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Pranay Parikh - From Doctor To Real Estate over $1B

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For many, becoming a doctor is one of the highest career paths people aspire to. For Pranay Parikh, after becoming a doctor, he found that he didn't have the financial security or control over this time that he would have liked. So he decided to get into real estate investing to build a stream of income so that he could practice medicine on his own terms. As Co-Founder and President of Ascent Equity Group, Pranay has built a portfolio of almost 6,500 units and $1.2 Billion of assets. As host of the "From MD to Entrepreneur" podcast, he aspires to help physicians become passive investors in real estate and reach financial independence to do more of what they love. Hear Pranay share how he's built his business and helped so many others along the way.

 

In this episode, hosted by Mike Swenson, we discussed:

  • The importance of having solid expertise on your team to do deals.
  • If you continue to do the right thing, your investors will trust you.
  • Partner with people instead of doing it yourself.
  • Two groups for syndication:
    • General Partner
    • Limited Partner
  • When you own real estate, you are taking on liability, do it's important to do due diligence.
  • As an investor, one of the most important things is to pick the right sponsor.
  • Investing is a team sport because it is not done individually.
  • Don't invest in the first group you’ve meet, do your diligence to find the right team that will help you hit your goals.
  • When picking your market, focus on those places with a lot of job and population growth.

 

Timestamps

0:00 - Intro to Pranay’s Career
1:41 - Background
3:04 - Medical Journey
6:37 - Building and Growing Investments
11:17 - The work to become an Overnight Success
15:42 - Commercial Real Estate Syndication
18:36 - Finding Sponsors
22:17 - Success Stories
25:14 - Types of Deals
26:49 - Building Business with Physicians
30:37 - Future
31:46 - How to find Pranay

 

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Email: [email protected] 
Facebook: https://www.facebook.com/pranay.parikh2 
Linkedin: https://www.linkedin.com/in/pranay-pa...

 

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Full transcript here:

Mike Swenson 

Welcome to The REL freedom podcast where we inspire you to pursue your passion to gain time and financial freedom through opportunities in real estate. I'm your host, Mike Swenson. Let's get some real freedom together.

 

Mike Swenson 

Hello, everybody, welcome to another episode of The REL freedom podcast where we talk about building time and financial freedom through different opportunities in real estate. And, you know, one of the things that people think is folks in the medical field, make a lot of money, they maybe don't need to have a side hustle or a side gig. And that's absolutely not true. There's a way to leverage the wealth that you're building to create more wealth. And so today, we've got Pranay Pareek here, and he is a physician, co founder and president of ascent equity group, serial entrepreneur, online course creator and host of the MD to entrepreneur podcast. And so his unconventional journey to medicine helped him learn the skills to excel in entrepreneurship.

 

Mike Swenson 

Now he's launched a seven figure online course and has bought over $1.1 billion in real estate and helps hundreds of physicians launch their own business. And his goal is to help 10,000 physician led businesses where you invest is typically value add multifamily, Texas, Florida, Oklahoma, Arizona, other states, we'll talk about that and you're looking at larger buildings, typically 30 million to 100 million, kind of 200 to 400 units. So with that being said, Pranay said, Thank you so much for coming to the show. We appreciate having you on.

 

Pranay Parikh 

Thank you for the opportunity, really excited to talk to you.

 

Mike Swenson 

Why don't you share a little bit about your background? Obviously, the the medical piece plays a large part into the niche that you're focusing on, walk us through kind of how you got to where you're at?

 

Pranay Parikh 

Yeah, so I did the med school thing, you know, I still practice which is people surprise it a lot of people. But after I paid off my loans, I tried to figure out what to do with my money, you know, and I wanted something that I had control over, but also wanted money in my pocket. The most important thing to me was cash flow, because cash flow is king, as they say, but it's how you change your life. Right? With cash flow, you pay your mortgage with cash flow, you pay for your vacations. And that's kind of different than the stocks where, you know, yeah, Tesla is going up like crazy. But you're not seeing the benefit of that until you sell.

