Episode 21. Peter Kim, MD -- Help with buying your home

Episode 21 Doctor Money Matters. Welcome to another Doctor Money Matters episode. I would like to thank you for listening. It’s been a year since I started this podcast and creating it has been a great educational experience for me. I really appreciate all my guests for participating and joining me on this journey and I hope you the listener have gotten something out of it as well and my ultimate goal is to help physicians and other health care professionals reach financial independence earlier by avoiding the usual pitfalls that has tripped them up previously. I have made many of these mistakes including buying a house in Las Vegas right out of residency at the height of the real estate bubble. I didn’t listen to my own instincts and bought a house even though I knew the price was too high. Well within a few months, the prices dropped and kept dropping for 4 years till prices were 60% less than my purchase price and 70% less than the peak. It was an expensive lesson that has definitely affected my views on personal real estate. My guest on this episode is Dr. Peter Kim, an anesthesiologist, entrepreneur who helps physicians with one of the biggest purchases they have, their home. Peter is the founder of Curbside real estate which we will talk about on the show. We discuss his approach to buying your own home, what a physician loan is, the status of the real estate market. We also discuss how is able to juggle being a physician, father, entrepreneur and his advice for medical students and residents. I want to thank Dr. Peter Kim for being my guest on this episode of Doctor Money Matters. Buying a home is one of the largest purchases most of us will make, but it can be made easier by getting good advice. My advice is that a personal residence is not an investment but rather an expense item. It can turn out profitable but I wouldn’t rely on it to appreciate. Peter’s company can be found at Curbsiderealestate.com Please let your friends know about this podcast by sharing it on text, whatsapp or whatever social media platform you are on. More episodes of this podcast are available at www.doctormoneymatters.com and Apple Podcasts, Google Play, Stitcher, etc. All episodes are also now on YouTube (Audio only) and Facebook. You can follow me on twitter @drmoneymatters Please consider joining the Doctor Money Matters Facebook group. Thanks for listening and please leave us positive reviews and continue to share this podcast with your colleagues. Some other physician hosted podcasts that I recommend are: Docs Outside The Box The Hippocratic Hustle The Happy Doc Doctors Unbound The White Coat InvestorThere are many others, so please support your physician colleagues.

Om Podcasten

Welcome to the Doctor Money Matters podcast. I am your host Dr. Tarang Patel, a practicing diagnostic radiologist in Phoenix, AZ. I started this podcast as a way to share knowledge about financial matters as they relate to health care professionals. We spent many years learning about the science and art of providing patient care but most of us have relatively little knowledge about reaching financial well being. I know that I had no formal training in setting up investment accounts, negotiating contracts, buying insurance, buying real estate, etc. I just learned by reading and also by making many mistakes. Health care professionals are trusted to take put their patients needs first and we in turn assume everyone in other fields work the same way. Unfortunately this is not always true. By talking about these topics, I hope we can reduce the many financial mistakes that prior generations of doctors have made. Those physicians were able to overcome these mistakes because of shorter training periods, less debt, and they were more likely to be in private practice. Today we no longer have those luxuries and many of us have significant debt burdens. The good news is that we also have access to information that the prior generation never had. A little background about me. As I said before I am a practicing radiologist in Phoenix, AZ. I went to undergrad at Indiana U. (Go Hoosiers), medical school at the Kirksville College of Osteopathic Medicine (Now AT Still Univ) in Missouri, moved east and did my radiology residency at New York Hospital-Weill Cornell Medical Center in Manhattan. I then moved west to serve my Air Force commitment at Nellis AFB in Las Vegas, NV. I then did a fellowship in Body/Musculoskeletal Imaging at Mayo Clinic Arizona. Since I finished training I have been in a hospital employed group for the last 6 years. I have always enjoyed learning about finance and have read (listened to) many of the financial books. I also spent time reading on the bogleheads.org forum which I found to be a valuable source of information. Finally I just observed that many of my colleagues and I had the same questions about relatively basic financial matters but it was difficult to find clear answers. Hopefully you find these podcasts useful. I encourage you to subscribe to them, that way you will be updated when any episodes are released automatically. Also please let your friends and colleagues know about this podcast. Please give us good feedback on iTunes, Google Play and stitcher and if you have suggestions on topics or how to improve the podcast please send your emails to comments@doctormoneymatters.com Social media links: twitter @drmoneymatters Facebook www.facebook.com/doctormoneymatters/ Please understand that this show is for entertainment and education only and you should do your own research and speak with the appropriate experts prior to making any changes in regards to material you may have heard on the show. The opinions from the guests on this show are their own and do not necessarily reflect those of the host or of Doctor Money Matters, LLC.