Browsing Category:Passive Income


White Coat Investor explains how using real estate to pay for tuition can work well for the right person or family, either alone or in combination with the 529.

Today's classic is being republished by White Coat Investor. You can see the original Here.


As regular readers may or may not know, Utah's excellent 529 plan is my primary college savings vehicle. The funds in the plan are invested very aggressively (50% international and 50% low value). There are other, inferior, ways to save for college. Each has its own set of issues, including taxable accounts (high taxes), UGMAs (loss of control), Coverdell ESAs (low contribution limits and no state tax break), and even cash value life insurance (low returns).

One method that I think should be considered alone or in combination with a good 529 plan is to invest in real estate. There are a number of ways to do this, of course, but this post discusses a few ways I think real estate investments could have real value as a savings tool for colleges. I'll talk about the cons at the end, but first let's list …

# 1 The timeframe is right

Real estate is not a good short-term investment. But it can be a great investment in the 10-20 year range, roughly the time you should be saving for college. This is enough time to spread the transaction costs out over many years, get a reasonable appreciation, and go through at least one bull and bear market.

# 2 Returns are high

I am a fan of aggressive investing for college. Although the timeframe is shorter than retirement, the consequences of falling short are so much less that one can afford to be aggressive.

Real estate investments, like equity investments, have a long history of solid returns that can easily range between 8 and 15% per year depending on leverage. Even a not-that-hard-to-find, not-that-hard-to-find Cap Rate 6 property that is increasing in value at 3% per year should produce a total return of 9%.

# 3 Real estate becomes less risky over time

Leveraged real estate investing automatically becomes less risky the closer you get to your goal, simply by paying off the loan. You don't necessarily have to add bonds like many 529 automatic options to reduce risk. If you are using a 15 year mortgage on the property, it may even be fully repaid by the time the child enters college.

# 4 Major Tax Benefits

While I don't think the tax perks of real estate investments are as good as a 529 (you won't get a state tax deduction or credit for contributions, nor will rents and capital gains be completely tax-free forever when used for educational purposes) there are some tax benefits associated with real estate investments.

You can write off the property, and that depreciation over the first few years can make a lot of your cash flow somewhat deferred for tax purposes. The only way to get the depreciation tax free is to die before selling. However, you can still postpone the withdrawal of the depreciation by swapping the equity for a more valuable property after playing the Monopoly game. Of course, all your investment costs (mortgage interest, taxes, maintenance costs, travel to visit the property) are also deductible.

# 5 Three ways to access the money

There are three ways to get the money out so that you can spend it on college.

Sell ​​it

The first is just to sell it. This creates two problems: First, you have to pay capital gains taxes and transaction costs. Second, you will then need to figure out something else to invest the money in since not all of your college savings will be needed at any given time.


The second way to access your money is to borrow for a lifetime. You can get a home loan or a refinance. Aside from the obvious drawbacks of having to pay interest to use your own money, add credit-related fees, and increase the leverage and therefore the risk of the investment, there is some attraction to it; H. No tax consequences.

Use the stream of income

The third way to access your money is simply a source of income. If you bought a $ 100,000 property with a 6% cap and paid off in time for college, it might be worth $ 200,000.

That paid-off property should be paying a rent sufficient, at cost, to pay college expenses of $ 12,000 per year. Of course, you've invested a lot more in this investment than $ 12,000 * 4 years = $ 48,000, especially given the time value of money, but even by the end of your college years you still have an asset that is probably worth even more.

That asset can then be used for retirement, turned into a recreational property, used to pay for the next kids' college, and given as a graduation gift to the child (gift taxes would be levied on such a large gift unless you used a trust to spread the gift Gift over many years) or sold and used to buy something else you want.

# 6 Isolation from stock market returns

Although there is some correlation between the general economy, real estate returns, and stock market returns, real estate sources of income tend to have quite a low correlation with the overall stock market. Combining a stock invested 529 plan with a real estate investment can add real diversification. Obviously, bringing a large wad of money into a single property could be seen as the opposite of diversification, especially with a view to potential appreciation.

# 7 Opportunity to teach the child

One of the things I really like about using real estate as a savings investment for college is the ability to teach the child financial principles. I use my 529 to teach my kids about taxes, stocks, bonds, dividends, appreciation, and compound interest. But I think real estate investment would be even more useful.

I could teach the kids something

  • Rent
  • Inspections
  • Assessments
  • Mortgages
  • interest
  • recognition
  • depreciation
  • Amortization
  • Property Management

and perhaps most importantly, I could teach them about work.

If you manage the property yourself, every time the property needs something, you drag the child into the property to look after the tenants, collect the rent, fix the toilet, paint the fence, etc. " This is your college fund, kid. Better take care of it. “If you buy the property in college town, the kid could become the college property manager and give them the opportunity to work for their income and valuable skills. He could even live on the property and use his select roommates' rents to pay for his own college expenses and build valuable life and business experience.

# 8 Estate planning

Giving the child the property (especially in the beginning when it's not worth much) has the added bonus of making money out of your estate. Obviously, given the large amount of inheritance tax exemption, this isn't a big problem for most doctors in many states, but it is a potential way to lower inheritance taxes. You would obviously lose control of the asset (like you would with a UGMA account), but you could reduce that loss by creating a trust.


This also has a number of drawbacks, especially when compared to using a 529 account.

