Why Would An ER Doctor Leave Medicine And Become A Real Estate Investor?- with Sunil Saxena- EP 133

During this episode of the Lab Coat Agents Podcast, Jeff talks to Sunil Saxena from the DC market. Sunil is a doctor turned real estate investor, home builder, renovator, general contractor, and bestselling author. He has 20 years of experience in the real estate industry and is an active user of Tik Tok. Episode Highlights:  Sunil talks about his transition from a doctor to a real estate investor. He is an Indian and graduated from medical school. He practiced in DC for about eight years and got really tired of the grind. He then decided to transition to real estate. Sunil says that only one insurance company is left that would ensure physicians as emergency physicians, and our premium went out four times that year. So, they were paying 4X on our malpractice insurance. There is no room at all to change the billing, so that it’s kind of like an artificial thing that the insurance companies and the government have created.  Jeff asks, “How far were you into your doctor career when you said I’m going to shift, and I assume this shift was – I am going to Tik Toking and keep being a doctor while I invest until I build up enough of an income or revenue stream that I can break away is that what you did?” Sunil couldn’t just leave medicine 100% and just jump over real estate. He was working in the ER and kind of built this business from the side. You don’t have to have money to become a real estate investor. You can build a capital base. But when you start doing rehabs and actually invest in real estate, you need some capital level. Jeff inquiries about Sunil’s strategy and recommendation to the young potential real estate investor on how to become successful in business.  Managing contractors is a job in itself, getting them to show up sometimes, going there and actually managing them to get the job done is also a task. He asks Sunil’s advice for finding the right contractors. Sunil has 200+ units in development right now with condos. They would overwhelm 11 plumbers with all the work. Talking about his career progression Sunil says, there are three types of rehabs: 1) You are just operating footprint. 2) Expanding the footprint -that’s adding a family room or kitchen or adding square footage in some way. 3)  You scrap the house completely, and then build something new.  Simple rehabs can be like relatively quickly. You can get started in them, but if you want to graduate to Level 4 and 5 which are bigger projects, you need that experience to be able to do this. Sharing about his TikTok journey, Sunil says, they hired a full-time social media person because their end game with social media is raising capital. If they get more capital, they can raise more projects. That is how they monetize it. Sunil shares how he is using Instagram in comparison to TikTok. Sunil talks about exotic cars and social media content. Jeff says, “As an owner, you are doing something with cars that most of the world is not, which is getting into an appreciating situation versus a depreciating one.” 3 Key Points:  Sunil builds condos.  Material costs have gone up 10% this year in the last six months, so he will go sell that condo for 10% more. In medicine, you can’t do that. The insurance companies tell you what you can charge. Talking about his recent projects, Sunil says they are doing between 6-to-50-unit buildings in DC. Last week they purchased a 36 unit building to turn into 36 luxury condos.  While providing details of TikTok, Sunil shares insightful details about the benefits of the platform.  Resources Mentioned:  Lab Coat Agents | Website | Facebook | Facebook Group | Twitter | Instagram  Jeff Pfitzer   | Instagram | LinkedIn | Twitter Sunil Saxena |  Website | Instagram | TikTok  RedX (sponsor) Street Text (Sponsor)