Best strategy for physicians looking to invest?

[Malcolm Chelliah]

Hello there, new to this community. I have been listening to a lot of the BP podcasts and youtube videos for the last few weeks. My husband and I are both in medicine. Next year he will be an attending and I will be starting my residency and we are planning to get into real estate investing with the increased income we will have. When Im reading about many people doing real estate full time, its unclear if their income is growing to the level that will replace what our expected income will be once we are both finished with training. 

Our goal is to build financial wealth (and I have ethical issues with doing that through medicine exclusively) however my question is in our situation, does it make more sense to use our surplus income to invest along side investors who do this full time or is it still worth it to strike out on our own one day try to replace over 500k income annually that would eventually be passive

[Michael Ablan]

@Malcolm Chelliah  Welcome and congratulations on the amazing jobs!

I'd say it comes down to your goals.  I'd have to imagine you went through the grueling schooling/interning process because you're truly passionate about whatever you're specializing in.  My understanding is you'll be working pretty crazy hours, and very frequently.  You might have the energy to learn and squeeze in real estate investing, or you may not.  

I know several doctors who do several different things to get into the business.

1. Some loan their money for profit share in deals, high interest rates or equity splits
2. Some purchase turn key (fully rehabbed property with tenants and property management in place) and just sit back and collect a check
3. Some partner up with people who CAN do it full time and provide the financing/w2 income for bank loans

Whether or not you want to build an empire that completely replaces your w2 income, or simply supplements you're current income will totally be up to you.  You'll figure that out as you go along with the process.  

Just make sure to go slow and be SUPER careful about who you do business with.  Spend more time vetting them than anything else you do in this business.  Lots of con artists out there.

Good luck!