Why Doctors are Afraid of Real Estate with Dr. Tudor Francu
Summary
TLDRIn this episode of the Money Partner Formula, host Dave Deau interviews Dr. Tor Frangu, a busy doctor turned real estate entrepreneur who has built an impressive portfolio of nearly 5,000 units. Despite his demanding profession, Dr. Frangu actively invests in real estate, manages properties, and raises capital. He shares his journey from a Romanian immigrant to a successful real estate investor, emphasizing the importance of education, networking, and leveraging mentorship to scale a real estate business efficiently. The episode aims to inspire busy professionals, especially doctors, to explore real estate investing as a viable path to financial freedom.
Takeaways
- 😀 Dave Deau, the founder of Money Partner Formula, hosts a show for real estate investors interested in scaling their businesses with other people's money.
- 👨⚕️ Dr. Tor Frangiu, a busy medical professional, shares his journey as a real estate entrepreneur, emphasizing that being busy is not an excuse to avoid investing in real estate.
- 🏠 Dr. Frangiu started his real estate investment with a one-bedroom property in Baltimore, showcasing that everyone starts somewhere in real estate investing.
- 📈 He built an impressive portfolio of nearly 5,000 units, mainly as a general partner and syndicator, proving active involvement in real estate despite his medical career.
- 🌟 Dr. Frangiu's success in real estate was sparked by attending a Robert Kiyosaki webinar, which opened his eyes to different perspectives on investing.
- 📚 The importance of financial education and self-learning is highlighted, as Dr. Frangiu educated himself about the financial system and real estate investing.
- 🔑 Dr. Frangiu emphasizes that real estate investing does not require physical labor; it can be outsourced to property management companies, allowing passive investment.
- 💡 For busy professionals, Dr. Frangiu recommends identifying their 'why' for investing in real estate and understanding the different avenues available for investment.
- 🤝 Networking and mentorship are crucial for success in real estate, as Dr. Frangiu himself sought a mentor when transitioning from single-family to multi-family investments.
- 💼 Dr. Frangiu continues to balance his medical practice with his real estate business, showing that it is possible to manage multiple commitments effectively.
- 🌐 Interested individuals can connect with Dr. Frangiu through his website, Stellar Multifamily, for more information and guidance on real estate investing.
Q & A
What is the primary focus of the show 'Built for everyday Real Estate Investors'?
-The show is focused on providing insights and experiences for everyday real estate investors who are actively doing deals and looking to scale their investments using other people's money.
Who is the founder of Money Partner Formula and the host of the show?
-Dave Deau is the founder of Money Partner Formula and the host of the show 'Built for everyday Real Estate Investors'.
What is Dr. Tor Frangiu's professional background before he became a real estate entrepreneur?
-Dr. Tor Frangiu is a doctor by profession. He immigrated to the United States from Romania and had to go through the process of establishing himself in the medical field, including completing his residency in the U.S.
How did Dr. Frangiu's interest in real estate begin?
-Dr. Frangiu's interest in real estate began after attending a weekend webinar by Robert Kiyosaki, which opened his eyes to a different approach to investing and asset management.
What was Dr. Frangiu's first investment property and how did he finance it?
-Dr. Frangiu's first investment property was a one-bedroom house in Baltimore, which he bought with cash and semi-fixed himself.
What is the current size of Dr. Frangiu's real estate portfolio?
-Dr. Frangiu currently has about 5,000 units in multifamily apartment buildings, with around 800 of them under his active management as a general partner.
Why do you think high-income professionals like doctors are not more involved in real estate investing?
-Dr. Frangiu believes that high-income professionals are not involved in real estate investing because they have misconceptions about the level of involvement and maintenance required, fearing the need for hands-on property management.
What advice does Dr. Frangiu give to busy professionals who are interested in real estate investing?
-Dr. Frangiu advises busy professionals to first determine their goals for investing in real estate, understand their comfort level with different types of investments, and then network and seek mentorship from successful individuals in the field.
How does Dr. Frangiu manage his time between his medical practice and his real estate investments?
