Welcome to the Real Estate Investing Mastery podcast. Please leave a review of our show wherever you listen to it. Also, please visit my website. You can listen to and get links from shows dating back to 2011.
We have a special guest today, David Phelps. David has a company called Freedom Founders and coaches a lot of busy people.
When he was in college, David was preparing for dental school. He realized he was going to make a good income, so thought he’d better learn about investments. His investment studies led him to realize how solid real estate investing can be.
David had a dental practice for 20 years, doing real estate deals all the while. He sold the practice in 2004… mostly in order to gain freedom of time.
After fixing snags with the sale of his business, he started coaching doctors and dentists about real estate investing and about how to run their practices efficiently. The money for investing can come from a humming medical or dental practice.
David advises his students to network and meet other investors, then take a piece of deals. No need for them to flip houses or manage rentals. Lend money to the right people for the right deals. No need for these professionals to leave their day jobs.
A turnkey provider is another avenue for David’s students. Property management is a critical component, and they have to be absolutely certain what the turnkey provider is offering.
Right now, market rumors are pointing to a real estate downturn beginning in California and New York. Not all markets are the same, but investors should stay [carefully] invested even in down times. As long as you’re not overextended credit-wise, you should be fine.
“Don’t give up on your dreams. Be focused, be intentional and be clear about what your dream looks like.”
Listen and learn…
- When determining ROI, are you factoring in cost of your time
- Check out investors’ lifestyles, not their balance sheets
- Why single family properties are tops
- Buy for cash flow, not appreciation in market downturn
Mentioned in this episode:
- Joe’s podcasts on iTunes: Real Estate Investing Mastery Podcast
- Podcast Hotline: 636.255.8815
- Joe’s Coaching Program: Joe McCall Coaching
- David’s business: Freedom Founders
- David on Facebook: David Phelps
What are you thinking?
First off, we really love feedback, so please click here to give us a quick review in iTunes! Got any thoughts on this episode? We’d love to hear ’em too. Talk to us in the comments below.
Enjoy this podcast? Share the love!