Episode 292
E292 Pranay Parikh - Transform Your Life Through Identity and Income Diversification, Live By Your Core Values and Refine Your Strategy for Growth
How do you see and define yourself? A doctor? An engineer? A real estate investor? How about a doctor-artist? Or an engineer-poet-father? Or a real estate investor-podcaster-husband? We are an amalgamation of various aspects of ourselves that when taken together make up our self-identity. We are more than just one person, and diversifying our identity and embracing our different aspects can help us weather life's challenges and make us stronger.
Dr. Pranay Parikh of Ascent Equity Group joins us in this episode to talk about diversifying our identity, not just our finances or investments. Dr. Pranay believes in pursuing other interests apart from our primary career, as it can lead to personal growth and fulfillment. He reflects on his personal journey from challenges in medical school to finding success in an unexpected area - real estate investing. Dr. Pranay also talks about overcoming mental barriers, his company’s efforts to uphold its values and partnerships, and their constant refinement of growth strategies. Listen now and gain a well-rounded perspective on challenges and setbacks and achieving success and fulfillment in both your personal and professional pursuits.
Key Points from This Episode:
Dr. Pranay talks about his backstory, his education, and his early career in medicine.
How did setbacks in his medical career push Dr. Pranay to pursue real estate investing?
Dr. Pranay discusses the types of diversification in a person’s life and why they are crucial to achieving success in one’s career, business, or life in general.
How did income or investment diversification allow Dr. Pranay to protect and grow his assets and finances and help him weather economic downturns?
How did diversifying his identity help Dr. Pranay broaden his knowledge and skills, do more, and achieve more?
What advice would Dr. Pranay give to his younger self given his past experiences?
Dr. Pranay’d advice on being creative in finding ways to add value to your organization as an intrapreneur.
The origin story of Ascent Equity Group
What strategies and structures did Dr. Pranay’s team employ to scale the company’s portfolio?
What is Dr. Pranay’s outlook for Ascent Equity Group’s future plans and growth?
What core beliefs have been critical to Dr. Pranay’s success?
What mental barriers did Pranay have to overcome to achieve high performance in his various endeavors?
Dr. Pranay answers the Rare Air Questionnaire.
Tweetables:
“Diversify your job, your investments, and your identity.”
“There’s no cutting corners. We'll do it the hard way as long as it makes life better.”
“Inside your company, intrapreneurship is a great way to be successful.”
“One of the best skills you can have in life is how to Google things well or how to look up things well.”
“We do things that are outside of our comfort zone and we'll choose the one that's best for our tenants and our investors even if it's more work for ourselves.”
Links Mentioned:
From MD To Entrepreneur Podcast
Elevate Podcast Episode 102 with Seth Godin
Elevate Podcast Episode 156 with Greg McKeown
Elevate Podcast Episode 171 with Dr. Vasu Kakarlapudi
The ONE Thing by Gary Keller and Jay Papasan
Influence: The Psychology of Persuasion by Dr. Robert Cialdini
The Dictionary of Obscure Sorrows by John Koenig
Bird by Bird: Some Instructions on Writing and Life by Anne Lamott
About Dr. Pranay Parikh
Dr. Pranay Parikh is a medical doctor, serial entrepreneur, online course creator, and podcast host. His unconventional journey to medicine helped him learn the skills to excel in entrepreneurship. He’s helped launch a 7-figure online course on passive real estate, buy over $150 million in real estate, and help hundreds of physicians launch their own businesses. He helps doctors invest passively in real estate through the Ascent Equity Group.
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Brought to You By CF Capital
This episode of Elevate is brought to you by CF Capital, a national real estate investment firm. CF Capital’s mission is to provide property investment and asset management solutions to help investors like you maximize their returns by investing in high-value multifamily communities.
If you are looking for risk-adjusted alternative investments in quality apartment communities, and are seeking tax optimized cash flow with appreciation upside without all the hassle of management, you might benefit from learning more about investing alongside our team.
You’re invited to reach out and learn how you can invest with us by visiting cfcapllc.com.
We’re also currently offering a free ebook called The Bottom Line - 10 Ways to Increase Cash Flow in an Apartment Complex. Whether you’re a new or an experienced investor, we’re confident you’ll find massive value in this resource. Get your free copy today at cfcapllc.com.