In this insightful episode, Tom Burns shares his journey from a disillusioned doctor to a successful real estate investor, emphasizing the importance of passive income and leveraging in building wealth. Tom and Joe explore the nuances of real estate investment, the advantages of starting small, and the significance of consistency and persistence in achieving financial goals.

Starting in Real Estate

Tom highlights the viability of starting in the real estate market, regardless of market conditions. He stresses the importance of location, advises focusing on the numbers, and suggests partnering or syndication deals to access larger opportunities.

Partnering with a Competent Sponsor

Tom and Joe discuss the benefits of partnering with a competent sponsor in investing, focusing on trust, building networks, and track record. They emphasize the importance of finding the right partner to leverage skills and time effectively in real estate syndication deals.

Evolution in Real Estate Focus

Tom shares his journey from investing in various projects to simplifying his focus on buying undervalued apartments. He discusses the opportunity to purchase distressed properties at discounted prices and strategies to capitalize on future rent growth and refinancing.

Pursuit of Financial Freedom

Both hosts share an entrepreneurial mindset and discuss the journey to financial freedom. Tom's transition from a doctor to a real estate investor is inspired by the pursuit of passive income and the desire for a fulfilling lifestyle.

Importance of Passive Cashflow

Tom emphasizes the significance of passive cash flow in achieving dreams and spending time with family. He discusses the benefits of real estate investments in providing consistent income and opportunities for growth.

Diversifying Investments

The discussion moves to diversifying investments, with a focus on real estate for passive income and freedom. Both hosts acknowledge the benefits of building a sustainable investment portfolio over time.

Use of Leverage in Real Estate

Tom elaborates on leveraging in real estate investments, sharing examples of property purchases with minimal down payments. He discusses the benefits and risks of leverage and the potential to acquire more properties over time.

Benefits of Real Estate Investment

The hosts conclude by highlighting the enduring benefits of real estate investment, including cash flow, tax advantages, amortization, and property appreciation. They stress the importance of consistency and long-term investment strategies.

Resources from Tom Burns

Keep up with the latest from Tom by joining his newsletter

Connect with Tom directly by emailing him at [email protected]

  In this episode, Tom Burns and Joe Fier provide valuable insights into real estate investing, passive income generation, and the journey to financial freedom. Their discussion underscores the importance of education, networking, and taking action in building a sustainable investment portfolio for long-term success.

Two Other Episodes You Should Check Out

• Retired at 28: Growing Wealth Through Real Estate Investing with Dallas Hileman

• How To Harness Your Visionary Thinking with Justin Breen

Resources From Episode

• Accelerate growth with HubSpot's Sales Hub
• Check out other podcasts on the HubSpot Podcast Network
• Grab a 30-Day Trial of Kartra
• We want to hear from you. Send us the One Thing you want to hear on the show.
• Connect with Joe on LinkedIn and Instagram
• Subscribe to the YouTube Channel
• Contact Joe: [email protected]

Thanks for tuning into this episode of the Hustle & Flowchart Podcast!

If the information in these conversations and interviews have helped you in your business journey, please head over to iTunes (or wherever you listen), subscribe to the show, and leave me an honest review.

Your reviews and feedback will not only help me continue to deliver great, helpful content, but it will also help me reach even more amazing entrepreneurs just like you!