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

Displaying 351-375 of 485
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Understanding Cap Rate vs Cash on Cash Return
One of the issues first year dental students face is becoming familiar with all of the “dental lingo” involved. It took me a while to get comfortable with terms such as:     mesial/distal     apicoectomy     probing depth (PD)     loss of attachment (LOA)     exostosis This is no different when...  Read More
How To Create Passive Income With Self Storage Investing
Who would have thought that a pandemic causing a world to shut down would cause some businesses to fail and others to thrive such as the self storage industry. That’s right, . It seems that when American households couldn’t work and free money was sent to them via the government, their boredom was...  Read More
Influence Book Summary – The Psychology of Persuasion
If there’s one book that I’ve read that has helped me in ALL aspects of life (work, family and social), it would be Dr. Robert Cialdini’s . It’s also frequently mentioned on  as being on the interviewers favorite books. There’s something about both psychology and negotiation that has always...  Read More
Doctor Real Estate Investing: 4 Ways To FI
Who would have thought that a global pandemic in 2020 sending thousands of people to hospitals throughout the U.S. would cause ? Doesn’t make sense, right? You’d think the demand would now be higher but it seems that many hospitals have lost so much money that hiring new docs is next to impossible....  Read More
Qualified Purchaser vs Accredited Investor – What’s The Difference?
For the first 10 years of my career as a periodontist, I socked money away in the only investment opportunities I was familiar with….the stock market. This was due to my limited financial knowledge. At that time, the majority of our investments were in good ‘ole boring Vanguard index mutual funds...  Read More
What To Do If You’re Thinking About Quitting Dentistry/Medicine
I recently came across a post on a forum at  from a 34 year old dentist that made me do a double take based on the amount of views it had gotten (at the time over 35,000 views). Here’s what he posted: Don’t Worry, Be Happy My friend Dr. Jimmy Turner, , practices in a high stress field...  Read More
Financial Planning For Dentists In 7 Steps
“What happens if Washington votes to raise our taxes?” “Do you think all the stimulus money is going to cause inflation to rise?” Questions like these commonly appear in my inbox from members and honestly I can’t answer them (I don’t have a crystal ball). The government’s tax policy and the future...  Read More
3 Reasons Value Add Real Estate Investing Can Work For You
3 Reasons Value Add Real Estate Investing Can Work For You My dad’s father and uncle started a hardware store (Star Hardware) in 1941 that my dad still runs today. There’s nothing that I’ve ever seen that he couldn’t fix. (Maybe that’s why his nickname is “Mr. Fix-it“? Occasionally my wife and I...  Read More
Potential Real Estate Tax Loopholes Changes Doctors Should Know
[Editor’s Note: Today’s article is a guest post from a friend of mine that wants to remain anonymous. He’s a doctor that teaches other doctors about all types of money matters at . ] As a real estate investor, the Wealthy Doc understands that one of the MOST important benefits for investing in the...  Read More
What’s the Difference Between Earned vs Unearned Income?
What’s the Difference Between Earned vs Unearned Income? It wasn’t until about seven years ago that I started searching for income sources outside of my dental practice. It took a minor wrist injury while skiing to make me realize I was depending 100% on the practice’s income. Not a good plan to...  Read More
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
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
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
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