Real Estate Investing – Dr. Plastic Picker
 

Tag: Real Estate Investing

My happy place.
I love love our house in Northern Virginia. Really nice pavers.

May 27, 2020

by drplasticpicker

It is almost the end of May and the third calendar month that we have been #shelteringinplace and #stay(ing)home. I talked to my sister yesterday and as a nonmedical person she gets frustrated that her neighbors are slowly breaking down those physical barriers, and may increase the spread of COVID-19. A friend traveling to a vacation area. Families now meeting in the backyard. While she holds the line because she has to make sure some important people remain protected. I’m the older sister who is a pediatrician, and I advised her to do what she knows is right. The world will do what it is doing, and we can’t stop the world from going what is it going through – but we should not accelerate it.

CNN and the major news outlets do not stress me out as much anymore. What is happening now in California is what we expected. We closed down early, and our rate of infections was slow. But now sandwhiched between the crazies in Orange County that are going to beaches without masks and our less medically equipped Southern neighbor Tijuana, of course our community will see an uptick in cases. We had thought through various prediction models and I think the Pediatric Infecitous Disease head had said also during one of the weekly lectures, that we should expect things to peak mid June. So here we are, rising slowly and peaking but slowly. We are not the travesty of New York City. But then people will get together like they did undoubtably like this last Memorial Day weekend, and there will be another peak. The second wave will come, and we are all just playing our bit parts.

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Kitchen of our new likely rental home.

April 11, 2020

by drplasticpicker

I’ll be blunt here. Physicians are not for the large part good stewards of their own money. Physicians often think other fields are easier than our own work. I hear this a lot. Some of my colleagues think there is easy money in real estate investing, yet rarely do those same people have actual real estate outside of their primary home. It’s kind of a minor insult to true real estate professionals, just like a parent telling you they could drain an abscess better than you could with a sewing needle and exacto knife.

To actually support a middle-class or upper-middle-class family solely through the real estate boom and bust cycles of the market is not easy. Like performinig surgery, real estate investing requires a very specific skill set. It requires negotiating, managerial skills interacting with skilled laborers and tenants, having good accounting skills and being able to take on financial risks. You need to know about the specific tax laws, termite inspections, cost by the square footage of decking material and on and on. It also requires time and focus and attention to detail.

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