This episode is sponsored by Lightstone DIRECT. Lightstone DIRECT invites you to partner with a $12B AUM real estate institution as you grow your portfolio. Access the same single-asset multifamily and industrial deals Lightstone pursues with its own capital – Lightstone co-invests a minimum of 20% in each deal alongside individual investors like you. You’re an institution. Time to invest like one.
_____________________________________
What if your retirement plan didn’t rely on stock market volatility, but on institutional-grade real estate with skin in the game?
In this empowering episode, Dr. Lee Sharma sits down with Jonathan Spitz to break down private real estate investing for physicians, from fresh-out-of-residency tax strategies to legacy-building passive income. Jonathan shares his core principle (“long-term clarity creates long-term power”), why physicians often start with curiosity but no plan, and how to ask the right questions: direct vs. passive ownership? Manager track record? Leverage levels? He reveals red flags like excessive debt or inexperienced teams, explains Lightstone’s vertically integrated model (40 years, $12B AUM, in-house everything), and proves that with high-conviction deals where they commit 20% of their own capital first, physicians can build wealth without the daily grind.
If you’ve ever thought “I want more, but where do I start?” This is your roadmap to investing like a family office, safely, transparently, and aligned.
Three Actionable Takeaways :
- Decide if you want direct ownership (hands-on rentals) or passive investing (outsourcing to pros like Lightstone): For busy physicians, passive often wins. Vet managers by asking: How long in business? Track record? Skin in the game? Alignment ensures they treat your money like their own for long-term stability.
- Spot red flags before investing: Excessive leverage like 85% debt magnifies risks in volatile markets. Check track record for losses in good times, team longevity (avoid 2-year firms), and aggressive assumptions promising 25% returns. Prioritize wealth preservation over high-risk highs.
- Build clarity by defining goals: Income now or growth later? Liquidity needs? Risk tolerance? Start small with education—podcasts, white papers, consultations. Meet managers where you are; if they rush or lack access and transparency, walk away. Long-term power comes from informed, patient decisions.
About the Show:
Behind every procedure, every patient encounter, lies an untold story of conflict and negotiation. Scalpel and Sword, hosted by Dr. Lee Sharma—physician, mediator, and guide—invites listeners into the unseen battles and breakthroughs of modern medicine. With real conversations, human stories, and practical tools, this podcast empowers physicians to reclaim their voices, sharpen their skills, and wield their healing power with both precision and purpose.
About the Guest:
Jonathan Spitz is Head of Capital Formation at Lightstone Direct, where he helps investors access institutional-grade commercial real estate. With over a decade in private real estate, he’s advised physicians, family offices, and high-net-worth individuals on long-term strategies, risk management, and wealth building. His guiding principle: Long-term clarity creates long-term power. Jonathan focuses on simplifying real estate for busy professionals, emphasizing alignment, education, and passive income for legacies beyond medicine.
Connect with Jonathan Spitz:
· Website: https://lightstonedirect.com
lightstonegroup.com
· Email: jspitz@lightstonedirect.com
About the Host:
Dr. Lee Sharma is a gynecologist based in Auburn, AL, with over 30 years of clinical experience. She holds a Master’s in Conflict Resolution and is passionate about helping colleagues navigate workplace challenges and thrive through open conversations and practical tools.
- Connect with Dr. Lee Sharma:
📧 Email: scalpelandsword@gmail.com
🌐 Website: East Alabama Health - Dr. Sharma
The Scalpel and Sword Podcast is for informational purposes only and does not constitute medical, legal, or professional advice. Always consult a qualified professional regarding your specific situation.
Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.