When I finished dental training at LSU, I was focused on one thing: getting rid of the $300K student loan debt I’d accrued. I understood the value of investing as early as possible (I didn’t start practicing until my early 30’s); but again, I was in survival mode. You see, only two weeks before I…
Real estate syndication deals have become quite popular especially among the doctor community. Why? It allows those too busy to deal with tenants to passively invest in real estate and still get the benefits such as tax advantages and cash flow distributions. One of the questions new Passive Investment Circle members want answered is “how…
I recently spoke with a south Louisiana dentist about real estate investing. He graduated three years ago and recently completed the process of buying an existing practice. His wife is also a dentist so they have a great income stream coming in. I was impressed that he was focused on building long-term wealth and already…
It seems that in several conversations lately I’ve been mentioning the phrase, “You don’t know what you don’t know” quite often. Take for instance a 401k or any type of retirement plan that we’ve been told is the BEST investment strategy for retirement. If this is the ONLY option you’re given then that’s it, right?…
I’d be willing to bet that the single largest expense over your career will be TAXES. I see too many doctors/high-income professionals that accept this fact (paying up to 50% of their salary to the IRS) yet fail to address it. Maybe they become complacent and simply accept it for what it is? I’m not…
It seems that some people think “becoming rich” is a bad thing. Take for instance a recent Dave Ramsey Show rant titled, “Should Billionaires Be Allowed To Exist?” Someone email him an article written in the New York Times about “abolishing billionaires”. Here’s a few lines from the article: “Some ideas about how to make…
As long as I can remember I’ve always had an interest for investing. Maybe it stems from my “lawn mowing” days in high school where I learned firsthand working for myself and making my own money was the way to go. I loved working on my own schedule and not someone else’s. One of the…
One of the main benefits of being a new Passive Investors Circle member is the lower initial investment you can make in a deal alongside me. For instance, last month an orthodontist member wasn’t comfortable investing the minimum amount (75K) in the multifamily deal I invested in. Why? This was his first time investing in…
“Get your mind right son!” This is what I’d hear each time I stepped into the gym when I was living in South Louisiana from one of the “regulars”. I was fresh out of dental school and didn’t know what he was really trying to do…I just thought he was being funny. It took years…
I recently spoke to a group of periodontists about apartment syndication investing. As you can imagine, the majority did not have any prior real estate experience and were comfortable following their financial adviser’s advice of 401k investing until age 70+. I occasionally visit investing forums and Facebook groups for doctors. Most are discussing: what index funds…
You failed your math test. Your football team was defeated last night in the playoffs. You lost your tennis match yesterday. You’re an epic failure. If you’re like most people, you probably have a bad relationship with failure. I know I have. Look, I understand that nobody wants to fail. For most people, the word…
As more and more doctors and other high-stressed professionals are experiencing burn out these days, the notion of reaching FIRE (Financial Independence Retire Early) has increased tremendously. It seems that the age-old question new, burned out Passive Investor Circle members are trying to answer is: How much money do I need to never have to…
“Hey Jeff, I’ve got an extra $300K in surplus cash parked in a savings account earning zero interest, what should I do with it?” It’s not uncommon to receive questions like this each month. This stems from people spending less during the pandemic plus depositing the excessive “stimulus” checks that’s been handed out like M&M’s…
“Rule No. 1 is never lose money. Rule No. 2 is never forget Rule No.1.” – Warren Buffett If one of the greatest investors ever tells us the MOST important rule to reach our financial goals is to NEVER lose money, do you think we should pay attention? He didn’t mention about investing in real estate,…
“Money can’t buy happiness…but it CAN buy cows, right? And cows produce milk, and milk makes ice cream, and ice cream makes you happy.“ This is the type of stuff I think about when my brain is in “relaxation” mode while eating Huckleberry ice cream at my favorite Montana resort, Paws Up. Whether you realize…
