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EP109 - A Resource for Aspiring Physician Owners and Investors with Jeff Anzalone, MD

Today’s episode, I welcome Jeff Anzalone, a peridontist who uses his blog, Debt Free Doctor, to educate other physicians and share what he has learned in order to assist others. During the course of the episode, we will discuss the reasons behind why he initially invested in commercial real estate.

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In this episode, we talk about…

[2:11] Jeff’s background on how he became a practicing physician and his journey of a physician investor 

When he returned to Louisiana after a failed business venture two weeks before he finished his LSU training, he found himself $300,000 in debt. He didn’t come from a financially secure background, but he was able to get out of debt by following Dave Ramsey’s strategies. Because of his inability to work following a skiing accident, he and his family needed to come up with a plan for generating cash in his absence. He discovered real estate investing through his own research.

[5:53] Summarizing the blog and issues surrounding selling a medical practice and whether you need an exit strategy 

Jeff continues his explanation by stating that it is essential to have an exit strategy since it presents the opportunity for another source of income.

[9:32] The attractiveness of passive income through syndications 

A significant portion of the real estate is held in the form of passive real estate syndications. Instead of selling all of your properties or having other tenants pay rent, which is where the bulk of your passive income comes from, you can sell your building before you retire and get your initial investment back. This will allow you to retire with a healthy nest egg. Paying attention to passive income rather than active income because the former does not fluctuate, but active income might be affected by changes in working hours.

[11:50] Why it’s important to have a property manager while you are still actively practicing 

If a physician uses income from real estate as a primary source of revenue, then the physician ought to hire a property manager to take care of the property while the physician is at work during the day.

[13:41] Jeff explains what he has done in regards to medical office syndication, partnerships and medical offices. 

He is currently vetting two groups and it has been seen that surgical centers have gained in popularity. Because of this, he intends to transform those into yet another asset.

[14:12] Thoughts on a sale leaseback and why it’s attractive to the market  

Everyone who has put money into this kind of syndication has emerged from the experience more than satisfied. While you are working on this, you need to make sure that you have done your research and that the appropriate people are involved.

[17:24] Jeff discusses what the most fun real investment he has done so far 

Jeff owned an apartment complex in North Carolina along with an IRA in its previous form. It was originally anticipated that it would take five years before he would get a return on his investment, but he was able to do so in just two years.

[19:29] What Jeff would be doing if he changed careers 

His objective is to move away from private practice and devote more of his time to the fields of real estate and education, all the while maintaining partnerships and move into general partnerships with the groups he has been active in.

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