-Dr. Frangiu maintains a balance by still practicing medicine a few days a month while focusing primarily on his real estate investments.
What is the best way for someone to connect with Dr. Frangiu and learn more about his approach to real estate investing?
-The best way to connect with Dr. Frangiu is through his website, stellarmultifamily.com, where interested individuals can reach out to him via email or social media.
What is the main service offered by Money Partner Formula to real estate investors?
-Money Partner Formula helps real estate investors create a process for predictably getting capital, allowing them to do more deals without relying on hard money lenders or banks, by building a private capital marketing system.
Outlines
🏡 Introduction to the Show and Special Guest
Dave Deau, founder of MoneyPartnerFormula.com, introduces the show designed for active real estate investors looking to scale using other people's money. He invites investors to be featured on the show. Dave introduces Dr. Tor Franuk, a busy doctor and active real estate entrepreneur with a portfolio of nearly 5,000 units, emphasizing his hands-on involvement in managing properties and investor relations.
🌟 Dr. Franuk's Journey to Real Estate
Dr. Franuk shares his background, coming to the United States from Romania after the fall of the Communist regime. He details his early challenges, including learning the financial system and attending one of Robert Kiyosaki's seminars, which inspired him to start investing in real estate. His first investment was a one-bedroom house in Baltimore, which he semi-fixed himself and rented out, emphasizing the importance of learning and networking.
🚀 Scaling the Real Estate Business
Dr. Franuk discusses his progression from single-family homes to multifamily properties. He highlights the advantages of multifamily investments, including scalability and better management leverage. He encourages busy professionals to find their niche in real estate and to seek mentorship to accelerate their learning. He also shares his method of leveraging experienced professionals to fast-track his success.
👨⚕️ Balancing Medicine and Real Estate
Despite his busy schedule as a doctor, Dr. Franuk manages several apartment buildings, primarily in Texas. He details his responsibilities, including site visits, property management meetings, financial oversight, and investor communications. He enjoys the challenges and excitement of real estate, viewing it as a dynamic and rewarding endeavor.
🔗 Connecting with Dr. Franuk
Dr. Franuk invites viewers to connect with him through his website, StellarMultifamily.com, or on social media. He expresses his willingness to discuss and educate others about real estate investing. Dave concludes the episode by encouraging busy professionals to explore real estate, emphasizing that with the right approach, anyone can succeed.
Mindmap
Keywords
💡Real Estate Investing
💡Other People's Money
💡General Partner
💡Syndication
💡Financial Education
💡Passive Income
💡Cash Flow
💡Multifamily Properties
💡Mentorship
💡Networking
Highlights
Dave Deau, founder of Money Partner Formula, introduces the show aimed at real estate investors looking to scale using other people's money.
Dr. Tor Frangu shares his background as an immigrant from Romania and his journey into the U.S. financial system.
Dr. Frangu's first exposure to real estate was through a Robert Kiyosaki webinar, which sparked his interest.
He emphasizes the importance of doing rather than just reading about investments, starting with a one-bedroom house in Baltimore.
Dr. Frangu transitioned from single-family homes to multifamily apartment buildings for better scalability.
He discusses the misconceptions busy professionals have about real estate investing, such as the need for hands-on maintenance.
Dr. Frangu explains the passive investment opportunities available in real estate, like being a limited partner or investing in funds.
He advises new investors to identify their goals and choose the type of real estate investment that aligns with them.
Networking and mentorship are highlighted as crucial for busy professionals to learn and succeed in real estate.
Dr. Frangu's personal strategy of leveraging a mentor to fast-track his learning in multifamily investments.
He clarifies that real estate investing is not as time-consuming as some professionals believe, thanks to property management services.
Dr. Frangu's current focus on managing several apartment building deals in Texas, emphasizing active general partner management.
The importance of staying connected with investors and providing regular updates on property performance.
Dr. Frangu's continued practice as a doctor while prioritizing real estate investing.
He invites interested individuals to connect with him through his company's website, Stellar Multifamily.
