MD co ‘20 Residency Panic Thread

[Oedipa Maas]

I'm moving from a high COL area to a much lower COL area and I'm flirting with the idea of buying a house because they're cheap. I know that it's theoretically the better financial move on paper but in practice I'm sure there's much more headache in the short term. Since residency is stressful at baseline, I suppose I want to minimize outside stressors to the greatest extent possible and dealing with mortgages, insurance, doing all the repairs myself, etc. might be excessive. That said, how cool would it be to own my own house? I've always dreamed of that. I think about all the money I've spent on rent in my life and how I'm NEVER getting it back. And I've always wanted to have my own property with a lawn and a house that I can power with solar panels. Plus, we're going to be on a two-resident salary which is vastly more money than I've ever had in my life. But I digress, maybe I should just rent and make my life easier in the short term, and dare to dream when I'm an attending.

We just had a financial planning session where the advisor's "rule of thumb" was if you are looking at real estate as an investment, you won't get any kind of return on it unless you are going to keep it for 5+ years. Before then, it is likely to be a net loss.

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[rukia013]

This is a super dumb question but for lab coat sizing, are you supposed to choose a size bigger than what you wear to accommodate for having to wear the coat over your clothes or is that already taken into consideration with the size? My current white coat is size 0 and fits fine over my clothes (I am a tiny bean) but idk if the sizing is different for long white coats.. Basically I'm trying to decide between XS (size 2-4) vs. XXS (size 0-2) and unlike my med school orientation there isn't an option to try on the sizes and change if necessary..

 

[Oedipa Maas]

Aaaaaaand my partner just got laid off as the business will be completely shut down for at least 2 months due to COVID. I wasn't worried about moving before, but I am now. We are both currently salary-less and wouldn't you know it, no one is hiring someone for 2 months only during a pandemic.

 

[HowAreYaNow]

Aaaaaaand my partner just got laid off as the business will be completely shut down for at least 2 months due to COVID. I wasn't worried about moving before, but I am now. We are both currently salary-less and wouldn't you know it, no one is hiring someone for 2 months only during a pandemic.

Oh man I'm so so sorry.

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[samac]

Aaaaaaand my partner just got laid off as the business will be completely shut down for at least 2 months due to COVID. I wasn't worried about moving before, but I am now. We are both currently salary-less and wouldn't you know it, no one is hiring someone for 2 months only during a pandemic.

I'm so sorry!

 

[solitarius]

I heard Amazon, grocery stores, and delivery is hiring.

 

[Oedipa Maas]

Oh man I'm so so sorry.

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I'm so sorry!

Thank you both. I know it will ultimately be ok and we can coast on my resident salary for a bit since the area is decently low COL. Thankfully I haven't fully spent all of my loan money yet and he has some savings. But I guess the cross country move will probably be more imminent now once he finds a job out there. Weird times.

 

[samac]

So I'm just using yall to vent.
I had the inspection on the townhome I wanted to buy today. On the surface it is renovated, but turns out the furnace is from 1984 (!! when it was built!), the heat pump is from 2000 and the water heater is 10 years old. In the inspection all pieces are "near the end of their lifespan". The price I gave was for what I thought was a renovated townhome. I'm considering now what to do, offer a reduced price, run away, or what. Adulting isn't fun.

 

[CyrilFiggis]

So I'm just using yall to vent.
I had the inspection on the townhome I wanted to buy today. On the surface it is renovated, but turns out the furnace is from 1984 (!! when it was built!), the heat pump is from 2000 and the water heater is 10 years old. In the inspection all pieces are "near the end of their lifespan". The price I gave was for what I thought was a renovated townhome. I'm considering now what to do, offer a reduced price, run away, or what. Adulting isn't fun.

Are you matching close to where you went to school? If so, why the rush? If not, how did you even find it that quick and view it in person?

 

[samac]

Are you matching close to where you went to school? If so, why the rush? If not, how did you even find it that quick and view it in person?

Not where I went to school, but I'm back home and it's 30 minutes away. No particular rush, I just really liked this place on the surface. The market in this town is fast, the average property lasting about 2 days. Starting all the process now puts closing in May. The old guts of the home just gave my stomach knots.

