Debt Free Dr
Debt Free Dr
To help other dentists obtain financial independence within 5-7 years by investing in passive real estate investments.
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DebtFreeDr
DebtFreeDr

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It didn't take long after completing dental school and a surgical residency to start getting hounded by insurance agents and financial advisors. I had no idea how many policies were needed to own a practice! Any way, the financial advisor recommended that I only work with him to ensure I'd be able...  Read More
Wealth vs Income – What’s The Difference?
Wealth vs Income – Is there a difference between the two? Here’s how most people think about wealth and income… It’s actually fairly simple-minded as it goes something like this:       Read More
How To Choose The Best Real Estate Asset Classes For Investing
Do you remember when you could order a burger and fries with no questions asked? Unfortunately, those days are long gone. If you tried  that in restaurants today, you’d get bombarded with questions such as:     what size burger – quarter pound? half pound?     what type of bun?     what would you...  Read More
Doctor Investing: How To Become a Millionaire in Real Estate
Research shows that 90% of millionaires do something specific to create wealth….invest in real estate. Even though doctors get a late start with tremendous debt, they still have an easier time reaching  due to a six-figure income.  So good news, if you’re a doctor or other high-income earner, then...  Read More
The Next Millionaire Next Door Summary
You may not be familiar with Dr. Sarah Stanley Fallaw, but you’ve probably heard of her dad, Dr. Thomas J. Stanley.  He was the author of one of my favorite books, the  which was the best selling personal finance book that yours truly read some 25 years ago. Sarah also knows a thing or two about...  Read More
4 Ways Passive Investors Can Calculate ROI In Real Estate
Unfortunately, the first time I invested in a , I lost the entire investment.  No, it wasn’t much fun but it did make me rethink how I evaluated property, especially the return on investment (ROI). If you don’t have a good grasp on calculating ROI in real estate then you’re setting yourself up for...  Read More
19 Habits Of The Wealthy vs Poor – Which Do You Have?
Think about where you are right now. If you’re a doctor or other high-income earner then more than likely you’re in the position you’re in because of personal habits. While friends were out partying in college; you chose to study instead.  In college, I got into the habit of studying a minimum of...  Read More
Multifamily Investing – 7 Reasons To Invest Now
Multifamily Investing Recently on , a 33 y/o dentist asked for investing advice in the Finance Forum. Honestly, what he’s accomplished since opening a scratch practice was impressive. He’s paid off his student loans, practice loans, car and house. I know doctors that get to the point that they’re...  Read More
17 Pros and Cons of Owning a Laundromat
I’ll admit. I take being able to clean our clothes at home for granted. Actually, I’ve never given it much thought after we bought our first home after renting for eight years. It’s nice not having to pack up dirty laundry and take it out to get cleaned. I love having our own washer and dryer but...  Read More
5 Reasons Why Doctors Aren’t A Prodigious Accumulator Of Wealth
I first heard the term, “prodigious accumulator of wealth” in 1996 while reading Dr. Thomas Stanley’s book .  If you haven’t read it then head over to  and get it now. Even though some of the statistics might be outdated, the basic wealth building principles collected while surveying thousands of...  Read More
10 Pros And Cons Of Owning An Apartment Building
10 Pros And Cons Of Owning An Apartment Building It takes a lot of time and sacrifice to become a doctor. If you’ve been practicing for a while, it’s easy to forget how many years you’ve put in to get to where you are. Whenever a new , I have to remind them about their career path.  You’ve gotten...  Read More
59 Wealth Building Quotes From The Richest Man in Babylon
Don’t let the date (1926) fool you into thinking that the book, , is still not relevant today. It and other classics such as Napoleon Hill’s  (1937), contain wealth building lessons that will NEVER go out of style.  The Richest Man In Babylon has gained tremendous popularity due to the fact that...  Read More
7 Ways To Evaluate a Real Estate Sponsor
