Four years ago, Cherry Chen, M.D. began her syndication journey. She chose this investment route not only to diversify her portfolio but also because she had reached a point where she wanted to stop trading her time for money. Soon, her syndication ‘side-hustle’ became a well-known fact in the physician’s breakroom and eventually led Cherry to create her online platform, The Real Estate Physician. This platform caters to the niche Cherry knows all too well –physicians!
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Along with taking us through the journey of creating her online platform for physicians, Cherry also talks about the importance of having a niche. Being a business of relationships, it is so important to speak people’s language when it comes to syndication and understanding your niche allows you to build trust and rapport organically. Cherry encourages everyone to find their niche, even if they think they may not have one. She also shares some of the practicalities of building your own platform, like gaining credibility and the different challenges that could cross your path. Despite any potential obstacles that may lie ahead, it is possible for you, just like Cherry, to build your own platform and reach other like-minded potential syndicators in your very own niche!
Key Points From This Episode:
- What motivated Cherry to start The Real Estate Physician last year.The Real Estate Physician platform allows Cherry to share information with many physicians.
- It is important to tell people you are involved in syndication so they will invest with you.
- Even if we don’t know it, we all have a close network that we can provide value to.
- Before Cherry had an online platform, she found organic ways to mention syndication at work.
- Understanding your niche is crucial because real estate investing is a people’s business.
- Art and science: the two universally applicable components of real estate investing.
- Cherry has built her credibility by investing in multiple syndications herself.
- How podcasts have helped Cherry grow and expand her investor network.
- Niches do not only have to be related to your career – they can be about family, hobbies, etc.
- For Cherry, there have been different difficulties at each phase of the syndication journey.
- There are always bad deals, even when the market is doing well.
- What the process entails after someone signs up on The Real Estate Physician website.
- Don’t take how much investors know for granted and always provide explanatory information.
[bctt tweet=”It’s not about the deal per se. It always comes back to the person. — Cherry Chen” username=”whitney_sewell”]
Links Mentioned in Today’s Episode:
About Cherry Chen
Cherry Chen received her MD at Texas A&M College of Medicine with honors and completed her training at Oregon Health & Science University. She is an Internal Medicine physician in the Dallas-Fort Worth area and has experience with commercial real estate syndications across multifamily, self-storage, and manufactured home parks as a limited passive investor. She also has experience raising private equity capital through The Real Estate Physician. Dr. Chen founded The Real Estate Physician to empower her physician colleagues in commercial real estate investments. It is a resource she wished she had when she was beginning her real estate investment journey. It now provides value to over 400+ physician investors and continues to grow!
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