doctor Real Estate

Making a move From Medicine to Real Estate Entrepreneurship

Practicing medicine is a noble profession, but a grueling career as you will spend years training and serving patients. You will barely have time for yourself as the practice dictates you have no definitive working hours.

Consequently, incidences of burnout are rampant in the industry, partly explaining why up to 47% of healthcare workers in the United States intend to quit their jobs by 2025. Presumably, to try their hand at less stressful ways of making money.

As a medical professional intending to venture into entrepreneurship, the real estate industry looks like a great prospect. The global professionally managed real estate market was worth $11.4 trillion in 2021. Keep reading to learn how to move from medicine to real estate. 

Why Medical Professionals Might Want to Shift to Entrepreneurship

Some of the reasons a nurse or a doctor might want to get into entrepreneurship are:

  1. Shift career: Exposure to diseases and viruses for long hours daily is not everyone’s cup of tea.
  2. Better work-life balance: Working in healthcare for most practitioners means giving up your social life, which isn’t ideal if you want to start a family.
  3. Filling a gap: There might be a medical issue you feel you can only solve by being an entrepreneur.
  4. Explore new challenges: Even if you have a rewarding career, it might have become too monotonous, so you want to try something new.

Reasons Why Caregivers Could Become Successful Real Estate Entrepreneurs

Here are some of the reasons medical professionals can become successful real estate entrepreneurs:

  • Desire to make a difference: Medics know all about changing people’s lives for the better, which isn’t far removed from the goals of most entrepreneurs.
  • Strong interpersonal skills: In the business world, having the skills to connect with people from various walks of life, develop relationships, and communicate effectively with them will put you ahead. As a medic, you already have these skills as you interact with patients and their families daily.
  • Pattern recognition: Medical schools teach medics to think critically. They can stand back and examine a situation by focusing on the essential aspects and patterns. This critical thinking ability will stand you in good stead to develop creative solutions to issues in the real estate industry.
  • Commitment to continuous learning and growth professionally: Doctors and nurses constantly look for ways to improve their skills and stay abreast of the latest medical advances. It would be best if you retained this curiosity and drive, as it will help you learn and grow your real estate business.

How to Move from Medicine and Venture in Real Estate

Real estate is still one of many millionaires’ most preferred investment options. The best way to go about it includes the following:

1. Know your market and pick a niche

The first step towards becoming a successful real estate entrepreneur is knowing what market you want to serve. How will you know you’ve arrived at your destination if you don’t know where you want to go?

The real estate industry is vast, so it helps narrow your scope and focus all your attention on that single niche. These are some of the real estate niches you could try out:

  • Residential real estate
  • Property management
  • Commercial real estate
  • Resort and vacation homes

2. Market research

It helps to know who you are selling to and what they need to provide the right services for your target audience. That entails extensive market research on demographics and current trends.

The research should provide some pointers on how you can position your business in the chosen niche. Try to find some real-world experience and self-assess your skills to work out if you have the skills needed to fill the gap in the market.

3. Create a plan

Once you know your target market and have researched their wants and needs, you should create a business plan to meet those needs. A business plan will formulate a roadmap of how you will start and run the business. An ideal business plan should contain a detailed outline of the industry overview, research and analysis, marketing strategy, management, and finances.

4. Start with what you have

One look at a real estate website may put you off real estate entrepreneurship if you don’t have vast sums of cash. That doesn’t mean you can’t start small. There are plenty of investment opportunities, even for those without deep pockets, such as REITs.

5. Network

Networking is another great way to gain experience and learn about the industry. Attend events, conferences, and seminars related to your field. Ask people for advice and feedback. Don’t be afraid to ask someone for a reference or recommendation.

You can also join a network marketing company. It is one of the best ways to become successful in real estate entrepreneurship if you come from another profession. Network marketing companies offer their members a low entry cost, high earning potential, and a strong sense of community.

6. Be patient

Successful entrepreneurs understand that patience is a virtue. You won’t become a millionaire overnight, so don’t expect to make money immediately. Take baby steps and keep at it diligently.

7. Stay organized

Keeping organized is vital. Keep track of everything you do, especially expenses and income. Use spreadsheets, calendars, and notes to organize your thoughts and ideas and manage the day-to-day running of the business.

7. Build Relationships

Relationships are the foundation of any successful business. You can develop trust and loyalty by establishing relationships with customers, vendors, and employees. A strong relationship network allows you to widen your market reach, potentially increasing your bottom line.

8. Set Goals

Finally, you need to set realistic goals for your business. Setting goals gives you something to strive for and motivates you to keep going even when times get rough.

Final Words

As a medical professional, you already possess qualities that can make you succeed in real estate, such as strong interpersonal skills and a willingness to help people. If you feel like making the jump to real estate, some things you could do to improve your chances of success include creating a business plan, conducting thorough market research, and networking with other real estate industry stakeholders.

By Gurpreet Singh Padda, MD, MB

Real Estate

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


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.


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.


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.


“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


Red Pill Kapital:

Dr. Gurpreet Padda’s LinkedIn:

Michael Blank podcast:

Adam Adams podcast: