Your Financial Pharmacist

Tanh Truong discusses the differences and similarities between the residential and commercial real estate spaces and why he purchased a five million dollar strip mall. Key Points From This Episode An introduction to today's guest, Tanh Truong, and his five million dollar investment. The building's location, size, tenants, and price. How he discovered the deal on a poorly marketed website. The two anchor tenants: Dollar Tree and Loman's Furniture. What led him to consider investing in commercial property over residential homes. How cap rates are used to measure how well a property is doing. Why a higher cap rate usually means that a property is operating well. Which cap rate you should look for and what you should base this on. The total expenses involved in the five million dollar deal and what this translates to. How bringing tenants into a space and getting the rents up increases the value of the property. How the deal flow differs between single and multi-family property and commercial property. How Tanh had to leverage his partners in order to qualify for the loan he needed. Why traffic count is important for your plaza to actually succeed. Navigating the due diligence phase in commercial investments. Why he sees his role as a landlord as helping his tenants to succeed. How Tanh feels about the future of cap rates. The typical division of ownership among partners. Why Tanh is choosing to focus his energy on the commercial realm. Links Mentioned in Today's Episode YFP Real Estate Investing 04: How (and WHY) One Pharmacist Got Started in Real Estate Investing YFP Real Estate Investing Join the YFP Real Estate Investing Facebook Group Your Financial Pharmacist Disclaimer and Disclosures

Dr. DeLon Canterbury recounts how early setbacks motivated him to start a business in the middle of a pandemic and how his personal 'why' shaped the work he is doing to help solve the problem of mismanaged medications in the senior population. Key Points From This Episode How DeLon's love of medicine was inspired by his mother's expertise in herbology. What moved him to get his Board Certified Geriatric Pharmacy degree. The recognizable dark road that almost led him out of the profession. How the experience of not getting into residency turned out to be a blessing in disguise. How DeLon's involvement with community helped him learn to lead by service. The pivot point that reinvigorated his passion for pharmacy. The power of patient advocacy and teaching patients to advocate for themselves. About his work with a local nonprofit for older patients and what services they provide. Hear about the care GeriatRx provides, from advocacy to deprescribing methods. DeLon's moving story of his 'Why' and becoming the voice for caregivers and patients. Some of the groups he works with and their incredible service to underserved people. A story of being an expert medical witness and the ugly part of families and elderly care. Getting into the finances; how he got the capital to create this business. Learning to articulate his value when he was starting out. DeLon shares some great entrepreneurship advice for his fellow pharmacists out there. Links Mentioned in Today's Episode YFP Planning: Financial Planning for Pharmacists Schedule a free Discovery Call with YFP Planning GeriatRx: Senior Care Consulting Senior PharmAssist Alzheimer's Association Parkinson's Association of the Carolinas Dementia Alliance of North Carolina: Support Groups Connect with GeriatRx on Facebook Connect with DeLon Canterbury on LinkedIn Follow DeLon Canterbury on Twitter: @GeriatRx Follow DeLon Canterbury on Instagram: @geriatrx Email DeLon Canterbury: geriatrxinc@gmail.com Your Financial Pharmacist Disclaimer and Disclosures

Welcome to Ask a YFP CFP®, a segment of the Your Financial Pharmacist Podcast! On today's show Tim Baker, CFP®, takes this question from Nicole in Cincinnati, Ohio: Are computer-managed investments better than an individual managing your account? Mentioned on the Show: YFP Planning: Financial Planning for Pharmacists YFP 075: DIY, Robo or Hire a Planner? Create a Comprehensive Estate Plan with Thoughtful Wills Send in your questions here or to info@yourfinancialpharmacist.com Your Financial Pharmacist Disclaimer and Disclosures Disclaimer: This podcast is intended for educational purposes and should not be considered financial or investment advice as we do not know all the variables to one's personal situation when answering a question.