Dave Deau wraps up the episode by encouraging listeners to subscribe for more content and inviting real estate investors to be featured on the show.
Transcripts
my name is Dave deau founder of money
partner formula.com and this show is
built for everyday Real Estate Investors
who are actively doing deals and looking
to scale using other people's money so
if you're an active real estate investor
and you want to get featured on this
show to talk about your own real estate
and capital raising experiences then
just go to Dave interviews you.com now
let's get rolling with this episode and
remember to subscribe for daily
interview content let me ask you a
question have you ever said to yourself
I would love to invest in real estate
but I'm just too darn busy I don't have
the time for this I I don't have the
bandwidth for it well that excuse is
going to get completely blown out of the
water today because our special guest is
Dr Tor franu who is not only a very very
busy person in his professional life
he's a he's a doctor but he's also a
very exceptionally active real estate
entrepreneur who has built up a very
impressive portfolio I believe of
somewhere close to 5,000 units if I if I
recall correctly and he's not just an LP
or a very passive investor he's an
active investor he's a general partner
he's a syndicator he's finding deals
he's helping to manage properties he's
doing investor relations he's got a lot
on the go so so Dr tutor franku welcome
to the show great to have you here thank
you Dave uh I appreciate the
introduction I hope your uh audience is
going to benefit from our
discussion I I know they will so first
things first I don't want to spend a lot
of time on the backstory because you
have a very interesting one but this we
got to get to the nuts and bolts here
but I do want to know what was it for
you personally that sparked your
interest in real estate in the first
place um well let me give you a little
background I don't want to take too much
time but uh I'm a immigrant I came here
in United States from
Romania after the Communist uh curtain
fell and uh so early early 90s late 80s
early 90s early 90s got it yeah uh and
um you know I I was trying to get my my
foot on the ground here and learn a
little bit of the financial system I had
no idea what's going on I didn't know
what a credit or debit card means um so
I educate myself reading a lot of books
in the beginning and then what made it
out for me in real estate is um I set up
my uh my shop so to speak my my house
around Washington DC and I had a um an
opportunity to uh participate in one of
the I would say the first meetings
Robert kosaki had in Northern
Virginia uh was a webinar was a weekend
webinar and um I went there knowing
anything nothing about real estate um
and kind of open my my mind it was a
completely different approach like you
probably know by now he is well known of
kind of reversing the the whole your
house is not an asset that that kind of
thing yeah exactly and so what so this
would have been like the late 90s by
this time is that correct yes it was
late 90s um I think it was
2000 200 2001 something like that got it
yeah and um you know it kind of opened
my eyes and said you know this is
something that I need to look into and
that's how I started I start playing
Cash Flow game yeah I start networking
with people that were doing that and
little by little you know you you
educate yourself and you start investing
because the the main thing that I
realize is that like he said you need to
start doing things not only read about
them so let let me ask you a question
were did you immigrate to the states
already a doctor did you become a doctor
after you immigrated how did and were
you yeah I finished my medical School in
Romania um so I was technically a doctor
but nobody recognized me here as a
doctor so I had to do all kinds of bunch
of stuff when I came over um I had to
change my Visa to be able to work
legally and yeah um you know finally
found a residency position so I did my
residency in United States um learned
the language you know I mean it was a a
whole new planet for me at that time um
but I had nothing to lose right so it's
a it's a concept that I kept with me
over the years and the mindset that made
me um accomplish what I I accomplished
until now that is beautiful all right
well I love I love the back thank you
for sharing the backstory so what was
the first uh investment property deal
that you
did yes so um I want to have them both
bought a one-bedroom one b um little
house in uh Baltimore
okay and I rented out and I don't know
kind of semif fix it myself um you know
putting all kinds of you know painting
and all this stuff that you need to set
up a house or rental and that was my
first step towards real estate investing
and um at that time I had a little cash
flow over you know each month out of it
I applied exactly what Robert kosaki
phrased in that webinar in that meeting
over the weekend so it was nothing you
know I realized that it's nothing that I
need to in reinvent the wheel here I
just need to find the right people that
do the same thing I wanted to do and
replicate their well-proven recipe yeah
um and connect the with the more people
I can uh in that kind of business uh so
