#164 3 Ways To Find Money to Invest, ft. Dr. Peter Kim
In this episode, Dr. Peter Kim talks about the main ways to find the cash to invest from your capital sources so that you can start investing or take advantage of opportunities to come. This episode will help identify where to find money to start your investing journey.
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
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Episode Highlights
Now, let’s look at what we discussed in this episode:
- How Dr. Kim started investing after residency
- Increase savings
- Unlock trapped equity
- Retirement funds
- Be resourceful
- Physician Real Estate and Entrepreneurship Conference (PIMDCON)
Here’s a breakdown of how this episode unfolds.
Episode Breakdown
Started investing a few years out of residency
Dr. Peter Kim shares how he started his investing journey just a few years after residency. He reminisces how he thought of ways to find capital so that he could better position himself in the future.
“ I knew that if I didn’t start investing, that nothing would change. If I wasn’t able to create that passive income, then I’d be pretty much in a worse situation 5 to 10 years” — Dr. Peter Kim
Increase savings
Peter talks about how he increased his savings and allocated money toward his investments regularly. He shares that one can do so by investing a little more, beginning a side hustle, and finding ways to create more income rather than just cutting expenses.
“Now you’ll find that over time, as you get into more investments, especially cash-flowing ones, they will begin to compound those savings. And it’ll get easier and easier to save as you go but you have to get started somewhere.” — Dr. Peter Kim
Unlock trapped equity
Dr. Kim discusses how unlocking trapped equity means finding value. If you have assets, properties, or businesses, there is equity that you can tap into. He shares multiple ways like HELOC, cash-out refinance, or downsizing/liquidating property.
“Where is your trapped equity? Where can you get creative to find some funds for some of these investments, especially during this period, and see if it absolutely makes sense for you.” — Dr. Peter Kim
Retirement funds
Dr. Peter shares how retirement funds have the potential for more. He reasons that there are options to explore for retirement funds aside from equities like stocks and bonds. One can invest in commodities and alternative assets, creating diversification in the portfolio.
“When people tell you that all of your retirement savings can go into only one thing. Just know that there’s potential for more. And I would definitely explore that for you to see if that makes sense. ” — Dr. Peter Kim
How resourceful we can be
Dr. Peter wraps up this episode by stressing how important it is to prepare now for opportunities that will come later. The truth is, investing is a long-term game, however, if you can get find the right opportunity you will accelerate towards your goals much faster.
“I’ve heard before from Tony Robbins, it’s not a matter of our resources. It’s a matter of how resourceful we can be. And I think for our community, they’ve shown again and again that we can be absolutely resourceful to get closer to our goals to accomplish things that maybe we didn’t think were possible.” — Dr. Peter Kim
Physician Real Estate and Entrepreneurship Conference (PIMDCON)
Dr. Peter Kim closes by inviting everyone to join the Physician Real Estate &Entrepreneurship Conference (PIMDCON) this September 21 – 23, 2023 in Los Angeles, CA. The event is for those who want to learn more about real estate, investing, finances, passive income, entrepreneurship, and more.
“Every year people leave PIMDCON and they launch their real estate investing careers, while others grow their portfolio in exponential ways, in ways you wouldn’t have even imagined.” — Dr. Peter Kim
