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DocWorking: The Whole Physician Podcast. Doctors devote their lives to caring for others, but the time has come to prioritize the health and wellness of physicians. As physicians, we make decisions every day about how to prioritize our time, energy, focus, attention, and money. Our lives are in our own hands. But are we making these as conscious choices or are we satisfied with speeding through life in default mode? Hosts Jen Barna MD, Coach Gabriella Dennery MD and Master Certified Coach Jill Farmer interview physicians to explore ways to embrace life AND a medical career, some who’ve chosen a path less traveled and others who have optimized their lives on a traditional medical career path. As coaches from the DocWorking team, Gabriella and Jill discuss actionable tips from their experience coaching physicians. We also invite guests on business, leadership, building financial independence, and other pertinent topics to physicians. If you’re a physician, we want to hear your story! Please email Jen Barna at podcast@docworking.com to be considered. Want to learn more? https://www.DocWorking.com
Episodes
Thursday Nov 03, 2022
Thursday Nov 03, 2022
“One thing I do want to point out to investors is when we look at investments, the first thing we look at is the return. I’m guilty of it because that’s the whole point of the investment to see how much my money can grow. And then maybe the last thing we’ll look at is, oh, who is running it? But I think the more you invest, the more you really look into these, it should be the other way around. It should be who is running the property.”
- Dr. Cherry Chen
Although Dr. Cherry Chen specializes in internal medicine, she’s also an expert in real estate. Dr. Chen is also the founder of The Real Estate Physician, a business she created in 2018 to empower her physician colleagues in commercial real estate investments. Dr. Chen received her M.D. at Texas A&M College of Medicine with honors and completed her training at Oregon Health Science University. She has experience with commercial real estate investments across multifamily, self-storage, manufactured home parks, and as a limited passive investor, as well as raising private equity capital.
After contributing to her 401k and IRA, Dr. Chen grew curious about other investment opportunities outside of the stock market. She was also curious about the potential for early retirement, financial independence, and growing her net worth, even though she was fairly young in her career. Although she loves being a physician, Dr. Chen began wondering what her alternatives would be if she decided to stop practicing medicine and how to make her money work hard on her behalf. This inspired her to pursue real estate and share her wisdom with other doctors through The Real Estate Physician. Through her business, she helps others grow their wealth independent of the time they put in as doctors.
Dr. Chen shares what the process of diving into her first real estate investment was like and how to make intelligent investments. She also highlights the important characteristics investors should consider if they’re interested in passive investments, one of them being a thorough assessment of the property management company. Dr. Chen also explains how syndications work and the advantages they provide to investors. We wrap up by discussing the difference between multifamily investments and commercial investments like self-storage and mobile home parks.
What’s Inside:
- How Dr. Chen became interested in real estate and why she started The Real Estate Physician.
- What investors should look for when considering passive investments.
- Key criteria to assess when considering a property manager.
- What syndications are and how they work.
- The difference between multifamily investments and self-storage or mobile home parks.
Mentioned In This Episode:
Find full transcripts of DocWorking: The Whole Physician Podcast episodes on the DocWorking Blog
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