  • Loss of the tax break on a 529. It's hard to beat an upfront government tax break plus tax-free growth.
  • Loss of liquidity compared to a good 529 invested in stocks. It's relatively easy to get a few thousand out of a 529 every month, semester, or year. It is much more difficult to match your real estate cash flow to your college cash needs.
  • Both home equity loans and selling the home come at significant costs that a 529 doesn't.
  • Real estate investing also requires expertise and skills that buying and holding index funds in a 529 simply doesn't require. It is an inefficient market, and just as there are many people who use their skills, expertise, hard work, and luck to increase their returns, there are many people who because of lack of skills, feelings of happiness, and poor returns achieve hard work.
  • Of course, there is also the problem that real estate investments are partial investments and partial second jobs. While a second job gives you the opportunity to teach your child to work, it also means you will be doing extra work that you wouldn't otherwise do. Maybe you just want to use your time for something else.
  • Even if you're not a handyman, hiring a consultant to manage a 529 is much easier than finding a consultant to buy and manage real estate without your having to make any significant contribution.
  • As mentioned earlier, buying a single investment property instead of thousands of stocks is the classic "put all your eggs in one basket and watch closely" and the "don't put all your eggs in one basket" puzzle. If this property is performing poorly or has significant unforeseen expenses, it may not work nearly as well as a more diversified approach.

These drawbacks are the same whether you are buying real estate directly or whether you are involved in syndicated real estate.

In the end, the most important thing about college savings is to start early, save enough, and choose investments that actually make your money grow significantly faster than inflation in the relatively short amount of time you have. Stock index funds in good 529 are a fantastic option. Selected real estate investments may also work well for the right person / family, either alone or in combination with the 529.

Do you think real estate would work well to pay for your child's college? Why or why not? Comment below!


Here is Journal Club 8-7-20! I hold one every week JOURNAL CLUB. After filtering through the articles on the web, I will present a few that have influenced my life this week. Be safe and stay healthy!


Registration for the Passive Real Estate Academy is only possible for a few days! Don't miss out on creating income streams, regaining control of your time, and practicing medicine on your own terms in the lessons taught in this course. Never wonder if you've checked a deal properly or thoroughly enough again. Sign up here.

  • The COVID-19 pandemic has spiced up a debate that existed long before this virus changed this way of life. The present debate is the debate between private school and cost / value of public school. The medical philosopher shares his opinion on the new version of this debate, which is a personal private school versus a virtual public school. Check out his thoughts on the value, cost and impact of the pandemic on this debate.
  • It's no secret that I think real estate investments are an amazing way to build income streams and gain financial freedom. Therefore, I give a lot of advice and tips on how to do this in this blog. Nonetheless, I always enjoy hearing about the processes of other real estate investors and reading their tips for real estate investments. Millennial Money Man Share 13 Tips For Rental Properties Investing In This Blog Post.

Finally, a little motivation. Have fun and a nice weekend!

Journal Club 8-7-20

Journal Club 6/26/2020 Investor Club

Previous articleHow To Get Infinite Return When Investing In Real Estate


I will be honest; When I first discovered the concept of "infinite returns", it was difficult for me to get involved. I am very familiar with terms like "return on investment" or "annualized return" and use these concepts a lot to determine whether or not an investment is worthwhile.

But an infinite return? It sounded fascinating. . . but it also sounded like another marketing buzzword. However, I decided to delve deeper into this concept and I found it.

What is an Infinite Return?

The definition is quite simple. “Infinite returns” are achieved when you run out of money in a store but still get the benefits of cash flow and other returns (for example, when a property is sold).

Suppose you invest $ 100,000 in a passive real estate business in return for a 10% stake. Over the next few years, your initial capital will be returned to you – your full $ 100,000 – and you can keep the 10% stake.

infinite returnsRegistration is still open for a few days.

Then you will continue to receive distributions and cash flow based on your stake (10%). If the property is sold, you will receive a profit based on your percentage in the future.

By the time you get your full initial $ 100,000 investment back, you have no investment in the business. This money can be spent elsewhere or invested. You can't lose money technically either – everything from that point on is real winnings. It's like the term "playing with house money".

So if the return on investment (ROI) is calculated as follows:

If you've received $ 10,000 in dividends this year but run out of money in the business, you can see where that idea of ​​"infinite" returns came from. You receive investment income without a fixed amount of money and without any risk.

I've found that there are two common ways to get infinite returns, especially on real estate. You are:

  • No money down purchases
  • Pay out refinancing transactions

Let's take a closer look at these.

No money down purchases

A no money down purchase is exactly what it sounds like – you are buying a property with no down payment. Although traditional methods would require you to make a substantial down payment, I know many doctors who have been able to use this method to purchase real estate with great success.

It would be difficult for you today to find a conventional bank that is ready to fund 100% of a purchase so you don't have to pay a deposit. However, if you get creative enough, there are other ways to do it.

For example, I know that investors who had the seller of the property agreed to "pay" the loan for the entire purchase amount. In other words, instead of a bank lending you the money for the investment, the seller commits to sell the property to you. You then pay the seller monthly as if you were receiving a loan from them.

Security is the property itself and conditions are created like a normal bank: the amount of the loan, the interest rate and the term.

If it is a rental property, the investor can get cash flow from the property even if the seller bears the debt. This can lead to an infinite return scenario where no money went into the business initially, but you can benefit from the property's cash flow.

Alternatively, I've seen doctors buy their primary homes with a 0% doctor loan. You then sell the house after it has increased in value and make a profit. All of this without making an initial deposit.

