Tap into Your Realtor's Network of Advisors

Physician's Money DigestJanuary 2006
Volume 13
Issue 1

Therefore, it is crucial thatwhen you decide to makeany investment, the investmentis planned, executed,and protected fromthe very beginning. Real estate investmentsought to be part of your long-termfinancial plan. The first step inbeginning to invest wisely in real estateinvolves finding a realtor who is familiarwith your distinct needs.

The right realtor for physicians willunderstand your need to thoroughlyplan your investment and protect thatinvestment. That is, your realtor oughtto be considered as one spoke in thewheel of advisors who assist you fromthe very beginning, so as to protectboth your privacy and your assets inthe coming years.

This means that physicians need arealtor who works in conjunctionwith other experts to ensure that realestate investments are part of a comprehensivelong-term investment, planning,and asset and privacy protectionprocess. A realtor who is eagerto assist with the planning of theinvestment rather than a realtor justlooking to earn a quick commissionwill become invaluable to you. Theywill also have a team of expert advisorsin place to offer you the highlyspecialized services that you need.

To prepare for any real estate investment,such as the purchase of a secondhome, an office expansion, a newhouse, or the purchase of an investmentproperty, physicians should invoke theadvice of a comprehensive team ofadvisors, including the following:

•Wealth strategist. One of themost important reasons to work with awealth strategist and realtor concurrentlyis to address questions that willhave a significant impact on protectingyour assets. Is the purchase propertyinside or outside of the transfer tax system?How will you avoid titling inefficiencieswith the new purchase? Howdoes the investment fit into your strategyfor multigenerational planning? Bycollaborating with both your realtorand a wealth strategist, you will beable to clearly identify appropriatesolutions to these issues, and select theright real estate for your needs.

•Tax and estate attorney. Planningfor death is not a particularlypleasant experience. However, it isabsolutely necessary for physicians toensure that all investments and assetsacquired over the years are allocatedaccording to your wishes. In manystates, if you do not have an estate planprepared, the state will prepare one foryou, but at a cost of tens of thousandsof dollars. An experienced realtor willknow this, and will recommend thatnew estate plans are prepared witheach new real estate investment.

•Mortgage specialist. Your realtorshould always be involved in themortgage process, as the two industriesare intimately connected. A seasonedmortgage specialist will helpphysicians leverage their mortgagecorrectly, which can be an incredibletool for long-term financial success.Equity can be used to finance investmentproperties, second homes, oreven commercial office space. A mortgagespecialist should also provide adebt reduction strategy in unison withyour wealth strategist.

•Commercial real estate expert.A commercial real estate expert shouldbe utilized for the expansion of yourmedical practice. Some realtors dabblein both residential and commercial realestate. However, when physiciansbegin to think about expanding theirpractices, they should work with a realestate executive who is familiar withthis type of property. Commercial realestate experts can also provide insideknowledge into upcoming developmentopportunities.

Ron Roth is the founder of Los Angeles-based Premier Realty, a boutique agency

specializing in serving clients in high-profile

medical positions. He has assisted physicians with their real estate needs for over 15

years. He welcomes questions or comments at 818-509-1111, 818-509-1114 (fax), or ron@ronrothhomes.com. For

more information, visit www.ronrothhomes.com.

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