Join Forces to Realize Real Estate Goal

Physician's Money DigestFebruary 2006
Volume 13
Issue 2

In order to maximize the benefitsof real estate purchases and sales,physicians need to plan and executea personalized strategy thatwill benefit them and their families,now and in the future. It is mucheasier to achieve personal real estategoals when you request that your realtorwork in conjunction with yourwealth strategist, who can determine ifthese goals fit into your overall financialplan. Your realtor and wealthstrategist will work to your advantageby eliminating pitfalls and creating thepeace of mind that your transactionshave been planned and executed withcareful consideration.

Safeguard Your Wealth

Planning your real estate strategyis just as important as executing it.Because they are already familiarwith your overall financial plan,wealth strategists can offer adviceand make contingency plans basedon dozens of scenarios that you maynot consider. In conjunction withyour realtor, your wealth strategistcan plan for many of these what-ifs.For example, what if you buy a homeas an investment property and valuesin that particular area decrease? Yourrealtor can answer this question byproviding your wealth strategist withstatistics on home values in specificareas and typical rent rates in thatarea, which saves you time and effortresearching the information yourself.Your wealth strategist is also a goodsource of information on the potentialeffect that a purchase or sale will haveon your estate. Because wealth strategistsare experts in long-term planning,they can analyze your purchase's effecton beneficiaries in years to come. Byplanning long term, a wealth strategistcan offer your realtor insight intofinancial limitations for a real estatepurchase in order to leverage it to theadvantage of your estate.

Protecting your real estate is ofutmost importance for physicians dueto the reality of malpractice litigation.Your wealth strategist will provideadvice for protecting any acquiredreal estate, even in the event ofa lawsuit. Planning to protect realestate is important for everyone, anda seasoned realtor will want to speakwith your wealth strategist to ensurethat this vital protection plan is inplace before letting you sign a purchaseagreement.

Take the Next Step

When deciding to purchase a home,consult with your wealth strategist todetermine the most prudent down payment.This determination is based onmaximizing cash flow and creatinglong-term wealth. After you havereceived the recommendation of yourtrusted financial planner, confirm withyour realtor that this figure is soundbefore making an offer.

If real estate you own has appreciated,selling may be a wise decision.However, in order to avoid payingsubstantial taxes on the sale of aproperty, consult your wealth strategistto explore tax-advantaged exitstrategies. You may find that taxescan be deferred, spread out, or eveneliminated, saving you thousands ofdollars. This information will alsoneed to be provided to your realtor soas to ensure that the list price of theproperty is in accordance with yourpersonalized exit plan.

Working with a realtor and a wealthstrategist will assure that you makewell-informed decisions that are supportedby the experience and knowledgeto head in the right direction. Bothexperts can help physician-investorsrealize their goals concurrently.

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 For

more information, visit

Ron Roth

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