Of course, they usually use the profit to pay a deposit for another house, but that profit was made with a no-money purchase.

Both situations are considered purchases without loss of money and can lead to a scenario with infinite returns.

Pay off refinancing operations

The other situation is a little more interesting for me and more of a strategy that I would like to use when looking for investment properties or passive real estate opportunities.

Here is the process in brief:

  • Someone is buying a rental property
  • Increases its value by increasing the operating result (rehab & renovation, increasing rents)
  • The property is then refinanced at the bank, with the initial down payment and the initial rehabilitation costs being deducted at the same time.
  • At this point, they own the property but have made their initial investment so they have essentially no initial capital of their own in the business

Let's delve a little deeper into this.

How is a property valued?

How is a property valued? Well, a multi-family property is rated by this simple equation:

Operating profit (NOI) is income minus expenses, essentially profit.

Cap rate is a value used to estimate the profitability of a property and is particularly useful for comparing property. Another possibility is that the cap rate is the expected cash-on-cash return on a property (without mortgages or debt payments).

So if you look at the above equation to add value to property, savvy investors are looking to increase operating income. This is done by taking measures to increase revenue, reduce expenditure, or both wherever possible.

Taking these measures is known as "enforced appreciation" or "enforced value creation". It's like taking over a company and improving the way it works, which then increases its value.

Bank refinancing and disbursements

Banks are ready to lend based on a “lending percentage”. For example, if they are willing to lend up to 75% of the value of the property, the amount they are willing to lend increases accordingly as you increase the value of the property.

If you are able to increase the value of the property and refinance yourself in a larger loan, you may be able to get money back.

Here is a simplified example:

Let's say you use $ 250,000 to buy a $ 1,000,000 building. This is achieved through a $ 750,000 loan from the bank. This is a 75% loan: a $ 750,000 loan for a $ 1 million building. (750,000 / 1,000,000)

They renovate the property (spend $ 125,000), improve operations, increase rent, keep costs down and increase the value of the property. In four years, the value of the property has increased from $ 1 million to $ 1.5 million.

You will then find a bank ready to refinance you into a 75% loan valued at $ 1,500,000. That means the bank would be ready to give you a $ 1,125,000 ($ 1,500,000 x $ 0.75) loan.

You take that $ 1,125,000 and pay off the previous $ 750,000 loan, leaving you with $ 375,000 left.

Well, what do you know, your initial investment was a down payment of $ 250,000 and a renovation cost of $ 125,000 for a total of $ 375,000. You pay back the entire $ 375,000 and voila, you now own a $ 1.5 million property that you have no capital of your own.

Oh, and you still get the monthly cash flow. This entire process is tax free until you sell.

This is known as withdrawal refinancing. At this point, you have essentially reached the status of an infinite return. In the future, you will no longer have personal money in the business, but you will have ownership, cash flow, and equity when you sell.

Can you get infinite returns on passive real estate investments?

Absolutely. When I invest in passive real estate syndications, this is one of the strategies I am looking for.

Instead of doing all of the work of finding the property, renovating it, increasing rents, managing expenses, refinancing, etc., now employ a team of professionals to make it happen.

After all, the main goal of all my investments is cash flow and I try to find the right balance to use my time and effort to get the maximum result. What better way to get cash flow than in a business where you no longer have your own funds tied up?

Infinite return on my first syndication investment

I didn't really know what I was doing with my first syndication deal. Fortunately, it became an infinite return situation as you will see below. I will write a detailed post about this in the future, but here's a short one:

On September 12, 2014, I invested $ 25,000 in a syndication agreement for a 1.04% interest in a property valued at $ 6.75 million.

On November 30, 2015, I received $ 13,188.36 in distribution. The sponsors had quickly improved their processes and were able to refinance the property and return part of my capital. That's 53% of my original capital invested, which was returned to me after 14 months, leaving me with 47% of my capital in business.

I continued to receive payouts averaging $ 300-350 each quarter. I occasionally received larger distributions (around $ 4,000 to $ 5,000) because they could give me more capital back.

On March 31, 2018, I received a distribution that exceeded my total accumulated distributions to my initial investment of $ 25,000.

At that point it meant that I hadn't invested any more capital in the deal and everything was pure sauce from that point on. That happened in 3.5 years.

Since then, I've received an average of $ 459 a quarter every quarter, which ultimately equates to $ 1,836 a year. If I were to calculate a return normally it would be $ 1836 to $ 25,000, which is 7%. Not bad, right?

But let's keep in mind, I currently have no investment in the deal. Yes, it's 7% when I think about my initial investment, but technically it is an infinite return on cash flow since I have no money in the business.

Additionally, I still have a 1.04% interest in a building that was just valued at $ 13.49 million. If that sold, I would get a nice profit. However, I am satisfied with the infinite cash flow that I am currently receiving.

Oh, and here's the kicker: it was all tax free. Due to depreciation, I posted negative net rental income every year. If anything, all other passive income gains that I have received are offset.

Should you be looking for infinite returns?

There are many ways to get a high return on investments, especially in real estate. As it turns out, “infinite returns” is much more than a catchphrase. It is a powerful way to maximize return while reducing risk. This is basically the holy grail of investing.

It's also just a strategy when investing in real estate, but it's definitely one of the tools I want to use with new investments.

Do you like this concept? Did you apply this strategy to your investment?

