<figure id="attachment_394280" aria-describedby="caption-attachment-394280" style="width: 1999px" class="wp-caption aligncenter"><a href="#" data-ident_hash="bd9de1be"><img src="https://res.cloudinary.com/fridaydigital/image/private/t_article_image/wpmedia/2024/10/3fdc5385cf021f74f486871ea660cc82.jpg" alt=""></a><figcaption id="caption-attachment-394280" class="wp-caption-text">Many doctors fail in their real estate investments (Photo is an image / Photo Library)</figcaption></figure>
<h2> Why are they so smart? Why do unscrupulous real estate agents target doctors?</h2>
<p> In April 2012, reform of the way doctors work was implemented, and &#8220;part-time work&#8221; as a part-time doctor at a medical institution, which had been a gold mine for working doctors, was restricted.</p>
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<p> According to &#8220;m3.com,&#8221; one of Japan&#8217;s largest websites dedicated to medical professionals, this has resulted in a decrease in income for about 30% of doctors. An increasing number of working doctors are turning to investments such as stocks and real estate in search of income like before.</p>
<p> Some physicians are in such a situation, but some of them have failed in their investments and are now struggling to pay back their debts. Why are these doctors, who are supposed to be so smart, in such a predicament? When we asked Mr. T, an internist living in Tokyo, he gave us a surprising answer.</p>
<p><span class="strongInContent"> Most of the investment opportunities that doctors receive are in real estate, but many of the real estate investment properties for doctors have values that are far off the market. I myself was almost forced to buy a property worth 8 million yen for 15 million yen.</span></p>
<p><span class="strongInContent"> Last September, the Tokyo District Court heard a case in which a real estate investment for doctors was sold for 10.8 million yen for a property worth 6 million yen. Many doctors are naive, and the number of malicious real estate companies targeting them is increasing.</span></p>
<p> Real estate companies targeting doctors are said to solicit them with claims such as &#8220;tax-saving effect on large income. There are a wide variety of methods, and some malicious companies are reportedly blending into the booths at doctors&#8217; conferences and selling to every single attendee.</p>
<p> However, if one does a little research, it is easy to see that the prices of the properties being offered are 1.5 to 2 times the market price. Mr. T. says, &#8220;As a fellow doctor, I am ashamed to say this, but I am also ashamed of .</p>
<p><span class="strongInContent"> Doctors are called &#8216;Sensei&#8217; from the time they pass the national examination and become residents. It is a fact that doctors are often pampered at blind dates and reunions simply because they are doctors. Perhaps because of this, many people are no longer able to ask others for advice.</span></p>
<p><span class="strongInContent"> Even though they lack any money literacy, they are deceived by sweet words such as &#8220;unearned income,&#8221; &#8220;insurance,&#8221; and &#8220;tax saving,&#8221; and their pride prevents them from asking others for advice. Even after purchasing the property, they often get their hands on it as soon as their pride is tickled, saying, &#8220;Mr. 00 has four rooms. From the real estate company&#8217;s point of view, they must be easy prey.</span></p>
<p> Mr. T introduced the case of Mr. X, who was seduced by a real estate agent targeting doctors and purchased multiple properties, but was unable to sell them and ended up going bankrupt.</p>
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<div data-friday-nextpage-lead=" He introduced the case of a doctor who actually went bankrupt with a real estate agent!"></div>
<h2>Why Doctors Are &#8220;Ruined&#8221; by Real Estate Investments</h2>
<p> Mr. X is a man in his 40s, a graduate of a private university in the Tokyo metropolitan area and an internist. While the average annual income of an internist is said to be 12 million yen, his annual income had reached a ceiling at around 18 million yen, despite his diligence in &#8220;part-time&#8221; work such as giving lectures and working part-time. He could not increase his work any further, partly due to the reform of the way doctors work.</p>
<p> Mr. X was sending his three children to a private integrated elementary and junior high school, which required an annual tuition of 6 million yen. When Mr. X thought about sending his children to college, he became concerned about his annual income of 18 million yen, so he decided to invest in real estate.</p>
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<p> He contacted a real estate company and was approached by a salesman who said, &#8220;If you buy a property with a loan and use the monthly rent as payment, your tax return will be easier and you will have insurance in case of an emergency.</p>
<p> In the first year, he received a tax deduction of 180,000 yen on his tax return, and in the second year he received only 80,000 yen. Mr. X felt that this was not effective, and questioned the salesman about the different story.</p>
<p> However, the salesman, seeing this situation, advised him that he could save taxes again if he purchased another property this year. Mr. X was skeptical, but he was encouraged by the salesman, who said, &#8220;Dr. Z at the same hospital has bought four properties,&#8221; and he bought more properties.</p>
<p> Once that happened, he could not repay the loan with just his income from rent and his income as a doctor. The properties they purchased were much more expensive than the market price, and they could not sell them. They were forced to go bankrupt because it would take a very long time to file a lawsuit against them for being cheated.</p>
<p> This type of investment solicitation targeting naive doctors is increasing. The desire for more income is understandable, but doctors need to remember the role they are expected to play.</p>
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 Internist TT

 Doctors are generally considered to be well paid. However, due to reforms in the way they work, they are now restricted from working part-time. This may be the reason why there is no end to the number of doctors who fail to invest in real estate.

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