FBF #743: Changing Careers, Learning Curves and Much More - with Tom Burns

Real Estate Investing for Cash Flow with Kevin Bupp

Today's Flash Back Friday Episode id from #318 that originally aired on April 13, 2021.

Tom Burns is a surgeon and Real Estate Investment Expert.

Tom is an orthopedic surgeon in Austin, Texas. He is a graduate of the University of Texas at Austin and Southwestern Medical School in Dallas. He received sports medicine training at the prestigious Steadman Hawkins Fellowship in Vail, Colorado and he is a physician for the United States Ski Team. He has over 25 years of real estate experience, both locally and internationally, involving acquisition, development, and management of multifamily, student housing, land, manufactured housing, and medical office projects.

In addition to his real estate experience, he has co-founded, managed, and sold a free-standing, full-service hospital. Tom was a member of the Forbes Real Estate Council and is listed in the acknowledgment section of Robert Kiyosaki’s book, Rich Dad Poor Dad. He is frequently featured in nationally circulated print articles and popular real estate-oriented podcasts and has spoken to thousands of fellow physicians about how to achieve financial independence.

Quotes:

“HUD is very nice once you get it put together. In fact, you get 40 years and 20 months of fixed-rate, because you can get 20 months of construction financing.”

“Go work for someone that’s doing it and find out if you really like it, and you start learning there because it’s a big learning curve. Sometimes I go to bed at night and wish I could just buy something finished and cash flow it like the old days. But it’s got its rewards. It does feel good to take a piece of dirt and have a big hit.”

Highlights:

1:42- Tom talks about his background and how he found his way into real estate

6:00- The first properties Tom bought

10:34- Tom shares what his real estate business looks like today

16:36- Tom's big challenges and how he overcame them

22:54- Tom's most challenging deal and how he handled it

Connect with Tom Burns:

https://richdoctor.com/

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