If you are interested in this concept and many others in passive real estate investments that can help you generate cash flow towards financial freedom, take part in our Passive Real Estate Academy, which will show you how to safely invest in real estate without being a landlord. Registration is only possible for a few days.

infinite returns


For those of you who don't know where to start when you're offered passive or private property investment, today's show is for you. I'm talking about syndications or funds. It's about learning to do the right due diligence when deciding which is the best choice for your situation.

One of the first questions you should ask is a debt or stock deal? I have invested in both and would like to give you an insight into each one. In addition to today's podcast, we have created a course that will allow you to safely invest in these real estate deals. You can check it out at

It will help you understand what to invest in and what to avoid. They have an entire community that you can turn to if you need help. You also have access to exclusive checked offers.

Learn with us what is better – a debt or stock deal?

Let's look at five things about debt or equity deals.

  • What is the difference between individual debt instruments and debt instruments?
  • We consider the disadvantage of investing in debt.
  • Invest for ultimate diversification.
  • Real estate tax shelters.
  • What is a share deal?

Here's a breakdown of how this episode develops …

You are essentially a partner in business. You may be a smaller partner, a limited partner, and you are not the so-called general partner, but the person who actually handles the deal.

When buying a rental property there is a so-called depreciation. I've already talked about it, when you buy a rental property, the government basically states that the building itself and all of the things in it have a shelf life. Over time, they will depreciate or depreciate. You can deduct that from your taxes annually or whatever.

Some people like these longer deals so they don't have to keep looking for new deals. But for some people, they know that their money will be tied up for so long, three, seven, or ten years. They don't like that. They prefer to do some of these debt deals where they know their money will only be held for six months, twelve months, or 18 months.

Should I invest in these equity options in retirement savings accounts, and as I mentioned earlier, many people like to do so with these debt options, debt instruments or debt instruments because they do not have to pay these capital gains taxes and can defer them and continue to transact these transactions and receive deferred tax benefits.

I try to be smart. Again, most of the time I try to put the debts on the retirement accounts and omit the stock trades. Sometimes I invest in debts outside of pension accounts. I mix and match to ultimately try to get the desired cash flow monthly.

And if you haven't done so yet, let me know what you think about this episode in one of our Facebook groups: Passive Income Docs or Passive income professionals

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People from all walks of life, including doctors, are increasingly taking on a “part-time job” in their lives. Check out some options and get to work!

Doctor on FIRE it breaks down in today's classic.

Today's classic is published by new Doctor on FIRE. You can see the original Here.

Today's publication is all about "secondary employment". I prefer the term "side appearance" because it sounds a little more relaxed, but to be honest, many of us are busy doing the work that is required for both their primary and secondary jobs.

Whatever you want to call it, people from all walks of life pursue their own entrepreneurship with a little work on the side, and doctors are no exception.

I never thought I would be among them, but here I work part-time in two different jobs. I thought I would wait until this career as a doctor is over before thinking about doing anything else to add to my income, but I saw an opportunity and tried.

I am grateful that I did it. What follows is a guest contribution from Trust Point. We have no financial relationship.

Great first step for real estate investmentsWaiting list discount available for a few days.

According to the Bureau of Labor Statistics, average annual wages for doctors in 2015 were over $ 250,000. Doctors practicing a specialty, such as anesthesiology or general surgery, had average earnings of over $ 425,000. These high salaries could appear as if doctors are happy to do their jobs, and then retire at 65 with a high pension and savings.

Surprisingly, however, this doesn't seem to be the case. Doctors, including younger doctors who end up studying medicine with a lot of debt and several years of residence and scholarship training, are looking for ways to improve their income and achieve financial independence even faster.

Enter secondary employment – a way to earn extra income on the side while doing something that you enjoy. While some side jobs involve driving for ridesharing or quick and easy tasks, other side jobs are more entrepreneurial. Regardless of your interest, there is a possibility that you can make it a side project and earn extra money to help with your financial planning for the future.

Why doctors should have side hustles

Since doctors are one of the highest paid jobs in the United States, you may be wondering why you should take the time to think about a part-time job at all. Well, here are three words for you: "Medical School Debt". According to the Association of American Medical Colleges, the average debt of medical school graduates in 2016 was an exorbitant $ 180,000. Almost three quarters of all medical students have at least some debt. This is an amount that simply cannot be ignored.

While medical school debt is an obvious obstacle to today's new doctors striving for financial freedom, it's not the only reason professionals in the industry are getting a sideline or exploring exciting business opportunities.

Another is pure curiosity. Chances are that a student will apply and go to the medical school because they are curious about how the human body works and want to learn more about medical practices. Although becoming a doctor is the primary passion and interest of the student, it is unlikely that this is the only thing he is passionate about. When you start a part-time job, you have the opportunity to use other things that interest you and give them the opportunity to earn a little more money on the side, for whatever reason.

Another reason why so many medical students and professionals start a second job is the additional financial security. There is no doubt that being a doctor is one of the safest jobs. People always get sick and always need medical help and care. However, especially in the early stages of a doctor's career, individuals can be burdened with mountains of debt without receiving a higher salary. With additional cash flow, the stress of not having enough money is reduced.

However, healthcare is subject to the laws and rules of the market, even more than most other industries. Hospitals are always looking for ways to cut costs, and in some cases it means letting good doctors go. Medical facilities are bought regularly, which can also mean massive layoffs. Whether you are a senior surgeon or an entry-level doctor, if you happen to have a day job, you always have a solid option to fall back on with an income-generating side business.