One of the most frequently asked questions new  members ask is how they can go about finding the best real estate deals. If you’re not familiar with how the process works then yes,  that would be a good question to ask.  Except it’s not. When investing in real estate, especially as a passive...  Read More
10 Ways Doctors Can Become Real Estate Millionaires
[Editor’s Note: Today’s article in a guest post from Landon Murie, CEO of . His company helps property managers market their services.] There are hundreds of thousands of comfortably retired millionaires who got that way through rental property investing.  Here are 10 ways that rental property...  Read More
Depreciation Recapture – How It Works When Selling Property
One of the reasons that keeps people from getting started in real estate is the amount of new “lingo” that has to be learned. For me, it was similar going from college to dental school. The first couple of months sitting in lecture halls confused the heck out of us. It was as if the professors were...  Read More
The Importance of Time Value of Money
You’ve probably heard about the importance of time value of money. But do you know what it really means? One of the first people to coin the phrase “Time is money” was Benjamin Franklin in his book, “Advice to a Young Tradesman, Written by an Old One”. The original quote was:                   ...  Read More
What To Do With 50K: 10 Year Look At Passive Investing
What To Do With 50K Each Year – A 10 Year Look At Passive Investing I recently posed this question on which is the largest forum for dentists: “For those that have been practicing for 5+ years & knowing what you know now regarding finances and investing, what would you do differently if you could...  Read More
9 Ways To Vet The Best Real Estate CPA
One of the main reasons many high-income earners join the  is to seek out ways to lower their tax bill investing in real estate. Why? They’re tired of paying more and more of their hard-earned money to the IRS as their income continues to climb throughout their careers. The main goal of this...  Read More
How To Evaluate An Investment Deal In Real Estate
So you’ve decided that you want to get into passive real estate investing. Good for you. One of the reasons new  members choose to go this route is that they realize that investing the “traditional” way for 35+ years in a 401k doesn’t give them many options. Investing for cash flow NOW to replace...  Read More
The 7 Dave Ramsey Baby Steps Explained
The Dave Ramsey Baby Steps Explained If you enjoy reading and learning about personal finance, then it’s safe to say you’ve probably heard the name . Since the 90’s, The Dave Ramsey Baby Steps have helped millions of people  and start them down the path to achieving financial freedom. No matter how...  Read More
Is Becoming a Doctor Worth It? Why Doctors Don’t Get Rich
  I remember growing up watching Bill Cosby play Dr. Cliff Huxtable on the Cosby Show. There was one particular episode where he deliberately dressed in shabby clothes when purchasing a new car. He wanted to teach his kids that you shouldn’t ever dress like you’re wealthy when making large...  Read More
What To Do With 10 Million Dollars If It Fell In Your Lap
What To Do With 10 Million Dollars If It Fell In Your Lap There’s a Louisiana Lottery and Powerball electronic sign in between our house and church. Every Sunday morning after we leave church, my 13 year old and I play a game. As we pass the sign I ask him, “What would you do if you won the...  Read More
Living Below Your Means vs Expanding Your Means – How To Get Rich
Living Below Your Means vs Expanding Your Means It wasn’t until recently that I heard a podcast host mention that instead of focusing on living below your means, we should instead EXPAND them.  The majority of finance articles focused on  This principle is even listed as one of the main lessons in...  Read More
5 Outstanding Tax Strategies For High Income Earners
Do you want to lower your income tax bill? Who doesn’t? But the more money you make, the higher taxes you have to pay, right? Well, maybe not. Why do the ultra-wealthy like Donald Trump and  pay so little in taxes as compared to their income? It’s because they know how to play the tax game. Even if...  Read More
How To Invest 200K In Hassle Free Real Estate
How To Invest 200K In Hassle Free Real Estate A  due to the pandemic. We’d like to invest $200K in something other than the stock market. Can you help?” The March 2020 national shutdown caused many folks to take a step back and re-evaluate their finances. For some, it was a good thing as many...  Read More
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