Passive Income Doctor

In this episode, I give an update on Passive Income Doctor, and how portofolio is faring- interest rates in last 2 years gone from 2% to 6.5%. Headline inflation has been 7%p.a but when I see property prices, grocery prices, it seems more like 10-20%. I also talk about finance challenges- obstacles in obtaining lending. I discuss the current 3% interest rate servicing buffer, DTI limits. I finish...

In this episode we chat with Dr Urzula Carr, histopathologist, and life coach. We discuss journey from Poland to UK, working in the NHS, and then life in Australia. We talk about some property wins including granny flat/studio, feasibility studies for property development. Finally we discuss her journey, how life coaching and self development helped her through some dark times, and how she intends...

Why the trend is from bulkbilling to mixed/private billing? The Medicare rebate freeze, and effects on general practice sustainability. The rising costs of running a small business. Steps doctors and practices can implement to transition to private billing: 1. meeting to discuss 2.advertise in advance- notice to patients 3. train reception staff, implement processes. Info for patients/community me...

We have back on the show Richard Bharata, property investor and buyers agent. We catchup on what's happened in the last 12 months, some recent cracker deals. Also he shares some common investor mistakes, and also some tips for interstate investing. Finally we discuss Perth property market, and also predictions for what areas and price points will do well. Check out Richard at: iProperty Finde...

Age old question, buying own home vs investment property? And which one first? Where rentvesting sits in the picture? It is a personal question, however in this episode I explore some things you may have not considered before. Resources/links: Property Investing for Doctors Buying my first property at 23 years old Music Credit: Bass Nation. New episode every fortnight. Send in your questions to: p...

Holidays and taking timeout is important for doctors. How to optimise this, and how it can help you be a better doctor. Also I talk about my (controversial opinion) on points hacking, and some hidden dangers. Other resources/reference: Why Physician Vacation Time is Vital | JAMA Career Center (jamanetwork.com) Historic change to Declaration of Geneva | Australian Medical Association (ama.com.au) C...

In this episode, we explore basics behind index funds and ETFs- rising popularity over last few decades. Also, how it stacks up against active/managed funds. As always, please note this is general information, and not personalised financial advice. Resources/links: What Are Index Funds, and How Do They Work? (investopedia.com) Music Credit: Bass Nation. New episode every fortnight. Send in your qu...

Theres a common saying "Its time in the market, not timing the market". I believe long term horizon for investing is important, however timing entry into a market is also important- to get early wins, to give some confidence; also to avoid buying at a peak and experience big falls. In this episode, I talk about market cycles, presidential cycle, property clock, and much more. Resources/l...

In this episode, I interview Claire Lim, medical student and co-founder of ScriptAI, an artificial intelligence tool to help doctors write notes. We discuss her entrepreneurial journey, including sourdough, Electronic Medical Records and AI tools.  Importance of pivoting, and creating solutions for challenges in everyday life and clinical medicine. Resources/links: Check out ScriptAI- scriptai.co...

In this episode, I chat with Eamon, a medical recruiter looking after locum doctors all around Australia. We start by discussing the motivations and benefits for locum doctors, then explore some challenges/pitfalls that can happen- sudden cancellations, doublebooking, job not accurately advertised. We touch on some challenges facing rural healthcare in Australia, and I ask about what makes some do...

How can busy doctors set up their personal finances to maximize chance of success? Todays episode, I share 5 steps that you can take to simplify your finances. 1. Assess your current situation 2. Set a compelling goal 3. Develop habits (track spending, regular self-education, monitor savings rate) 4.Action plan 5. Reassess/re-evaluate Resources/links:   Some “Thing” to Talk About? Differential Sto...

Today, we review what property prices did in 2023, and what factors are shaping the Australian property market for 2024. I also discuss some key announcements from the 2023-2024 Budget regarding healthcare, and discuss trends with General Practice, healthcare spending, and private health insurance. Resources/links: Will house prices go up in 2023? The answer largely depends on interest rates - ABC...

Today we chat with Dan Sofo, Sydney buyers agent who covers bluechip areas such as the highly desired Eastern suburbs. We cover his journey from hospitality to real estate, his investing philosophy. Stay tuned to learn some tips on property negotiation. -long hours, and managing 70 staff in hospitality business -importance of assets outside of business -solving problems as a buyers agent -Dan&apos...