Side hustle options for doctors

The great thing about doctor entrepreneurship is this: there are many ways to start a business and support your annual salary. Doctors are generally intelligent people with a wide variety of interests in general. As a doctor, there is most likely a side project where you can make money when you can take full advantage. As a starting point, here are some ideas that you could spend some time researching:

  • Start a blog. It can be a medical blog, where you can give expert knowledge on a niche topic, or a blog, which is about something that you are deeply interested in, even if it has nothing to do with the medical profession. If you are able to create compelling content, there are many companies that may offer revenue-generating sponsorship opportunities. You can also sign up as a partner on websites like Amazon to monetize the blog in several ways.
  • Teach on the side. If you are passionate about helping others, teaching can be a great part-time option. Whether through tutoring for medical students or guest lectures for a class at your local medical school, there are many teaching opportunities for medical professionals. However, you shouldn't limit yourself to teaching only medicine. If you are interested or experienced in another topic that interests you and feel that you could teach the subject, try presenting the idea to a local community college or extracurricular center, and see if it gives you one offer a paid job.
  • Answer medical surveys. Dozens of companies offer paid medical surveys. These often pay off very well per minute and can make optimal use of any downtime you have at work. With this easy-to-start side job, you can easily make hundreds, and in some cases, thousands of dollars.
  • Start a private practice outside of business hours. People across the country need round-the-clock medical care, but going to the emergency room when the doctor's office is closed is both expensive and time-consuming for daily patients. You can fill this gap by opening a private office outside of business hours to care for patients when other offices are closed.
  • Be a medical writer. With your unique knowledge of medical practices, you can easily make money by grabbing some freelance medical writing appearances. Medical authors often focus either on scientific medical writing, which includes medical studies, drug studies, and regulatory documents, or on marketing medical writing, which may include booklets, pamphlets, press releases, and blogging.
  • Make YouTube videos. People always google medical symptoms, causes of illness, specific remedies and much more. You can become the doctor who answers all these questions to calm these hypochondriac thoughts. Simply record how you answer common medical questions on your laptop or phone camera, edit them quickly if you want, and upload them to YouTube. You will be surprised how often medical searches are carried out in search engines worldwide.

Set up your side hustle

Buying a website domain and putting together a blog can be so easy, or a little more difficult if you need to search for businesses or customers. It just depends on the effort you are willing to put into your side job.

Nevertheless, it is important not to expect too much in the beginning. For example, if you start a private practice outside of business hours, multiple patients may not be out the door immediately. Your blog may no longer have thousands of visitors every day from the start date. However, if you are diligent and stick with it, you can develop a lucrative side business if you keep your entrepreneurial spirit.

The most important thing is to get the word out. If your side business is mostly online, you will find others working in a similar niche that you can connect to. For example, you can ask for guest posts or ask an established doctor vlogger to share a link to your videos to attract more visitors to your content.

Will your part-time job eventually replace your full-time job as a doctor? It's up to you. You may find that you love doctor entrepreneurship more than working in a hospital. Or you choose to keep your page exactly like that – something you enjoy on the side.

(PoF: The list above is just the beginning. The possibilities that you have are really unlimited. It makes sense to use your specialist knowledge and incorporate what you have learned into your main task and apply it to your secondary job.

On the other hand, the side appearance may be about escaping a career that you no longer enjoy. In this case, you may want to do something that is the other way around or completely independent. Real estate, retail, restaurants, wineries (you thought I was going to say breweries, right? … OK, I'll say it), Breweries, Travel agencies as you call them … One wonderful thing about high income is that you can find the seed capital for many of these small business ideas more easily.

To learn more about what other doctors are doing as a side appearance, join the thousands of doctors sharing tips and stories in Passive Income MDs Passive Income Docs Facebook group. It is only for doctors and if you are already a member of Doctors on FIRE, that makes it much easier for you to check your doctor’s status.)

Do you have a side business? If not, what would you like to do as a side job?

Journal Club 06/26/20 Investor Club


Here is Journal Club 7-31-20! I hold one every week JOURNAL CLUB. After filtering the articles on the web, I present some that have influenced my life this week. Be safe and stay healthy!


Our waiting list sale for the Passive Real Estate Academy is now open! This means that from now until 02.08. Get an exclusive $ 200 off at 11:59 p.m. PT. Find out more.

  • Creating a budget and budgeting your expenses regularly may feel like a giant pill to swallow for some. Regardless, building it is a good habit and can save you a lot of time and money in the long run. It can be embarrassing to start a habit like this late in the game if you feel you should have done it all the time. However, it's never too late to build good financial habits. As the saying goes: "Better late than never", right? Here are six simple steps from Millennial Money Man to create a budget.
  • The FIRE movement appears frequently on this blog. Financial independence and early retirement are goals that many want to achieve, but it can be difficult if you don't have the right tools or attitudes. Chief Mom Officer shares details of what she calls a "re-FIRE-ment" and how you can make your dreams come true, whatever your goals, by reducing your expenses while maintaining a stable income.

Finally a little motivation. Have fun and a nice weekend!

Journal Club 7-24-20

Journal Club 06/26/20 Investor Club

Previous articleBe an Expert: Why a Start Today Can Save Your Tomorrow


This post contains affiliate links.

This is a guest post by Dr. Gretchen Green, a radiologist with a thriving business with experts and founder of the Expert Witness Startup School.

