When I transitioned out of the stock-market and into residential real estate investments, my whole world changed.
I knew that the majority of individuals on the Forbes 400 of wealthiest people either made or retained their money via real estate investing.
I joined their ranks, and knew I was on the right path.
Over the years, I learned about property and asset management and I made money while doing so. I knew that once the mortgages were paid off, I would have a monthly stream of income that would easily replace my salary as a physician in retirement.
I was no longer a slave to the whims of the stock-market.
I only had two problems. The first was that I still had over 20 years left on my mortgages. I was on what I like to call the long and sometimes painful path to wealth.
The Painful Path
“Why painful,” you might ask?… Two words, Property Management. Along with my investments, came a full-time job.
Managing the properties required skills that I initially did not have. Over time, I learned those skills and I learned to love the operations side of business. However, some of those lessons were hard and expensive.
The Slow Path
The second problem I had, was that I was burning out in my job as an Emergency Medicine Physician. Chronic under staffing coupled with the rigors of the job began taking its toll. I knew that I would not be able to work another 20+ years in the E.R. while I waited for the mortgages to be paid off.
The Fast Path
Consequently, I began learning about Commercial Real Estate, primarily multi-family apartment investing. I learned about the wealth accelerators in commercial real estate investing that can get you to your goals much quicker with less risk than many other types of investments.
- Leveraging other people’s time
- Leveraging the bank’s money
- Equity harvesting, or the velocity of money
- Economies of scale
- Taking advantage of the tax benefits
During this time I learned how to minimize my biggest wealth decelerator – taxes. By taking advantage of these concepts I could maximize my returns and do so at a much lower risk profile. Now is the time to make the best real estate investments and couple them with a proven wealth-generating system.
Today, I practice in the Emergency Department part-time. I do so on my terms and have more free time to enjoy with my family.
I have seen too many of my colleagues struggle through financial hardships and weather the storms of the stock-market. I often wonder why they don’t diversify at least a portion of their holdings in real estate investments.
I suspect that most think they have to manage their own properties like I have done. I suspect most do not have the time, energy, interest, inclination, or training to do so.
This is where NestEggRx comes in. This website is dedicated to real estate education and opportunities to help my fellow physicians make the best real estate investments in these trying times.
It’s your wealth and your retirement, why not make it abundant.
To your Financial Freedom,
Dennis Bethel, M.D.