In today’s show, Pancham interviews surgeon turned investor, Dr. Tom Burns.
Do you know what the term “Butterfly effect'' means? There is a complicated definition of this but here is a simplified version of it. Butterfly effect means that a small change can make much bigger changes happen; one small incident can have a big impact on the future. The term “butterfly effect” comes from an analogy where a butterfly flaps its wings in Chicago and a tornado occurs in Tokyo.There is a famous movie named “Butterfly Effect” that is based on this concept.
Anyway, why am I talking about the butterfly effect? The reason is that there are these small events that happen in your life that can have a major impact on your future. Sometimes you do not realize the impact at that moment in time but it is only years later when you look back, you can actually connect the dots. Do you have any such events that have altered the course of your life?
Well, I am super excited to have Dr Tom Burns who will share with us his butterfly effect story.
Tom is an entrepreneur and an orthopedic surgeon in Austin, Texas. He is currently a physician for the United States Ski Team and travels worldwide with them. He has over 20 years of real estate experience involving acquisition, development, and management of traditional multifamily, student housing, office projects and manufactured housing. In addition to co-founding and managing a free-standing full-service hospital, he has owned and developed property locally and internationally and has participated in the acquisition and development of over $250 million of real estate.
Tom has been financially independent for a decade. His mission is to help physicians create financial independence so, like him, they can enjoy medicine with the passion.
To learn more about Tom’s story, and much more, tune in to our latest show now…
Timestamped Shownotes:
- 00:38 – Understanding the “butterfly effect” in simple terms
- 01:57 – Tom’s background information
- 03:18 – From being a surgeon to real estate investor ; how a yearning for a better work-life balance inspired Tom to make the transition
- 08:08 – Tom shares how he ended up buying the first 1,000 books of Rich Dad, Poor Dad!
- 14:30 – How did Tom manage to set up his real estate business while
- 16:10 – Tom shares how he bought his first student housing property for no money down
- 18:41 – What is Tom’s work schedule like right now?
- 19:53 – How has COVID-19 affected Tom’s business? Tom shares how he has planning for a recession for 3 years now
- 24:24 - Taking the Lead Round
- 23:33 – When was the first time Tom invested outside the Wall Street?
- 24:30 – What fears did Tom have to overcome when he first invested outside the Wall Street?
- 25:58 – Can you expect one investment that did not go as expected?
- 27:50 – What is one piece of advice you would give to people who are investing outside of the Wall Street?
- 29:50 – Tom shares some interesting details about his forthcoming doctors, “Why doctors don’t get rich”
- 32:16 – Tom shares his contact information
3 Key Points:
- The many pitfalls of a high-paying career
- How Rich Dad, Poor Dad changed my perspective towards life
- How to kickstart your real estate business while working a your W-2 job
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