All Forum Posts by: Pamela Starnes

@Drew - I thought The Passive Income Physician was @Thomas Black (?).   (Sorry it's not tagging)

Also a physician involved actively and passively in RE and run a site/blog with real estate investing resources, educational pieces, and opportunities in passive investments. Happy to share anything helpful from my experience with others here looking to get started or continue their RE journey.

@George Ozoude - Hi George.  Yes, I continue to practice medicine and also participate in real estate both passively and actively.  It really depends on what your goals, interests, career flexibility are as to what makes the most sense for your path in real estate.  For me, that has meant cutting down some on clinical practice both out of flexibility to do so, a desire to be around more for my young kids, and also out of an interest in doing more in real estate.  But it has been an evolving path and I'm sure you will sort out your own way based on your own life circumstances.  Happy to pick up the conversation further and share whatever is helpful for you if you want to message me!

@Shiloh Lundahl - I didn't see the other post which you responded in reference to, but I liked your response in summary that medical professionals invest in real estate for the same reasons everyone else does.....so true.  Once one realizes the benefits of smart leverage, disassociating the direct trade of time for money, the variety of tax benefits, etc. it's pretty much a no-brainer.  BTW, I enjoyed your BP podcast episode this past week....good job!

Thanks Frank!

Has anyone dealt with an insurance company requirement for installing safety bollards at the perimeter of a building?  In this case it is a property I have had for several years (new carrier this year); seems a bit unnecessary for a property that has been there for many decades without needing them.  Not sure if the cost of installation or switching carriers is a better option.

I have a bridge loan on a property that I am now trying to refinance.  My bridge loan contract includes a payoff fee if I do not utilize the same lender to refinance through.  I wasn't thinking this would be any issue since I have financed multiple properties through them, but in this case for unique reasons does not look like they have a lender in their network that can refinance this.  Wondering if this is still a legitimate fee they can charge me if I have to refinance with another company because they don't have the ability to get the refinance done.  Any thoughts/suggestions would be appreciated!

@Gary Miller - Hi Gary and welcome to BP!  I am also a physician and RE investor and think it's great that you are looking at options outside of medicine to build your wealth.  Like many things in life, there are many ways to go about this RE thing and you seem to be on the right path to sorting out the variables to help you determine the best approach for yourself.  As you mentioned, taxation of whatever income you generate is an important element in your consideration which is why I also prefer rental income over interest income with nonretirement funds.  I would also suggest a consideration of how scalable your chosen strategy is/will be given how much money you anticipate investing in RE as it might be more efficient to go through 1 or 2 transactions on larger properties versus half a dozen or more transactions on single family homes depending on your goals.  My feeling is that multi-family is still manageable even with your full-time job as long as you are able to find quality property management and the numbers still work factoring in PM expense.  Participating in private placements via syndication would probably also be a good option given your situation as it could also be tax advantaged and also be very passive once you find a sponsor you are comfortable investing with.

Feel free to PM for any specific questions you might have as you go along.  All the best to you!

Hi @Adam W. - Welcome to BP!  I'm also a Southern California based physician/RE investor.  You will definitely find everything you need to get started on this site.  Between the forums, blogs, podcasts, etc. you will be able to sort out what your best investing strategy should likely be and how to get started or who to connect with to make that happen.  Feel free to reach out with any particular questions along the way!   

Welcome to BP @Nicholas Pfleghaar from a fellow physician and RE investor!  Feel free to connect with any questions!  Cheers...

@Michael Swope.....Depends on what type of property you are looking for and what you want out of your investment there, but definitely good opportunities for cash flow properties.  I'll PM you and am happy to answer any particular questions I can that might help out in your situation.