TGCI 142: From full-time Plastic Surgeon to part-time developer!
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Show Notes
In today's show, Pancham interviews Sumeet Makhijani - a reconstructive plastic surgeon and co-founder of Easy Living Communities.
Sumeet has a simple goal in life: to decrease his work time and have passive income outside of medicine. With his growing portfolio of multi-family development and mobile home parks investments, he proves that you don't have to leave your career to take the leap into investing!
In this episode, he will unpack his journey on reducing financial risks as he shares his transition to real estate investing! He will drop the details on how he built his first real estate development from scratch and why he diversified into mobile home parks.
Listen and enjoy the show!
Quote:
"I loved the idea of building something beautiful from the ground up. That has always been an interest for me."
Timestamped Shownotes:
- 1:02 - Pancham introduces Sumeet to the show
- 2:45 - On transitioning from medicine to real estate investing
- 4:58 - How witnessing other's experiences got him to start investing
- 11:48 - Jumping straight into building their 96-unit multi-family development
- 15:53 - Multi-family development vs. mobile home parks
- 19:57 - What you should know when starting in real estate development
- 21:53 - On working towards improving their IT systems
- 23:22 - How workouts and reflection helps start his day right
- 27:18 - Taking the Leap Round
- 27:18 - His first multi-family syndication investment outside of Wall Street
- 27:48 - Overcoming his skepticism to real estate syndicators
- 30:39 - COVID-19's impact to his multi-family development
- 31:26 - Why rookie investors should explore and take the leap
- 33:13 - Sumeet's contact information
3 Key Points:
- Study the market that you're going to invest in. Take time to do your research and be in the market that best suits you.
- Real estate development has big risks such as debt and time-consuming but it will also gain you big rewards.
- Know all the factors that will be involved when building your real estate development such as its market, its competition, and where you'll get your funds.
Get in Touch:
- Easy Living Communities Website - https://easylivingcommunities.com/
- Sumeet Makhijani Contact Details - (402) 850-1315
- The Gold Collar Investor Club - https://thegoldcollarinvestor.com/club/
- Pancham Gupta Email - [email protected]