The median pay for physicians and surgeons is over $200,000 each year. If you're a doctor, it's not surprising that you will be considering real estate investing and commercial real estate investing today, because you have a disposable income for it.
Even if you are earning more than most people as a doctor, you still need to make sure that your money will be properly invested. You need to do your research and get to know the market.
This article will tackle a few tips that doctors can use to create a strategy for real estate investing.
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While doctors make more money than most people, it is always a wise move to have other sources of income. By getting into real estate investing, you will have an additional source of revenue.
To help you out, we have listed here some tips that you can follow.
Before you commit yourself to making an investment in real estate, you have to be sure that you can afford it. If you have a lot of debt, it might be a better idea to consolidate your debt first.
Also, if you don't have enough money saved up as an emergency fund, then you are not in a strong position to make an investment.
There are two approaches to real estate investing that you can go for. The first one is active real estate investing and the second is passive. As the name would suggest, with active investing, you will be the property manager.
As a doctor, you probably don't have the time to manage properties. On average, American doctors work up to 60 hours each week.
If you choose an active investment, you will be responsible for the following:
If you're working a 60-hour week, you won't have the time or energy to handle all of those tasks. Therefore, choosing a passive investment is a wiser path to take.
Moreover, you may not have the knowledge or the understanding of the real estate market, so letting the experts handle the job is a better choice.
Simply put, a passive investor will just contribute funding without having to manage the property.
Learning the basics of investing and handling your finances, in general, is essential, especially if you're planning on venturing into real estate investing.
There are many online classes for financial literacy that you can take. Arm yourself with the knowledge and reap the reward later on.
Just because you have the money to invest, doesn't mean you have to commit all of it right away.
You should start with a small investment so you can get the feel for it. Once you are more used to it, then you can increase the amount you are dedicating to your investment.
Before you commit your money, you should know what kind of returns you will be getting for your investment. If you think it's below what you are expecting, then look for something else.
You must set standards for the returns that you want to get.
Some people are natural when it comes to investments. They have the patience to buy and hold on to a property before flipping it. Sometimes, they would know which properties are ideal for wholesaling.
Even if you are one of those born as a natural investor, you still need a mentor to guide you.
You can put money into a dependable, well-balanced portfolio of real estate assets with institutional quality through our team. Modern technologies and internal experience are combined to maximize your investment.
You can now invest in real estate, which has historically been one of the asset types most sought after by professional investors. To learn more, contact us at 949-881-7128 at Saint Investment Group today!
A master in Investment, Marketing, and Capital Raising.
Nic has honed his focus on the Real Estate and debt markets with Saint Investment Group and pursues large-scale Distressed Asset purchases with his partners and syndications.