How 2 Physicians Built Retirement Wealth in Real Estate Through a 1031 Exchange
Brother and sister Hassan and Shara (not their real names) came to America as children of immigrants. Their family settled in a suburb of Detroit. Their parents struggled to provide the necessities of life, with their mother staying at home, as was the tradition, and their father working as a taxi driver in the city.
Their family was poor by most measures, but Hassan and Shara never went hungry. Back in their home country, things were far worse. Food and work were scarce, and there was the constant threat of violence, dislocation and disease. Coming to America meant the chance of the American Dream known around the world and the chance to live a better life.
Hassan and Shara’s parents stressed the importance of a good education. They knew it was required for their children to succeed in their new home country. Both siblings, over time, became physicians. Hassan watched many of his colleagues earning large incomes frittering their wealth away with expensive cars, expensive vacations and extravagant homes. He noticed that many of his friends were spending almost everything they earned on a
