"Multiple income streams" is often stated as way to get ahead financially.
In this episode, we explore some side hustles that doctors can do, including:
• locuming (especially rural locations)
• consulting
• medicolegal work
• writing (for medical journals, developing guidelines for primary health network)
• cosmetics

Additional note- as of 2024, anecdotally the locum market has changed in Australia, with downward pressure on rates. This could be variety of reasons- from more doctors coming from overseas, and also state governments tightening spending.

Music Credit: Bass Nation.
Send in your questions to: passiveincomedoctors[AT]gmail.com

We are back for part 2 interview with Perth buyers agent David Hall.
•dark side of rental growth
• horror story about self-managing a property
• more strategies (e.g. combining duplex lots)
• tips for negotiating with a seller
• how a junior doctor bought their first property for 740k, with development potential.

Resources/links:
Why is Australia Suffering From a Rental Shortage? 2023 (buyersagencyco.com.au)
Contact David at: Contact Buyers Agency Co Perth | Property Buying Specialists

Music Credit: Bass Nation.
Send in your questions to: passiveincomedoctors[AT]gmail.com

How much does mining, oil and gas influence Perth's property market?
What is driving the current boom?

In this interview with Perth buyers agent David Hall, we discuss overview of Perth market, his personal investing philosophy and much more.
•difference between current market 2024 and last boom 2004-2007)
•what is a balanced market for Perth
•retain and build strategy
•HMO strategy
•WA economy, and trends for energy- green hydrogen etc
•prediction: 20% growth for rest of 2024!

Resources/links:
Perth house prices to boom then bust - MacroBusiness
HMO Investing & Management Services | Buyers Agency Co.
What is green steel and how can it help us reach net zero? | World Economic Forum (weforum.org)

Music Credit: Bass Nation.
Send in your questions to: passiveincomedoctors[AT]gmail.com

Property investing involves assets worth hundreds of thousands to millions of dollars- so choosing someone to manage this asset is so important.
We have all heard stories about difficult tenants, and property managers missing things and even not contactable! Property managers have a difficult task, and also have high turnover.
I have learnt over the years questions to ask. In this episode, I share 5 tips when selecting a PM.

Other resources:
What landlords should look for when choosing a property manager (domain.com.au)

Music Credit: Bass Nation.
Send in your questions to: passiveincomedoctors[AT]gmail.com

In this episode, I give an update on Passive Income Doctor, and how portofolio is faring- interest rates in last 2 years gone from 2% to 6.5%. Headline inflation has been 7%p.a but when I see property prices, grocery prices, it seems more like 10-20%.

I also talk about finance challenges- obstacles in obtaining lending. I discuss the current 3% interest rate servicing buffer, DTI limits.
I finish with some practical tips how to get through difficult financial times, and finish with mindset minute of the week: "Wealth is the transfer of money from the impatient to the patient. "

Articles of interest:
Overview | Statement on Monetary Policy – May 2023 | RBA
Why Is the Consumer Price Index Controversial? (investopedia.com)
APRA holds 3% serviceability buffer - Mortgage Business

Music Credit: Bass Nation.
Send in your questions to: passiveincomedoctors[AT]gmail.com

In this episode we chat with Dr Urzula Carr, histopathologist, and life coach.
We discuss journey from Poland to UK, working in the NHS, and then life in Australia.
We talk about some property wins including granny flat/studio, feasibility studies for property development.
Finally we discuss her journey, how life coaching and self development helped her through some dark times, and how she intends to help doctors with burnout.

Find out more about Urszula at: Home - MedicRevive

Music Credit: Bass Nation.
Send in your questions to: passiveincomedoctors[AT]gmail.com

Why the trend is from bulkbilling to mixed/private billing?
The Medicare rebate freeze, and effects on general practice sustainability.
The rising costs of running a small business.
Steps doctors and practices can implement to transition to private billing:
1. meeting to discuss
2.advertise in advance- notice to patients
3. train reception staff, implement processes.

Info for patients/community members- why is there a gap:
Fees Gap Poster.pdf (ama.com.au)

Music Credit: Bass Nation.
Send in your questions to: passiveincomedoctors[AT]gmail.com

We have back on the show Richard Bharata, property investor and buyers agent. We catchup on what's happened in the last 12 months, some recent cracker deals. Also he shares some common investor mistakes, and also some tips for interstate investing. Finally we discuss Perth property market, and also predictions for what areas and price points will do well.

Check out Richard at: iProperty Finder – Australia Wide Buyers Agent

Music Credit: Bass Nation.
Send in your questions to: passiveincomedoctors[AT]gmail.com