Real estate investing for beginners - John MacGregor and Dr. Tom Burns

In this episode, host John McGregor sits down with Dr. Tom Burns, a former orthopedic surgeon turned successful real estate pro. They dive into the world of real estate, covering practical tips for navigating the ups and downs of the market for beginners.
Dr. Burns shares his experiences and the key ideas from his book, 'Why Doctors Don't Get Rich.' He explains how anyone facing financial challenges can benefit from the wisdom in the book. The conversation emphasizes the importance of learning the language of real estate, understanding why location matters, and the perks of owning an investment property, like steady income, tax advantages, and building equity over time.
They also talk about common mistakes people make in real estate investing and stress the need for persistence and determination to achieve success. Whether you're a seasoned investor or just starting, this episode offers actionable advice to improve your financial journey through real estate. Don't miss out on this insightful discussion that could reshape how you approach building wealth through real estate.
00:00 Introduction and Welcome
01:27 Introducing the Guest: Dr. Tom Burns
03:24 Dr. Tom Burns' Story of Buying the First Rich Dad, Poor Dad Book
07:10 Dr. Tom Burns' Transition from Medicine to Real Estate
08:21 The Real Story Behind High-Paying Jobs
09:48 The Future of Real Estate: A Macro Picture
14:17 The Impact of Interest Rates on Real Estate
15:46 The Concerns of Trillions in Commercial Real Estate Debt
17:55 The Current State of the Banking Sector
18:16 Opportunities in the Real Estate Market
18:53 The Importance of Timing in Investments
19:40 Getting Started in Real Estate Investing
21:31 Understanding the Benefits of Real Estate Investment
25:09 The Process of Evaluating a Property
27:13 Common Mistakes in Real Estate Investing
28:11 The Power of Persistence in Real Estate Investing
31:11 Overcoming Self-Sabotaging Beliefs
32:25 Connecting with Tom Burns
33:06 Closing Remarks and Future Plans
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Disclaimer: The information provided in this video is for educational and informational purposes only. It should not be considered as financial advice or a recommendation to buy or sell any financial instrument or engage in any financial activity.
The content presented here is based on the speaker's personal opinions and research, which may not always be accurate or up-to-date. Financial markets and investments carry inherent risks, and individuals should conduct their own research and seek professional advice before making any financial decisions.

[@DeadXManXsXStare]

"Life is waves, so life runs in cycles"
He's the only guy other than myself I've ever heard use this line of reasoning. Simple, but deeply accurate

[@ozc804]

You see these are the type of conversations I like to listen to , rather than listen to all the BS that's being spread throughout the mainstream media . Great PODCAST FULL DISCLOSURE 👏🏻 👌 👍 🙌🏼

[@crismar8714]

Thanks guys, very interesting story from Tom, for his real estate concepts happening right now, excellent information, congratulations to both of you! I like your RUclips channel 🙌🏻 greetings

[@johnmacgregor3106]

Thank you so much! Very much appreciated! Take Care!

[@jamesfraundorf4183]

This is great thanks!!

[@johnmacgregor3106]

You're welcome!

[@JennaJenna555]

Thank you Jenna

[@AdityaMajumdar-vi1kt]

Please make more of this content

[@suntoiastacey8098]

Very informative! Thank you very much, guys! Just what I needed to hear to take the leap!!

[@fredkim01]

Amway... is?

[@paulclever7967]

For the average investor, the stock market is the best tool for long-term wealth creation.
Still, many people can't take advantage of it because they are trying to make quick money from the stock market. I put about $280k into the market and held good positions.

[@johnq748]

Good progam

[@Loc69]

They should teach financial education in school systems

[@johnmacgregor3106]

Agreed! But they won't. A financially educated society cannot be controlled! It's all by design

[@Zk8et]

Is anyone here in amway?

[@nolaenglish659]

What would you advise an 18 year old kid to do if he wants to get started in real estate. Should he start with a college degree? If so what sort of degree?

[@johnmacgregor3106]

Thanks so much for your question. If real estate is your thing, I would not go to college. There are so many inexpensive resources to get you started. Start with Tom Burns Book. i would also check out Ken McElroy. He has a great podcast and an excellent book, The ABC's of Real Estate. It's all you need! Keep me posted!

[@nolaenglish659]

@@johnmacgregor3106 Thank you!

[@silverfoxfinance]

I was waiting for his book pitch lol
Amway tho, yikes

[@johnmacgregor3106]

What's the point of writing a very informative book if you're not going to push it to the world?

[@raptorjesus959]

You need money if the bank says that will only put up to 50% of the loan for the property. That only happens on USA and maybe some other country...

[@OliverDliam]

To my understanding Success depends on the right actions and steps you take to achieve it. And taking the right opportunity.
Real estate or crypto?

[@vedpatel2001]

Talk more about indian real estate

[@h3cz_]

Idk man. I don't think anobody wants to invest in a mud hut.

[@PranavPandey650]

First comment

[@raptorjesus959]

"Robert Kawasaki" xDDD

[@mohammadraza2167]

Real Estate success 10%
Real Estate failure 90%
Reason: wrong location

[@DeadXManXsXStare]

Or wrong contractors
Or wrong lenders
Or wrong loan terms