 

Pranay Parikh 

You know, you can argue there's dividend stocks, but that increases your tax burden, which, you know, especially living in California, I'm taxed a lot. So I wanted cash flow that was tax deferred, you know, tax beneficial. And really, the only way I could do that was through real estate. So, you know, I started with my own properties and just realized I couldn't scale up that way. So that's how I found syndications and passive real estate.

 

Mike Swenson 

Give us a real quick background about about kind of your medical journey. Yeah,

 

Pranay Parikh 

yeah. So I went to was pre med, I was really wanting to be a doctor. Since I was young, I probably around five as old as I can remember. And went into pre med went to school med school, actually in the Caribbean, which is definitely a unique opportunity. And then I went to got residency, I did residency at University of Southern California. So USC, I did residency, and I graduated and started working right away. And that's kind of when I saw the opportunity to do real estate kind of after I graduated. So kind of pretty typical medical career, through residency, through medical school and residency

 

Mike Swenson 

for those folks that aren't in the medical field. What's kind of the vibe from your co workers in terms of how many of them are looking for other ways to actively invest their money? Is it something that gets talked about a lot or not? Or you're just trying to drum up more interest as you go, but how does that work? You know, they've they're making a lot of money and do they talk about what they're doing with it?

 

Pranay Parikh 

You know, fortunately, it's been a lot more in vogue to talk about money, you know, in medicine, very traditional, and people haven't talked about money but I think really to our detriment, I don't think there's an they don't teach you this in medical school, you know, because there's so much else to learn but when you take someone that's you know, a baby financially or financially education wise and you give them you know, a six figure paycheck, almost always we have a target on our back. So all these whole life insurance, all these other companies that may or may not be a good fit for us will come and you know, we're very trusting, have a lot of faith in people and a lot of people get taken advantage of. And so I didn't want to be one of those people, but I just didn't know anything.

 

Pranay Parikh 

So, you know, it took a lot of reading, there's a lot of great resources by doctors, including ours, to just educate people. And that's kind of our focus, at least initially, before we started to accompany, but after we educated everyone, they're like, Okay, now we want to invest in you guys. And we want you guys, because we trust you after reading all this stuff after going to your conference after taking your course. And that's kind of why we started to send equity group.

 

Mike Swenson 

And that makes a lot of sense of the trust piece, I actually recently just came off of a webinar, we're talking about working with investors and, and raising money, and they said, you know, it all comes down to trust. And you being in the medical field, working with people in the medical field, there's that natural bond there, where they feel like, okay, you're not just going to take my money and run, and it's going to be the latest, you know, Ponzi scheme that you find in the news. And so you have that common, that common experience with them.

 

Mike Swenson 

And so it's that natural beginning, first step of this is somebody that I can trust, and I know they're not going to run away with my money, they're going to do a good job with it. You know, I heard there's kind of kind of three aspects that investors look for it's, are you going to run away with my money? Am I going to lose money? Or kind of be even? Or am I actually going to make money. And so you know, you're, you're moving them to that direction of Yes, I trust this person with my money enough to where I know that I'm gonna make money working with you. So kind of talk about your experience as you guys got started, and you were building and growing to the investments that you have today?

 

Pranay Parikh 

Yeah, in the starting, we started small. So the model is called a fund of funds. Basically, there's a large deal, I think it was 200 million at the time, we were very small piece of it, it was 3 million, it got our foot in the door, we were able to give access to our people, because at the time, it was 1 million minimum. And we were able to get everyone in for I think 25,000 each. So that was our first foray into it, then we created a fun, it was actually a big jump from 3 million to 10 million. And we were able to be small pieces of five different properties. So kind of into diversification. And that fund is like up like 30%, it's doing very well. After that, we decided that we wanted a seat at the table, we wanted to be able to really partner together with the operators that we work with. So we don't do our own real estate. We, because we're in a fortunate place of being able to bring all this money, we're able to partner with really people that are the best of the best in the in this in real estate, large apartment complexes.

