Full-Time Doctor Invests in Real Estate, Avoids Capital Gains Tax

UPDATE: Full-time psychiatrist Nicole Shirvani is making headlines as she leverages real estate investments to achieve financial independence while avoiding significant tax liabilities. Through a strategic 1031 exchange, Shirvani has successfully scaled her portfolio and secured her family’s financial future.

In a bold move, Shirvani sold her Oregon duplex in 2022 after accepting a new position in Florida. By utilizing the 1031 exchange, she deferred capital gains taxes on her sale, a crucial step for savvy investors looking to maximize their returns. “You don’t want to sell a house, not be able to find suitable properties, and be stuck,” she cautioned, highlighting the urgency and complexity of the exchange process.

The duplex, which Shirvani purchased in 2018, generated a remarkable cash-on-cash return of between 15% and 20%. With one unit rented to a traveling nurse and the other upgraded for new tenants, her investment not only provided monthly income but also appreciation over time.

Shirvani’s success story is a beacon for both investors and professionals. “It’s allowed me to save more money, be able to travel, and put money toward my daughter’s future,” she explained. The impact of her real estate strategy is profound, allowing her to enhance her savings while planning for the future.

After selling her duplex, Shirvani quickly identified two replacement properties: a beachside condo and a single-family home in Florida. “The market was still fairly busy,” she noted, describing the pressure of the tight timeline inherent to 1031 exchanges. Investors must identify potential properties within 45 days and close on them within 180 days to maintain the tax-deferral benefit.

With her portfolio now including additional properties, such as two short-term rentals in the Shenandoah Valley and a triplex in Lakeland, Shirvani remains focused on growth. She plans to continue using the 1031 exchange strategy, ensuring her investments contribute to her long-term financial goals.

The implications of Shirvani’s journey extend beyond personal finance. Her approach serves as a roadmap for others in the medical field seeking to navigate the complexities of investment while managing demanding careers. As she balances her responsibilities as a psychiatrist and an investor, her story resonates with the urgent need for financial literacy and strategic planning in today’s economy.

This developing narrative underscores the importance of innovative financial strategies, especially for professionals who seek to build wealth without compromising their current careers. As Shirvani continues to scale her portfolio, her experience could inspire many to explore real estate as a viable path to financial independence.

Stay tuned for more updates on this compelling story as Shirvani charts her course in the real estate market. Her journey is not just about numbers; it’s about securing a stable future and setting an example for the next generation.