 

[Matthew9Thirtyfive]

Not where I went to school, but I'm back home and it's 30 minutes away. No particular rush, I just really liked this place on the surface. The market in this town is fast, the average property lasting about 2 days. Starting all the process now puts closing in May. The old guts of the home just gave my stomach knots.

Run.

 

[Oedipa Maas]

So I'm just using yall to vent.
I had the inspection on the townhome I wanted to buy today. On the surface it is renovated, but turns out the furnace is from 1984 (!! when it was built!), the heat pump is from 2000 and the water heater is 10 years old. In the inspection all pieces are "near the end of their lifespan". The price I gave was for what I thought was a renovated townhome. I'm considering now what to do, offer a reduced price, run away, or what. Adulting isn't fun.

I am looking to rent, not buy, but I have been so annoyed seeing "RENOVATED" in a title and then my first thought is "uh....in the 80s? because that is nasty". I would really like to go a day without seeing horrible carpet in a historic building, coin op (NO!) laundry in an unfinished basement, "ample" street parking, or what I have been calling "chaos kitchens".

 

[samac]

I am looking to rent, not buy, but I have been so annoyed seeing "RENOVATED" in a title and then my first thought is "uh....in the 80s? because that is nasty". I would really like to go a day without seeing horrible carpet in a historic building, coin op (NO!) laundry in an unfinished basement, "ample" street parking, or what I have been calling "chaos kitchens".

I will give the folks this I REALLY thought it was renovated. The kitchen had been completely redone, they made a fantastic island, beautiful white cabinets, new floors put in that are gorgeous, great sinks in the bathrooms, tub was old but I was ok with that. New stainless steel light fixtures throughout. Honestly, the place is beautiful. I couldn't see the water heater as it was behind a stacked washer and dryer. I had no idea how to look at a furnace. But I was floored they put all that work into the aesthetics and didn't update one damn thing behind the scenes.
I can rent a place in the same townhome block for $50 less than what my mortgage+insurance+HOA would be AND THE DAMN HVAC IS UPDATED

 

[Oedipa Maas]

I will give the folks this I REALLY thought it was renovated. The kitchen had been completely redone, they made a fantastic island, beautiful white cabinets, new floors put in that are gorgeous, great sinks in the bathrooms, tub was old but I was ok with that. New stainless steel light fixtures throughout. Honestly, the place is beautiful. I couldn't see the water heater as it was behind a stacked washer and dryer. I had no idea how to look at a furnace. But I was floored they put all that work into the aesthetics and didn't update one damn thing behind the scenes.
I can rent a place in the same townhome block for $50 less than what my mortgage+insurance+HOA would be AND THE DAMN HVAC IS UPDATED

That is so frustrating, I'm sorry. Hopefully the right place is just around the corner.

 

[123tcp]

So I'm just using yall to vent.
I had the inspection on the townhome I wanted to buy today. On the surface it is renovated, but turns out the furnace is from 1984 (!! when it was built!), the heat pump is from 2000 and the water heater is 10 years old. In the inspection all pieces are "near the end of their lifespan". The price I gave was for what I thought was a renovated townhome. I'm considering now what to do, offer a reduced price, run away, or what. Adulting isn't fun.

That’s fascinating... yup! I would put the cost of replacing all that and reduce the offer based on the estimate... I could go 50% or 60-40%...

I have question, are you using your offer letter/contact in securing a loan? Allthe lenders including the banks are asking for my contract... still waiting on my program to send me one or direct me on how to proceed.

 

[samac]

That’s fascinating... yup! I would put the cost of replacing all that and reduce the offer based on the estimate... I could go 50% or 60-40%...

I have question, are you using your offer letter/contact in securing a loan? Allthe lenders including the banks are asking for my contract... still waiting on my program to send me one or direct me on how to proceed.

Yeah I may decrease my offer by about 5000, it'll be at least over $8000 to replace it all. It might last for the next few years. I'm not sure, but I definitely don't want to stay at where I was.

I used my match letter initially to get the process started along with the program's stipend information. I reached out to my program about when the official contract came out and they gave me an official offer letter. That worked for the lender. PS the range I was quoted was 3.8-4.5% for a physician mortgage. I'll likely be on the 3.8% end.

