Learning From a Professional Who Has Been There
In the latest episode of the Real Estate Investing for Professional Men and Women podcast, I was joined by a member of my Mastermind group, Dr. Steven Hatcher. Steven is a dentist based in Greensboro, North Carolina and he owns his own practice.
As you know, the reason I launched my podcast was to show professionals how real estate can be a great vehicle for growing their wealth. Whether they are doctors, lawyers, teachers, firefighters, computer programmers, accountants or any other professional, real estate has the potential to help them turn their earnings from their profession into ever-growing, sustainable wealth.
Steven Hatcher is a living example of what I’m talking about. He was able to use his own money earned from his dentistry to invest in real estate, and now he has between 20-25 deals under his belt. I hope you can learn from Steven’s example and that you enjoy our conversation.
Steven learned both the advantages and drawbacks of real estate early on, by observing his father’s own real estate investments. He recognized that real estate investing could be a potentially great source of wealth, but he also saw the difficulties his father had in managing multiple rental properties and all of the tiresome work his father had to do to maintain those properties.
Through these valuable early lessons, Steven recognized the advantages offered by hiring property management professionals. Steven’s investments, in contrast to his father’s, are low effort. Steven invests in many states throughout the southeast, and often hasn’t even seen his properties firsthand. By looking for a smarter, easier way to own real estate, Steven can focus on his dental practice while his money is passively multiplying in the background.
One of the most noteworthy lessons you can draw from Steven Hatcher’s story is that he had misgivings and concerns before his first investment. Nevertheless, Steven chose to step into his fears and take the plunge. Since then, he has amassed an impressive portfolio of more than twenty purchases.
The key takeaway here is that, as with any new activity, your first time investing in real estate is the scariest. And, just as everything else in life, after that first step things continue to become easier. After you’ve done anything once, you now know better what to expect and can prove to yourself that you can do this again. Real estate investing is no different. With the right mentors and resources, any professional can learn the best strategies and ethical policies for minimizing their tax burden and growing their wealth.
Want to hear more? Listen to this podcast here.