Episode 33: An Interview with David Phelps

David Phelps began investing in real estate in 1980 while attending Baylor College of Dentistry in Dallas. His first joint venture partner was his father, who invested with David in the first rental property David managed.

David is a firm believer that time is our most important asset. He counsels: “You can’t buy your life back at some future retirement age – there’s no such thing. It’s an illusion that unfortunately escapes too many hard-working people.”

Today, David enjoys the freedom that he created in his own life. He coaches and consults with professional-practice and other business owners to show them how to create freedom, security and peace of mind through the development of true entrepreneurial practices and lifetime passive-income streams found in done-for-you real estate investments.

He has participated in more than 1,000 real estate transactions and has involved direct bank financing only five times – the remaining 99% of the transactions were done strictly with private financing, which, he reminds us, is all about financial friends and relationships.

“Your life is your life; your business is not your life,” he says. “Learn to live life on your own terms and accept nothing less.” David’s life can be celebrated as proof that adversity can open doors to opportunity. Until we are uncomfortable enough in our present situation, he says, change is not likely to happen.