 

Pranay Parikh 

So not only do we bring the money, but we bring a lot of expertise, we have a large team. For example, we have an asset manager, it's someone that looks at all the financials, talk to your property manager every month, sorry, every week, and we walk the property every quarter minimum, sometimes we walk every two weeks. So we're able to bring all this value. And not only do we are we able to kind of cherry pick between operators, were able to pick the best of their deals. And let me give you one quick example. This last deal that we got Oklahoma City, as I mentioned earlier, but reason that this deal, and it just closed a couple of weeks ago, the reason that it sparked our interest is because the debt, the loan on it was 2.9%, fixed nine years. And that's insane already, because interest rates are in the sixes now, but also interest only for four years. So that loan is just would have been great at any time. But now it's amazing. So we're able to be like, Yeah, you know, out of all your deals, we want this one, and you're happy to work with us because we bring a lot of value, and then that value gets transferred to our investors.

 

Mike Swenson 

And those types of deals are the deals that I you know, being in real estate, people are looking for in this day and age because like you mentioned right now we've got interest rates that are high. I mean, I've had clients be quoted as high as like seven and a half percent on investment loans. And so the price is one thing that the interest rate is now so much more prominent. And if you can find assumable deals or deals where you can keep that interest rate, and it's a great rate that makes the deal a lot more attractive regardless of price. Because that interest, you know the difference between 2.9 and seven and a half percent that makes a big difference.

 

Pranay Parikh 

Yeah, and you bring up a great point, it was a loan assumption. So basically, how did we get this loan right now it's, we got it because the loan was created four years ago and we're assuming their loan, but not everyone can qualify. It's a loan from the government and the government is super strict with the Wow loans. This is actually our second loan assumption of the year. So we have great deal flow, and we're able to bring all this stuff. So, you know, this fixed interest rate when everyone else is getting variable rates? You're right, it's, you know, it's hard to kind of think that abstractly, so let me tell you about my house, I bought a house last year, fortunately, my interest rate was 2.3, sevens Crazy, right? Great loan.

 

Pranay Parikh 

And I looked at it again, and this is at five and a half percent. So for the same house, nothing's changed, my mortgage payment would be an extra $3,000 per month, that's at 5.5. It's higher than that now. So it's almost one and a half times more. And what do you get? What do you get out of that? You get nothing. That's just money to the bank. Right? So it material is materially changes your deal if your interest rate changes.

 

Mike Swenson 

So for somebody coming into the real estate space, just like your investors have to, you know, eventually know, like, and trust you? How did you figure out walking into this industry? Brand new, who the people were that you wanted to work with the relationships that you you needed to form? How did that process start for you?

 

Pranay Parikh 

Yeah, you know, we're an overnight success, 10 years in the making. So, you know, we are companies two years old, fairly young. But we've been in syndications and passive real estate for over 10 years. And a lot of that is just talking to people. And I find that that's something a lot of times we're lacking, you know, talking to people, but talking to them in person, talking to other people in the team, sometimes he talked to the CEO. And you're like, This sounds great. And you talk to the you know, the associate, and you find out all the issues, but really doing your due diligence, I think in the beginning, a lot of times, we would get super excited to work with someone we like. And we would, we would a lot of times trying to triangulate, and this is how, because a lot of times when you're starting, you don't know what you don't know, right?

 

Pranay Parikh 

So we worked with people, and a lot of times we didn't get great deals for ourselves. So a lot of times, we didn't make much money, because we passed all of them, our benefits to our investors. But if you do the right thing for long enough, your investors will really trust you. But so how, how is your reputation? How is their track record, right. So if you work with some of these bigger companies, like we did on our first deal, they're really not going to give you much, and everything that they give you in terms of returns, you're going to have to pass to your investors, but it's a learning experience, we learned a ton from our first deal. And from our second deal on by our third deal, we were really hitting the ground running. So if you try to maximize a squeeze out every profit, you can in the beginning, it's going to be difficult, no one's going to want to work with you, you got to kind of learn the ropes a little bit.

