#159 How Physicians Can Get Started in Passive Real Estate Investing, ft. Dr. Peter Kim
In this episode, Dr. Peter Kim shares 5 tips on how to get started in passive real estate investing as a physician. He talks about skills, experience, networks, and opportunities that can be leveraged to help you create passive income and take action in the current market.
Are you looking for a community to encourage you as you begin, or want to accelerate your business to the next level? Then join thousands of physicians who share the same journey of creating their ideal lives through multiple streams of income by joining us in our Facebook communities such as Passive Income Docs and Passive Income MD.
Trion Properties brings this episode to you…
Trion Properties is a multifamily real estate investment sponsor that buys and renovates multifamily
properties, then syndicates those acquisitions to provide high-yielding passive income for accredited investors. We take a vertically integrated approach to maximize ROI and minimize unforeseen costs and construction delays. Our renovations are resident-focused; we transform units into clean, modern, and desirable places to live. We concentrate on cosmetic upgrades, mild infrastructure repairs,
and adding high-value amenities and communal spaces with an aesthetic designed to appeal to higher-paying residents.
Episode Highlights
Now, let’s look at what we discussed in this episode:
- Passive vs Active Real Estate Investing
- Determine Your Time, Energy, and Financial Resources
- Do Your Research
- Understand the Basic Strategies of Passive Real Estate Investing
- Learn From the Example of Others
- Take Action as Soon as You Can
Here’s a breakdown of how this episode unfolds.
Episode Breakdown
Passive vs Active Real Estate Investing
Dr. Peter Kim explains the key differences between passive and active real estate investing. He invites listeners to reflect on their financial goals, risk tolerance, time, and level of expertise when building their own mix of active or passive real estate investing.
“The best approach when it comes to active versus passive investing really is up to you… your financial goals, your risk tolerance, your time, your level of expertise, how much all of that you want to put together and spend on your own — Dr. Peter Kim
Determine Your Time, Energy, and Financial Resources
Peter talks about how listeners should figure out how much time, energy and money or financial resources they have to devote when investing. He emphasizes the need to look at their financial goals in the years to come.
“That’s always the first step, figure out where you want to be in one year, three years, five years, 10 years, how much passive income do you want to have.” — Dr. Peter Kim
Do Your Research
Dr. Kim reminds listeners to do their due diligence, urging them to study the deals and get to know the sponsors. He encourages everyone to leverage their time best by researching people, communities, and resources that match their financial goals.
“If you know somebody firsthand who is investing with a certain company, they’ve had a good experience, they’ve done well, that’s a great place to start. Because you know that at least on one level, you can trust them again.” — Dr. Peter Kim
Understand the Basic Strategies of Passive Real Estate Investing.
Dr. Peter reflects on how important it is to educate oneself on the different types of investing. He invites listeners to try courses in the Passive Real Estate Academy and join the Passive Income Docs community where they can stay informed from the community and learn from experts.
“Without asking good questions, you’re not going to get great answers.” — Dr. Peter Kim
Learn From the Example of Others
Dr. Peter Kim reminds everyone that they don’t have to do everything alone. They can learn from the experience of others by finding a community of people who are already doing passive real estate investing and other investments for multiple streams of income.
“The faster way to learn on your own is to learn from other people who have successes and who have made mistakes ” — Dr. Peter Kim
Take Action as Soon as You Can
Dr. Peter Kim closes by inviting everyone to take action. He stresses that it can even be in small amounts, like taking the time to learn and invest in one’s own financial education.
“If you talk about the greatest transfer of wealth, it always happens in recessions, it happens at downtimes. When people are scared… they’re selling off their assets, meaning they’re selling their properties at a discount, and other people are able to pick them up.” — Dr. Peter Kim