 

[123tcp]

Yeah I may decrease my offer by about 5000, it'll be at least over $8000 to replace it all. It might last for the next few years. I'm not sure, but I definitely don't want to stay at where I was.

I used my match letter initially to get the process started along with the program's stipend information. I reached out to my program about when the official contract came out and they gave me an official offer letter. That worked for the lender. PS the range I was quoted was 3.8-4.5% for a physician mortgage. I'll likely be on the 3.8% end.

I think I may have to contact my program of a letter. The house I really like may not last on the market.

They gave me 3.3% for physician loan once I get the offer letter and contract... they assured it wouldn’t change much from 3.3%.

Goodluck and thanks for your reply.

 

[Matthew9Thirtyfive]

Yeah I may decrease my offer by about 5000, it'll be at least over $8000 to replace it all. It might last for the next few years. I'm not sure, but I definitely don't want to stay at where I was.

I used my match letter initially to get the process started along with the program's stipend information. I reached out to my program about when the official contract came out and they gave me an official offer letter. That worked for the lender. PS the range I was quoted was 3.8-4.5% for a physician mortgage. I'll likely be on the 3.8% end.

Just for another perspective, I have two friends who bought houses. Within two years, one had to spend $5k to replace a fence and the other had to spend $10k to replace the AC. It’s bad enough unforeseen **** that pops up can cost so much money. I wouldn’t want to go into a house knowing I’m going to have to drop money on it just to live in it.

 

[samac]

Just for another perspective, I have two friends who bought houses. Within two years, one had to spend $5k to replace a fence and the other had to spend $10k to replace the AC. It’s bad enough unforeseen **** that pops up can cost so much money. I wouldn’t want to go into a house knowing I’m going to have to drop money on it just to live in it.

That’s a very good point. Those are things I know I would have to do, who knows what else might come up. It’s probably just better to just pass and watch the market. I’m so glad I got the inspection though!

I think I may have to contact my program of a letter. The house I really like may not last on the market.

They gave me 3.3% for physician loan once I get the offer letter and contract... they assured it wouldn’t change much from 3.3%.

Goodluck and thanks for your reply.

It might go down at this point? This was quoted to me last Friday, when for some reason the market was up, and the market tanked again this week. It’s all over the place for mortgages right now.

 

[CyrilFiggis]

. PS the range I was quoted was 3.8-4.5% for a physician mortgage. I'll likely be on the 3.8% end.

did they only offer a 30-year fixed rate? I got offered both 7 & 10 year ARM down to 2.4%. We don’t plan on staying that long so I’m taking that.

 

[samac]

did they only offer a 30-year fixed rate? I got offered both 7 & 10 year ARM down to 2.4%. We don’t plan on staying that long so I’m taking that.

I tried with a couple different companies and for physician loan they’d only do 15. I can’t get a traditional mortgage. No income real income history.

 

[deleted407021]

Who else is bewildered by this NPI number application?

 

[Oedipa Maas]

Who else is bewildered by this NPI number application?

Someone on reddit said this was a good guide. I haven't gotten info to start this process yet so I don't know if that is true but I figured I would share! http://www.fresno.ucsf.edu/resident_orientation/forms/NPIInstructions.pdf

 

[rukia013]

Who else is bewildered by this NPI number application?

My program sent us a photo step by step guide so that we'd know what to fill in for some of the sections (ie. primary clinic site) but even so I agree that it was incredibly tedious.

 

[deleted407021]

Someone on reddit said this was a good guide. I haven't gotten info to start this process yet so I don't know if that is true but I figured I would share! http://www.fresno.ucsf.edu/resident_orientation/forms/NPIInstructions.pdf

Thanks!

 

[Helper3]

Yeah I may decrease my offer by about 5000, it'll be at least over $8000 to replace it all. It might last for the next few years. I'm not sure, but I definitely don't want to stay at where I was.

I used my match letter initially to get the process started along with the program's stipend information. I reached out to my program about when the official contract came out and they gave me an official offer letter. That worked for the lender. PS the range I was quoted was 3.8-4.5% for a physician mortgage. I'll likely be on the 3.8% end.

