#46: From $62K to 12 Properties by 30 - with Dr Dan

Steve sits down with Dr Daniel Lamp, a Sydney-based GP and host of the Passive Income Doctors podcast, who built a 12-property portfolio in under a decade on a starting salary of $62,000.  Dr Dan went against the advice of parents, friends and colleagues who told him to buy blue-chip Sydney real estate, and instead bought interstate in Brisbane, Perth, Darwin and regional Queensland before those markets ran.  This episode covers his full portfolio timeline, the markets he chose and why, the mistakes he made early on, and the borrowing power and cash flow lessons that shaped his approach.  Steve and Dr Dan also get into why doctors tend to make poor property decisions, the case for rent-vesting, when to sell and when to hold, and how AI and telehealth could reshape both the medical profession and the property market. In this episode, Steve and Dr Dan discuss: - Dr Dan's background growing up in Western Sydney, saving $100,000 through university, and funding his first deposit on a $62,000 intern salary. - Why doctors tend to make poor property decisions, from being time-poor and overconfident to getting funnelled into off-the-plan apartments for tax benefits. - His first Brisbane purchase in 2017-2018 for $570,000, which nearly doubled to $1.1 million, while the equivalent Sydney unit only reached $800,000. - The mistakes he made early on (land-and-build headaches, an emotional owner-occupier purchase) and why Steve believes early setbacks actually make better investors. - Expanding interstate into Perth in 2023 and Darwin in late 2024, buying into flat markets with strong yields before they ran, and why he now regrets not going even more affordable. - Selling Brisbane properties to restructure into a trust, free up borrowing power and redeploy capital into the next cycle, and why the old "never sell" advice no longer holds. - The rent-vesting case for junior doctors, and why buying a home too early in training often costs more in stamp duty and opportunity cost than it returns. - Borrowing power management: the LMI waiver for medical professionals, why owner-occupier debt hurts more than investment debt, and knowing when to change brokers and accountants as a portfolio scales. - Why residential beats commercial early in the accumulation phase, and Steve's view on where commercial is heading (industrial, large land blocks, farmland). - GP practice ownership economics, the telehealth and AI discussion, and Dr Dan's $300,000 passive income target to eventually step back from full-time clinical work. HOSTED BY: Steve Palise Ph: 0403 878 497 Email: [steve@paliseproperty.com](mailto:steve@paliseproperty.com) LinkedIn: https://au.linkedin.com/in/steve-palise CONNECT WITH Dr Dan LinkedIn: https://au.linkedin.com/in/daniellamp  YouTube: https://www.youtube.com/@passiveincomedoctor  Facebook: https://www.facebook.com/groups/doctorspropertynetwork/  Instagram: https://www.instagram.com/passiveincomedoctors/  Resources Get FREE access to the Commercial Property Institute course -  CLICK HERE Get FREE access to the Residential Property Institute course - CLICK HERE Get your FREE copy of Commercial Property Investing Explained Simply - Use discount code PODCAST CLICK HERE Get your FREE Commercial Property Paydown Calculator CLICK HERE  Follow Palise Property on FACEBOOK for Free Tips Tricks & Insights CLICK HERE