Manage episode 284497239 series 1090720
Dr. David Phelps owned and managed a private practice dental office for more than 21 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 31 properties that later produced $15,000 monthly net cash flow. Life was good, the sky was the limit –until the dark day that 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 his clinical practice so that he could spend every moment with his daughter. David’s “Plan B” (a portfolio of cash-flow producing real estate assets) gave him the freedom to focus 100% on what mattered most to him. Jenna won the battle with 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. He also combines his professional and personal experiences to illustrate how the tactical and aspirational work together. David’s new book is called What’s Your Next: The Blueprint for Creating Your Freedom Lifestyle, chronicles his story, and provides guidance and a call to action to others who are yearning to experience the Freedom Lifestyle.