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Three Things You Need to Do to Begin Your Investing Journey with Dr. Drew Wiard
Manage episode 349067608 series 3394108
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If you’re at the beginning of your investing journey and trying to figure out how to get going, there are three things you have to do – network, educate yourself, and take action. This is how Dr. Drew Wiard started, and we’ll hear about his journey from being a pharmacist to a successful real estate investor in this episode!
Listen and be inspired as Dr. Wiard talks about how he scaled from his first house rental to multiple real estate investments! He also shares his mindset shift from being a pharmacist to an investor, what he would have done to scale faster, and tips on doing your due diligence to find the best operator or syndicator. Enjoy the show!
Key Points from This Episode:
- Dr. Wiard’s growing up years in Indiana.
- What led Dr. Wiard to pharmacy?
- How he managed to do his residency in the morning, his MBA at night, and buy his first house.
- Dr. Wiard’s advice to pharmacists who are planning to purchase their first property.
- What was his mindset when he made his first real estate investment?
- How has his mindset on investing evolved through the years?
- What helped him shift from a healthcare professional mindset to an investor mindset?
- Getting around people who are willing to take risks was pivotal for him.
- How to organize your time.
- How to educate yourself about investing.
- How to create your network.
- How to take action.
- Beginning with the end in mind.
- The highest return on investment will require more of your time.
- How Dr. Wiard does his due diligence and finds the best operator or syndicator.
- How he scaled to where he is at today.
- What he would have done differently to scale faster.
Tweetables:
“Networking is the single most important thing because if you’re the average of the five people you hang out with the most, then you probably need to shift whom you hang out with.” [00:17:04]
“If you’re trying to find time, you’re never going to find it. You have to create it. [00:18:13]
“You don’t find deals in this market. Good deals are created in this market.” [00:18:19]
“If you’re at the beginning and you’re trying to figure out how to get going, there are three things you’ve got to do – network, educate yourself, and take action.” [00:18:23]
Links Mentioned:
About Dr. Drew Wiard
Born and raised in Indiana, Drew earned his Pharm.D from Purdue University in '05 and went immediately into Residency and MBA. He has been in Hospital Pharmacy Leadership in various roles until retiring from medicine in June of 2022.
On the side, Drew has been investing in MULTIPLE real estate investment strategies (rentals, commercial, industrial, NNN, Apartment Syndications, etc...) for the past seven years, allowing him to exit his W2 fully. He can now be found across all social media sharing his love of flying paramotors and his investment journey a
The main sponsor of our podcast is Rx Real Estate Investment. They make everything we do possible, and our conversations and interviews would not be available without their support. If you want to diversify your retirement portfolio and get into commercial real estate investing, working with Rx Real Estate Investment may be a great match for you. Check out the website at www.rxrei.com.
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