This is an LFI episode and LFI is now part of PassivePockets.
Cherry Chen is a full time internal medicine physician. She is the founder of The Real Estate Physician a community of physician investors focused on working toward financial independence. In this episode, Cherry talks about the importance of networking when passively investing and how her community helps investors become informed, vet sponsors and find deals.
Cherry started her community to share with other doctors what she learned about syndications and to create a platform to share what she would have liked to have known when she started. Her goal is to create a space where doctors can invest safely and with confidence.
Cherry discusses that her first objective with new community members is to help them get informed through podcasts, books, blogs and introductory calls with her new people in her network. Her second objective is helping her community know who to trust and how to determine if a deal is a good deal worth funding.
Cherry mentions the importance of making sure that the passive investments you make match your philosophy and fit in your portfolio. She discusses that there are no secrets or shortcuts to vetting a sponsor, you need to talk with them and develop a relationship of Know, Like and Trust.
Cherry talks about how to pick a market and that she prefers stabilized value add properties. She mentions that her favorite markets are those with population growth and corporate headquarters moving to the city. She talks about the importance of doing your homework and not jumping into an opportunity without doing proper due diligence.
Podcasts Cherry recommends:Bigger PocketsBest Ever with Joe FairlessThe Real Estate GuysOld Capital Podcast
To connect with Cherry go to www.therealestatephysician.com.
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