Episode 04

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Notes of the Episode

Dr. Dylan Koch talks about his mindset shift and how it impacted his journey from being a full-time pharmacist to focusing on investing in real estate. We’ll also hear about how Robert Kiyosaki’s book, Rich Dad, Poor Dad, influenced him to pursue financial independence and have multiple income streams.

Dylan did not have a mentor when he was starting. Instead, he learned how to leverage debts and invest in real estate through books and podcasts like this. Be all ears up to the end as Dylan shares his valuable advice to new pharmacists and pharmacy owners on replacing pharmacist income with passive investments. Listen now!

 

Key Points from This Episode

  • How Dylan, a full-time pharmacist, transitioned to real estate.
  • How Robert Kiyosaki’s book, Rich Dad, Poor Dad changed his mindset and impacted his journey.
  • What made him decide to replace his pharmacist income with passive investments?
  • Dylan’s advice to new pharmacy graduates: have a clear plan.
  • Dylan’s first real estate investment deal: a duplex.
  • The advantages of finding the right partner to work with in the deal.
  • Dylan’s advice on property acquisition.
  • Dylan’s advice to pharmacy owners who want to invest in real estate for passive income.
  • What does he see in the market right now?

 

Tweetables:

“I can make my own money working for someone else and then build up my own stream of passive income.” [00:09:18]

“If you’re just graduating, write down what your goals are so at least you could set a clear plan on how to get there and then just reverse-engineer the plan from there.” [00:12:04]

“Focus on making more money first and then get yourself in a position where you can do the slow and steady compounding wealth.” [00:12:51]

 

Links Mentioned:

Dr. Dylan Koch on Facebook

Dr. Dylan Koch on Instagram

Dr. Dylan Koch on Twitter

Rich Dad Poor Dad: 20th Anniversary Edition: What the Rich Teach Their Kids About Money That the Poor and Middle Class Do Not! by Robert Kiyosaki

Everything is Figureoutable by Marie Forleo

BiggerPockets

Macrovoices Investing Podcast

Forward Guidance podcast

 

About Dr. Dylan Koch

Dylan was born and raised in a small town, a very blue-collar area in western Ohio. He went to the University of Cincinnati to study pharmacy and graduated six years later, in 2017. Dylan was very career-oriented at first and went on to manage a retail pharmacy at 25. However, his mindset shifted from salary/career-oriented to entrepreneur and investing-oriented after he read Rich Dad Poor Dad by Robert Kiyosaki. 

 He bought his first house hack in June 2018, his second in August 2018, and another in January 2019. 

 Through a partnership, Dylan built up to 13 residential units b/t SFH and small multi-families. When his partnership ended, he divested his assets and went full-time in real estate in September 2020. 

Since then, Dylan has added seven units to his portfolio, six wholesales, one flip, and three agent sales. 

 

Transcript of Episode

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