that's what I did this this was my first
house um I pay I pay cash for it I I
didn't even know how to leverage that uh
but it was an interesting start you know
I mean we all start somewhere that's why
I want I want to invite everybody to
kind of open this mind and say how can I
start investing in real estate there's
no rocket science uh this is not a
college degree you need to get or it's
not as tough as it's not as tough as
medical school yeah I mean you know it's
it's a it's an it's a all a mindset game
that that's all it is and the more you
network the more knowledge you have from
some other people or books or podcasts
or whatever realize that at that time
when I started doing this I had there
was no internet there was no Meetup
there were no barely any books I can
read about it um so there was all like
spread of uh worth Bic basically uh who
you know what they did talk to them it
was a person-to-person meeting
that you get to get the knowledge to
start doing this so it's a little you
know a little difficult to start in this
thing nowadays it's like piece of cake I
mean if you want to start you have every
single resource in the world that you
can apply well let let's take a look at
before and now well let's look at the
beginning let's look at now so you
started off with that one-bedroom one
bath house in Baltimore fast forward 20
some years later what does your real
estate portfolio look like today yes um
so right now um I have about uh 5,000
units in multif family apartment
buildings that I'm invested in
um from that probably around 800 of them
um are as a co- uh General partner so
I'm in the team I'm in the active
management of those
buildings and I also have still um a
couple of buildings in Baltimore that I
I manage myself and I you know it's kind
of a nostalgic thing I would say multif
Family Properties you still got that one
bedroom one bath house that you're yeah
no I I I sold all the single family
homes I accumulated over the years there
are probably around 30 of them and kind
of you know convert them to multif
family okay very good so we were talking
a little bit off camera before the
show about your passion for showing
other especially medical professionals
the light when it comes to to real
estate investing why do you think more
doctors and professionals like that High
um High income busy kind of
professionals are not involved in real
estate the reason they're not involved
in real estate is because I think um
they're scared about what they think
real estate investing is they think real
estate investing means oh I have a
tenant that's going to call me in the
middle of the night I need to uh take
care of his toilet and I need to paint
the walls and they don't have the key
and I need to go there in the middle of
the night to do some repairs and all
this stuff and it's not like that um you
know especially now uh you have property
management companies that can take care
of that you can hire you know a handyman
or help to help you with like day-to-day
operations and also there's this
beautiful
passive um Avenue that they have right
now where they can invest in in an asset
not being involved actively in it and
still get u a good cash flow in the
profits at the end so I think most
people need to realize that real estate
investing is not doesn't mean you need
to take a uh Mallet and a nail in your
hands and start building a house or
repair whatever the tenant said you need
to repair it's not like that um it can
be multiple ways it doesn't have to be
like that that's it doesn't have to be
like that um you know there are multiple
Avenues in real estate investing that
you can take and for me what worked I
started in single family homes and I uh
consolidate into multif family apartment
investing which I think it's a great way
to scale the business up and uh compress
the time basically that I have available
in my life to make the most out of my
money and my wealth and my uh Freedom
basically my Financial Freedom wonderful
I I love that
explanation so if somebody is a busy
professional a doctor what have you and
they want to kind of dip their toe into
real estate but they are afraid they're
they're nervous about that what
recommendations would you give to those
kind of people to actually make it
happen to to take that first step
because we because there's just there's
almost too much information out there if
you Google Real Estate you jump on
YouTube you chat GPT it you're going to
be overwhelmed with you know the
opposite of what you and I saw in the
early 2000s where there's hardly
anything out there now it's almost like
there's too much right so that's right
how what would you recommend somebody in
that position do yeah to get started so
I would say for a busy professional um I
would say you need to first of all ask
yourself what exactly you want from real
estate investing do you want cash flow
do you want to park your money and get
an appreciation at the end do you want
tax
advantages uh what what is your primary
why why are you doing thish then second
point would be what do you think you are
more comfortable to put your money in is
it more comfortable to maybe some people
you know uh want to uh Fix and Flip
houses some people want to invest in
short-term rentals and Airbnb their
