Doctors Investing in Real Estate

There are reasons doctors should consider real estate investing to build their financial wealth.
They understand the power of leverage. Doctors understand how important it is to work in their area of expertise while letting others work in theirs. They apply their knowledge to serve and leave the administrative activities to those who are best suited. They are masters at creating powerful teams to work for a common goal.
They have higher aspirations for their future and are willing to delay immediate gratification to assure success. Doctors enter the medical field following their education with the mission of building a healthy financial future for themselves and their families. They are willing to put in the time needed and develop the expertise needed to achieve these goals.
How can this relate to real estate investing?
With the guidance of an experienced investment coach, they can shorten the learning curve and create a strategy that fits their goals and their lifestyle. This can include everything from a hands-off buy and hold strategy using a property manager to handle everything and deliver a monthly check. Other strategies can include syndication opportunities or REITs or joint ventures.
Doctors recognize opportunities when presented to them. As a new doctor it is important to find ways of creating effective tax breaks to offset their income. Your CPA will become your best resource to help you create a strategy for offsetting earned income. He or she can introduce you to the real estate professional status that the IRS allows, yet doesn’t require you to leave your active profession to achieve the benefits of investing.
Last but not least educated professionals utilize the services of a financial planner to help them develop the overall plan for building their financial future. Take time to find the right financial planner who really believes in diversification in building your portfolio. The one mistake most professionals make is believing “they have to wait until they have all the money to get started.”
Invest for the long haul. Don’t get too greedy and don’t get too scared. The best way to measure your investing success is not by whether you’re beating the market but by whether you’ve put in place a financial plan and a behavioral discipline that are likely to get you where you want to go.
“The major fortunes in America have been made in land.” John D. Rockefeller understood this truth. Living in challenging times that include recession and inflation means that successful people must develop a plan and execute well. Willingness to develop a financial goal and delay immediate gratification can result in the gold at the end of your rainbow!