Why Doctors Don’t Get Rich - Tom Burns

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Many people assume that becoming a doctor automatically leads to wealth, but our guest, Tom Burns, has a different perspective.

Tom Burns is a principal at a private equity real estate firm in Austin, TX, a physician for the US Ski Team, and author of the best-selling book, Why Doctors Don’t Get Rich. He has developed or acquired real estate locally and internationally for over 25 years. He’s a sought-after speaker and mentor and is frequently featured in nationally circulated print articles and popular real estate-oriented podcasts.

Tom believes that real estate is a better avenue for creating wealth. He has been financially independent for a decade. He is the founder of the Rich Life Mastermind, and his mission is to help people create financial independence.

In this episode, Tom discusses his journey from a doctor to a successful real estate investor, and how he came to realize that the traditional path to wealth may not be the best for everyone. Tom breaks down the advantages of real estate investing, including the ability to create passive income and the potential for long-term appreciation. He also shares some common misconceptions about real estate investing and provides tips for getting started. If you're interested in building wealth outside of the typical career paths, this episode is a must-listen.

In this episode, we explore:

00:45 – Guest Introduction & Background: Tom Burns

07:55 – If You’re Trading Your Time for Money, You’re Just Not Really Gonna Get Rich

11:01 – Being in the Right Place and Right Time

14:36 – Department Development Right in the Heart of the Great Financial Crisis

17:50 – Some Steps People Can Do to Get Started in Real Estate

21:31 – Being Able to Transition Lives

24:46 – Entrepreneurs Are Generalists and Specialists Are Specialists

29:48 – There’s Always a Deal

31:00 – Closing

Connecting with the Guest:

Book: Why Doctors Don't Get Rich

LinkedIn: https://www.linkedin.com/in/tom-burns-9744304/

#doctors #investmentrealestate #passiveincomeinvesting