Nate Hedrick and David Bright discuss how to determine your repair and capital expense budget for your properties and how these two budget lines can make or break your investment. Key Points From This Episode A reminder to keep repairs and capital expenditures separate when budgeting. Defining the two categories and some example issues of each. Some different theories and approaches, and the advantages/disadvantages of each. Three quick tips to keep in mind when trying to estimate repairs. Some examples of what we've done to minimize things that could go wrong. How to take into account the age of the property and fixtures. Ways to use your sinking fund, plus a reminder to be flexible to include inflation. Four market-dependent CapEx points to be intentional about when finding houses. The importance of talking to a local expert when evaluating rent prices. Some great resources for you, from articles to podcast episodes to a free guide. Links Mentioned in Today's Episode YFP Real Estate Investing 06: Picking (and Switching) Property Managers YFP Real Estate Investing 14: Protecting Your Investments YFP Real Estate Investing 35: Making Connections Through Local Real Estate Meetups Register for a Your Financial Pharmacist Webinar How to Estimate Future CapEx Expenses on a Rental Property by Brandon Turner YFP Real Estate Investing Find an Investor-Friendly Agent YFP Real Estate Investing 18: Tax Strategies for Real Estate Investing Download The Pharmacist's Guide to Real Estate Investing Join the YFP Real Estate Investing Facebook Group Your Financial Pharmacist Disclaimer and Disclosures

Tim Baker talks through two I's that you might be overlooking as it relates to your financial plan: inflation and I-Bonds. Key Points From This Episode Kicking off with inflation; what the term actually means and why it's the current hot topic. Breaking down the inflation statistics and how it's affecting your buying power over time. Encouraging the listener to start by listening to Ask a YFP CFP® episode 93 Introducing I-Bonds, not to be confused with E-Bonds. Who the I-Bond is suitable for, and the big potential drawback: the holding period. Some of the interesting and quirky rules of I-Bonds. Why methods to protect you against inflation are important. How folks often underestimate their nest egg needs because of not considering inflation. Talking about inflation in the context of an emergency fund. Tim offers some different ways you can slice the apple, depending on the scenario. Links Mentioned in Today's Episode Join the YFP Tax Waitlist Investopedia: What is inflation? Your Financial Pharmacist Webinars Ask a YFP CFP® #93: Is it ok to have a portion of my emergency fund in electronic U.S. Treasury Savings Bonds? TreasuryDirect Series I Savings Bonds: End-Of-Year Strategies To Take Advantage Of The Current High Interest Rate YFP Planning: Financial Planning for Pharmacists Schedule a free Discovery Call with YFP Planning Your Financial Pharmacist Disclaimer and Disclosures

Welcome to Ask a YFP CFP®, a segment of the Your Financial Pharmacist Podcast! On today's show Tim Baker, CFP®, takes this question from Andrew in Cincinnati, Ohio: Should I use a 15-year or 30-year mortgage when buying or refinancing a home? Mentioned on the Show: YFP Planning: Financial Planning for Pharmacists Homebuying Resources Send in your questions here or to info@yourfinancialpharmacist.com Your Financial Pharmacist Disclaimer and Disclosures Disclaimer: This podcast is intended for educational purposes and should not be considered financial or investment advice as we do not know all the variables to one's personal situation when answering a question.

Josh Ebbing talks us through his last few years in real estate and what he's done to both find and fund the deals that have allowed him to scale so quickly. Key Points From This Episode Introducing Josh Ebbing, a fellow real estate investor who is doing incredible things. How he jumped right into real estate and how his portfolio has shifted since then. Overcoming deal paralysis and accepting that it's always going to be a leap of faith. The two common factors that galvanized him to get his real estate license. How the pharmacy traits of ethical prowess – and record-keeping – have helped him. Falling in love with the passive income and tangible results of real estate. Josh's advice for anyone starting out. Hear about the moment he ditched the do-it-yourself, sweaty equity approach. Finding the work-life balance, and how Josh works with his goals. We dig into cash flow in single families versus multifamily units. Hear a story of a great multifamily purchase he made from the for-sale sign on the lawn. Finding and funding the deals that have led to his exponential growth and success. Josh's overarching goal for 2022 and some sage advice around planning. Links Mentioned in Today's Episode YFP Concierge Service BiggerPockets Reddit: Real Estate Investing TikTok Ohio Housing Finance Agency Follow Josh Ebbing on Instagram: @realtorjoshebbing Red Oak Realty YFP Real Estate Investing Join the YFP Real Estate Investing Facebook Group Your Financial Pharmacist Disclaimer and Disclosures