Non-clinical income can be a key strategy to gain financial freedom if even doctors receive cut wages at best and, at worst, become unemployed even in the midst of a pandemic.

Through expert work, Dr. Green uses her skills and knowledge as a doctor to get her clinical work and life outside of medicine back on track. Enjoy!

Married to medicine

When I was a full-time partner in a large radiology practice, I worked days, nights, evenings, and weekends with no control over my schedule. When washing, I washed my children's outfits that I never wore. I saw her in PJs in the morning before I went to work, kissed her warm cheeks goodbye, and saw her again at night when I came home after dinner to put her in bed.

My friends in medicine felt the same way and wondered if they would regret lost time, but saw no way out except to work harder, sometimes for less.

In order to increase the savings, I worked additional weekends. I've seen my tax bill go up and my free time no longer exists. My children received an A in "easy to separate from parents" when they rated the daycare center.

When my children were 6 and 8 years old and the market tailwind had brought our hard-earned savings to a sufficient level by 2016, I left my practice and took a Sabbath year to regain control of my life.

A sabbatical saved me

This year I switched from a W-2 employee to the business owner of an expert practice. I had been an expert before and loved critical thinking and the challenge of doing something new, but still in my medical field.

I took on a new part-time job in radiology, but I wanted to increase my income to make up for the loss of full-time clinical income, and testifying seemed to be a great solution. I attended expert courses, read as much as I could and built up my network of lawyer contacts organically.

It was worthwhile to use my knowledge in a new way, to think about medical-legal cases and to form my opinion with an evidence-based approach.

I learned that I could use my time by shifting the hours I spent reviewing cases to work in the morning before the children got up and started a new part-time clinical job. I replaced my previous partner's takeaway income and worked about half the hours with no nights or weekends.

I went to school and saw my friends. I could finally help my mother realize her dream of traveling around the world with my children, just as she did with me.

Safe with uncertainty

At the time of the COVID 19 pandemic, I was able to voluntarily free myself from my part-time job and quarantine it at home. I continued to receive new cases to review, which meant that I was financially secure even though my investment portfolio shrank about 1/3 during the market downturn.

My little children needed a lot of support to get used to distance learning and to adapt to a completely new way of life, and my husband's work as a doctor increased when he took on additional tasks in the administration of COVID-19. I was able to spend as much time as necessary teaching my children at home and keeping myself and my family healthy.

My rate of new case reviews increased during the pandemic as lawyers needed experts to review cases that they had no time to deal with while dealing with deposits and litigation.

Lawyers have contacted me to expand their network of experts, but have been cautious about making demands on doctors without knowing the painful truth that so many doctors are currently financially injured, and would like to take the opportunity to increase their income when they need it the most.

At typical hourly rates of $ 500 to $ 900 / hour, it is not difficult for most doctors to earn a significant additional income.

Why NOT serve as an expert?

When examining the work of experts, doctors often fear the following:

1) I don't have time.

Now is the perfect time to do what you as a doctor already do best to change your career the way I did. This is work that can make you love medicine more AND improve your work-to-life ratio, but it is best for you.

With online courses and remote collaboration in real time, investing time in yourself has never been easier. And it could change your life like it did for me.

2) I don't speak legal.

The good news is that you are already an experienced doctor. You don't have to be an amateur lawyer. However, you need to know how medical-legal cases work and how to communicate as an expert to maintain objectivity.

Whole books were written about communication as an expert. You may not even know what to say when a lawyer calls you out of the blue about a new case. The good news is that I enjoy speaking to lawyers and have learned a lot to work with them.

Lawyers told me they wish doctors knew more about what to say (or NOT say) during a call to ask them to review a case. In response to your feedback, I wrote a checklist for the first call to guide the conversation and help you communicate safely and effectively.

3) I could never testify against another doctor.

Acting as an expert means objectively examining a case and giving your professional opinion. A case in which the plaintiff's attorney will keep you can never continue if you find that there is no violation of the due diligence standard. (In many states, doctors may never know that a lawsuit has been brought, but ultimately has not been brought against them, because an expert has not determined that they are at fault.)

I am a lifelong learner and teacher and love using evidence-based medicine to evaluate a new case and formulate my opinion – it is a mental challenge that also makes me an informed and better doctor.

My radiology practice values ​​me as a resource when a clinical question arises because I have worked hard to study the literature in my area.

4) I don't know how to start.

Regardless of whether this is your first or 40th case, you can learn the skills required for an expert practice. You can find online resources or take a course. My first case was referred by a colleague and my second case came 7 days after being included in an expert register.

I am often kept in cases where multiple experts are needed. It is difficult for lawyers to find experts, and for doctors it is even more difficult to find each other. I want to change that by connecting a community of specialists to my network of more than 6,000 lawyers.

"Instead of asking us when our next vacation is, we should build a life we ​​don't have to escape." Seth Godin

You don't have to invent a new product or acquire an MBA to start a new business. All you need is the right knowledge, skills and connections to make a significant extra income as an expert.

How could your job make your next ideal life possible?

Would you like to start and build up your practice for experts? Then take a look at the Expert Witness Startup School!

Great first step for real estate investments


The waiting list for the Passive Real Estate Academy is only open for a few days. You get a discount and bonuses include a virtual VIP ticket for our upcoming real estate conference. Check it out here.

"I want to start investing in real estate. What is the best first step?"

I am asked this question quite often and how I answer people has changed over time.

I realized that There is no perfect best move. The key is to just invest and get started something.

