Categories
Real Estate

CallumConnects Podcast – Gurpreet Padda

Gurpreet Padda – My biggest hurdle as an entrepreneur.

Welcome to “CallumConnects.” Five-minute entrepreneurial inspiration for your day. Joining us today on “CallumConnects” micro-podcast is Gurpreet Padda. Dr. Padda is a serial entrepreneur who started rehabbing houses and repairing diesel engines while in high school, before entering medical school at the age of 17. His secret power is his ADD and curiosity about how things work.

– A hurdle I’ve faced as an entrepreneur is also my greatest strength. I have horrendous ADD and I have shiny object syndrome, and I’ve had that ever since I can remember. I started a company when I was probably 14 years old while I was in high school. And I loved science but I loved taking things apart and I loved construction as well. So I ended up doing a construction company and then starting a company that fixed diesel engines, and I did this all while I was in high school. But I was so curious about anatomy and physiology that I went to medical school. I got into medical school when I was 17 and then I ended up graduating when I was, it was a six-year program, so I graduated when I was 22 or 23 years old. I’ve got an incredible curiosity about how things work and that often leads to a lot of nonsensical learning or appearingly nonsensical learning. So I end up getting curious about something and doing a deep dive and learning everything that there is to know about it and then I get distracted by my ADD, which says, hey, this is something interesting over here. And what that does is it allows me to learn and deep dive on things that appear non-related and then my ADD interrupts me and I end up jumping to another topic eventually. And often I’m able to reconnect a variety of different topics. So what I ended up learning from this is essentially use that superhero strength of ADD to learn and to move from topic to topic, but then use the overarching entrepreneurial mindset to give it application, to come up with a cohesive theory and a business model of how to get things done. One of the coolest books that I’ve ever read is “Who Not How.” And so I’ve been able to use some of those concepts more and more, which is not necessarily doing a deep dive into every single aspect of every single thing, but finding experts that already know that and engaging them, learning from them. And that way I’m not spending forever learning about a topic that I had no interest in. I ended up starting an entire restaurant company because I was curious about the food production system. I ended up with five restaurants before I knew it. And I was interested in fermentation and ended up starting a brewery. So this can really get out of control. And I’ve found that in order to channel that correctly and do it the right way, I have to be able to bring other people on board who will keep me in check. I have an amazing business partner that helps keep me in check. And I think that the ability to rely on others to kind of self-monitor our own behavior, that you trust these others, is really valuable. The ADD permits rapid reiteration of concepts. And it also allows you to abandon concepts that are less than ideal, but only within the context of getting assistance from other people. I don’t think that if I had other great people around me, I would be as successful.

– If you have enjoyed today’s show or got any value from today or previous episodes of “CallumConnects,” do please subscribe and leave a review. It means the world to our guests to be able to see what they’re sharing has led to your learning.

Categories
Real Estate

The Journey of a Physician and Real Estate Investor with Gurpreet Padda, MD

This week’s episode is the first in a two-part series that features Gurpreet Padda, MD. He is a private practice physician out of St. Louis, Missouri, who runs Reversing Diabetes MD and Padda Institute Center for Interventional Pain Management. Dr. Padda also runs Red Pill Kapital, which is a real estate investment development and management company. He is an advocate for educating private practice physicians on passive wealth strategies through owning real estate.

In this episode, we talk about…

[5:05] Getting into real estate as a teenager

[6:08] The desire to have a life outside of the hospital

[9:05] Characteristics that are more relevant than your education when it comes to owning a business

[10:30] The applicability of medical training to real estate

[11:09] How Dr. Padda decided on his medical specialty

[12:39] How capital flow impacts our health as well as the real estate market

[15:17] The importance of investing in real estate for your practice(s)

[16:31] How to decide where to purchase real estate for practice locations based on patient perspectives

[17:33] The effect of the pandemic on retail real estate

[21:28] Selling restaurants before the pandemic began

[24:14] Educating clinicians on creative passive cash flow and equity growth

[25:22] Why physicians tend to make financial decisions based on narcissism

Links to resources:

Reversing Diabetes MD: https://reversingdiabetes.com

Padda Institute Center for Interventional Pain Management: https://painmd.tv

Red Pill Kapital: https://redpillkapital.com

Categories
Real Estate

Dr. Gurpreet Padda: Creating Wealth with Real Estate for Healthcare Professionals

OVERVIEW:

Jason A. Duprat, Entrepreneur, Healthcare Practitioner and Host of the Healthcare Entrepreneur Academy podcast speaks with Dr. Gurpreet Padda, MD, MBA and entrepreneur. Dr. Padda is an avid real estate investor. He shares the lessons he has learned as an early entrepreneur and also provides tips for healthcare professionals interested in creating wealth through real estate investment.

