By Dr. James M. Dahle, WCI Founder
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Interest in real estate investing among physicians and other high-income professionals seems to be at an all-time high. Many people are learning that investing in real estate can be more than just buying a house, fixing it up, and then trying to rent it out or sell it at a higher price. You don’t actually need to have ownership of a property to make money in this asset class.
There’s no doubt that some of this new interest has come from the exceptional returns that real estate, like stocks, has had over the last decade. It also helps that private real estate, at least, seems to have weathered the 2022 stock bear market and the inflation crisis relatively well so far. Some of this interest may be fed by physicians who are running syndications, real estate investing groups, and real estate courses. We also may be partly responsible, as we have picked up a fair number of real estate investing companies as website and podcast sponsors in the last couple of years.
However, I don’t think any of these really explain the phenomenon.
I think the interest really comes from two things. First, doctors have realized that their income is very vulnerable. The volume and corresponding income cuts in the spring of 2020 during the early months of the pandemic were substantial and sobering for many of us in private practice. Meanwhile, the burnout epidemic has done nothing but worsen. With burnout rates in the 50% range, the biggest financial risk to physicians is losing their ability to earn due to burnout. That risk is at least three times higher than becoming disabled, but you cannot buy burnout insurance like you can disability insurance.
At the same…
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