David Bright and Nate Hedrick talk through five common objections to getting started in real estate investing. Key Points From This Episode

• An introduction to today's guests, hosts of the YFP Real Estate Investing Podcast, David Bright and Nate Hedrick.
• Addressing Objection number 1: I don't have enough time!
• Why hiring a property manager saves you money and saves you time.
• The second common objection: not knowing where to get started.
• What David's strategy has been at the forefront of his plan.
• Responding to the objection that managing just one property is already overwhelming.
• Answering the objection that the market is volatile.
• How there is no way to time the market and the best call is to make sure the numbers work no matter what.
• David's response to the objection that folks don't know how to build a real estate team.
• How connecting with a real estate agent can be the first step to putting together the team you need.
• Why they launched the YFP Real Estate Concierge: to help you find investor-friendly agents.
• Nate's biggest takeaway from hosting the podcast: the interesting ways that pharmacists are investing.
• What David has learned through hosting the podcast: getting out of his own head and into the community with others is critical.
• What listeners can expect from the YFP Real Estate Investing Podcast going forward including the None to One Group Coaching program.

Links Mentioned in Today's Episode

• Listen to the YFP Real Estate Investing Podcast
• YFP Planning: Financial Planning for Pharmacists
• Schedule a free Discovery Call with YFP Planning
• YFP 167: Must Know Real Estate Terminology
• None to One Group Coaching Program
• BiggerPockets Podcasts
• Roofstock: 20 surprising rental property owner statistics [2022 Edition]
• Join the YFP Real Estate Investing Facebook Group
• YFP Real Estate Investing
• YFP Real Estate Concierge Service
• Find an Investor-Friendly Agent
• Download The Pharmacist's Guide to Real Estate Investing
• Your Financial Pharmacist Disclaimer and Disclosures

Welcome to Ask a YFP CFP®, a segment of the Your Financial Pharmacist Podcast! On today's show Tim Baker, CFP®, takes this question from Jonathan in Southern California: Should I sell assets from my brokerage accounts to fund real estate investment properties?

Mentioned on the Show:

• YFP Planning: Financial Planning for Pharmacists
• YFP Real Estate Investing Podcast
• YFP Real Estate Investing
• Download The Pharmacist's Guide to Real Estate Investing
• Find an Investor-Friendly Agent Send in your questions here or to [email protected]
• Your Financial Pharmacist Disclaimer and Disclosures

Disclaimer: This podcast is intended for educational purposes and should not be considered financial or investment advice as we do not know all the variables to one's personal situation when answering a question.

Tanh Truong discusses the differences and similarities between the residential and commercial real estate spaces and why he purchased a five million dollar strip mall. Key Points From This Episode

• An introduction to today's guest, Tanh Truong, and his five million dollar investment.
• The building's location, size, tenants, and price.
• How he discovered the deal on a poorly marketed website.
• The two anchor tenants: Dollar Tree and Loman's Furniture.
• What led him to consider investing in commercial property over residential homes.
• How cap rates are used to measure how well a property is doing.
• Why a higher cap rate usually means that a property is operating well.
• Which cap rate you should look for and what you should base this on.
• The total expenses involved in the five million dollar deal and what this translates to.
• How bringing tenants into a space and getting the rents up increases the value of the property.
• How the deal flow differs between single and multi-family property and commercial property.
• How Tanh had to leverage his partners in order to qualify for the loan he needed.
• Why traffic count is important for your plaza to actually succeed.
• Navigating the due diligence phase in commercial investments.
• Why he sees his role as a landlord as helping his tenants to succeed.
• How Tanh feels about the future of cap rates.
• The typical division of ownership among partners.
• Why Tanh is choosing to focus his energy on the commercial realm.

Links Mentioned in Today's Episode

• YFP Real Estate Investing 04: How (and WHY) One Pharmacist Got Started in Real Estate Investing
• YFP Real Estate Investing
• Join the YFP Real Estate Investing Facebook Group
• Your Financial Pharmacist Disclaimer and Disclosures

Dr. DeLon Canterbury recounts how early setbacks motivated him to start a business in the middle of a pandemic and how his personal 'why' shaped the work he is doing to help solve the problem of mismanaged medications in the senior population.

