Most of us perceive doctors as individuals who are wealthy by default. But while they may earn comfortable salaries, that doesn’t automatically ensure financial freedom. They are subject to long hours and their income is tied to substantial taxation. This is one of the primary reasons why passive investing should form a key part of any doctor’s financial plan. Here today to help us further understand this topic is Dr. Calvin Lowe, MD. Dr. Lowe specializes in pediatric emergency medicine at Children's Hospital in Los Angeles and is the founder of PEACEquity, LLC, the family real estate firm that he manages along with his wife. In our conversation, Dr. Lowe breaks down how his career in medicine fine-tuned his rapid decision-making skills, why it’s essential that you employ a CPA who specializes in real estate and tax, and how investing in real estate has helped him prepare for retirement. Tuning in, you'll also hear Dr. Lowe share the story behind how he first discovered his talent for being an Elvis tribute artist and why he hopes never to use it as his fallback career! Join us for a wonderful conversation on the privileges and challenges of being a medical professional and why it partners so well with multifamily real estate investing!
Key Points From This Episode:
- Get to know today’s guest, Dr. Calvin Lowe, MD.
- Dr. Lowe shares what it’s like to be a pediatric doctor in an emergency room context.
- Understanding the acronym HENRY (High Earners Not Rich Yet), and how this concept applies to doctors.
- The high impact that taxes have on doctors.
- Why doctors can benefit so much from a passive income.
- The biggest challenges facing doctors professionally, personally, and health-wise.
- How doctors typically approach investment decisions.
- How Calvin started investing in multifamily real estate.
- Learn the story behind the name PEACEquity, LLC, Calvin’s family business.
- A brief summary of what it means to defer your taxes.
- How your taxes are affected by real estate investments.
- Why it’s crucial to have a CPA who specializes in real estate and tax.
- An overview of Calvin’s retirement plan.
- How Calvin discovered his surprising talent for being an Elvis tribute artist!
Links Mentioned in Today’s Episode:
Vertical Street Ventures: Academy
Passive Income Through Multifamily Real Estate Facebook Group