What could that be something? Well, here are some great first steps:

Great first step for real estate investmentsWaiting list discount available for a few days.

1) Find out your goals and write them down

Ultimately, I see real estate investments simply as a vehicle. It is a vehicle that helps me achieve my ideal life.

Isn't that the point of all investments? … to take you to a place in life where you feel controlled, safe, free, etc.

So many people start the journey without knowing exactly where they want to land. This is like traveling without knowing where you want to go. I think that's why so many people find it so difficult to figure out the roadmap.

So the key is to determine exactly what you want to achieve and when you want to achieve it.

I am a fan of the SMART system for creating goals. Here's a contribution.

This is a great first step.

2) Read books

Books are still relevant today in all the different media that are available to us. Yes, it usually takes a little more engagement than 5-10 minutes to read a blog post.

But the depth that you can reach in a resource is powerful.

I have to spend more time telling you about the power in books. We all know that we have read many of them for education in our lives.

Here are some of my favorite books.

This is a great first step.

3) Read blogs / forums

I hear from people who say they don't have the time to read an entire book. It is sometimes the initial resistance to the commitment to an entire book that prevents people from starting their investment journey.

I wonder if it's really a time problem or has more to do with being out of your comfort zone. We all like to stick to things we are familiar with.

So I tell them to start reading blogs article by article. Or go to forums and read a thread.

Anyone can find 2-3 minutes during the day while waiting in the coffee line before a case begins or wherever (get creative). Sometimes people can get a nugget of wisdom even from the shortest point.

That could inspire someone enough to want to know more.

Here are some of my favorite real estate investment blogs.

This is a great first step.

4) Listen to podcasts / audiobooks

You may not have time to sit and read, but there is no doubt that you will find some time to listen and record information sometime in the day.

I find the best time to continue my education, in the car or when walking with my dogs. This way, I don't use more time a day to do this. It's just a better use of the time I would spend anyway.

There are so many amazing resources in audio form today. I listen to podcasts, audiobooks and even book summaries. Any book in the list above can be found as an audio version.

Regarding podcasts, here are some of my favorites. This list is not property-specific, I will have to compile it soon and will update this post with it. Of course, I've started my own podcast since then, focusing on creating multiple sources of income, including real estate investments. Watch the Passive Income MD Podcast here.

Ok, I don't know if it's obvious now, but this is a great first step.

5) Go to a real estate meeting / conference

I still remember what it was like to go to my first meeting with real estate investors. I went alone and knew no soul there. I felt out of place, but I was determined to learn more. So I talked to people, sat down and heard stories and some strategies. I felt like my eyes were opened to a whole new world and I learned a lot.

Since then, I have committed to attending at least one major real estate conference every year. I think it's important to get involved, network, learn from others and find a community of like-minded people.

There were times when I learned more from a conversation at these conferences than weeks when I read online. It is powerful.

This is a great first step.

6) Talk to a friend / colleague / family member

I am confident that you know someone on your network who has experience investing in real estate. It may not be someone who is very close to you, but it may be one of the doctors you interact with occasionally. Maybe it's a college friend you haven't spoken to in a while. Maybe it's a family member.

Whoever the person may be, use the first-hand experience of people you trust to guide you.

It might be uncomfortable to approach someone on the subject at first, but I've learned that people who invest in real estate love to talk about it. Nobody got where they are (if they are successful in real estate) without guidance and help along the way.

They are usually more than willing to share their experiences. So seek out these people and ask how / why they started. See where it takes you.

This is a great first step.

7) Take a real estate investment course

I don't know if it's just me, but every year I feel like I have less and less time to do all the things I want to do. I was very focused on maximizing my time.

I am also interested in highly profitable content and resources. The most limited resource we have as busy professionals is TIME, and I think my time is extremely valuable.

As doctors, we earn a decent income, but what good is it if this money can't help you free up your time?

Instead of spending hours and hours aimlessly searching for the right resources and information, I will take it if I can find a course that speeds up my learning and shortens the learning curve.

Yes, I've spent thousands on these courses over the years, but it saved me hundreds of hours. And I would rather spend this time with my family and friends. They also saved me from making big mistakes, and that's worth a lot.

Shameless plug, but I want to mention such a course. If you want to learn how to safely invest in passive real estate deals, visit our Passive Real Estate Academy course. Waiting list now open, regular registration will be open soon, but it will only be open for a short period of time.

This is a great first step.

What should the first step really be?

How do I answer people now when they ask me what should be their first step? Honestly, it's usually number 1 above – I ask you to define your goals.

But if they have taken care of or want to do what's next, I ask, "What do you think you should do?" The great thing is, they already know the right answer. It is everything that sets them in motion and takes action.

Like most things in life, the first step usually leads to the next, and once inertia is overcome, the momentum takes over.

What is the first step for you if you haven't started yet? What do you think you should do

Great first step for real estate investments


The debate over whether a doctor guarantees job security or not has taken a while, but it has become evident in these uncertain times when many doctors across the country go on vacation and let go – job security in medicine is a myth.

Every lever that we once had as doctors is completely gone. Doctors are increasingly becoming goods that can be replaced by cheaper suppliers and even by automation.

We are pleased to announce that our Passive Real Estate Academy signature course is back on August 2nd and better than ever. We have updated and updated the course based on your valuable feedback.

Use your doctor's income by diversifying your income streams by investing in passive real estate deals. For those of you who are ready to get started, go to and take you from 31.07. part of the waiting list sale to get a nice discount on the course.