You should definitely get an inspection done & they will be able to tell you some more information on how long they think the life of those things are. You can also call the manufacturer and ask. Also don't forget to check out the rent vs buy calculator on nytimes webpage you can adjust the rates and home cost etc and they give a general break down. I also wonder if you could get lower rates if your parents cosign - just another strategy. We are looking at these issues now too. Here is that calculator link Is It Better to Rent or Buy?

 

[Matthew9Thirtyfive]

Who else is bewildered by this NPI number application?

Speaking of NPI numbers, Headspace is giving its service away for free to physicians for right now.

 

[deleted407021]

Speaking of NPI numbers, Headspace is giving its service away for free to physicians for right now.

Is that that mindfulness thing I see advertised on the little tablets in PCP exam rooms?

 

[Matthew9Thirtyfive]

Is that that mindfulness thing I see advertised on the little tablets in PCP exam rooms?

Possibly. It's a mindfulness and meditation app. It has stuff for relaxing, going to sleep, waking up, soundscapes, etc. It's actually really cool. I was never into meditating until my wife made me try the headspace app. It is really great for just keeping a baseline calm. They have meditations that are as short as 3-5 minutes.

 

[samac]

Who else is bewildered by this NPI number application?

I don’t really know what I did but I skipped everything that was optional and they sent me a number lol

You should definitely get an inspection done & they will be able to tell you some more information on how long they think the life of those things are. You can also call the manufacturer and ask. Also don't forget to check out the rent vs buy calculator on nytimes webpage you can adjust the rates and home cost etc and they give a general break down. I also wonder if you could get lower rates if your parents cosign - just another strategy. We are looking at these issues now too. Here is that calculator link Is It Better to Rent or Buy?

I learned all this through the insepection. He actually stated that the furnace is the oldest he’s ever seen functioning. They wouldn’t lower or anything so I jumped ship. At worst I rent. Thanks for the resources!

 

[deleted407021]

I don’t really know what I did but I skipped everything that was optional and they sent me a number lol

I learned all this through the insepection. He actually stated that the furnace is the oldest he’s ever seen functioning. They wouldn’t lower or anything so I jumped ship. At worst I rent. Thanks for the resources!

Yeah I figured it out and did exactly that haha

 

[Ducant]

I still havent gotten anything from my program except for an orientation schedule.

 

[Matthew9Thirtyfive]

I don’t really know what I did but I skipped everything that was optional and they sent me a number lol

I learned all this through the insepection. He actually stated that the furnace is the oldest he’s ever seen functioning. They wouldn’t lower or anything so I jumped ship. At worst I rent. Thanks for the resources!

Smart move. Tbh renting is better anyway.

 

[Ducant]

My life at this point in time:
Watching Roy Halladay’s perfect game because it is being aired on tv today...

 

[HowAreYaNow]

My life at this point in time:
Watching Roy Halladay’s perfect game because it is being aired on tv today...

I'm finally watching Tiger King. Start of ep 2 and this is wild.

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[samac]

I'm finally watching Tiger King. Start of ep 2 and this is wild.

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I’m on episode 4.

 

[MerYangBey]

Wow got hit with a lot of paperwork today. Hello anxiety.
Curious how easy the health screenings and drug screens and stuff will be to do at this time.

 

[HowAreYaNow]

Wow got hit with a lot of paperwork today. Hello anxiety.
Curious how easy the health screenings and drug screens and stuff will be to do at this time.

My guess: not very

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[Ducant]

Wow got hit with a lot of paperwork today. Hello anxiety.
Curious how easy the health screenings and drug screens and stuff will be to do at this time.

Yeah, it wont be easy considering most PCPs aren’t seeing non-urgent cases.

 

[MerYangBey]

Yeah, it wont be easy considering most PCPs aren’t seeing non-urgent cases.

I think if I cry on the phone a little it might help.
Anyone not get a confirmation email after submitting their NPI thing?

 

[sharkbyte]

I think if I cry on the phone a little it might help.
Anyone not get a confirmation email after submitting their NPI thing?

