From Medical Doctor to Real Estate Syndication: Achieving Success as an Entrepreneur

Pranay Parikh M.D. fills plenty of shoes. Apart from being a physician, a teacher, and a director, he is also the president of Ascent Equity Group and the host of “From MD to Entrepreneur Podcast.”

In this episode, Doctor Parikh talks about strategies for staying current in the market and ways of making projections. He also shares different experiences that helped him realize that real estate is the way to go if you want steady and reliable cash flow.

Watch how he elaborates that the right mindset on the work that you do can make your experience more fun and exciting.

Don’t Forget To Reach Out To Pranay Parikh
📱

Facebook: https://www.facebook.com/pranayparikhmd

Email: pranay@ascentequitygroup.com

Linkedin: https://www.linkedin.com/in/pranay-parikh/

Website: https://ascentequitygroup.com/

Quotes -

“We realized that the market is changing so much. We learn new things every day.” 4:05
“The problem with always presenting the worst-case scenario is other people don’t do that.” 8:40
“I didn’t really know what to do with money. It’s a little scary, right? I didn’t know what to do, so I started reading.” 12:46
“Whan you want to take control over your life, you have to make sacrifices.” 13:35
“I work a lot less now. I think that helped me [develop] habits.” 15:17
“[Working less] helped us a ton. And now I’m able to spend more time with my family and my young son.” 15:30
“Once you’ve experienced that once in your life, your life is forever different.” 16:10
“Having a lot of different things you can do just brings out excitement back.” 16:55
“[Work] It feels like a lot of fun, a lot of excitement. I get to meet lots of friends, and I get to meet exciting people like both of you. It doesn’t feel like work.” 17:44
“It sucks not having an answer or having the wrong answer.” 30:00
“In the long run, what are we doing? We’re finding problems and trying to solve them.” 30:27
“Cash flow is what you live off of. And that’s how you replace your salary.” 50:55

Concepts -
The market changes quickly. To be aware of these changes, you need to learn daily. 4:10
Conducting sensitivity analysis for your projections can help you plan for your real estate business. 5:25
Despite the many problems faced by people today, there will always be individuals who are in the market for a home. 10:10
Things that are unfamiliar to you may seem to be intimidating and scary. One way to get rid of the fear is by reading and learning more about them. 13:00
Sacrifices become a constant part of your life when you want to have success and financial freedom. 13:40
When you see an opportunity that may improve your quality of life, don’t hesitate to choose it. 15:00
Even when you’re working, still find and do other things that interest you. Doing this can help you feel less burnt out. 16:30
Treating work like it isn’t working and that you need to be miserable about can make it more fun and exciting for you. 17:00
Having some self-imposed discipline can help you adapt to different roles. 19:50
Showing empathy and compassion to another person is a skill that you need to develop both in medicine and real estate. 24:00
The skills of deductions can help you navigate your way in real estate. 30:25
For physicians, having real estate as your part-time work can help you be fulfilled with your work as a doctor. 32:00
Eating, exercising, and sleep is an important part of still having a work-life balance. 36:00

Time Stamps -

0:00 Introduction
0:40 Mortgage horror story
5:05 Challenges and overcoming them.
8:20 Forming projections
9:40 Factors of changing projections
11:55 From MD to real estate
13:00 Drive to work 75 hours a week
16:30 Working can be fun
18:00 People don’t get paid to be in a podcast
19:00 Adjusting and coping to adapt to changes
21:00 MD to Real Estate–negotiating and other skillsets
24:00 Giving the bad news–developing empathy
27:00 You need the right doctor
30:36 Having more time to do important things
32:40 Supplementing work to do more
34:00 Freedom is being anywhere you want to be
35:00 What retirement looks like for you?
37:00 How real estate became your go-to field
39:00 Real estate = cash flow
41:30 Acquisition strategies and goals
44:50 What makes your company stand out
47:50 Vision for the next 1-2 years

Sources Mentioned -

White Coat Investors

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