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

"Episode Summary What if you could take just 100 hours a year and legally transform your tax bill — 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 — 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. 💡 Key Takeaways: - The “guilt trap” doctors face when considering a pivot - Why your degree doesn’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 doesn’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 🕒 Topics Covered: [00:01:00] When COVID changed everything [00:03:30] Easing into real estate without quitting cold turkey [00:07:00] From “I’m not a business person” 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 — and what it revealed [00:14:30] From 1 to 3 STRs — 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 📚 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 😄) 🎯 Action Steps: 1. Get clear on your “why” before investing 2. Explore your own market — there may be hidden gems 3. Don’t delay your first launch — perfection can wait 4. Start tracking time to qualify for tax benefits 5. Talk to a tax pro who understands STR-specific strategies 🎁 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 💬 Leave a review below with your thoughts and questions! 🔔 Subscribe to our channel for more inspiring stories and real estate tips! 📱 Follow us on social media for daily updates and exclusive content! Stay connected and let us help you unlock your real estate success! 🚀"