He shared the advantages of land ownership and gave an enlightening comparison between RVs and mobile homes. Not just content with financial success, Ian is also passionately involved in philanthropic endeavors, notably in the Democratic Republic of Congo. His dedication towards establishing churches, schools, and healthcare facilities in the region is truly commendable. If you've ever wondered about the intersections of medicine, real estate, and philanthropy, this Doctors Building Wealth episode offers a deep dive into the journey of someone who has seamlessly blended all…