[Classic Replay] The Meaning of Financial Freedom | REI Show - Hard Money for Real Estate Investors

The Meaning of Financial Freedom | REI Show - Hard Money for Real Estate Investors

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This week let us look back to when Dr. David Phelps joined Bill Fairman, Wendy Sweet, and Jonathan Davis and talked about financial freedom.

What does it mean to be financially free? Can financial freedom change?

David Phelps owned and managed a private practice dental office for over twenty-one years. While still in dental school, he began his investment in real estate by joint-venturing with his father on their first rental property in 1980.

Three years later, they sold the property and David took his $25,000 capital gain share and leveraged it into thirty-one properties that later produced $15,000 monthly net cash flow.

Life was good, the sky was the limit, until the dark day when David’s daughter, Jenna, was diagnosed with Leukemia. In the midst of cancer treatments, epilepsy, and ultimately a liver transplant for Jenna, David made the crucial decision to leave clinical practice so that he could spend every moment with his daughter.

David’s “PlanB” (a portfolio of cash-flow-producing real estate assets) gave him the freedom to focus 100% on what mattered most. Jenna won the battle with the disease, and David still enjoys the Freedom to cherish every moment with her that he can.

Today, David is a nationally recognized speaker on creating Freedom, building real businesses, and investing in real estate. David helps other logical, rational professionals become dreamers, then strategically manifest those dreams into Freedom.

Under David’s leadership, the Freedom Founders Mastermind Community grows exponentially, year by year, providing the pathway to Freedom for many professional practice owners.

Timestamps:
0:01 - Introduction: What Does Financial Freedom Mean To You?
1:08 - https://www.CarolinaHardMoney.com
1:23 - Wednesday with Wendy: https://meetings.hubspot.com/wendy166/wednesdays-with-wendy
2:25 - First Month In 17 Months - Homes Are Selling Under Asking Price
4:21 - Today’s guest: David Phelps
4:56 - The Meaning of Financial Freedom
7:21 - The Mindset Of Not Knowing What Is Enough
8:00 - Fear Of Missing Out
10:15 - How To Build Financial Freedom
14:37 - Do Something Different With Your 401K
16:29 - As Inflation Rates Changed So Does Your Financial Number
17:58 - Property Holdings vs. Passive Investing
21:13 - Your Network Is Your Networth
23:14 - David’s Advice For New RE Investors: Get A Mentor and Get Started!
25:29 - David’s New Book: “Inflation: The Silent Retirement Killer” - https://www.amazon.com/David-Phelps-DDS/e/B00RPCHD42
26:32 - David’s Othe Books: “ Own Your Freedom” & “The Apprentice Model” - https://www.amazon.com/David-Phelps-DDS/e/B00RPCHD42
Connect with David Phelps: https://www.FreedomFounders.com
31:11 - Question of the Week: What Is Your Financial Focus?
31:55 - Carolina Capital Management Fund & Loan Programs - https://www.CarolinaHardMoney.com

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