It is time to live your life and practice medicine on your own terms.

Now let's look at five things you will learn about how job security is a myth in medicine!

  • How one Learn from years of real estate experience in just four months.
  • As a doctor, are you in control of your time and income?
  • How the field of medicine and the title of a doctor have changed
  • Creation of a system so that medicine is not your only source of income
  • Become financially free and make medicine your hobby

Here's a breakdown of how this episode develops …

As you know, doctors now have a huge student debt burden. And this ratio of where in terms of how much you owe your student loan debt versus how much you earn and the cost of living, especially in some areas where people live. Don't work as much in your favor as before. And that's how I know a lot of doctors, and I've talked in the past that paycheck to paycheck is stressed month to month to find out if they can cover their expenses that might support their lifestyle.

I’m honest, there’s probably a certain pride that you as a doctor wear. It was definitely not easy to get here, and you spent so much time and money on your degree during all those hours of training. They expect you to be at the top of the ladder and I think most of us felt like we couldn't be replaced, especially because of the shortage of doctors. We felt that there was great demand on our side. And of course there is wages for overtime prices because demand and supply are low. They know that as doctors we would be in even greater demand and that our salaries would increase. Unfortunately, that was not the case. Society and medicine in general have learned to elevate others to the role of a doctor.

I think as doctors we tend to think that we can never be replaced by automation technology. However, I totally think that is wrong. You are already starting to see it. You see how AI, especially when it comes to reading films. The technology is increasing significantly. They saw how they tried to develop machines that took the place of many doctors.

What I sometimes say about medicine is to make it a hobby. Once you're in this position, it doesn't matter what happens in medicine – it doesn't matter whether your job security is a myth, it doesn't matter what changes in regulations occur, it doesn't matter if you work in medicine Conditions you are not happy about. Because you can change it at any time. Let's face it, most of us don't change the situation we're in with our work for financial reasons. So if this is done through other income streams, you can really choose your ideal life career.

Let me tell you, it's absolutely possible. If anything, if any of you was part of it Leverage and growth summit We had that recently, there are so many doctors doing things outside of medicine while still practicing medicine who are able to create finances, provide financial security and be able to really thrive and things to do that they love passionately – all while still staying a doctor.

Be proactive, humble, and know that there is so much more to learn out there. Take it in your hand and just say, "I will no longer be trapped by medicine when it comes to finance. I will create my own financial security."

If you enjoyed this episode, here's another one you would love too! How much is your time worth?

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Most investors, business people and people from other fields are enthusiastic about cryptocurrency for many reasons. The main cause is leaving the anonymity details of the cryptocurrency. Other causes include fast marketing, low transaction fees and cross-border marketing without third party investments. All of these facts have brought the demand for digital cash to the fore.

So there is a dark aspect of the demand for digital currencies. In this article, you'll discover the top 5 mighty buncos in the crypto world.


Onecoin fraud is the top scam in the world
Demand for digital currency. You have kidnapped many of Onecoin users from
Request fraudulent promises of multiple counterfeit crypto tickets. Unofficial references
show that it was $ 4.9 billion. However, the company's original CEO
skipped since 2017, while the alternate CEO was jailed in the case of
Money laundering and corruption. According to raw data, facts and figures, they were
Dealing with fraudulent academic packages and tickets for looting cash from the


About everyone has heard of the name
Bitconnect. This is one of the best known and most famous bitcoin
Buncos of all time. It was popular for its growth and large exhibition.
Some popular YouTubers have improved this, but it continues
Internet. It aired in 2016 and was discontinued by Texas in 2018
state insurance agency. The board openly declared it a Ponzi program that was
popularly known as the right credit platform. This scam searches 3 million
Dollars from addicts as well as from their constituencies.


Like Bit Connect, Plus Token was also a Ponzi strategy that delivered high return corporate policies. It contributed to a false interest rate policy with a recovery of 9% to 18% from the maximum of the Asian nations. The main patient was from China and Korea. The plus token method was different from Bit Connect. They wanted offline conferences with potential investors.

Because of this evidence, Plus Token had a large customer
Base set up outside the actual crypto world. But the difficulty started when
Most people were wrong about pulling their money off the platform. The
Strategy tries to hide reality from users by criticizing it
Extractors, but it was discontinued in 2019. It is understood that this is
Fraud is the cause of the elimination of the rate in 2019.

Bitcoin conservation and trust

It was inaugurated by Bitcoin in the earlier years
This was formulated to help inexperienced people. And
Since Bitcoin was different at the time, they are organizing this as a reasonable way to
Betray people. It was inaugurated by tendon razors and popularly as
Pirate. The fact came to light in 2012.

Pincoin and iFan

It is a Ponzi corporate fraud that has committed
Invite an 8% commission to a referral program. New Tech ran this company
and they gathered offline conferences from different parts of India to attract them
People. The iFan department was used to connect with their fame. You can
Start trading bitcoins today on the Btc News Trader website

last words

Finally, if you want to subsidize in crypto
Market then make sure that your inspection of its environment and its system. You can
Understanding Bitcoin and other cryptocurrency companies from Bitcoin
Epoch. Hopefully the information above will help you figure out whether to stay
away from the likely risk

About the author


Vipul is a professional blogger and online advertiser from Bengaluru, India. Vipul is always on the lookout for new ways to make money and explains all possible ways that can help everyone to generate residual income online. You can connect on Twitter, Linkedin & Facebook