 

Pranay Parikh 

So you know, that's why we actually partner with people, instead of doing ourselves, you know, between the three principals, we own a ton of active real estate ourselves, we've done this, and we can do this. But it just makes more sense to work with someone that said 30 plus years of all real estate instead of us who are all three doctors and do real estate as well.

 

Mike Swenson 

It's interesting, because it really is the mindset of one plus one equals three, or you know, something like that, because you add value to the relationship. And you know, some of your investors, they could go do it themselves, they're leaning on you and the expertise, you have to be able to structure a good deal and put that together, you're leaning on the people that you're working with to put together a good deal. And overall, that's going to make a better product for everybody because they're going to make more money, they're going to be happier, you're going to do a better job, you're gonna have more clients to create bigger deals. And obviously, you're vetting out great people to work with as well. So it really works well, to have more people working together versus Joe doctor, that's that's trying to get into real estate, it's like, Oh, I'm gonna go buy a flip and do it myself and try to find contractors or maybe they try to pick their own syndication or pick their own large multifamily property themselves. It really is a good value of a mix of money and time and expertise.

 

Pranay Parikh 

And I'm sure you know this more than anyone, but if you want to do real estate, right, it's a second job. You have to build out a team, Team, property managers, accountants, you have to create an LLC, you have to do marketing, you have to do all of this stuff. And that's just for one unit and each unit. Each unit is its own business. And if you want to do it, if you want to start replacing part of your income, I'm not even saying all of it part of it. You gotta own 10 2050 units, maybe 100 If you're, you know, making 100 or 200 per month per property, and you want to have significant cash flow, you're gonna have to own a lot. So the a lot of doctors, including myself, they started to begin to like, Yeah, real estate's Great. How hard can it be? And it's, you know, honestly, it's not that difficult, you can figure it out, especially if your doctor dentist, any, anyone could really there's like 18 year olds that are killing it in real estate.

 

Pranay Parikh 

But the question is, do you want to spend the time effort and sweat equity to get that happen? Or are you willing to give up a little bit of your returns? You know, we tell people, you get 90% of the benefit for about 5% of the work, but it's probably more like 99 to one, but I don't want to toot my horn a little bit too much.

 

Mike Swenson 

So talk a little bit then about investing in commercial real estate syndication? How does that work? If I'm new to the game? I don't know what it is. First of all, maybe we just quick for those folks that may not know what is a syndication? Explain that. And then talk about how folks can get involved.

 

Pranay Parikh 

Yeah, so there's two groups for syndication. There's the general partner, the ones that are kind of structuring the deal, and buying it renovating and doing all that stuff, and the limited partner, but one good way to think about it is like a stock like a company stock, right? So apples, they're doing their Apple thing, making iPads selling expensive iPhones, and you invest in their stock, right, so they get some of that money, and they use that money to expand. So you don't really have a say in the day to day, right, they just take your money and they give you part of the profits. And that's that's kind of how syndications work, just consider it like a company that you get to invest in the nice thing, just like Apple investing Apple, you have zero liability, right? Because Apple shoulders all that and it's nice.

 

Pranay Parikh 

So when you own your own real estate, you were taking some of that liability. Of course, there's ways to minimize that LLCs, all this stuff, but you are taking some of that liability. On the syndication side, it's nice, because all that liability is shouldered by us. So the general partner, so you wouldn't. So as a investor, your most important thing is to pick the right sponsor, by far the most important thing, find the right sponsor, once you find a couple of those couple of them you can trust, then you can ask them to, then you can start looking at their deals, because you've already done most of the legwork, I'd say 70 80% of the legwork by finding the right team, right? And that's just the sponsor, they'll find everything else, you just find the group, they'll find the property manager, the accountant, the lawyer, all that stuff, you just find the group. And then you look at the deal and make sure that the deal itself, the way it's structured makes sense.

