Three Things You Need to Do to Begin Your Investing Journey with Dr. Drew Wiard
12/06/22 • 46 min
If you’re at the beginning of your investing journey and trying to figure out how to get going, there are three things you have to do – network, educate yourself, and take action. This is how Dr. Drew Wiard started, and we’ll hear about his journey from being a pharmacist to a successful real estate investor in this episode!
Listen and be inspired as Dr. Wiard talks about how he scaled from his first house rental to multiple real estate investments! He also shares his mindset shift from being a pharmacist to an investor, what he would have done to scale faster, and tips on doing your due diligence to find the best operator or syndicator. Enjoy the show!
Key Points from This Episode:
- Dr. Wiard’s growing up years in Indiana.
- What led Dr. Wiard to pharmacy?
- How he managed to do his residency in the morning, his MBA at night, and buy his first house.
- Dr. Wiard’s advice to pharmacists who are planning to purchase their first property.
- What was his mindset when he made his first real estate investment?
- How has his mindset on investing evolved through the years?
- What helped him shift from a healthcare professional mindset to an investor mindset?
- Getting around people who are willing to take risks was pivotal for him.
- How to organize your time.
- How to educate yourself about investing.
- How to create your network.
- How to take action.
- Beginning with the end in mind.
- The highest return on investment will require more of your time.
- How Dr. Wiard does his due diligence and finds the best operator or syndicator.
- How he scaled to where he is at today.
- What he would have done differently to scale faster.
Tweetables:
“Networking is the single most important thing because if you’re the average of the five people you hang out with the most, then you probably need to shift whom you hang out with.” [00:17:04]
“If you’re trying to find time, you’re never going to find it. You have to create it. [00:18:13]
“You don’t find deals in this market. Good deals are created in this market.” [00:18:19]
“If you’re at the beginning and you’re trying to figure out how to get going, there are three things you’ve got to do – network, educate yourself, and take action.” [00:18:23]
Links Mentioned:
About Dr. Drew Wiard
Born and raised in Indiana, Drew earned his Pharm.D from Purdue University in '05 and went immediately into Residency and MBA. He has been in Hospital Pharmacy Leadership in various roles until retiring from medicine in June of 2022.
On the side, Drew has been investing in MULTIPLE real estate investment strategies (rentals, commercial, industrial, NNN, Apartment Syndications, etc...) for the past seven years, allowing him to exit his W2 fully. He can now be found across all social media sharing his love of flying paramotors and his investment journey a
The main sponsor of our podcast is Rx Real Estate Investment. They make everything we do possible, and our conversations and interviews would not be available without their support. If you want to diversify your retirement portfolio and get into commercial real estate investing, working with Rx Real Estate Investment may be a great match for you. Check out the website at www.rxrei.com.
Connect with us!
Jeff Stark
Claude Condo
Newsletter
If you’re at the beginning of your investing journey and trying to figure out how to get going, there are three things you have to do – network, educate yourself, and take action. This is how Dr. Drew Wiard started, and we’ll hear about his journey from being a pharmacist to a successful real estate investor in this episode!
Listen and be inspired as Dr. Wiard talks about how he scaled from his first house rental to multiple real estate investments! He also shares his mindset shift from being a pharmacist to an investor, what he would have done to scale faster, and tips on doing your due diligence to find the best operator or syndicator. Enjoy the show!
Key Points from This Episode:
- Dr. Wiard’s growing up years in Indiana.
- What led Dr. Wiard to pharmacy?
- How he managed to do his residency in the morning, his MBA at night, and buy his first house.
- Dr. Wiard’s advice to pharmacists who are planning to purchase their first property.
- What was his mindset when he made his first real estate investment?
- How has his mindset on investing evolved through the years?
- What helped him shift from a healthcare professional mindset to an investor mindset?
- Getting around people who are willing to take risks was pivotal for him.
- How to organize your time.
- How to educate yourself about investing.
- How to create your network.
- How to take action.
- Beginning with the end in mind.
- The highest return on investment will require more of your time.
- How Dr. Wiard does his due diligence and finds the best operator or syndicator.
- How he scaled to where he is at today.
- What he would have done differently to scale faster.
Tweetables:
“Networking is the single most important thing because if you’re the average of the five people you hang out with the most, then you probably need to shift whom you hang out with.” [00:17:04]
“If you’re trying to find time, you’re never going to find it. You have to create it. [00:18:13]
“You don’t find deals in this market. Good deals are created in this market.” [00:18:19]
“If you’re at the beginning and you’re trying to figure out how to get going, there are three things you’ve got to do – network, educate yourself, and take action.” [00:18:23]
Links Mentioned:
About Dr. Drew Wiard
Born and raised in Indiana, Drew earned his Pharm.D from Purdue University in '05 and went immediately into Residency and MBA. He has been in Hospital Pharmacy Leadership in various roles until retiring from medicine in June of 2022.
On the side, Drew has been investing in MULTIPLE real estate investment strategies (rentals, commercial, industrial, NNN, Apartment Syndications, etc...) for the past seven years, allowing him to exit his W2 fully. He can now be found across all social media sharing his love of flying paramotors and his investment journey a
The main sponsor of our podcast is Rx Real Estate Investment. They make everything we do possible, and our conversations and interviews would not be available without their support. If you want to diversify your retirement portfolio and get into commercial real estate investing, working with Rx Real Estate Investment may be a great match for you. Check out the website at www.rxrei.com.
Connect with us!