Mike Koelzer, CEO of Kay Pharmacy and host of The Business Pharmacy Podcast, discusses the mindset, habits, and behaviors of successful pharmacy influencers and entrepreneurs. Key Points From This Episode How the family business started. Hear about the creation of The Business of Pharmacy podcast. Mike's approach to maximizing his time each day, and how to use lists more efficiently. What common threads Mike's guests have, striving to achieve something great. How focus and goal-setting are like sailing. The amazing ways we are now able to receive feedback faster and pivot quicker. Mike shares some actionable advice about how to get started with any new idea. The general outlook most guests have on the pharmacy profession. Talking about luck versus hard work. A common thing that takes people out of just being satisfied with the status quo. Mike's strong advice for those who have dreams but are struggling financially. Links Mentioned in Today's Episode Kay Pharmacy & Home Medical Equipment The Business of Pharmacy Podcast YFP Planning: Financial Planning for Pharmacists Schedule a free Discovery Call with YFP Planning The Business of Pharmacy Podcast: Is Pharmacy School Worth It? Procrastinate on Purpose: 5 Permissions to Multiply Your Time by Rory Vaden Getting Things Done: The Art of Stress-Free Productivity by David Allen How I Built This with Guy Raz 17 Questions That Changed My Life by Tim Ferriss The 4-Hour Workweek: Escape 9-5, Live Anywhere, and Join the New Rich by Tim Ferriss Start.: Punch Fear in the Face, Escape Average, and Do Work That Matters by Jon Acuff Tribe Of Mentors: Short Life Advice from the Best in the World by Tim Ferriss 12 Rules for Life: An Antidote to Chaos by Jordan B. Peterson Beyond Order: 12 More Rules for Life by Jordan B. Peterson Connect with Mike Koelzer on LinkedIn Your Financial Pharmacist Disclaimer and Disclosures

Welcome to Ask a YFP CFP®, a segment of the Your Financial Pharmacist Podcast! On today's show Tim Baker, CFP®, takes this question from Jacob in Lancaster, Ohio: Should I max out my contributions to my 401(k) or 403(b) before contributing to other retirement accounts? Mentioned on the Show: YFP Planning: Financial Planning for Pharmacists Department of Labor EFAST Form 5500 Search YFP 073: How to Determine the Priority of Investing YFP 208:Why Minimizing Fees on Your Investments is so Important Schedule a free Discovery Call with YFP Planning Send in your questions here or to info@yourfinancialpharmacist.com Your Financial Pharmacist Disclaimer and Disclosures Disclaimer: This podcast is intended for educational purposes and should not be considered financial or investment advice as we do not know all the variables to one's personal situation when answering a question.

Jared Wonders returns to the show to share how he manages tenant turnover as a real estate investor and busy full-time pharmacist. Key Points From This Episode Jared explains how a new multi-family property meant multiple new tenants and tackling the turnover all at once. Some details about these two types of properties, and communicating with the tenants. Doing an Estoppel Certificate, and knowing your market rents when inheriting tenants. What action steps Jared took when two of the three tenants gave their 30-day notices. Talking about turnover; septic, new windows, appliances, and supply chain issues. Jared chats about the repair standpoint specifically and having a flexible timetable. How previous experience will give you the confidence to tackle the next property. Some creative options to solve supply chain problems. What is LVP, how to get great pictures, and why he did only one property at a time. How and when Jared listed the properties for rent again. Hear about the time frame before the first showing and what factors affected this. Scheduling viewings outside professional hours, and why he likes individual showings. The importance of following the Fair Housing guidelines, and having clear criteria. Jared talks about his tenant application process and verifying their income. Taking care of deferred maintenance by dealing with it during tenant turnover. Jared's final words of advice on screening and how to treat the tenant like your client. Links Mentioned in Today's Episode Learn More About the None to One Group Coaching Program Email the YFP Real Estate Investing Podcast: realestate@yourfinancialpharmacist.com Join the YFP Real Estate Investing Facebook Group YFP Real Estate Investing 38: New Years Goals for Real Estate Investing Your Financial Pharmacist Webinars YFP Real Estate Investing 02: Long Term vs. Short Term Rental Property Investing - One Pharmacist's Perspective YFP Real Estate Investing 28: Property Management Fundamentals: Criteria and Pets Apartments.com BiggerPockets: Leases YFP Real Estate Investing Your Financial Pharmacist Disclaimer and Disclosures