#171: Dr. Gurpreet Padda: Creating Wealth with Real Estate for Healthcare Professionals

<p><strong>OVERVIEW:</strong></p> <p><span style="font-weight: 400;">Jason A. Duprat, Entrepreneur, Healthcare Practitioner and Host of the</span> <em><span style= "font-weight: 400;">Healthcare Entrepreneur Academy</span></em> <span style="font-weight: 400;">podcast speaks with Dr. Gurpreet Padda, MD, MBA and entrepreneur. Dr. Padda is an avid real estate investor. He shares the lessons he has learned as an early entrepreneur and also provides tips for healthcare professionals interested in creating wealth through real estate investment. </span></p> <p> </p> <p><strong>EPISODE HIGHLIGHTS:</strong></p> <ul> <li><span style="font-weight: 400;">Dr. Padda grew up in India during war and uncertainty. He moved to the US when he was 8 and started his first business at the age of 10 selling cards door-to-door. </span></li> <li><span style="font-weight: 400;">At 16, he had a team of 30-year-old men working for him. He states - I was an entrepreneur before I went into medicine. </span></li> <li><span style="font-weight: 400;">Dr. Padda made it through medical school by hustling, which he did through real estate auctions. </span></li> <li><span style="font-weight: 400;">During his first year of residency, Dr. Padda rehabbed an eight-unit building in Chicago.</span></li> <li><span style="font-weight: 400;">After his residency, he went into pediatric anesthesiology for heart, liver and lung transplants. His medical path also included addiction and interventional pain management. </span></li> <li><span style="font-weight: 400;">Dr. Padda’s practice has 7 locations and he provides $1.5 million in free care. </span></li> <li><span style="font-weight: 400;">“Option” is when you purchase a sale contract with an option to buy. You have three months to decide if you want to buy and the price is held at the same level. If you decide not to buy, you’re usually only out $100.</span></li> <li><span style="font-weight: 400;">Dr. Padda uses option contracts, where he’s looking at zoning and municipal plans. He researches what’s being pla