 

Pranay Parikh 

So for example, sometimes people will have really high fees and fees get charged before any of your returns. So you know, that isn't very investor friendly. So I find and a lot of people will focus on the deal itself, they'll look at the market and all that stuff. But if I have a good sponsor, and the deal structure looks as most of it makes sense, most of these deals are in Florida, the markets are great population growth, like they're pretty good at that it'd be kind of hard to pick a wrong one, right? Because they're really real estate experts. But the first two are what I really focus on the team, the sponsor, or operator in our sense, and then make sure that the way the deal is structured isn't super focused on their side, right? Because remember, as a investor, you're taking a good amount of risk because you don't have control. So you should get compensated for that risk. Yeah.

 

Mike Swenson 

And how do people find sponsors? You know, I can't can just go, I can't just go to the Yellow Pages make Okay, I'm gonna call a few of these. So how does that work?

 

Pranay Parikh 

Yeah, this is funny. For people that take our course. They're like, I've never seen a sponsor, I promise you, with a little bit of effort, you're gonna find so many sponsors, because we're out there looking for you. Absolutely. All we're looking for you, we want to talk to you. You don't know anyone. Now you guys know me. So feel free to reach out to me. And we'll have my contact info in the show notes. But it's just ask around, right? Find out, find out. So I'm known as the real estate guy. Every hospital I work at, you know, talk to others. There's no doubt a ton of doctors or dentists or wherever you are, that are investing in real estate and ask them how, how did they do?

 

Pranay Parikh 

How are they distributed on time? Are they sending the returns? Are they doing well in communications? Would they invest with them again? So it's pretty easy. So a lot of times it's trying to find other people and that's the other being you know, you're listening to a podcast like this and find other listeners, right? Build a community. And we I like to tell people that investing is a team sport, but a lot of people try to do it individually, but it's best done as a team.

 

Mike Swenson 

Yeah. And I think that's the thing. Yeah, I mean, There's there's local real estate investor meetups, there's Facebook groups that you can join. I think that's a great way to kind of lean in, start conversations with more people, because maybe maybe you're really interested in and yeah, you've listened to some podcasts, but you don't know anybody in your friend group or in your connections. And so I think, yeah, local meetups, Facebook groups, that sort of thing is a great way to get started. And then don't be afraid to ask, what are you doing? Who do you know? How can we work together? Because that's another thing that I love about the real estate space is people want to help each other, whether it's connecting them, if I don't know the answer, I want to connect you to somebody that does know the answer.

 

Mike Swenson 

And if I can't help you, personally, with an investment, maybe there's a better option out there. And so people do want to help each other. You just have to kind of reach out and ask, and if you're somebody that's maybe a little bit more shy, and introverted, you got to lean in, ask some questions, go meet some people, it's out there. And on the investor side, I can tell you ask any person looking to raise money in real estate, if they could use more money? The answer is going to be yes. So they're out there, we just got to go partner up and find each other.

 

Pranay Parikh 

Yeah, and just just one small point. Remember, don't invest in the first group you meet, or at least right away, right, make sure you do your due diligence. Sometimes it's easy to get excited, even with us. You know, I tell a lot of doctors will come to us, they're like, We trust you, because you're a doctor. This other stuff, I was like, you know, do still do due diligence, just because you've known me and you've read my blog posts, listen to my podcast for years, but still like these get on the phone, talk to me find out my track record. And all that hold us to the same standard actually hold us to a higher standard, as what I tell a lot to doctors were your, your shields are probably down a little bit, because I am a doctor. But if anything, you should hold us to a higher standard. And we want to be held to that higher standard,

 

Mike Swenson 

and talk through some of the success stories that you've seen with with some of the doctors that you've worked with where from a financial freedom standpoint, where, you know, now I used to just have my job. And now I have you know, this this amount of money coming in this type of cash flow, like you had mentioned at the beginning, the cash flow piece is what's really important here, you're investing your earnings to create cash flow, but shared some success stories are some good examples of how that's paid off for folks in the past.

