As the premier expert for financial literacy and entrepreneurial success, we are very proud to have Sharon Lechter, entrepreneur, international speaker, best-selling author, mentor and philanthropist host our Women’s Investing Network podcast. She shares her vast experience and knowledge with our audience as she interviews some of the industry’s top authors, entrepreneurs, investors and financial experts.
When it comes to investing in healthcare real estate, no one else creates opportunities quite like Trisha Talbot. Trisha is a healthcare real estate adviser to both healthcare providers, as well as investors in the medical real estate space. Her company Doc Properties, provides the essential link between providers and investors looking to get into this niche asset class: income producing medical properties.
Trisha Talbot’s work, besides being sustainable with great need for development, is mission critical and demand driven. It’s not just development for development’s sake, but an essential service that helps people and benefits our society.
Income Producing Medical Properties Making a Difference in Communities
Growing up with a mother and an aunt who had a residential real estate firm, Trisha was exposed to the industry early on. However, it wasn’t until later when she was in the middle of a career change, that she decided to specialize in commercial real estate. Hired by a developer specializing in developing, owning, managing and leasing medical office buildings, she really enjoyed helping physicians with their professional space and supporting them as they delivered health care. She understood early on the continued need for more and better medical facilities, and as the world has recently adopted models of remote working making a lot of office space redundant, Trisha’s foresight to specialize in this sector has really made a difference. The need for medical facilities for examinations, procedures and surgeries is essential, and is therefore sustainable with critical reasons for development.
The Future of Healthcare Real Estate
Recently, the world has seen a lot of upheaval in the healthcare industry and Sharon continues the discussion, asking what trends Trisha is seeing emerge in medical real estate. Trisha explains that it is better for hospitals and physicians to have non-acute care outside the hospital. The pandemic sped up a lot of plans that were already starting, but further pushed along many hospitals’ needs to focus only on acute care services. This is what hospitals are best designed and built for; it is also what their revenue model is built for. There’s been a lot of activity getting this non-acute care out of the hospitals, and strategically placing it in different locations in order to treat patients. This includes outpatient centers, surgery centers, diagnostic centers, medical office buildings, etc. There has been a shift and we’ve seen hospitals start to put internal medicine family practices, pediatricians, urgent care centers, triage primary care services under their umbrella in convenient community locations where people live. According to Trisha, this trend will continue; if we have a system in place to triage some of the less severe cases and treat them outside the hospital and keep only the most severe cases in the hospital, this would help prevent them from being overrun with patients, which has often been the case in our current pandemic. This model was already starting to happen, but the onset of the pandemic really accelerated its growth.
Sharon asks Trisha another important question on everyone’s mind: how can we as real estate investors get involved and find the right type of opportunities in income producing medical properties? What kind of opportunities are available in this niche asset class? As with any endeavor, it’s important to align yourself with people who know and excel in the space. As the founder and CEO of Doc Properties, Trisha creates opportunities by providing the essential link between medical providers and real estate investors and other industry professionals specifically focused on this asset class, such as architects, general contractors, property managers, asset managers.
Want to learn more? Listen to the full episode of Women’s Investing Network, hosted by Sharon Lechter with special guest Trisha Talbot here!