EPISODE HIGHLIGHTS:

Dr. Padda grew up in India during war and uncertainty. He moved to the US when he was 8 and started his first business at the age of 10 selling cards door-to-door. At 16, he had a team of 30-year-old men working for him. He states – I was an entrepreneur before I went into medicine. Dr. Padda made it through medical school by hustling, which he did through real estate auctions. During his first year of residency, Dr. Padda rehabbed an eight-unit building in Chicago. After his residency, he went into pediatric anesthesiology for heart, liver and lung transplants. His medical path also included addiction and interventional pain management. Dr. Padda’s practice has 7 locations and he provides $1.5 million in free care. “Option” is when you purchase a sale contract with an option to buy. You have three months to decide if you want to buy and the price is held at the same level. If you decide not to buy, you’re usually only out $100. Dr. Padda uses option contracts, where he’s looking at zoning and municipal plans. He researches what’s being planned for development in the area. Option contracts are low risk and offer a high reward. There are two types of wholesaling. “Ugly” includes houses below $80k requiring a lot of work. “Pretty” is when someone wants to sell and is having a hard time finding a buyer. This option provides great margins and it’s the one Dr. Padda recommends physicians to use. Dr. Padda also recommends going big with real estate vs buying single units. Cap rate is the net operating income divided by the price. Become a passive investor with somebody first, watch and learn from their mistakes, and then become an active investor. To get started in real estate investing, talk with people you know. Work referrals through friends and contacts. Don’t blindly trust people on the internet.

3 KEY POINTS:

The most valuable resource on earth is not money but time. You have to look at both active and passive methods of gaining wealth. Passive income is what people pay you while you’re sleeping. The biggest impediments to becoming wealthy are ourselves and our taxes. The number one impediment is our personal wealth operating system and how we think about money.

TWEETABLE QUOTES:

“Time is like a water hose and you’re watering a particular concept or project. The more water and fertilizer you apply to it, the better it grows.” – Dr. Gurpreet Padda

“I think entrepreneurship is the ability to ask questions of yourself, realizing you don’t know, and then trying to figure out the answer.” – Dr. Gurpreet Padda

“Leverage what you know.” – Dr. Gurpreet Padda

RESOURCES:

Red Pill Kapital: https://redpillkapital.com/

Dr. Gurpreet Padda’s LinkedIn: https://www.linkedin.com/in/gurpreet-padda

Michael Blank podcast: https://themichaelblank.com/podcasts/

Adam Adams podcast: https://podcasts.apple.com/us/podcast/creative-real-estate-podcast/id1285094279

Categories
Pain Doctor Podcast

The AviationZorro Podcast – Financial Well-being and Awareness with Dr. Gurpreet Padda

Aviation United by AviationZorro chatted with Doctor and Red PIll Kapital (Commerical Real Estate Investment, development, and management company, with a focus on creating asymmetric returns for its investors) Founder Dr. Gurpreet Padda. The podcast explains Dr. Gurpreet’s background, What is Financial Well-being/Awareness, Financial difficulty and the impact on Mental-Health and Well-being, Why we love to spend money, the cost of training to become an Aviation Professional compared to the return in that investment, is it advisable to have a financial advisor, how to manage money, An overview of Red Pill Kapital.com. Dr. Gurpreet has offered a Complimentary course worth $975 Dollars to listeners of this podcast. All you have to do is, listen to the podcast, reach out to Dr. Padda and let his team know you listened to the AviationZorro Podcast with Dr. Gurpreet Padda. https://redpillkapital.com/ info@redpillk.comDisclaimer: This podcast and website represent the opinions of AviationZorro and our guests to the show and website.

The content here should not be taken as medical advice and is for informational purposes only, and because each person is so unique, please consult your healthcare professional for any medical questions or Aviation/Aerospace Employer, Regulator, an organization for questions related to you. Views and opinions expressed in the podcast and website are our own and do not represent that of our places of work. While we make every effort to ensure that the information we are sharing is accurate, we welcome any comments, suggestions, or corrections of errors. Privacy is of the utmost importance to us. This website or podcast should not be used in any legal capacity. No guarantee is given regarding the accuracy of any statements or opinions made on the podcast or website. In no way does listening, reading, emailing, or interacting on social media with our content establish a coaching session, employment interview, wellbeing advice, employment advice, the doctor-patient relationship. AviationZorro is an Ltd company based in Dublin, Ireland. If you find any errors in any of the content of his podcasts or blogs, please send a message to contactus@aviationzorro.com. This podcast is owned by “AviationZorro LTD” If at any time you want to play or stop the podcast, it is at your own discretion. The podcast may contain conversation or opinions you may find unsuitable or against your opinions or beliefs, if you feel you may be uncomfortable, stressed, anxious, worried, concerned, upset, insulted by any of the podcasts, we recommend you do not listen to the podcast.