 

Pranay Parikh 

Yeah, and a caveat, you're not going to make six figures right away, right off the bat, you know, it's an investment, and it's an investment over time. So usually, the the type of way that these deals are structured, there's something called a preferred return, which means every dollar that comes Return twice, actually goes to you first, depending on that percentage. So say we give 10%. So if you put in 100,000, that means we owe you 10,000 or 10% per year, until the deal closes. So you know, that's pretty significant. But that is not cash flow. Because if it was cash flow, why would you wonder why is this property cash flowing right away? Like, are you guys even doing anything? It usually cash flow is like 456 percent, and the preferred return a cruise, that means I owe you two next year.

 

Pranay Parikh 

So if I give you 5%, in year one, I owe you 15%, in year two, and so on. So I think a pretty safe estimation is you can say about a 5% return every year. So if you put in 100% 100,000, you get 5% 5000. Right? So not life changing money, but you know, you can, you can change, maybe pick up a couple of shifts, but when it gets really powerful is when the property sells usually. So say in three to five years, it'll be 1.8x 1.8 to 2x your money, right? So 100 turns into 200. And say you're investing 50 to 100, every year, starting year three to five, now you're doubling your money, you could put in more money, you know, you're paying very minimal in taxes. So you know, you don't get the benefit of it right away.

 

Pranay Parikh 

But in a couple years, it starts looking very juicy, you know, and you're able to, you know, an extra $80,000 a year, that's pretty, you can pretty much significantly change anyone's life. And you can decide, you know, what I do is I take a little bit out, enjoy my life and put the rest in. So then, you know, if you're going from 50 to 100 invested in a year, maybe once you get some money back, maybe you're doing 150 to 200. And you're just able to really grow that and you know, in 10 years, that is five to 10 years, depending on how the market is you're really almost able to replace your whole salary. And then the one quick thing is remember, this is tax deferred. So yeah, even though it's you know, 5000 to 10,000 in your first year. That is the equivalent of a lot more because you're not really paying taxes on it immediately.

 

Mike Swenson 

Talk a little bit about the markets. And you had mentioned, you know, I'd rattle off at the beginning, you know, Texas, Florida, Arizona, Oklahoma, where, where are you looking? What types of deal are you looking for? And why is it so attractive for for your investor partners?

 

Pranay Parikh 

The biggest thing we look at right now is downside protection. We've been focusing on this for years, but it's even more important right now. So we want to make sure not to lose any money. So you know, stock markets down 30%, Kryptos, down like 90%. So how do we make sure even if we get a 0% return, where your money stable, that's a win when everything down, everything else is down? 30%? But so we look at doomsday scenarios, right? If interest rates go up tremendously, which they have, rents are flat, like are we still able to make returns and you know, usually, we're still able to project a five to 10% IRR return, which is pretty good. So one of the reasons that we like those states is because there's no state tax. So one of the downsides in investing in real estate in another state, you got to pay state taxes for those returns.

 

Pranay Parikh 

But if you're investing in somewhere like Florida, or Texas, you don't have to pay that. So that's a, you know, couple percent added to your return, because you're not paying state taxes. And you know, a lot of doctors hate anything that complicates their taxes, because our taxes are kind of complicated already. So that's why we focus on those places. There's also a lot of job growth, there's a lot of population growth. And that's something that we think is important for the health of the property.

 

Mike Swenson 

Talk to me a little bit about you want to help physicians build and launch businesses side hustles, why it's important to do that, share with us a little bit more about that piece.

 

Pranay Parikh 

Yeah, so I have a podcast from MD to entrepreneur, where we teach doctors really the tools and resources and really the inspiration as well to launch a business. And you might have heard that there's really an epidemic of moral injury or burnout, you know, medicine is really changing, it's a lot more administrative, we don't get to spend as much time with patients as we'd like, we have to see a lot more. So a lot of people are making either a binary decision, or they're working their butt off and having this moral injury or they're retiring. And we're losing that experience intelligence, that skill. Maybe it's unfortunate, you know, it's even happening to some younger doctors, and they're switching to something else. So I think there's such as there's spectrum, there's a certain amount of shifts that you work over hours that you work, which is healthy for you. And I don't think it's full time for pretty much anyone.