Key Points From This Episode

• How DeLon's love of medicine was inspired by his mother's expertise in herbology.
• What moved him to get his Board Certified Geriatric Pharmacy degree.
• The recognizable dark road that almost led him out of the profession.
• How the experience of not getting into residency turned out to be a blessing in disguise.
• How DeLon's involvement with community helped him learn to lead by service.
• The pivot point that reinvigorated his passion for pharmacy.
• The power of patient advocacy and teaching patients to advocate for themselves.
• About his work with a local nonprofit for older patients and what services they provide.
• Hear about the care GeriatRx provides, from advocacy to deprescribing methods.
• DeLon's moving story of his 'Why' and becoming the voice for caregivers and patients.
• Some of the groups he works with and their incredible service to underserved people.
• A story of being an expert medical witness and the ugly part of families and elderly care.
• Getting into the finances; how he got the capital to create this business.
• Learning to articulate his value when he was starting out.
• DeLon shares some great entrepreneurship advice for his fellow pharmacists out there.

Links Mentioned in Today's Episode

• YFP Planning: Financial Planning for Pharmacists
• Schedule a free Discovery Call with YFP Planning
• GeriatRx: Senior Care Consulting
• Senior PharmAssist
• Alzheimer's Association
• Parkinson's Association of the Carolinas
• Dementia Alliance of North Carolina: Support Groups
• Connect with GeriatRx on Facebook
• Connect with DeLon Canterbury on LinkedIn
• Follow DeLon Canterbury on Twitter: @GeriatRx
• Follow DeLon Canterbury on Instagram: @geriatrx
• Email DeLon Canterbury: [email protected]
• Your Financial Pharmacist Disclaimer and Disclosures

Welcome to Ask a YFP CFP®, a segment of the Your Financial Pharmacist Podcast! On today's show Tim Baker, CFP®, takes this question from Nicole in Cincinnati, Ohio: Are computer-managed investments better than an individual managing your account?

Mentioned on the Show:

• YFP Planning: Financial Planning for Pharmacists
• YFP 075: DIY, Robo or Hire a Planner?
• Create a Comprehensive Estate Plan with Thoughtful Wills
• Send in your questions here or to [email protected]
• Your Financial Pharmacist Disclaimer and Disclosures

Disclaimer: This podcast is intended for educational purposes and should not be considered financial or investment advice as we do not know all the variables to one's personal situation when answering a question.

Nate Hedrick and David Bright discuss how to determine your repair and capital expense budget for your properties and how these two budget lines can make or break your investment.

Key Points From This Episode

• A reminder to keep repairs and capital expenditures separate when budgeting.
• Defining the two categories and some example issues of each.
• Some different theories and approaches, and the advantages/disadvantages of each.
• Three quick tips to keep in mind when trying to estimate repairs.
• Some examples of what we've done to minimize things that could go wrong.
• How to take into account the age of the property and fixtures.
• Ways to use your sinking fund, plus a reminder to be flexible to include inflation.
• Four market-dependent CapEx points to be intentional about when finding houses.
• The importance of talking to a local expert when evaluating rent prices.
• Some great resources for you, from articles to podcast episodes to a free guide.

Links Mentioned in Today's Episode

• YFP Real Estate Investing 06: Picking (and Switching) Property Managers
• YFP Real Estate Investing 14: Protecting Your Investments
• YFP Real Estate Investing 35: Making Connections Through Local Real Estate Meetups
• Register for a Your Financial Pharmacist Webinar
• How to Estimate Future CapEx Expenses on a Rental Property by Brandon Turner
• YFP Real Estate Investing
• Find an Investor-Friendly Agent
• YFP Real Estate Investing 18: Tax Strategies for Real Estate Investing
• Download The Pharmacist's Guide to Real Estate Investing
• Join the YFP Real Estate Investing Facebook Group
• Your Financial Pharmacist Disclaimer and Disclosures

Tim Baker talks through two I's that you might be overlooking as it relates to your financial plan: inflation and I-Bonds.

Key Points From This Episode

• Kicking off with inflation; what the term actually means and why it's the current hot topic.
• Breaking down the inflation statistics and how it's affecting your buying power over time.
• Encouraging the listener to start by listening to Ask a YFP CFP® episode 93
• Introducing I-Bonds, not to be confused with E-Bonds.
• Who the I-Bond is suitable for, and the big potential drawback: the holding period.
• Some of the interesting and quirky rules of I-Bonds.
• Why methods to protect you against inflation are important.
• How folks often underestimate their nest egg needs because of not considering inflation.
• Talking about inflation in the context of an emergency fund.
• Tim offers some different ways you can slice the apple, depending on the scenario.

