Finding Freedom – The Story Of Dr David Phelps


– [David] Freedom to me means doing what you want to
do when you want to do it and with whom you want to do it. I believe work ethic tied with leveraging one’s
opportunities in life is what brings these together. There’s five freedoms, money freedom, freedom of relationships, freedom of time, freedom of
purpose, freedom of health. Being focused on what
those freedoms look like for each person is very important, because then they can
actually drive towards those and figure out what are
the steps to get there and get there faster and not just hope that someday it happens
magically, because it won’t. I grew up in a family
of two other children, and my father was a physician and of course wanted to take care of us and made sure we had good
dental care among other things. Getting into braces when I, I believe I was, like, in the 4th grade. I went and had some teeth extracted and had the headgear appliance. Some may remember the big old headgear. My orthodontist was to me such a cool guy. What I mean by cool guy is he showed a genuine interest in me. So in my first year of dental school and I reach out to my dad, who had never invested in any real estate other than maybe his practice
or homes we lived in. I said, “Dad, I think,
you know, this may be “an opportunity to invest in real estate.” Dad had faith and said, “look,
I’ll put up the financing. “I’ll put up the down payment. “I’ll be your investor,
your capital investor. “You, David, being here in Dallas, “you’re gonna be the
managing, quote, partner.” So that’s the first joint venture. I’ve found that real estate made a whole lot more sense than this thing called stock
market or paper assets. It just, it just did. It was something that I feel like I could have some control over. I could exert some amount of control and do something of value, rather than just kinda playing a numbers game on Wall Street. So that’s where I went. I remember the day that I got the call. And that was the day, I
remember, in August, 2004, and I’m working on my office that day. I can even remember the
patient I’m working on. I can remember the assistant
that’s working with me. It’s one of those times in life where you can recall in vivid details, because it was such a momentous time. My daughter Jenna, who
was 12 at that time, was in end-stage liver failure. She had been put on a transplant list, and it’s just waiting for the call, the call with the day the
hospital says “we have a liver.” And that’s the call I got. And I realized then
that time was something that I could not compartmentalize. I couldn’t hold onto it. With all the money in
the world, I couldn’t, couldn’t fix an issue
that was out of my hands. And I made a decision there
in that hospital room, I am going to sell my dental practice. That day, really I’d say, changed everything for me going forward. What’s the worst-case scenario? If you make a certain decision, what is the worst-case scenario? Can you live by it? And what would be your
contingency or plan B? And my daughter Jenna, her sickness, her crisis of health, was what
caused me to pull the trigger and say I’m ready for plan B. Plan B was there, thankfully. Without a plan B, without the real estate that I’d built up over about 15 years and the passive income it provided for me that I didn’t have to work for every day gave me that freedom to make that decision to sell the practice. How can we do some resets on our model, take what we already know but maybe expand it
or widen the net, so– (applause) You all are an elite group for a reason. Most people didn’t really know
my story about real estate, because I kept that, I
kept that as a sideline. As I told the story about
real estate in some brevity, enough of these friends, you know, it could be just a small handful, said, “well, that’s really interesting. “Could you help me?” Fast-forward just a couple years and I got the idea that maybe
we invite more intentionally specific people who would like
to be a part of this group as a membership and learn,
again, from each other. I would say that your
network is your net worth, because people that you know, I spent 37 years building my network, and it’s like, well, why,
why shouldn’t I share this with other people who need the same help? (inspirational music) So a lot of times I get this
question, more times than not, is so what is this Freedom Founders? What do you do? People, I think, hear about the fact that we do real estate. We do real estate really, really well. There’s no such thing as a
guarantee in safety of anything, but I do everything I can
to make the opportunity for our membership great with real estate. And that’s a skill set that
our members take away with them for the rest of their lives and they’re passing on to their kids, how to actually orchestrate cash flow, sustainability, building wealth, and having intention and
knowledge about how to do that. Does it take some work? Yeah, but I believe
Freedom Founders provides what I call just-in-time information. You don’t need an MBA. You don’t need to go to school for years to learn about commercial real estate. We bring all that to them to get it done quickly and succinctly. I’m really big about surrounding yourself with the right kind of people in life, the people that have integrity, the people that you have a
real like-mindedness with, an entrepreneurial spirit. Those are the kind of people
that really give me energy. They really jazz me up so
I have the a-ha moments. Now they want to not only help
do that within their families and pass it on to their children, but also, you know, to their
colleagues, their friends. We want people with character. We want people who want
to give back in life, that want to focus on
getting their freedom so they can give more. And that’s what we have. And the transformation that’s happening, that we see in the lives
of the people who come, I mean, that’s what keeps
this thing going for me. It’s more about the
people, the people first. The investments are
important, but the people, yeah, they all have great businesses. They all have a lot of experience,
but what’s at their core? What’s their character about? And in a room like this,
when there’s trust, people will open up and talk about that. And that’s when you get
to see the vulnerability, because everybody’s vulnerable. Everybody has their weak spots, but what’s the integrity like? It’s not just about building
bigger and bigger businesses or making millions and
millions of dollars, but there’s always gotta be
purpose behind that, right? And you have to hear that, that
these people have families. They’re talking about, you know, legacy. We’re all building a legacy. I’m building a legacy;
you’re building a legacy. The question is are we
doing it intentionally, or are we doing it by default? What none of these other masterminds offer is the additional ROI,
return on investment, that we do at Freedom Founders. So we offer the high-level
thought leaders, the perspective, the feedback, the challenges, the opportunities, all of that board of advisory, but we also offer real estate,
highly curated real estate. Lastly, but very
importantly, set a deadline. The longer you wait, procrastinate
to make a tough decision, typically the worse it gets. So set a deadline; don’t procrastinate. You define your success and your goals as far as your dream is concerned, and what we do is we help
you speed to that goal. We provide a blueprint. It’s customized; it’s
individualized for each person, because everybody’s goals and where they are in life is different. We don’t do it for them. We do that with them, because when you’re part of a process, you believe in it, and it’s gonna be part of your DNA. Not building something for the
sake of building something, big, grow it big, big, big, no, no, I want something that’s
authentic, that really delivers and brings real transformation for people. That is what Freedom
Founders is all about. I think it’s easy for our
members to say, as they do, people who are with us today and people who have left
after three, four, five years, saying “one of the best
decisions I made in my life. “David, you and your
team, the other members “have transformed the
way I think in my life. “Everything looking forward
is totally different.” Families and spouses having new hope and a direction, a blueprint,
a pathway to get there, that’s what drives me, to know
we’re making a difference. We are having an impact.

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