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I'm FREE! To do what I want, any old time!

Karyn T.
Investor · Bellingham, WA · Member since 2013 · 210 posts · 138 votes

That's right!  Corporate downsizing even happens to doctors!  As of this past Wednesday, I was downsized....so I have 4 months, at full pay, to figure out what I want to do when I grow up!  I am waffling between opening my own small clinic (I will NOT be employed, ever again) and diving head first into full-time real estate.  Financially, each route is equally as terrifying, but I truly believe that, in time, RE investing would be much more satisfying, less worrisome, and less litigious than medicine (not implying in ANY way that there is no worry or litigation in RE...but that it is of a MUCH different caliber).  I am working on finishing up my RE licensing requirements in OR and WA (I put them on hold because I was too busy with work) and now have to decide where to start.

Even if I open my own little clinic, it will be a MUCH different animal than my current job description, and I would still be getting much more involved in the local real estate scene (mostly because I'm moving back to Washington again...where there actually IS a real estate scene!  Hi @Brandon Turner!!)

4 months to Show Time!! :)

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  • Michael Seeker
    Investor · Louisville, KY · Member since 2011 · 1k+ posts · 1k+ votes
    11y

    @Karyn T., good luck with the transition!  Hopefully you've got enough of a cushion set aside to not have to worry significantly about the change.

    As for which direction to go, I'd say go with whichever you think would be most gratifying at the end of the day.  Both would be able to set you up well financially in the long run.  If you've got more passion for one over the other then I'd say go with that.  Both will be a challenge to get going in the short-term and could be extremely lucrative and rewarding in the long run.  The question is which would you get more enjoyment out of and be more likely to work through the growing pains?

    0Reply
  • James K.
    San Diego, CA · Member since 2014 · 48 posts · 22 votes
    11y

    I am imagine being liberated of corporate oppression is a wonderful and terrifying feeling.  I have heard of many people who were "nudged" in to following their dreams by that event. So go follow yours!  I don't know where you are in your RE career, but if you are starting out, having a "job" will help you acquire funding and help transition from a doctors salary to a RE investors. It will most likely take some time before they are equal. Good luck in whatever you end up doing. 

    0Reply
  • Michele FischerPro Member
    Rental Property Investor · Seattle, WA · Member since 2013 · 2k+ posts · 1k+ votes
    11y

    Karyn, wishing you all the best, I'm guessing you'll end up in a better place.  We like to stay in our comfort zone even if we can do better.  What part of WA are you moving to?

    Podcast Guest on Show #79
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  • Brandon TurnerPro Member
    Investor · Maui, HI · Member since 2009 · 13k+ posts · 3k+ votes
    11y

    Whoop whoop @Karyn T.! I think both paths would be fine for you. Real estate is a business, just like your medical practice would be. So do what you want for income... but invest in real estate no matter what to build long-term wealth :) 

    And where in Washington?!

    Podcast Guest on Show #92
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  • Karyn T.
    OP
    Investor · Bellingham, WA · Member since 2013 · 210 posts · 138 votes
    11y

    Not sure, @Brandon Turner, but I'll be sure to stop by your rurrrral little area for coffee sometime! :)

    Probably going to be Everett or north....

    0Reply
  • Aaron Ramm
    Investor · Marysville, WA · Member since 2014 · 146 posts · 62 votes
    11y

    YAHOO @Karyn T.!!  That's the push you needed!  I say do both, or just do real estate.  

    -AA

    0Reply
  • Adrian Chu
    Real Estate Broker · Seattle, WA · Member since 2014 · 1k+ posts · 427 votes
    11y
    Originally posted by @Karyn T.:

    That's right!  Corporate downsizing even happens to doctors!  As of this past Wednesday, I was downsized....so I have 4 months, at full pay, to figure out what I want to do when I grow up!  I am waffling between opening my own small clinic (I will NOT be employed, ever again) and diving head first into full-time real estate.  Financially, each route is equally as terrifying, but I truly believe that, in time, RE investing would be much more satisfying, less worrisome, and less litigious than medicine (not implying in ANY way that there is no worry or litigation in RE...but that it is of a MUCH different caliber).  I am working on finishing up my RE licensing requirements in OR and WA (I put them on hold because I was too busy with work) and now have to decide where to start.

