New Dentist looking to create a retirement plan for myself thru real estate

[Kyle Jenson]

Hello guys, I found this page through the podcast and the book, Rental Property Investing. Like my title says, I am a dentist in the Kansas City area and am looking at real estate to be my retirement plan. I have been reading many books on finances, rentals, and real estate and feel this is an area I can have more "control" over my investment rather than placing it all in my 401k and hoping for the best. 

With that said, I am in the position where I will not need a monthly income from my rentals. Just looking for some stability and great ways to build equity. Obviously cash flow would be wonderful, but not necessarily needed. I have listened to a podcasts with other doctors talking about this, Anywhere else I can find info or advice or strategies on similar situations? Thank you all. 

Kyle

[Travis Timmons]

Real estate does not pay you well if you need the income for the first few years. The only real, dependable income comes from a property that is a lot of work (well performing short term rental), one that is paid off, or one that you have owned for a long time to see rent appreciation. 

I look at real estate as fixed income with the goal of 50/50 fixed income (real estate) vs. index funds. If you are looking for an additional resource, I recommend looking into Wes Moss's work. His roadmap for retirement is $500k liquid assets, paid off primary home, and more than 1 income source (real estate, part time job, social security if old enough, etc.). That seems to be a pretty realistic view. The "retire off of real estate" crowd on the internet mostly spouts nonsense or has something to sell. 

I have nothing to sell and would be happy to help if you think that I can be a resource. I was fortunate enough to hit financial independence/early retirement a year ago at 42 with a family to support. It was mostly due to my day job income and low cost of living over a long period of time; however, real estate accounts for about 50% of our income through a small portfolio of short, mid, and long term rentals.