#180 How I Got Started in Real Estate, ft. Dr. Victor Mangona, Dr. Jordan Frey, Dr. Mamta Kumar, and Dr. Christina Kang - Passive Income MD
#180 How I Got Started in Real Estate - PIMDCON 2023
Episode #180

#180 How I Got Started in Real Estate, ft. Dr. Victor Mangona, Dr. Jordan Frey, Dr. Mamta Kumar, and Dr. Christina Kang

In this episode, Dr. Peter Kim unfolds the real estate investing journeys of Dr. Victor Mangona, Dr. Jordan Frey, Dr. Mamta Kumar, and Dr. Christina Kang. Tune in to know their initial steps, the hurdles they overcame, and how these experiences have shaped their lives.

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.

DLP Capital brings this episode to you…

 

DLP Capital is a private real estate investment and financial services company focused on marketing and IMPACT by acquiring, developing, and building relationships, housing, leaders, and organizations. 

As a high-growth IMPACT investor, they focus on leveraging capital with real estate-backed investments to build wealth and prosperity for all our members, investors, clients, and partners. Through the Elite Execution System and the company’s exclusive membership platforms focused on business scaling, investment housing, family, and wealth… DLP Capital impacts lives by empowering its clients to choose, create, grow and preserve prosperity.

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34.42 Min • October 9

Episode Highlights

Now, let’s look at what we discussed in this episode:

  • Introducing the Panelists
  • First Steps into Real Estate
  • Landing The First Deal
  • Reflections on Early Mis-steps
  • Impact and Advice for Newcomers

Here’s a breakdown of how this episode unfolds…

 

Episode Breakdown

[01:20]

Introducing the Panelists

Dr. Peter Kim introduces the panelists for “How I Got Started in Real Estate”.

They are Dr. Victor Mangona, Dr. Jordan Frey, Dr. Mamta Kumar, and Dr. Christina Kang. Together, they will be sharing stories on how they started their real estate journey, giving you some tips and insights that you can apply as you journey with yours. 

“What makes this panel special is that they are all physicians. Each at different stages of their real estate experience, but all have, in my opinion, figured out why they’re doing this.”   
— Peter Kim, MD.

[04:16]

First Steps into Real Estate

Dr. Peter Kim takes us back to the roots of each guest’s real estate journey by probing into their first investments in the field. Victor Mangona shares how he started with his condo, which he planned to be a long-term rental. Jordan Frey recounts how he started with a duplex along with his wife. Mamta Kumar, with enthusiasm, narrates she started with land flipping which earned her a 10k profit..

Christina Kang rounds off the discussion by sharing how she saw Leverage and Growth Summit on social media which prompted her to learn and start with active real estate. 

Through diverse beginnings, each guest shares a common story of having to supplement their income as physicians, marking their entry into real estate investing.

“I think I saw on social media Peter’s free and virtual Leverage and Growth Summit. And it was just blinders coming off, you know, there’s so many physicians that were just like me, and I had no idea and they were just, they literally changed, you know, they’re changing their lives investing in real estate. ”  — Christina Kang, MD.

[11:35]

Landing The First Deal

Dr. Peter Kim dives into the experience of clinching the first deal with each guest. Victor Mangona talks about the hustle of finding anything he could afford that would cash flow, having less than 10k in his account. 

Mamta Kumar narrates how she followed the lamp-flipping model, directly reaching out to landowners to negotiate. Jordan Frey, on the flip side, shares how he and his wife finally got a deal they wanted but were scared of losing money, taking a long time to come to terms with it but eventually adding more to his portfolio.

Christina Kang shares the common narrative of initial fear, but reflecting on the reasons why they are doing so pushed Christina and her husband to go through all the hurdles. 

Each of their stories has a common pattern of fearing the unknown as they land their first deal in real estate, however, the varied experiences and lessons that come with it made them to be who they are now.

“It’s just like medicine, it’s like your first night or whatever your first day as a resident, you’re just like, what, what do I do? And you figure it out somehow. It’s the same thing.”  — Jordan Frey, MD.

[20:13]

Reflections on Early Mis-steps

Dr. Peter Kim invites the guests to reflect on their early missteps and share what they would have done differently. Christina Kang reflects on her analysis paralysis, eventually realizing that it doesn’t have to be perfect, and that just taking the step is most important.

Jordan Frey shares his experience of underestimating capital expenses and having bad tenants, eventually learning and minimizing those mistakes along the way. Mamta Kumar, on the other hand, shares that not focusing on one thing was her mis-step, eventually realizing that narrowing down to what you need trumps holistic diversity. 

Lastly, Victor Mangona acknowledges that his mistake was not buying “more” earlier, a lack of doing more rather than all the little things that he could have done better. 

Each guest’s introspection sheds the invaluable lessons learned from initial missteps, providing a roadmap for budding investors to navigate the common pitfalls in real estate investing.

“You just have to take one step. You don’t need to know all the steps. You don’t have to have the full Blueprint. Just take that one step at a time.”  — Christina Kang, MD.

[24:11]

Impact and Advice for Newcomers

Dr. Peter Kim navigates the conversation toward the life-altering impact real estate investing has had on the guests and solicits a piece of advice for those at the doorstep of their journey. The common theme they share is to take action, continuously learn, and focus on your goals.

Hailing from different backgrounds, the stories and advice they share resonate with how transformative passive real estate investing can be, not just as a means for finances but also as a life-enriching journey for their families.

“Decide what you want to do, but decide to start and put a deadline for yourself. I really think we spent a lot of time analyzing because we didn’t want to lose the money. But we are losing the time. And that’s losing money”  — Mamta Kumar, MD.

We talk in depth about all of this and more in our course–Passive Real Estate Academy. Want to learn everything about investing in real estate with confidence? You can grab your seat right here!   

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