 

Pranay Parikh 

And but that needs financial security, you need to have money coming in from somewhere to support yourself, right, just like all of us. So some people do real estate, but other people like to do something that's uses the other side of the brain. So for me, it's podcasts in real estate, other people are writers, other people do coaching. So I want to give people the skills because a lot of times we've gone through medicine, but we've really been focused on nothing else, but medicine, and maybe either just even when we had other skills, they're kind of rusty now. So I'm helping people give a chance and spark that inspiration. And you know, if we've seen anything over the past two years that more physician led businesses will just make the world a better place.

 

Mike Swenson 

Yeah, and I think it's, it's interesting, because, you know, yeah, having an outlet is important. And also what makes somebody successful in medicine is work ethic, determination, not willing, you know, don't want to give up, they see the bigger picture, right, you're willing to take on all these expenses, and all these loans, because you see the payoff at the end.

 

Mike Swenson 

So you're the delayed gratification piece. There's so many great qualities there that they can also move in another direction. I like you. I like what you said too, in terms of having a different outlet, like a creative outlet, like a podcast, it's it's relief, and yet it's still work at the same time. But it's a different part of the brain that you're using. And still using all those ingrained skills that you have and all those quality traits. You're just using it in a different space. So I love that.

 

Pranay Parikh 

Yeah, yeah, definitely. You know, it's just, it's right. It's a creative output. And even though it's more work, it's more work. It feels different. It doesn't feel like work. And even if it's a hobby or, you know, I don't monetize my podcast yet, potentially never will. But it's something that gives me some relief, you know, in a way to make a larger impact than just myself.

 

Mike Swenson 

I've heard that from a lot of podcasters you know, you really Have to enjoy podcasting for the joy of podcasting, you're meeting people making great relationships, that sort of thing. And yeah, if you if you monetize it down the road and you make money that's icing on the cake, but to set out to do it to monetize, you know, might be a challenge, or might just take a lot longer than you think to be successful. So that's why I continue to do it. I just love these types of relationships, meeting new people, learning new things, I love to learn. And so each episode, it's it's a whole new space that I'm learning. So it's, it's fantastic.

 

Pranay Parikh 

Yeah, it's getting a master class and being able to speak to an expert, which normally you'd never get a chance to. So I love it, too.

 

Mike Swenson 

What is the future hold for you? Where are you guys looking to grow in the future? what are maybe some goals or ideas that you have moving forward?

 

Pranay Parikh 

Yeah, you know, there's, we touch only very point, oh, 1% of doctors, we see doctors invest in bad investments all the time. So our goal is to just get more out there. And that's kind of why, you know, one of the reasons I'm doing this podcast just to let people know, and, you know, we want people to make good investments, they work really hard for their money. And even if that investment is with other people, I've invested with a bunch of other groups, including ours, ours and other groups, so long as people are getting into good investments, I'm happy. But a lot of that is trying to educate people and making sure that they know what a good investment is.

 

Mike Swenson 

So you're helping people with their money. You're helping people to build other businesses side hustles. That's awesome. And obviously, you guys are really successful in what you're doing with the funds that you have and the assets that you guys are managing. So congratulations on the success. Like you said, I love it a overnight success story that took 10 years, right? Yeah, definitely. For anybody that wants to learn more. You mentioned the podcast, but how can people find out more about you and what you're doing?

 

Pranay Parikh 

Yeah, so if they want to reach out to me if they want to talk anything about real estate, my email, Pranay, P r a n a y at ascent equity group.com Our website is ascend equity group.com. There's a way to sign up for our newsletter, you'll get a bunch of educational resources that we created to get you from not knowing anything about real estate to be feeling pretty confident, at least about all the terminology and all that stuff. So it's all on our website. And yeah, if you're interested in entrepreneurship from MD to entrepreneur, podcast, you can get it on Spotify, Apple podcasts pretty much anywhere you can find the podcast.

 

Mike Swenson 

Awesome. Well, thank you so much for now. We're so excited to have you on the show and just a wealth of great information. So thanks so much for sharing.

 

Pranay Parikh 

Thanks for the opportunity.

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