Three Biggest Blind Spots Doctors Face Investing in Rental Property - SI Homes

Dear White Coat Investors,

All Doctors and medical professionals have blind spots relating to rental properties, whether it is their first property or their hundredth. Here are the top three that we've found investors face:

1. Location, Location, Location: You've heard it before, and it holds VERY true – location is paramount. Buying in the wrong areas, with the wrong landlord laws can be detrimental to your success. Many investors underestimate this blind spot. Other new investors just have no idea how to figure out the fundamentals that constitute a good location to own.
2. Old vs. New Homes: Older homes can appear more friendly on the TV shows then they actually are in real life investing. If you start with deferred maintenance, your expenses and time commitments usually only get worse. This one blind spot can sink a rental property's success. Instead, don't overlook the option of new construction, which can offer higher durability, reduced maintenance costs, and better long-term returns.
3. Lone Ranger Approach: The lone ranger approach might sound heroic, but in real estate investing, collaboration is key. You cannot do it on your own. Most people who try end up spending a ton of their spare time in vain. Owning rental property is a team sport and you must have your team in place before you take the playing field! Assembling a reliable team of professionals is critical for a smooth property investment journey.

Full disclosure: We have an advertising relationship with Southern Impression Homes, meaning we get paid for making this introduction and sharing this content. Please consider this an introduction and not a recommendation. And as always, be sure to do your own due diligence when looking at this or any other investment opportunity.

How can you avoid these blind spots and build a successful rental portfolio that provides cash-flow and equity growth?

Many White Coat Investors have through Southern Impression Homes.

Southern Impression Homes is one of the most successful Build to Rent Companies in the United States. They specialize in helping busy professionals build successful rental portfolios (single family homes, duplexes, and quads) in high growth markets in Florida with ongoing property management in place. Working exclusively in new construction, they can provide better inventory, less tenant turnover, lower maintenance and repairs and positive overall increases in both rents and values.

While most builders may take a year to complete a new home, Southern Impression homes and their building system allow you to close on a new construction property in less than 60 days.

If you haven't gotten to watch Jim Sheils' talk from our annual event, it gives a lot of clarity to their values and how they run their company. You can do so here.

Why Florida? Radiant sunshine, stunning coastlines, and robust economy, is at the forefront of a remarkable real estate triumph, offering a wealth of positive prospects for investors and homeowners alike. Even as other areas of the United States struggle, key markets in Florida continue to thrive.

Let's explore the compelling reasons why Florida's real estate market is currently leading the nation in growth and promise:

• An Unstoppable Growth Engine: Florida's real estate market has been firing on all cylinders, delivering consistent and unparalleled growth year after year. According to recent reports, the state has outpaced other major markets in terms of population growth, economic expansion, and housing demand. The remarkable pace of development and the continuous influx of new residents and businesses contribute to the state's thriving real estate landscape.
• Soaring Population Numbers: Florida's population growth has been nothing short of astounding, with thousands of individuals and families flocking to the state yearning for its unbeatable lifestyle and promising opportunities. As the nation's third most populous state, Florida continues to witness a surge in population due to its robust job market, favorable tax environment, and enviable quality of life. This population boom translates into increased demand for housing, creating a vibrant and lucrative real estate market.
• Diverse Economic Powerhouse: The Sunshine State boasts a diversified and resilient economy, which serves as a strong foundation for its real estate success. From tourism and healthcare to technology and aerospace, Florida offers a diverse range of industries that generate abundant employment opportunities and drive economic growth. A thriving economy attracts businesses, employees, and investors, amplifying the demand for commercial spaces, residential properties, and rental units.
• Favorable Tax Environment: Florida's favorable tax environment is a magnet for individuals and businesses seeking financial advantages. The absence of state income tax and estate tax, combined with the homestead exemption, places Florida in a unique position compared to many other states. This enticing tax landscape not only attracts buyers and investors but also provides favorable conditions for long-term wealth accumulation through real estate ownership.
• Exceptional Quality of Life: Florida's exceptional quality of life is a key factor fueling its real estate triumph. The state's year-round warm climate, world-class amenities, recreational opportunities, and diverse cultural scene make it an enticing destination for people of all ages. Whether it's the stunning beaches, vibrant city life, or peaceful suburbs, Florida offers a lifestyle that resonates with individuals seeking an enviable and fulfilling existence.

Most clients visit Southern Impression Homes concerned with rising interest rates, inflation and even the potential of a coming recession. For the right investor, their system for direct property ownership (along with in-house financing at 4.75%) delivers amazing results to help overcome these issues quickly and completely.

The overall goal: create a cash-flowing rental portfolio for you and not require more than thirty minutes a month of your time.

If you would like to learn more on the current state of the Florida Real Estate market and how to create Passive Income through build to rent, Southern Impression Homes will be hosting a webinar at 3 Pacific/6 Eastern p.m. on August 17^th. Jim Sheils will close the session with a live Q&A to answer any questions you may have about Southern Impression Homes and how the Florida Market is defying all other markets across the US. We encourage you to join, ask questions, and do your own due diligence. You can register for the webinar here.

If you are interested in learning more about this build to rent opportunity, please click here or email SI Homes at info@passiveincomeplaybook.net.

Visit SI Homes on the web at: www.SouthernImpressionHomes.com. You can also follow them on social media! Facebook, Instagram, TikTok and LinkedIn.

Get to know Southern Impression Homes today!

Thanks for your time. As always, your feedback is welcome and appreciated.

Jim and Brett

James M. Dahle, MD, FACEP
Founder, The White Coat Investor

Brett Stevens, MBA
COO, The White Coat Investor

We only want to send you emails that you actually want.

Unsubscribe from these Real Estate Opportunities emails

Subscribe to monthly newsletter
Subscribe to daily financial article emails
Hear about real estate webinars

If you NEVER want ANY emails from us again, you can unsubscribe from EVERYTHING | Update your email address by clicking here
White Coat Investor | P.O. Box 520421, Salt Lake City, Utah 84152