ABOUT:
Dr. Peter Kim is from Passive Income MD and an anesthesiologist. After getting his dream job at his dream location and then having his hours cut, he began to understand why so many physicians feel frustrated and boxed in. At that point he started seeking out those people who were living the kind of life balance he wanted and asked them what they were doing differently. He says that people who are excited and passionate about things want to talk about them. He found that a lot of them were investing in real estate, so that is the direction he went.
Having an abundance mindset rather than a scarcity mindset is what sets successful people apart. How are you paying it forward? Being a high-functioning successful professional means we are naturally competitive, but in the entrepreneurial circle working together gets you further.
After being hesitant to move forward, he finally decided to write 10 blog posts to begin and found that it gained traction. He now gives that portion for free. He learned that creating it allowed for some additional income and build the kind of life he wanted. After asking his parents what time of their life was happiest, they mentioned when their children were young. He realized he didn’t want to miss out on those moments with his own children.
The current situation has shown that no one’s job is truly safe. Everyone’s businesses can be hurt, so diversifying your income streams can help secure your future.
What are the kinds of real estate deals you work? He tried a bit of everything, and he encourages you to find what you like. He has done group funding, capital building, as well as directly owning single-family and multifamily properties. He started with a crowdfunding group and also feels that diversifying locations for real estate is important as well. His first investment he was very nervous because it felt outside of his realm, but he became more comfortable with time.
THE ENTREPRENEUR BIG 3:
What is your productivity tip?
Use virtual assistants to help leverage your time so you can use your time for more high-value projects.
What tools have helped you be successful?
Asana is a great project management platform that helps keep everyone on task. It can help you feel less scattered and gain more accountability.
What is a favorite business related book?
“Rich Dad, Poor Dad” as well as “Cash Flow Quadrant” are two books that helped him learn how to leverage yourself and create passive income.
LEARNING FROM THE PAST:
What advice would you give your younger self? I would teach him these concepts and understand that goals and mile markers are only one part. Look at your overall goals in your life and start with that in mind as your goal, then everything else will start to fall into line.
If people want to learn more, first check www.passiveincomemd.com as well as the corresponding podcasts.