Episode 144: Doctors: Turn 100 Hours/year into Tax Savings!

25 Jun 2025 โ€ข 32 min โ€ข EN
32 min
00:00
32:07
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"Episode Summary What if you could take just 100 hours a year and legally transform your tax bill โ€” without quitting your job, getting a second degree, or going full-time into real estate? Dr. Rachel sits down with Dr. Annie Purcell, a physician turned real estate agent, who did exactly that. After a pandemic-prompted wake-up call, she pivoted toward building income through short-term and mid-term rentals โ€” while still balancing life as a mom and full-time doctor. They talk candidly about burnout, identity shifts, and how one accidental rental opened the door to financial peace and long-term wealth. ๐Ÿ’ก Key Takeaways: - The โ€œguilt trapโ€ doctors face when considering a pivot - Why your degree doesnโ€™t define your destiny - How Annie used one vacation home to start her portfolio - What the STR loophole is and why it matters - Managing a portfolio without real estate professional status - Why real estate doesnโ€™t always mean leaving medicine - Northern California: a surprisingly cash-flow-positive market - The power of outsourcing and hiring help (hello, personal assistant!) - Why momentum beats perfection in launching your first rental ๐Ÿ•’ Topics Covered: [00:01:00] When COVID changed everything [00:03:30] Easing into real estate without quitting cold turkey [00:07:00] From โ€œIโ€™m not a business personโ€ to team builder [00:09:00] The second home that became an accidental STR [00:11:00] Understanding the short-term rental tax loophole [00:13:00] That first big tax refund โ€” and what it revealed [00:14:30] From 1 to 3 STRs โ€” then switching to LTRs for scale [00:17:30] Why her California rentals outperform Texas [00:22:00] Believing in your future success upfront [00:24:30] The emotional burnout moment that sparked real change [00:27:00] The biggest mistake investors make with market selection [00:29:00] Real estate is not one-size-fits-all ๐Ÿ“š Resources Mentioned: - CROWW Framework: Connection, Referrals, On-Trend Reports, Word of Mouth, Work Opportunities - EOS Books: Traction, Rocket Fuel, Entrepreneurial Leap - Tax Strategy 101: STR Loophole + Bonus Depreciation - Rich Dad Poor Dad (honorable mention ๐Ÿ˜„) ๐ŸŽฏ Action Steps: 1. Get clear on your โ€œwhyโ€ before investing 2. Explore your own market โ€” there may be hidden gems 3. Donโ€™t delay your first launch โ€” perfection can wait 4. Start tracking time to qualify for tax benefits 5. Talk to a tax pro who understands STR-specific strategies ๐ŸŽ FREE RESOURCES - Download the ""75 Gems"" Training: shorttermgems.com/75gems - Join Our Community: facebook.com/groups/422973842093365 - Follow Us on Instagram: instagram.com/short.term.gems - Visit Our Website: shorttermgems.com - Book a Strategy Call: shorttermgems.com/book - Listen to the Podcast: shorttermgems.com/podcast ๐Ÿ’ฌ Leave a review below with your thoughts and questions! ๐Ÿ”” Subscribe to our channel for more inspiring stories and real estate tips! ๐Ÿ“ฑ Follow us on social media for daily updates and exclusive content! Stay connected and let us help you unlock your real estate success! ๐Ÿš€"

From "The Luxury Rental Doctor Show"

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