Links Mentioned in Today's Episode

• Join the YFP Tax Waitlist
• Investopedia: What is inflation?
• Your Financial Pharmacist Webinars
• Ask a YFP CFP® #93: Is it ok to have a portion of my emergency fund in electronic U.S. Treasury Savings Bonds?
• TreasuryDirect
• Series I Savings Bonds: End-Of-Year Strategies To Take Advantage Of The Current High Interest Rate
• YFP Planning: Financial Planning for Pharmacists
• Schedule a free Discovery Call with YFP Planning
• Your Financial Pharmacist Disclaimer and Disclosures

Welcome to Ask a YFP CFP®, a segment of the Your Financial Pharmacist Podcast! On today's show Tim Baker, CFP®, takes this question from Andrew in Cincinnati, Ohio: Should I use a 15-year or 30-year mortgage when buying or refinancing a home?

Mentioned on the Show:

• YFP Planning: Financial Planning for Pharmacists
• Homebuying Resources
• Send in your questions here or to [email protected]
• Your Financial Pharmacist Disclaimer and Disclosures

Disclaimer: This podcast is intended for educational purposes and should not be considered financial or investment advice as we do not know all the variables to one's personal situation when answering a question.

Josh Ebbing talks us through his last few years in real estate and what he's done to both find and fund the deals that have allowed him to scale so quickly.

Key Points From This Episode

• Introducing Josh Ebbing, a fellow real estate investor who is doing incredible things.
• How he jumped right into real estate and how his portfolio has shifted since then.
• Overcoming deal paralysis and accepting that it's always going to be a leap of faith.
• The two common factors that galvanized him to get his real estate license.
• How the pharmacy traits of ethical prowess – and record-keeping – have helped him.
• Falling in love with the passive income and tangible results of real estate.
• Josh's advice for anyone starting out.
• Hear about the moment he ditched the do-it-yourself, sweaty equity approach.
• Finding the work-life balance, and how Josh works with his goals.
• We dig into cash flow in single families versus multifamily units.
• Hear a story of a great multifamily purchase he made from the for-sale sign on the lawn.
• Finding and funding the deals that have led to his exponential growth and success.
• Josh's overarching goal for 2022 and some sage advice around planning.

Links Mentioned in Today's Episode

• YFP Concierge Service
• BiggerPockets
• Reddit: Real Estate Investing
• TikTok
• Ohio Housing Finance Agency
• Follow Josh Ebbing on Instagram: @realtorjoshebbing
• Red Oak Realty
• YFP Real Estate Investing
• Join the YFP Real Estate Investing Facebook Group
• Your Financial Pharmacist Disclaimer and Disclosures

Mike Koelzer, CEO of Kay Pharmacy and host of The Business Pharmacy Podcast, discusses the mindset, habits, and behaviors of successful pharmacy influencers and entrepreneurs.

Key Points From This Episode

• How the family business started.
• Hear about the creation of The Business of Pharmacy podcast.
• Mike's approach to maximizing his time each day, and how to use lists more efficiently.
• What common threads Mike's guests have, striving to achieve something great.
• How focus and goal-setting are like sailing.
• The amazing ways we are now able to receive feedback faster and pivot quicker.
• Mike shares some actionable advice about how to get started with any new idea.
• The general outlook most guests have on the pharmacy profession.
• Talking about luck versus hard work.
• A common thing that takes people out of just being satisfied with the status quo.
• Mike's strong advice for those who have dreams but are struggling financially.

Links Mentioned in Today's Episode

• Kay Pharmacy & Home Medical Equipment
• The Business of Pharmacy Podcast
• YFP Planning: Financial Planning for Pharmacists
• Schedule a free Discovery Call with YFP Planning
• The Business of Pharmacy Podcast: Is Pharmacy School Worth It?
• Procrastinate on Purpose: 5 Permissions to Multiply Your Time by Rory Vaden
• Getting Things Done: The Art of Stress-Free Productivity by David Allen
• How I Built This with Guy Raz
• 17 Questions That Changed My Life by Tim Ferriss
• The 4-Hour Workweek: Escape 9-5, Live Anywhere, and Join the New Rich by Tim Ferriss
• Start.: Punch Fear in the Face, Escape Average, and Do Work That Matters by Jon Acuff
• Tribe Of Mentors: Short Life Advice from the Best in the World by Tim Ferriss
• 12 Rules for Life: An Antidote to Chaos by Jordan B. Peterson
• Beyond Order: 12 More Rules for Life by Jordan B. Peterson
• Connect with Mike Koelzer on LinkedIn
• Your Financial Pharmacist Disclaimer and Disclosures