Passive income, especially in recent years, has become a popular way to growth wealth. One platform you can use to benefit from passive income is real estate. In today’s Money Checkup, I’ve invited Peter Kim to join me on the show. Peter has taken this idea of passive income through real estate investing, not only to grow his own wealth, but to educate other physicians on how to do it as well. Join us on today’s episode to hear how he’s gotten to where he is today and the information, tips and tricks he passes on to other physicians through his two companies.
Peter is an anesthesiologist living in Los Angeles with his wife and two children. He is the creator of the website Passive Income MD which helps physicians create financial freedom through passive income. He is also the founder of Curbside Real Estate, a service created to help physicians in the home buying process. Peter runs a Facebook group of nearly 5,000 physicians to discuss issues related to passive income called Passive Income Docs.
What We Will Cover
- How Peter got into blogging and investment real estate
- Why so many people are turning to real estate investing as another income
- The importance of passive income in a balanced lifestyle
- The definition of passive income and the amount of work that goes into it
- How going with the crowd on investments can sometimes hurt your financial future
- Your location might be negatively affecting your ability for financial freedom
- Where Peter gained his knowledge around passive income
- What financial independence means for you
- Where to begin if you want to start generating passive income
- Some of the groups to get involved in to learn more about passive income
- The benefits of collective knowledge when learning something new
- The tale of two dads and the different paths they led
- Different types of real estate investment opportunities
- Crowd funding real estate defined and an example of a syndication
- Understanding what a Real Estate Investment Trust (REIT) is
- How the new tax law affect REIT dividends
- What to look for when vetting a syndication deal
- Questions to ask the syndicator during the vetting process
- The definition of an accredited investor
A Financial Goal in the Works
- Turn his business income to more passive income
- Buy another rental property by the end of the year
One Piece of Financial Advice
- Figure out a way to utilize money to maximize your time
Getting Connected With Peter
- Passive Income MD
- Curbside Real Estate
- Facebook (Passive Income MD)
- Facebook (Curbside Real Estate)
Link’s Mentioned
- Rich Dad, Poor Dad
- I’m Financially Independent if I Move Blog Post
- The List of Physician Side Hustles Blog Post
- 10 Ways to Generate Passive Income Blog Post
- Physician on Fire
- White Coat Investor
- My Rich Dad, My Poor Dad Blog Post
Click here if you want to read the transcript instead!
Creating Streams of Passive Income Through Real Estate Investing with Peter Kim (Passive Income MD)