There are many things money can buy, but the most important one of all is freedom. With regards to freedom, I’m specifically talking about being able to do: what you want when you want for as long as you want with whomever you want And the best way that can be accomplished is with something…
Recently Morgan Housel’s book, The Psychology of Money, was recommended on my list of podcasts and YouTube videos. Why? I don’t know. Maybe “Google” was trying to tell me something? 🙂 Anyway, after listening to his interview about his latest book, I had to order one for myself. I love his statement in the Introduction: …
Everybody wants to be a millionaire, right? If you’re a doctor or other high income earner then you may think you’d have a better chance of attaining millionaire status vs the average person. Not so fast. Not only do we start practicing later in life (sometimes in mid to late 30’s) but our debt load…
This summer while bass fishing, my friend informed me that he’s started focusing on real estate, specifically fix and flips. What’s amazing is that even at 23 years old, he already understood the concept of “getting your money to work for you.” He wanted to know a few resources to begin learning more about real…
It seems as if I missed the boat again. Back in early 2016, my wife and I were at a tennis camp in Miami. One of the other players introduced himself as being in the “crypto” space. I had no idea about Bitcoin or any other cryptocurrency and shrugged it off. He told me to…
So you want to invest in real estate as a passive investor but not quite sure where to start? As someone that’s been investing in rental properties (syndications) since 2016, there’s a lot of information to know but only a small amount to REALLY pay attention to. Actually, there’s 3 common mistakes they should avoid…
Occasionally during college I assisted my friend’s dad (general surgeon) in surgery at our local hospital. I’d pull into the patient parking lot and walk by the “Doctor’s Parking Only” sign. It wasn’t hard to miss this section as it mainly consisted of: Mercedes BMWs Lexus High-end SUVs I’ve never been much of a car…
What Should You Prioritize? One of the biggest benefits of selling a practice is found in the amount of time that it frees up. While owning and operating medical/dental practices is appealing, many often become disenchanted with the amount of work that goes into things that they had not accounted for. It certainly did for…
Giftology? Is that a course I missed in college? 🙂 It’s funny when I look back over the 20+ years of education that allowed me to practice as a periodontist, some of the courses that really “stuck with me” had nothing to do with teeth. During my residency at LSU, gift giving was never on…
Grant Cardone started out as a successful entrepreneur teaching others how to sell then moved to the real estate investing space. He currently has several billions of dollars of real estate under management and is now a best selling author known for the book, “The 10X Rule“. Here’s a list of some of the quotes…
“We’re DEBT-FREE!!” After racking up $300K of student loan debt (dental school), I became a Dave Ramsey disciple hoping one day to be able to call his radio show and give our debt-free scream. I thought his way was the ONLY way to building wealth. Heck, he even starts each radio show with, “…where debt…
When I began a start up specialist dental practice in 2005, I mainly focused on networking with other dentists for referrals and anything I could to increase new patient numbers. As a matter of fact, this was my MAIN focus for years. You see, shortly after training, marketing companies know that young doctors are hungry…
If you’re rich and make a lot of money, does that automatically make you wealthy? Doctors typically make a lot of money so all doctors are rich, right? These are some of the topics we’re going to cover today. If you’re a subscriber to this blog (thank you), then you’ve noticed that I’ve frequently referenced…
Up until recently, one of the most influential books that’s helped in ALL aspects of my life (work, family and social) was Dr. Robert Cialdini’s Influence – The Psychology of Persuasion. Once I started learning about why we do the things that we do, I’ve become fascinated with behavioral psychology. Recently I joined one of…
For the past decade, the average inflation rate has hovered around the 2% mark for the United States. Many of the “financial experts” are forecasting higher inflation than normal due to the 2020 pandemic. They state this is from a rise in unemployment rates, higher costs of goods, failing businesses and large injections of stimulus…
If you’re ready to learn, then I’ve created a FREE guide that will teach you what you need to do to get started in creating passive income with real estate.