Rajinder Singh Dhot is the director of R Cubed Investments Ltd. He studied dentistry at Leeds University and graduated in 2010. He currently practises in Shipley in a predominantly NHS practice.
What motivated you to learn more about investing in property?
RSD: I see property as a source of passive income. By that I mean earning money even when not physically at work. Some family members have houses that are rented out, as well as a number of friends, so I thought it would be a good idea. I know it isn't easy and it takes a while to see any income, but I’m not afraid of hard work. The addition of being able to ask advice from more experienced friends and family is always useful.
Initially, when I attended the Dental Property Club’s ‘Creating a Financial Freedom Plan’ course presented by Harry Singh, I was at a bit of crossroads in terms of where I wanted my career to go. Did I want to spend a considerable sum furthering my dental education and perhaps specialising, or did I want to do something with my savings beyond dentistry? I chose the latter option. I still wanted to practise as a dentist, but I needed to find a happy medium where I wasn’t relying on dentistry as my only source of income.
How do you see it fitting in with your dentistry?
RSD: Since attending Harry Singh's three day Advanced Property Workshop I have dropped a day from my clinical week. This has allowed me some free time during the working week, which is essential for networking and attending meetings with people in the property trade.
Even though I’ve dropped a day, my income hasn't suffered very much as I have a very busy patient list and they seem motivated to see me. I feel that as my property business grows I will drop a further day with the aim in the next few years of not having to rely on my dentistry income at all.
What inspired you to attend the three day Advanced Property Workshop as opposed to any other course out there?
RSD: I chose to go on the advanced course with Harry for a number of reasons. I'd heard of various property courses and initially didn't think I would find them of any use. However, after attending Harry’s ‘Creating a Financial Freedom Plan’ course I realised I wasn't the property expert I thought I was! In addition to attending the ‘Creating a Financial Freedom Plan’ day I had been on one of Harry's facial aesthetics courses and knew how well he could teach and how he approached the learning aspects. The final, and probably most important, reason is the fact that Harry was a wet fingered dentist and he made a change. It's what I feel like I need to do and he understands that perfectly.
What did you learn?
RSD: I couldn't begin to relay what I’ve learned from Harry; it’s far too expansive. Suffice to say that it encompasses much more than anyone could possibly imagine. The information he shares goes into the absolute minutiae: what to say to people, neuro linguistic programming, how to plan for all eventualities, etc. The techniques for property purchasing are all fully covered and are very different to what most people probably imagine. It's not just about calling an estate agent, viewing a property and making an offer. That is fine for many people and it can work very well. However, you don't need a course to tell you that. What Harry's three day course covers is all the other ways of purchasing residential property and – believe me – there are a lot!
How do feel about your experiences on the workshop?
RSD: The detail and explanations were excellent, as are the contacts Harry gave out to help us with contracts, solicitors, and so on. Plus, the after course support is perfect. All I have to do is email Harry and he’ll reply in kind or call me back to discuss any questions I have. My friend who attended the course with me is not at all related to dentistry and he found everything just as useful. Even though the course is run by the Dental Property Club it isn’t just for dentists – it would work for anyone.
How have you used what you learned to expand your property portfolio?
RSD: Given my circumstances, it wasn't as straightforward as it could have been. I had sufficient savings for a couple of small deposits; however, as I was not a home owner the lending market was much more complicated. Lenders aren't a fan of non-homeowners buying to invest. As a result I found it very difficult to get a decent mortgage. So I’ve recently just completed on my own home, which will give me better a chance of securing buy-to-let mortgages. It also gave me the experience of dealing with estate agents, mortgage brokers, lenders and solicitors with some freedom. The purchasing techniques Harry instructs are often time sensitive so at least I’ve had the experience of buying a house and I am in a better position to buy more now.
The course contains a good amount of detail on setting up, networking and, for want of a better word, homework. I have done all of that, so now I feel very confident about my future property purchases and can implement the strategies at any time (and will do so soon). With one purchase under my belt it won’t be long before I buy more.
What advice would you offer other dentists considering expanding their business dealings into property?
RSD: If anyone is thinking about it, I’d say do it. It can be daunting to someone with little first hand experience but it’s nothing compared to dentistry! Harry's course was perfect for me, but it may not be suitable for everyone. However, even if the techniques he implements aren't feasible for everyone, rest assured the knowledge you can tap into with Harry is enough. The information learned and his experience can be applied to all forms of property purchasing.
Dentists spend a lot of time and money learning how to improve their clinical skills – and so they should. This course, however, will help improve their skills outside of dentistry and will earn them extra income in the same way that a dental course can.
What's next for you in terms of property investment?
RSD: I'm new to the property world but it is something that I will pursue with a passion. Ideally I would like to have a portfolio of properties, including residential and commercial. All the while I’m still practising as a dentist but it’s nice to have something else you enjoy doing that will also give you extra income.
To discover more about the three day Advanced Property Workshop and other courses offered by the Dental Property Club that can help you achieve a work/life balance without sacrificing your income, simply visit www.dentalpropertyclub.co.uk, email harry@dentalpropertyclub.co.ukor call 020 3322 6969. In addition, visit the website to download Dr Harry Singh’s ‘10 secrets to successful property investing for busy dentists’ free of charge.