Jeff Stark
Claude Condo
Newsletter
Previous Episode
Using Real Estate Investing to Serve His Healthcare Purpose with Bryce Platt, PharmD
Bryce Platt is super focused on his pharmacist career but also invests in real estate. His real estate portfolio allows him to serve his healthcare purpose and take risks in his career.
In this episode, Bryce talks about the disastrous beginnings of his house hacking journey and the lessons that came out of it. He also explains the house hacking strategy and gives tips for pharmacists who want to try it out. Listen and be inspired by his story!
Key Points from This Episode:
- Bryce talks about his life in Kansas City.
- Why Bryce picked pharmacy and how his career started.
- His advice for younger pharmacists: invest in your education and network.
- Bryce has found a way to get real estate investing to serve his healthcare purpose.
- How his house hacking journey began and the lessons he has learned.
- Bryce explains the house hacking strategy for pharmacists and other healthcare professionals.
- Where should pharmacists who want to house hack start?
- What is Bryce’s goal in the future and what are other areas of real estate or investing that he would like to venture into?
Tweetables:
“I see reading as a bigger mentor than anybody I ever had.” [00:10:29]
“There are all those kinds of things that are risks in your business and if you only have that one income source, you don’t have control of that. [00:20:22]
“I could see commercial investing as the way to make it even more passive. [00:35:20]
Links Mentioned:
About Bryce Platt, PharmD
Bryce Platt, PharmD is a consultant pharmacist at MakoRx and a real estate investor. He earned his Doctor of Pharmacy degree from the University of Kansas. He is a disciplined, growth-minded pharmacist who implements time-saving procedures and process improvements and constructs patient health programs. He used a concierge service to land a 4-by-4 condo in North Carolina, where he plans to take on 3 rent-paying tenants to live for FREE!
Bryce is experienced in Medicare, Medicaid, commercial programs, quality improvement efforts such as HEDIS and Star measures, and interprofessional group collaboration. His expertise includes designing and implementing new programs and products that enhance patient health and lower healthcare costs.
Bryce is a pharmacist that has created multiple programs that utilize pharmacists to enhance patient health and lower healthcare costs. He completed a post-doctoral fellowship in Population Health Management with Omnicell and Campbell University College of Pharmacy and Health Sciences in July 2019.
The main sponsor of our podcast is Rx Real Estate Investment. They make everything we do possible, and our conversations and interviews would not be available without their support. If you want to diversify your retirement portfolio and get into commercial real estate investing, working with Rx Real Estate Investment may be a great match for you. Check out the website at www.rxrei.com.
Connect with us!
Jeff Stark
Claude Condo
Newsletter
Next Episode
How to Grow a Successful Business and Diversify in Real Estate with Kyle Klitzke
Kyle Klitzke is not a pharmacist, but he successfully runs a pharmacy! What is his secret sauce for growing his business? In this episode, Kyle will speak on how to start and grow a successful business, the challenges he faced in the first year of his business, and the mindset that helped him overcome every struggle.
Our conversation also zeroes in on how to diversify in real estate. Kyle learned that most pharmacists and healthcare professionals find it hard to invest or start a business because they can’t get up from behind the counter to explore other opportunities. Listen now and glean from Kyle’s entrepreneurial journey!
Key Points from This Episode:
- Kyle Klitzke’s childhood and educational background.
- How Kyle was able to buy a business at 24 years old with no assets and a huge student loan debt.
- Hard lessons Kyle learned in business acquisition.
- Kyle’s mindset that got him through the challenges he faced in running a pharmacy business although he was not a pharmacist.
- Not being a pharmacist was a drawback, but Kyle saw it as a benefit and opportunity to focus more on growing his business while he hired a pharmacist to stay behind the counter.
- If you want to diversify, don’t abandon your main business that generates money.
- Find out your value per hour and prioritize the things that yield a higher return on your time.
- In real estate investing, you don’t have to learn everything. You can do syndications and earn passively.
- Kyle learned about investing in syndications through Dr. Jeff Anzalone (Link below on our episode with Dr. Anzalone).
- Books and podcasts that have educated Kyle about business and investing.
Tweetables:
“There’s tons of opportunities in pharmacy, you just got to get up from behind the counter and go get them.” [00:22:50]
“When you don’t have a plan B, plan A has got to work. You just have to keep working on plan A until something changes.” [00:28:41]
“Don’t quit letting the main thing be the main thing.” [00:38:17]
Links Mentioned:
Episode 7 - Ways to Achieve Wealth and Financial Freedom with Dr. Jeff Anzalone
The Millionaire Next Door (book)
Craig Groeschel Leadership Podcast
About Kyle Klitzke
Kyle Klitzke is the founder and owner of Community Pharmacy. They currently have 2 retail locations and a long term care division. Unlike most pharmacy owners, Kyle is not a pharmacist. He has a degree in Chemical Engineering from Louisiana Tech University and also pursued his MBA from Auburn University.
Kyle's goal has always been to be an entrepreneur and that goal was achieved in 2005 when he acquired Tri-Care Home Medical, a medical equipment supply company and pharmacy. Since 2005, he has acquired and sold Tri-Care Home Medical, started and sold MedNurse, a nurse staffing company, started and sold SanoCare, a wound care company, and started Community Pharmacy. He devotes mor
The main sponsor of our podcast is Rx Real Estate Investment. They make everything we do possible, and our conversations and interviews would not be available without their support. If you want to diversify your retirement portfolio and get into commercial real estate investing, working with Rx Real Estate Investment may be a great match for you. Check out the website at www.rxrei.com.
Connect with us!
Jeff Stark
Claude Condo
Newsletter
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