Will I have time to invest in real estate, etc. as a physician?

[futureMD4294]

Hey I am beginning to apply to medical schools and I was wondering something important. As a pediatric, family, or dermatology physician, will I have time to invest in business such as resteraunts and real estate. Buying and selling property is mine and my family's hobby. I would love to spend some time doing so.

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[JustaDO]

I'm honestly curious, what do you think the answer to this question is?

 

[futureMD4294]

I'm honestly curious, what do you think the answer to this question is?

Haha the ideal answer would be, it is possible for some occasional work if most of my contacts are dealth with by rest of family in weekday and I work on weekend business.

 

[Leo_45]

My good friend's father is a physician and I know he's involved with real estate on the side, so it does seem possible! Granted he's in private practice and has worked a lot on setting up a nice schedule of seeing patients 3 days a week. Completely anecdotal, but it's doable.

 

[RogueBanana]

I know several physicians who are high level investors. In fact, my firm deals almost exclusively with high level surgeon investors. You will have time, especially once you establish yourself and become an attending.

 

[Kurk]

That's a relief

 

[baratheonfire]

I know several physicians who are high level investors. In fact, my firm deals almost exclusively with high level surgeon investors. You will have time, especially once you establish yourself and become an attending.

Firm?

 

[Law2Doc]

I know several physicians who are high level investors. In fact, my firm deals almost exclusively with high level surgeon investors. You will have time, especially once you establish yourself and become an attending.

They may call themselves "high level investors" but their brokers likely see them as patsies. In good economies they'll do as well as everyone else, in bad they'll be taken.

It's nice to pretend you are a master of many things but frankly in and out of medicine you'll rarely be on par with the guys who live, eat and breathe something 24/7. Just like a doctor who dabbles in another specialty is likely to get burned, doctors who pretend they can do other investment careers part time but at a high level are usually kidding themselves. They'll talk a big game but their brokers and financial advisors know better, and see them as rubes who have wandered from the kiddy pool to the deep end, deluding themselves that they can swim like Phelps.

 

[Jalby]

Go read white coat investor. It has all kinds of good information.

I would NEVER recommend investing in anything but real estate, mutual funds, and your own business. I know a bunch of doctors who lost most of their money investing in things that they don't know about (their friends businesses, subway franchises, etc, etc)

I am actually selling all my stocks and going to buy condos in certain places that I think will improve more than other places. I grew up in LA and am willing to make a 20 year investment. I plan on moving into each condo for 6 months to get the good mortgage rate and then renting them out forever.

Since I became an attending I have been living at 50% of my salary. I purchased a home 2.5 years ago that was about 1/3rd of what I could get a mortgage for. I've saved the rest. When you go from a resident to an Attending, for a little while don't change your lifestyle.