Dr. David Phelps has done in his career, what a lot of people are doing — pivoting. He used to be a practicing dentist, with his own private practice for 21 years, but even while he was in college, he had an entrepreneurial mindset. After years of being stuck in the grind, he has now moved in a different direction, to pursue his fortune in the real estate market. Tune in to hear David’s advice on when you should pivot, and how to get yourself on the road to the freedom you desire.

 

Key Takeaways:

[:21] John introduces his guest for this episode — Dr. David Phelps.

[1:10] David shares a little about his story.

[4:07] David's turning point was when his child became ill. John has the same story.

[5:24] When David made that shift in his career, he already had some experience dealing with real estate.

[7:17] Dentists make a lot of money, but after a while, many of them don't love what they're doing anymore.

[11:24] What does David mean by "lifestyle creep"?

[14:06] There's profound unhappiness within objectively successful people, which feeds the unhappiness. David helps people with that.

[16:25] It's a shame that nobody shows doctors the phases of pivoting that they should be doing!

[17:50] This issue is something that affects entrepreneurs across a variety of industries, not just doctors!

[19:30] David has managed to solve this problem with his organization, Freedom Founders. How does David help people get more freedom in their lives?

[22:55] Let's talk about real estate. What's wrong with most real estate sales pitches? What does David do differently?

[26:25] Investing can be a business, but it is a full-time business. It is, however, possible to get into business without running it like a business.

[30:21] Next week, tune in to hear Tom Wheelright, a CPA specializing in real estate investing.

[34:17] David mentioned the idea of best geography. It's actually not the best idea to invest where you know — David elaborates.

[40:10] For more information, check out David's website, Freedom Founders.

[41:33] What is David's unique superpower?

[42:23] What apps and technology is David using?

[45:37] David may not have started in this industry, but he has gotten very good at it, and has a great network of vendors in the real estate industry.

[47:01] Freedom Founders is like an aggregator for vendors, so you can be sure that the people you're working with, are the kind of people you want to be working with.

 

Mentioned in This Episode:

Financial Gravity

The Financial Gravity Podcast with John Pollock

Freedom Founders

LastPass

Google Drive

Dropbox

Voxer

Zoom