Margaret Lomas is a recognised Australian property expert, and the best-selling author of nine property investment books, including 20 Must Ask Questions for Every Property Investor. Dr Dan shares his thoughts, and some key takeaways: 1. Identifying tomorrow's blue chip areas can boost your returns. 2. Appealing to families is important- owner occupiers tend to drive capital growth. 3. Avoid...

Awesome interview with Steve Palise, commercial buyers agent. Some highlights: •first property purchase going from 230k to 330k in 1 year! •making the switch from residential to commercial •myths around capital growth of commercial •how you can get into commercial from as low as 150k purchase price •doctors often setting unrealistic passive income goals •pros and cons of Commercial Listen to the e...

Common scenario- household with 1 or 2 doctors,  high incomes but high expenses:  mortgage, insurance, CPD, private school fees for kids, some holidays, etc. And of course, most doctors don't earn the big money until their 30s (or even later), whilst other professions would have had a head start earning and investing in their 20s. In this episode, I explore why some doctors are not as financi...

Controversial topic: GPs in Australia switching to private billing. In this continued interview with Dr Suresh Khirwadkar, he shares: • why more doctors are moving away from bulkbilling • benefits in private billing •fears around drop in patient numbers •social media! sharing about carnivore diet, growing his Youtube channel and podcast Resources/links: Find more about what Dr Suresh is up to at:...

Today Dr Suresh Khirwadkar shares his journey, from NHS in the UK, to working as a GP in Australia. We talk about how money lessons in childhood influence him today, turning $500 into $500,000 with a timely property decision, and then the challenges associated with constructing a house in post-COVID and higher interest rate world. Resources/links: The Meat Medic Passive Income with 2.5Million doll...

Doctors are trained to put patients first, but how often do they take a moment to look after themselves? From unpaid overtime, to working through lunchbreaks, to extracurricular commitments to boost CV... self-care is important to prevent burnout. 3 aspects of self-care I explore in this episode: physical, mental, financial. Resources/links: Self-care-and-mental-health-resources-for-general-practi...

Common question I’m often asked, is how do you determine how much to offer for a property? The agent has listed a price guide, but what is it actually worth? Other topics covered: How to use comparable sales to your advantage. How to challenge a bank valuation. Mindset minute-  Risk comes from not knowing what you are doing. Resources/links: How does a professional valuer assess what your property...

Why is borderless investing on the rise? Investing interstate can mean professionals living in expensive cities, are able to get a foot on the property ladder. In this episode, I share experiences with investing in other cities,  factors to consider when choosing a suburb,  gentrification and a lot more.\ Resources/links: Can you predict which parts of Sydney will be next to gentrify? | Sydney | T...

Why are so many doctors unhappy? Why do some always struggle with money, whilst other people seem to have money under control? Today we explore ‘Happy Money’and lessons learnt from this bestseller book. Resources/links: Why are doctors so unhappy? - PMC (nih.gov) Happy Money: The Japanese Art of Making Peace with Your Money : Honda, Ken: Amazon.com.au: Books Another book review:  20 Must Ask Quest...

6 properties in 18months! Today I interview Richard Bharata, an investor who has turned his hobby into his own business, helping others purchase properties also. We talk about his professional background, his drive for passive income, and lessons he has learnt along the way. Resources/links: Buyers Agency – Buyers Agency (ipropertyfinder.com.au) Richard's email- richard@ipropertyfinder.com.au...

Scarcity vs Abundance mindset, this important concept influences our personal and financial life.  Often feelings of jealousy or inadequacy arise when we see a colleague, or even a stranger having more success than us. Another aspect of scarcity mindset is frugality, and saving at all costs, and this may be ingrained from an immigrant background. And finally, we touch on how doctors are trained in...

Today, we interview Dr Anurag Ganugapati, an Emergency doctor based in Victoria, and founder of app StatDoctor. We discuss his journey into medicine, what experiences he has had in New Zealand and Australia. From Otago University, to busy ED departments in Victoria, to locum life. We also talk about his money backstory, and investing philosophy. Finally, Dr Anu shares his tips for medical students...