Title: From High Income To High Net Worth For Dentists: The Ultimate Guide To Gain Freedom In Your Life With More Time Off, Less Stress, And Security & Peace Of Mind
Publisher: David Phelps International LLC
Publication Date: 2017
Language: English
ISBN 10: 0988674041
ISBN 13: 9780988674042
Binding: Paperback
Condition: Very Good
Dust Jacket Condition: No Jacket
Weight: 0.75 pounds

About this title

Synopsis

I was excited when I received the manuscript of this book to review. Private lending has created large amounts of wealth for many of my clients. Dealing with private money, as either the lender or the borrower, helped them grow their net worth so much faster and easier than if a bank had been involved. And private lending allowed them to survive “down” markets, when many people with bank financing go under. Single-family houses remain one of the safest investments out there, and this book shows how individuals can participate in ways that best suit their interests and abilities, very often with tax-free (or almost tax-free) cash flow and appreciation. This book also shines a spotlight on how government regulation and taxation are making it harder for an individual to create the wealth that will keep him or her from being dependent on government largess during retirement. If you are still wondering whether government actions are going to affect you, your retirement and your wealth, read Chapters 1 through 12 closely. If you already “get it” and are ready to implement ways to build wealth, start at Chapter 13, read through to the end and go right to work on building your own custom solution. The author who created this book doesn’t make his living writing books. I know—I’ve been his personal CPA for thirty years. Dr. David Phelps is a hard-working, insightful, experienced investor who is out there every day doing exactly what he teaches. I hope you enjoy and, most importantly, take action on the outstanding information in this book. John Groom, CPA AskJohnGroom.com

About the Author

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. After graduating in 1983, David – who also had a dental practice—began a steady and continuous progression of real estate education and investment. His goal was to create multiple streams of income that would provide for his family, for an emergency, for college tuition and for retirement. In 2004 David’s daughter, Jenna, then 12, was diagnosed with end-stage liver failure, the result of years of chemotherapy and drug therapy to treat leukemia and epileptic seizures. Jenna was fortunate to receive a liver transplant in time to save her life, but the recovery period was long and arduous. During this time David made the decision to become a true business entrepreneur, transforming his dental practice to enable him to spend more time with Jenna, whether she was sick or well. As a result of his new-found freedom, David began practicing dentistry part time and subsequently stopped being the “provider” of dental treatment. He ran his practice remotely for another six years before selling to one of the associate dentists. Today, 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. 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.

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