As a busy professional, chances are you’ve got people trying to bend your ear constantly about investment opportunities. And sure … some of them sound amazing, but how do you know you’re getting in with the right people? Or maybe real estate investing is what you want to do, but you don’t have the time for it.
That’s where our guest Dr. Buck Joffrey found himself as a busy surgeon. Now, 10 years later, he’s killing it with a successful podcast and real estate syndication organization.
This week, we’re talking about passive real estate investing … passing the heavy lifting to someone else while YOU get the return.
In this episode of The Real Estate Guys™ show you’ll hear from:
- Your hands-on host, Robert Helms
- His second-hand co-host, Russell Gray
- Guest, Dr. Buck Joffrey, host of the Wealth Formula podcast, real estate syndicator, and board-certified surgeon
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Get returns … without getting your hands dirty
Real estate is a messy, hands-on type of business. And while you can do all kinds of research beforehand, the best learning is on the job.
If you don’t have time to manage your own deals, passive investing could be the right move for you.
Passive investing gives you the benefits and returns of real estate … taxes, income, and diversification as well as the turn-key ease of setting and forgetting your investment.
The appeal of real estate investments is partly because your assets are tangible. You can go visit your building, and it occupies more than just a piece of paper or line on a ledger.
But, real estate takes time to understand the market, vet the deals, go through all the paperwork, and then manage a property afterward. You might be thinking, I don’t have time for that, I’m running my own business, and it’s taking all my time.
Joining up with other investors is how to leverage the expertise of others and even tag along to become a student yourself, all while getting in quickly and easily. It really can be whatever you want to make it be for yourself!
Find your investing tribe
As a busy professional himself, Dr. Buck Joffrey discovered early on in his real estate investing journey that he wanted to find like-minded people to invest with.
“If I got involved with a good syndicator who knew what they were doing, those returns and all those benefits I wanted out of real estate were there anyway,” Buck says.
And, once he found people he knew, liked, and trusted in the real estate space, the hardest part was over.
“What I realized is that if I could invest in such a way that if I did a lot of vetting and due diligence and I knew other people were involved … my chances of success went way up,” Buck says.
It wasn’t long before Buck’s friends started asking what he was doing and how they could get in on it too. All of this relationship building is what Buck calls tribal investing. And this approach is key to his success.
“Your network is your net worth,” Buck says. “I look more at the team than I do the deal. If you know, like, and trust somebody and you know their track record, then you can get to the point and can look at a pro forma.”
The relationship is just the building block to a good deal … Buck also notes that while there are lots of folks who he knows and likes, he may not be excited about the deals they’re doing. Just a little education about the types of investments you’re considering will go a long way.
Condensing your education timeline
As with any investment, you need to know enough to ask the right questions so you don’t get burned. But, as a busy professional, adding in time for that education can be a heavy lift.
That’s why Buck’s networking style translated perfectly into his new course, “Your Roadmap to Real Wealth.” It’s not just Buck teaching the course … he’s tapped into his deep network to bring in experts that share with you what he learned over a decade over a condensed timeline.
“One thing that everyone has in common who is on the show is that I have a relationship with them,” Buck says. “This is my tribe talking to me as a young physician.”
Buck has gathered experts in real estate … INCLUDING yours truly, The Real Estate Guys™ as well as estate planners, and many, many more.
We asked Buck about how passive investing works into the diversification angle. Buck mentioned he was initially interested in apartments as a first investment.
“What I realized was that I was trying to get at scale,” Buck says. “With syndication, you can take the same two or three hundred thousand dollars and now you’re in four, five, six buildings, and you’re in thousands of doors, and you’re across the country!”
Syndication gives you the opportunity to allocate your risk, and use your capital more efficiently. And all of that diversification collapses your time frame and gets you more cash flow sooner!
To learn more about passive investing and Buck’s course, “Your Roadmap to Real Wealth,” send an email to [email protected]. We’ll hook you up with all the details!
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The Real Estate Guys™ radio show and podcast provides real estate investing news, education, training and resources to help real estate investors succeed.