Tom Burns is an entrepreneur and an orthopedic surgeon in Austin, Texas. He is currently a physician for the United States Ski Team and travels worldwide with them. He has over 25 years of real estate experience with multiple asset types. In addition to co-founding and managing a free-standing full-service hospital, he has acquired and developed $400 million of real estate locally and internationally. He is also the author of Why Doctors Don’t Get Rich.
Tyler and Tom discussed why doctors (and many high-income earners) don’t get rich, Tom’s path to passive income, what it takes to be wealthy-minded, HUD loans and more. Highlights include:- Tom’s trajectory of learning and pursuing real estate investing while working as a physician
- Tom’s experience of buying the first-ever purchased Rich Dad, Poor Dad book, and his meeting with Robert Kiyosaki
- Why doctors don’t get rich trading time for money
- The simple, yet hard-to-execute traits of the wealthy-minded
- Acknowledging that off-market deals aren’t necessarily great deals
- The nuances, benefits and downsides of FHA HUD loans, including 223(f) and 221(d)(4)
- How Tom’s team structures private equity
- Why Tom’s team likes the build-to-rent space
- Why you need to surround yourself with people who are smarter than you
Connect with Tom:
Website: http://www.richdoctor.com
LinkedIn: https://www.linkedin.com/in/tom-burns-9744304/Facebook: https://www.facebook.com/tomburnsmdThe following books were mentioned in the show:7 Steps to Creating Wealth on a Busy Schedule
Why Doctor’s Don’t Get Rich by Tom Burns
Rich Dad, Poor Dad by Robert Kiyosaki
Cashflow Quadrant by Robert Kiyosaki
Who Not How by Dan Sullivan and Dr. Benjamin HardyAtomic Habits by James ClearGoals by Brian TracyThe Gap and the Game by Dan Sullivan and Dr. Benjamin HardyThe Obstacle is the Way by Ryan HolidayHappiness Advantage by Shawn AchorAre you a real estate investor looking to elevate your income, freedom & lifestyle? If so, optimize your daily performance by downloading our free guide, Raising the Bar - 5 Steps to Elevate Your Habits, at elevatepod.com. In this guide, created by your host Tyler Chesser, you’ll learn why you do what you do, how to easily institute cues in your environment to trigger desired behavior, directly applicable steps to create a fulfilling future and much more.Get your free copy at elevatepod.com and kick-start your new habits today. Your future self will thank you!This episode of Elevate is brought to you by CF Capital, a national real estate investment firm. CF Capital’s mission is to provide property investment and asset management solutions to help investors like you maximize their returns by investing in high-value multifamily communities.If you are looking for risk-adjusted alternative investments in quality apartment communities, and are seeking tax optimized cash flow with appreciation upside without all the hassle of management, you might benefit from learning more about investing alongside our team.
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