Blog
-
Passive Income vs Active Income: What’s the Difference?
Passive Income vs Active Income: What’s the Difference? The main difference between passive income and active income comes down to one thing, your direct involvement. Active income is money you earn by trading your time and effort for a paycheck, like seeing patients or working an hourly wage. Passive income comes from assets you own,…
-
Wealth Management for Doctors: What Advisors Leave Out
Wealth Management for Doctors: What Advisors Leave Out You spent over a decade learning how to treat patients, but nobody spent a single day teaching you how to handle the money that a medical career produces. Wealth management for doctors is a comprehensive approach that coordinates your investments, tax planning, student loans, insurance coverage, and…
-
What Is Seller Carry Back Financing in Real Estate?
What Is Seller Carry Back Financing in Real Estate? Seller carry back financing is when the person selling a property acts as your lender instead of a bank. You put some money down, and then you make your monthly payments directly to the seller, who holds a note secured by the property until you pay…
-
$5 Million Net Worth Lifestyle: What It Really Looks Like
$5 Million Net Worth Lifestyle: What It Really Looks Like A $5 million net worth lifestyle looks a lot more normal than most people picture. You’re not buying yachts or filling a garage with sports cars. You’re buying the ability to make decisions without checking your account balance first. In this article, I’ll walk you…
-
What’s an Operating Agreement for an LLC? The Basics Explained
What’s an Operating Agreement for an LLC? The Basics Explained You formed your LLC, filed with the Secretary of State, and thought you were done with the paperwork. Most small business owners and real estate investors take this same path. They set up their limited liability company, get their articles of organization approved, and assume…
-
Top Appreciating Assets for Building Real Wealth
Top Appreciating Assets for Building Real Wealth Appreciating assets are things you own that grow in value over time, and they’re how real wealth actually gets built, not the size of your paycheck. In this article, I’ll walk you through the best appreciating assets, what makes them grow, how the taxes work, and how to…
-
How To Qualify For Real Estate Professional Status
How To Qualify For Real Estate Professional Status Real estate professional status is an IRS tax designation that lets you take your rental losses and use them against your active income, like the money you earn in your practice or business. Qualify for it, and losses that used to just sit there can lower what…
-
Distressed Real Estate Investing: A Beginner’s Guide
Distressed Real Estate Investing: A Beginner’s Guide Most doctors I talk to think real estate investing means buying a duplex down the street and praying it cash flows. There’s actually a whole different world out there that investors (in the know) have been quietly tapping into for decades, and it goes by the name distressed…
-
Net Worth vs Income: What’s the Key Difference?
Net Worth vs Income: What’s the Key Difference? If your income stopped tomorrow, how long would your lifestyle last? Not your net worth. Not your 401(k) balance. Real income replacing what you currently earn. Most high earners are worth millions on paper, but are completely dependent on a single income stream. And that, as I…
-
What Is a Real Estate Sponsor? A Guide for Passive Investors
What Is a Real Estate Sponsor? A Guide for Passive Investors You’ve built a successful practice/business and now you’re looking at real estate investments that don’t require you to manage tenants at midnight. That’s where real estate sponsors come in. These are the general partners in syndications who find deals, secure financing, manage properties, and…
-
Pros and Cons of Being a Doctor: Is It Worth It?
Pros and Cons of Being a Doctor: Is It Worth It? Becoming a doctor is one of the most respected career choices a person can make. It’s also one of the most demanding. Before you commit to a bachelor’s degree, years of medical school, residency training, and potentially additional training in a specialty, it’s worth…
-
Are Trailer Parks a Good Investment? A Beginner’s Guide
Are Trailer Parks a Good Investment? A Beginner’s Guide Warren Buffett owns mobile home parks, and he is not exactly known for chasing bad deals. While most real estate investors are fighting over single-family homes and commercial properties, a quiet revolution has been happening in the manufactured housing sector over the past decade. Mobile home…
