Announcement

Collapse
No announcement yet.

Incoming Dental Student - Hopeful Investor

Collapse
X
 
  • Filter
  • Time
  • Show
Clear All
new posts

  • Minnesconsin
    replied
    You'll do better to focus on good grades and minimizing the debt you accrue. I would have drowned with more on my plate D1 year. Your drive will serve you well in private practice though!

    Leave a comment:


  • FibroBlast
    replied
    Originally posted by ebrow81 View Post
    Hello! I am an incoming dental student. I am really wanting to jump into real estate early and start learning the fundamentals first hand. I have taken a couple years in-between undergrad and dental school and have saved up a decent amount of income to help pursue this adventure. I am wanting to start by utilizing the house hacking technique described by bigger pockets as basically buying a home and renting out the bedrooms which in in return help cover the costs of the home and make my expenses cheaper by living there as well. My sister is a realtor and my brother has a few fixer upper/turned rentals so I do have them to help me out as well.

    My question is, is this possible? Am I going to end up in a sore spot? Great in theory but in reality it'll be too much work while in school? I don't want to come in as a naïve D1 and find out that I am in over my head but I also don't want to miss out on an opportunity that my future self would regret. Of course I am going to figure out the market, find a home that will work and not require much work. I am not wanting a fixer upper because that would take time away from school.. Thoughts? Any insight?
    A little late, but I have seen this work in my classmates only when the spouse of the DS is willing to manage the property. Otherwise it can became a nightmare with non-paying tenants, stuff breaking, noise etc. And it always happens the day before a final or project is due.

    D1/2 are the hardest years IMO, so just push through and focus the most on getting the most out of them.

    Leave a comment:


  • G
    replied
    Originally posted by ebrow81 View Post
    Hello! I am an incoming dental student. I am really wanting to jump into real estate early and start learning the fundamentals first hand. I have taken a couple years in-between undergrad and dental school and have saved up a decent amount of income to help pursue this adventure. I am wanting to start by utilizing the house hacking technique described by bigger pockets as basically buying a home and renting out the bedrooms which in in return help cover the costs of the home and make my expenses cheaper by living there as well. My sister is a realtor and my brother has a few fixer upper/turned rentals so I do have them to help me out as well.

    My question is, is this possible? Am I going to end up in a sore spot? Great in theory but in reality it'll be too much work while in school? I don't want to come in as a naïve D1 and find out that I am in over my head but I also don't want to miss out on an opportunity that my future self would regret. Of course I am going to figure out the market, find a home that will work and not require much work. I am not wanting a fixer upper because that would take time away from school.. Thoughts? Any insight?
    Love the enthusiasm. Work hard at school.

    Leave a comment:


  • molar roller
    replied
    Originally posted by hillaj1 View Post

    Just be self aware your ROI will be insignificant relative to your long term career as a dentist (I hope). But, some of my friends did this in med school and it worked out well for them.
    exactly.

    You will do very well with an entrepreneurial mindset and a dental license. Flipping houses is nice but you're competing with everyone out there trying to do the same. Very different when you are in a field with a huge barrier to entry.
    Concentrate on your studies, especially clinical stuff so you can hit the ground running. Dental school is hard enough without distractions. The few bucks you make on this are not worth risking your investment in your career.

    Leave a comment:


  • hillaj1
    replied


    Depending on your market, buying a duplex and renting out half is reasonable if you have a 4 year time commitment. Class C duplexes in my market (south east US) run $125-175k. Location may not be the best neighborhood for studying with barking pitbulls and occasional domestic altercation.

    Just be self aware your ROI will be insignificant relative to your long term career as a dentist (I hope). But, some of my friends did this in med school and it worked out well for them.

    Leave a comment:


  • cyrano7
    replied
    Dental school has a ton of “busy work” in the form of labs. You likely won’t have time for this. Also, doing well in dental school will keep your options open if you want to pursue a specialty (which can frequently increase your income substantially).

    Leave a comment:


  • CordMcNally
    replied
    Concentrate on school and becoming the best dentist you can at this point. That will serve you much better than any investment house you buy right now.

    Leave a comment:


  • ebrow81
    started a topic Incoming Dental Student - Hopeful Investor

    Incoming Dental Student - Hopeful Investor

    Hello! I am an incoming dental student. I am really wanting to jump into real estate early and start learning the fundamentals first hand. I have taken a couple years in-between undergrad and dental school and have saved up a decent amount of income to help pursue this adventure. I am wanting to start by utilizing the house hacking technique described by bigger pockets as basically buying a home and renting out the bedrooms which in in return help cover the costs of the home and make my expenses cheaper by living there as well. My sister is a realtor and my brother has a few fixer upper/turned rentals so I do have them to help me out as well.

    My question is, is this possible? Am I going to end up in a sore spot? Great in theory but in reality it'll be too much work while in school? I don't want to come in as a naïve D1 and find out that I am in over my head but I also don't want to miss out on an opportunity that my future self would regret. Of course I am going to figure out the market, find a home that will work and not require much work. I am not wanting a fixer upper because that would take time away from school.. Thoughts? Any insight?
Working...
X