Same boat. Submitted mine yesterday afternoon, no confirmation email. Assuming (hoping?) it'll work out alright

 

[sharkbyte]

I'm glad residency still isn't for another 3 months but damn, the thought of real responsibility and long hours kind of scares me. I kind of want to go back to junior and senior years of undergrad when I was 20-21, hung out with my best friends almost every day and just had to worry about midterms and finals lol

 

[HowAreYaNow]

I'm glad residency still isn't for another 3 months but damn, the thought of real responsibility and long hours kind of scares me. I kind of want to go back to junior and senior years of undergrad when I was 20-21, hung out with my best friends almost every day and just had to worry about midterms and finals lol

The second semester of my senior year was some of the best months of my life. Rolling out of bed at noon, just being aimless. God I miss it.

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[MerYangBey]

Same boat. Submitted mine yesterday afternoon, no confirmation email. Assuming (hoping?) it'll work out alright

Okay so weird thing. I didn’t get an email but when I go to the main page there is an NPI number. And when I search myself in the npi registry I come up with a number.
Ok update- on the main page, under action, there is an envelope with a green arrow on it. It sends the enumeration notification. So if you have a number and they don’t send you the email, if you click that a few times lol. They’ll send you an email.

 

[DokterMom]

Hopefully this helps those looking for housing remotely... Found a place we are interested in and would sign up for it if possible but feel at a disadvantage being remote + they are hosting an open house today and tomorrow... what to do what to do...

If you're renting - sure. But I could never recommend buying without seeing the place in real life.

I do think @samac's onto something about timing, though. People are nervous right now, and it wouldn't surprise me a bit if prices reflected that. While you won't be making much money in the immediate future, at least your jobs are secure and predictable in the short term and your long term prospects are excellent.

There are a few threads here about buying versus renting in residency, and the breakpoint seems to be around 5 years. Before deciding to buy though, do check out that NY Times Buy or Rent calculator that was mentioned above.

I haven't even begun to think about it. I certainly don't have enough money to hire a moving company. However, I also don't have enough money to just get a UHaul. I think I'm going to end up giving away a lot of the big items that are ungainly to move and just bringing some of the smaller stuff.

A lot of people do that. Or take whatever can fit in a U-Haul truck and donate the rest. Craigslist in your new locale -- Some of the graduating residents may be getting rid of stuff also, so if there's a way you can check, that can be very worthwhile.

 

[sharkbyte]

Okay so weird thing. I didn’t get an email but when I go to the main page there is an NPI number. And when I search myself in the npi registry I come up with a number.
Ok update- on the main page, under action, there is an envelope with a green arrow on it. It sends the enumeration notification. So if you have a number and they don’t send you the email, if you click that a few times lol. They’ll send you an email.

Perfect, thanks! Also just searched myself in the registry and it shows a number.

The second semester of my senior year was some of the best months of my life. Rolling out of bed at noon, just being aimless. God I miss it.

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Amen to this. I distinctly remember during February of my senior year, while long boarding over to a friend's apartment to order in some food and chill, I had one of those thoughts like "wow, this is gonna end in a few months. Gotta make the most of it." And sure enough, it went way too fast and now it's been 5 years. All the weekend road trips, late nights just talking and laughing about whatever, getting great food and going out. We're never gonna get those back

 

[deleted731525]

I think if I cry on the phone a little it might help.
Anyone not get a confirmation email after submitting their NPI thing?

I got an email with an npi number like 20 minutes later, and then a few hours after that I got another email saying a request for an NPI number or request for a change was received. Im not sure if that was the confirmation email which just came late or if i entered something in wrong and the NPI number they sent me is no longer valid.

 

[samac]

I got an email with an npi number like 20 minutes later, and then a few hours after that I got another email saying a request for an NPI number or request for a change was received. Im not sure if that was the confirmation email which just came late or if i entered something in wrong and the NPI number they sent me is no longer valid.

Same thing happened. Just assumed the confirmation came late.

 

[ciestar]

Hiatus over i suppose.

So dreadfully bored

 

[123tcp]

Hiatus over i suppose.

So dreadfully bored

not to worry soon we’ll miss being bored.