property and just take advantage of that
Avenue uh some people still buy single
family home and they rent them long term
and they're very happy with that um and
some people go my route where you know
they put their money multif family it's
a scalable concept it's a much uh I
would say easy way to invest because you
have um a much better leverage of a team
to take care of your money is not just
yourself and um some people just do uh
you know funds or you know whatever they
they want to like invest in a fund for
example and you know they uh they don't
have much control uh of what's going on
is like stock market but um you know
it's what you you're comfortable with
and then from that point on you just
have to follow and find people that did
that before
you um there are many successful people
in each branch of real estate investing
you just need to network find the right
people and ask for advice and mentorship
and follow them and see how they do it
it's not a rocket science again you just
need to replicate the system um for
example you know one of the things that
I I did when I and I had experience in
single family homes over the years but
when I thought about multif family I
didn't think I I was very comfortable of
like migrating to that area and I got
myself a mentor uh right away and I
think I it was the best thing I ever did
um I learned a lot in a very short
amount of time um paying him because
that's you know that's what money do
they they U earn time and freedom for
you so I prefer to pay someone who can
tell me in a couple of hours what I need
to do instead of starting to figure out
myself over the years yeah um and that
was probably the biggest investment the
greatest investment I ever did because
your own Financial education is the
primary way you can get in real estate
investing yeah very very very well said
so are you still a practicing
doctor yes I I love to to still uh keep
my hands um busy with my medical
practice ice I I have two groups right
now that I I manage and um I still go
there for um you know a couple of days a
month um and you know I still have my
relationships um I don't want to lose
that part of my life ni but my primary
focus right now is in real estate
investing very interesting so what does
what does your real estate professional
life look like what what do you spend
most of your time doing with your real
estate investing business yes um well
I'm pretty busy right now because I have
about uh about several apartment
building uh deals that I'm I'm managing
um actively um not I'm not talking about
property management or deal General
partner management of getting them
correct up and running got it yes so um
most of them are in Texas um in the in
the Dallas Forth wor Houston area mhm
and I'm very busy with that um I have to
go there for you know side visits uh
keep uh you know weekly meetings for
with property management
companies um keep an eye on financials
um you know continually underwrite the
deals and see what works What expenses
are you know uh keep in touch with the
investors communicating you know almost
every month with them about all this
properties um it's it's a fun game for
me it it's something that I enjoy um
it's very exciting uh things are not
going well all the time because that's
life um but you find solution you you
pivot in different directions based on
the market and um you know it's it's a
it's an interesting
uh game to play I would say
wonderful perfect well time flies when
we're having fun here Dr franku so if
want to connect with you and and find
out more if you only had one place to
send them where would you recommend
people go to connect with you and find
out more about what you're up
to yes I think the best way to connect
with me is through my website um which
is uh um you know the name of my company
it's stellar
multifamily
uh.com and you can email me there you
can contact me there uh I'm also on
social media pretty well easy to find
Stellar multif family um and uh I'd be
happy to you know start talking to
people about different things that they
need to learn and educate themselves
well thank you very much for being on
the show and inspiring all of those busy
professionals who don't think they have
time to get involved in real estate you
have just proven that yes they can I
hope so thank you very much
all right everybody take care and we'll
talk to you on the next episode hey
there I really hope you enjoyed that
episode and as always if you want to
listen to more daily interview content
make sure You' subscribe and if you're
an active real estate investor and
you're doing deals and you'd like to get
featured on the show then just head over
to Dave interviews you.com now at money
partner formula.com we help Real Estate
Investors to create a process for
predictably getting Capital so they can
do more deals without relying on hard
money lenders or the bank
we do this by building them a private
Capital Marketing System now if you want
help tur yourself into a big money
Capital attraction machine then book a
call with our team to see how we can
help just visit money partner
formula.com to find out more all right
take care and we'll see you on the next
interview
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