038: Dr. David Phelps on Creating Freedom with Real Estate Investing
From a very young age, we’re taught that in order to earn money, there has to be an exchange of time. To make more, you have to work more. The problem is, there’s only 24hrs in a day, so the earned income model completely limits how much money you can make. Sure, you can level up by making a higher hourly wage or working more hours, but beyond that, you’re stuck. As a result, people will settle for mediocrity. They end up building a lifestyle around what they get paid, rather than building their pay around the lifestyle that they truly want. It’s a trap! One that most people don’t know how to escape. Which leads me to today’s episode of the podcast… I’m speaking with Dr. David Phelps. David worked on the dental practice hamster wheel for over 20 years before being punched in the gut by his daughter’s life-threatening battle with leukemia, epilepsy, and a liver transplant — all before the age of 12. Fortunately, he had a Plan B! While still in dental school, David began investing in real estate by joint-venturing with his father on their first rental property. Three years later, they sold the property and David took his $25,000 capital gain share and leveraged it into 31 properties that produced $15,000 monthly net cash flow. Today, he’s a nationally recognized speaker on creating freedom, building businesses and investing in real estate. And his journey to create passive income and live for what matters most has inspired audiences across the nation. In our conversation, he makes it very clear why he believes the conventional idea of earned income and the “working to live” mindset is completely broken. You’ll hear us talk about all things real estate; how to buy properties that cash-flow on day one, the secret to getting seller financing, how to structure a deal on YOUR terms, and much more! You’ll also learn why the nest egg approach to investing is incredibly flawed, and what you can do to avoid the trap of earned income! Free Gift from Dr. David Phelps Get Dr. David Phelps' FREE Report: Why Now is the Time to Create Cash Flow and Security Through Real Estate. Plus, you’ll also get a video training resource and digital worksheet on How to Calculate Your Freedom Number. To get access to this offer, visit JustinDonald.com/38. Want the Full Show Notes? To get access to the full show notes, including audio, transcripts, and links to all the resources mentioned, visit JustinDonald.com/38 Get the Lifestyle Investor Book! To get access to The Lifestyle Investor: The 10 Commandments of Cashflow Investing for Passive Income and Financial Freedom visit JustinDonald.com/book Rate & Review If you enjoyed today’s episode of The Lifestyle Investor, hit the subscribe button on Apple Podcasts, Spotify, Stitcher, Castbox, Google Podcasts, iHeart Radio, or wherever you listen, so future episodes are automatically downloaded directly to your device. You can also help by providing an honest rating & review. Reviews go a long way in helping us build awareness so that we can impact even more people. THANK YOU! Connect with Justin DonaldFacebookYouTubeInstagramLinkedInTwitter See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.