What Real Estate Investors Can Learn From a $150M Healthcare Fraud | Mashiyat Rashid
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The biggest lesson I've learned is being forthcoming and transparent with your loved ones, being forthcoming and transparent with your business partners.
Mm.
Now listen, th- this is documented. I'm not s- saying this. The government, the federal government wrote it on my behalf. That I built a sprawling network. Now how does someone who's not a physician, who's not a m- medical professional build a sprawling network of medical professionals? And that's how you do it, you build a relationship. Did I do it honestly? Was the initial start process good? Were my intentions pure? Absolutely. Did I take the scalability process and start bending the rules? Absolutely. So both things can be true at the same time. What I value most now is being honest-
Mm
... not just personally, but in the business world.
Welcome to The Real Estate Pros Show, where we interview real estate investing professionals from coast to coast, as well as the service providers that serve the real estate investing industry. Our goal is simple, share what's working now to help you improve and scale your business to the next level and meet the pros that can help you get there. Real Estate Pros is powered by Investor Fuel, America's leader in helping real estate investors and professionals build the business you need to live the life you've always dreamed of. Let's start today's show. Hello, everyone. Welcome to The Real Estate Pros Podcast. I am your host, Que Edmonds, and I am excited to be here today. I'm excited about my guest. Y'all know what excites me the most is the fact when we get to glean from other people's experience. I believe we all could literally doing the same thing. Y'all probably heard me say this before. We could be doing the same thing, but we're still gonna do it differently because we are different. Our perspectives are differently, our stories are different, our, our, um, uh, the way we process is different. So everybody has a story to tell, and we're gonna learn from everybody's stories. But today, I have somebody special here today who has a story to tell. I can't wait for us to dive into it. He said I can call him Maj, so I'm gonna call him Maj. If he wanna give you the whole name, I'll leave that up to him, but this is my friend Maj. Maj, how are you doing today, sir?
Good, man. How you doing, Quentin?
Oh man, sir, I'm doing good. Thank you for being here.
Yeah.
Um, I'ma probably reiterate this again, I said it to you before. Thank you for your time, man. I think time is our most precious commodity, so thank you, man. Thank you for lending us some of your time. And Maj, sir, I would really like to dive in. So I would love for you to tell the people what's your main focus these days. If you don't mind, give us a little origin story, kinda how you got into this space that you're in. And people always seem to like to know where people are geographically. So where you... If you wanna tell people where you are in the world, people, they love to connect the dots and stuff like that. So Maj, sir, I turn the floor over to you. You have the reins, my friend.
Yep. Quentin, my name is Mashiyat Rashid, and I was a former CEO of a sprawling healthcare network called
2Episode notes
Mashiyat Rashid, former CEO of the Tri-County Wellness healthcare network, had no medical background, but built a sprawling management services organization (MSO) that ran for a decade before he was indicted in 2017 in one of the largest healthcare fraud cases in U.S. history. He tells host Quentin Edmonds how profit margins 300% above the industry standard led him to justify and normalize the fraud, what losing everything taught him about humility, gratitude and responsibility, and why real estate investors who ask him about MSOs hear one message: build it compliantly the first time.
Read the full episode notes: https://investorfuel.com/real-estate-pros-show/what-real-estate-investors-can-learn-from-a-150m-healthcare-fraud-mashiyat-rashid/
Chapters
00:00 The Biggest Lesson: Transparency
01:15 Meet Mashiyat Rashid
02:46 Building a Massive Healthcare Network
04:31 The Fraud Case That Changed Everything
07:00 Humility, Gratitude & Responsibility
11:48 The Healthcare Opportunity Most People Miss
13:25 Build It Right the First Time
14:40 Turning Failure Into a Cautionary Story
16:31 Business Relationships Require Honesty
20:31 When Work Ethic Becomes Compromised
22:15 Final Lessons for Entrepreneurs
22:26 How to Connect With Mashiyat
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