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Updated over 4 years ago on . Most recent reply
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Dentistry to Real Estate Investing? Am I crazy?
Hey everybody! First time posting after spending a couple years browsing the comments section. I have worked as a dentist for the last 8 years. Dentistry pays great but it can be a real grind and you don't get paid unless your butt is in the seat. I trade my time for dollars. For the last few years I've really been interested in real estate investing and passive income. I've listened to the podcasts, read the books, etc but either didn't have the time because I was so busy running my dental practice or didn't have the testicular fortitude/confidence to really get started. COVID-19 provided me with some extra free time.
I decided to study for the real estate licensing exam in hopes of getting me off the sidelines and to gain some valuable knowledge, experience and confidence in the process. My hope is to work part time as an agent to get my feet wet and gain said knowledge, experience and confidence. Am I crazy to approach my journey into investing in this way? Any advice? Has anybody else left a job with golden handcuffs to pursue investing?
Most Popular Reply
I think the vast majority of the highly paid professionals should stick to what they are trained to do. There is a huge barrier to entry to become a dentist. There is zero barrier to entry to becoming a real estate agent. You will be throwing away years of schooling, hundreds of thousands of dollars worth of education and earning potential worth millions in the next few years. Do you really think buying rentals with $100/door cash flow is a reasonable plan? Or flipping houses? If I was you (and I kind of was except different high income career) be a dentist, earn big bucks, invest and if you hate dentistry then retire in a few years on passive income. Now if you have your career so much that you want to kill yourself every day, then disregard the above. Nothing is worth being that miserable for. But you chose to be a dentist for a reason right?