Blog
-
How To Make Passive Income With Vacation Rental Property
One of the BIGGEST lessons Robert Kiyosaki’s book “Rich Dad Poor Dad” taught me was: “The Rich Don’t Work For Money” – Robert Kiyosaki To take it a step further, billionaire Warren Buffet once said, “If you don’t find a way to make money while you sleep, you will work until you die.” Now if the rich don’t work for money and…
-
Want Freedom? How To Calculate Your FI Number
It’s amazing how many younger Passive Investors Circle members begin pursuing financial independence (FI) shortly after completing their training. I first learned about the financial independence/retire early or FIRE community after 10 years of practicing as a periodontist. Honestly, the concept of financial independence had never occurred to me. I thought there was no other…
-
Golden Handcuffs: The Ultimate Doctor Restraint
You finally made it. The grueling and exhaustive medical training is now over and recently you landed your dream job with a six-figure salary that’s going to provide a sweet lifestyle. Not to mention a MUCH better way to pay off that $400,000 worth of student loans and mounds of credit card debt. However, as…
-
Understanding Cap Rate vs Cash on Cash Return
One of the issues first year dental students face is becoming familiar with all of the “dental lingo” involved. It took me a while to get comfortable with terms such as: mesial/distal apicoectomy probing depth (PD) loss of attachment (LOA) exostosis This is no different when first starting to learn about real estate investing. Occasionally…
-
The Resort At Paws Up – A Montana Adventure Of A Lifetime
I have a confession to make – I LOVE Montana. Heck, even “Honest Abe” did too! “My favorite state has not yet been invented. It will be called Montana, and it will be perfect.” – Abraham Lincoln If you’re a subscriber to this site (thank you!), then you’re probably wondering why I’m talking about traveling to…
-
Maximizing Passive Income through Self Storage Investment
Who would have thought that a pandemic causing a world to shut down would cause some businesses to fail and others to thrive such as the self storage industry. That’s right, self storage. It seems that when American households couldn’t work and free money was sent to them via the government, their boredom was relieved…
-
Influence Book Summary – The Psychology of Persuasion
If there’s one book that I’ve read that has helped me in ALL aspects of life (work, family and social), it would be Dr. Robert Cialdini’s Influence – The Psychology of Persuasion. It’s also frequently mentioned on podcasts as being on the interviewers favorite books list. There’s something about both psychology and negotiation that has…
-
Doctor Real Estate Investing: 4 Ways To FI
Who would have thought that a global pandemic in 2020 sending thousands of people to hospitals throughout the U.S. would cause many doctors to lose their jobs and earning potential? Doesn’t make sense, right? You’d think the demand would now be higher but it seems that many hospitals have lost so much money that hiring…
-
Qualified Purchaser vs Accredited Investor – What’s The Difference?
For the first 10 years of my career as a periodontist, I socked money away in the only investment opportunities I was familiar with….the stock market. This was due to my limited financial knowledge. At that time, the majority of our investments were in good ‘ole boring Vanguard index mutual funds (i.e. VTSAX Vanguard Total…
-
What To Do If You’re Thinking About Quitting Medicine
I recently came across a post on a forum for dentists from a 34 year old dentist. He wanted the group to “help him get out of dentistry.” He had only been practicing for 8 years and was miserable having to deal both with patient complaints and staffing issues. It’s hard for him to decide…
-
Financial Planning For Doctors In 7 Steps
“What happens if Washington votes to raise our taxes?” “Do you think all the stimulus money is going to cause inflation to rise?” Questions like these commonly appear in my inbox from Passive Investors Circle members and honestly I can’t answer them (I don’t have a crystal ball). The government’s tax policy and the future…
-
3 Reasons Value Add Real Estate Investing Can Work For You
3 Reasons Value Add Real Estate Investing Can Work For You My dad’s father and uncle started a hardware store (Star Hardware) in 1941 that my dad still runs today. There’s nothing that I’ve ever seen that he couldn’t fix. (Maybe that’s why his nickname is “Mr. Fix-it“? Occasionally my wife and I will call…
