Blog
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Passive vs Active Income: Key Differences Investors Need to Know
Passive vs Active Income: Key Differences Investors Need to Know Active and passive income are two key concepts in personal finance that are significant in achieving financial stability. If you’re like me, you probably weren’t taught the difference in school—not even in dental school! Many of us are so focused on earning active income that…
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Real Estate Syndications: How I Started Investing as a Dentist
Real Estate Syndications: How I Started Investing as a Dentist Real estate syndication allows investors to pool their resources to buy or develop properties that are typically too large for one individual to handle. In this type of investment, a lead investor, known as the syndicator or general partner, identifies investment opportunities and manages the…
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How To Create Multiple Streams Of Income
How To Create Multiple Streams Of Income Creating multiple streams of income is a smart strategy for achieving financial security and independence. By diversifying your income sources, you can reduce reliance on a single job (like being a doctor or dentist) and better withstand financial challenges. Think of it as a way to make your money…
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3 Tax Buckets: Strategies for Retirement Savings
3 Tax Buckets: Strategies for Retirement Savings There are several reasons to invest—one is likely to build wealth and secure a comfortable retirement. However, one important question many forget to ask is, “How can that money be taxed in retirement?” In general, there are three tax buckets you should be aware of while investing. It’s…
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How to Start a Mobile Home Park: A Step-by-Step Guide
How to Start a Mobile Home Park: A Step-by-Step Guide Starting a mobile home park can be exciting and profitable. With the right planning and effort, you can create an affordable housing option that benefits both you and your future residents. As a periodontist, I had NO CLUE about how profitable this asset could be even…
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What Are CMBS Loans? Loan Terms, Property Types, and Risks Explained
What Are CMBS Loans? Loan Terms, Property Types, and Risks Explained CMBS loans (commercial mortgage-backed securities loans), also known as conduit loans, play a significant role in real estate financing. These loans involve pooling together commercial mortgages and selling them to investors. This allows businesses to access capital while providing investors with a fixed-income investment…
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How To Make Your Money Work For You
How To Make Your Money Work For You Growing up, I often heard successful people say, “If you want to get rich, you have to make your money work for you.” When I first heard this advice in high school, I had no idea what it meant. Robert Kiyosaki, the author of Rich Dad Poor…
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Rent Concession: What Is It and Should You Offer One?
Rent Concession: What Is It and Should You Offer One? Rent concessions can be crucial in the rental market, especially for landlords looking to fill vacancies. A rent concession is a temporary incentive landlords offer to attract and keep tenants. These incentives can take many forms, such as: reduced rent waived fees added amenities They…
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The Four Agreements by Don Miguel Ruiz Book Summary
The Four Agreements by Don Miguel Ruiz Book Summary In “The Four Agreements,” Don Miguel Ruiz shares a guide to personal freedom based on ancient Toltec wisdom. The book highlights four key agreements that, when practiced regularly, can transform your life by helping you overcome self-limiting beliefs and achieve true happiness. Speak with Integrity: Be…
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How To Buy a Campground With No Money Down
How To Buy a Campground With No Money Down Entering the campground business can be an exciting and profitable venture. With over 16,000 campgrounds across the U.S. and 40 million Americans regularly RVing, the demand for camping spots is high. Whether you’re planning to acquire an existing campground or start one from scratch, it’s essential…
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Is Accumulated Depreciation An Asset In Real Estate?
Is Accumulated Depreciation An Asset In Real Estate? Accumulated depreciation is important in real estate accounting because it shows the true financial health of a company. It isn’t listed as an asset on the balance sheet; instead, it’s a contra-asset account that lowers the value of the related asset. This amount shows the total depreciation…
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Rich vs Wealthy: Is There a Difference?
Rich vs Wealthy: Is There a Difference? Rich means having a high income and the ability to buy a lot of STUFF, but true WEALTH involves lasting financial stability and freedom. While being rich is often about current earnings (e.g., being a doctor or dentist), being wealthy means having assets that generate ongoing income, ensuring long-term security.…