    Even if I open my own little clinic, it will be a MUCH different animal than my current job description, and I would still be getting much more involved in the local real estate scene (mostly because I'm moving back to Washington again...where there actually IS a real estate scene!  Hi @Brandon Turner!!)

    4 months to Show Time!! :)

     Best of luck with your endeavors!  And an early welcome back to WA!! :)

    0Reply
  • Michael Morin
    Cape Coral, FL · Member since 2015 · 33 posts · 6 votes
    11y

    good luck in either you choose. 

    0Reply
  • Andrey Y.
    Specialist · Honolulu, HI · Member since 2014 · 1k+ posts · 1k+ votes
    11y
    Originally posted by @Karyn T.:

    That's right!  Corporate downsizing even happens to doctors!  As of this past Wednesday, I was downsized....so I have 4 months, at full pay, to figure out what I want to do when I grow up!  I am waffling between opening my own small clinic (I will NOT be employed, ever again) and diving head first into full-time real estate.  Financially, each route is equally as terrifying, but I truly believe that, in time, RE investing would be much more satisfying, less worrisome, and less litigious than medicine (not implying in ANY way that there is no worry or litigation in RE...but that it is of a MUCH different caliber).  I am working on finishing up my RE licensing requirements in OR and WA (I put them on hold because I was too busy with work) and now have to decide where to start.

    Even if I open my own little clinic, it will be a MUCH different animal than my current job description, and I would still be getting much more involved in the local real estate scene (mostly because I'm moving back to Washington again...where there actually IS a real estate scene!  Hi @Brandon Turner!!)

    4 months to Show Time!! :)

     Congrats Karyn! Just remember, things you enjoy (like lots of cash, credit, and ability to get a low interest loan), may go away when you stop working. Your post really resonated with me, as I am also a physician, but somewhat more early in my career. Real estate is fun, can be profitable, but you'll need more creativity (perhaps have more frustration) without your W-2 income to get financing and some deals, so keep that in mind. Best of luck!

    0Reply
  • George Calbert
    FPO, AP · Member since 2015 · 120 posts · 19 votes
    11y

    @Karyn T.

    Good Luck. If you like being a doctor, open your clinic but have it structured so you have time to do other things you love, i.e. real estate...

    George

    0Reply
  • Elizabeth Colegrove
    Hanford, CA · Member since 2013 · 5k+ posts · 1k+ votes
    11y

    Yeah for options?

    I was off for 13 months due to a navy transfer for my husband. I played but realized I missed my income. So now I have used my inclement and am hard core investing  while developing my blogand business   writing idea! 

    Could you do both? Could you work a couple of days a week and get the w2 while reinvesting in real estate? 

    I am a huge believer in doing it all just not the way normal people do!

    Again congrats and that's great to see your taking it as a positive

    0Reply
  • Account Closed
    Rental Property Investor · Everett, WA · Member since 2013 · 389 posts · 222 votes
    11y

    @Karyn T. if you make it back to Everett we should definitely connect. I have enjoyed many of your posts and now look forward to many more. Congrats!

    And as you know, there will be lots of opportunities in the 425 in the coming years.

    0Reply
  • Karyn T.
    OP
    Investor · Bellingham, WA · Member since 2013 · 210 posts · 138 votes
    11y

    @Account Closed You bet!

    0Reply
  • Julie MarquezPro Member
    Investor · Skagit County, WA · Member since 2016 · 1k+ posts · 807 votes
    10y

    Hello Karyn and congrats! I just wanted to follow up and ask how it has been going for you? Have you found your niche area and what areas have you found success? If you are ever interested in connecting, I am in your area too.

    0Reply
  • Asa Gunderman
    Rental Property Investor · Knoxville, TN · Member since 2015 · 45 posts · 24 votes
    10y
    I would find a good commercial building to buy (maybe a strip mall). Open your clinic in one of the units and rent out the rest to other businesses. You really could do both. Asa
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