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Best Practices to Achieve Financial Independence QUICKLY, with Dr. Randy Lehman
Manage episode 344534092 series 3394108
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Meet Dr. Randy Lehman. At 33 years old, Dr. Lehman is already enjoying true financial freedom with his family. In this episode, he will share the best practices that helped him succeed as a doctor and real estate investor and gain financial independence quickly.
Dr. Lehman details the hyper-efficient habits that help him juggle medical practice and investing in real estate and dives deep into his minimalist lifestyle and how he tracks his net worth. We’ll also hear about ways to invest in real estate and Dr. Lehman’s mindset on leveraging to achieve financial independence quickly.
Key Points from This Episode
- Dr. Lehman is a 33-year-old Rural Surgeon.
- Two ways to define financial independence.
- Dr. Lehman’s greatest mentor.
- Creating a spread between what you make and what you spend.
- Leveraging the things that you’re buying.
- Get started by putting money away and start investing.
- The only way to afford to lose money is to get out of the paycheck-to-paycheck mindset.
- How Dr. Lehman graduated from residency with no debt and possessing cash-flowing assets.
- The house is the biggest problem.
- The initial steps to financial independence are to sell your house and slash your lifestyle.
- Being hyper-efficient allowed him to juggle medical practice and real estate investment.
- How living a minimalist life helps you achieve financial independence.
- Several ways to invest in real estate: tax liens, house-hack, industrial NNN commercial properties, and meeting the real estate professional status.
- Dr. Lehman’s “Leverage made simple.”
Tweetables:
“The house that you buy determines so many other expenses that you make.” [00:15:53]
“You’ve got to hack your life and hack your own personality to figure out what’s the most efficient way to carry things forward.” [00:21:33]
“What gets measured gets managed.” [00:26:53]
“No risk, no return.” [00:32:56]
Links Mentioned:
About Dr. Randy Lehman
Dr. Lehman is a Rural Surgeon in Winamac, Indiana, specializing in abdominal contents, including the esophagus, stomach, liver, gallbladder, pancreas, and often thyroid glands. He has been in practice for about ten years and is affiliated with Pulaski Memorial Hospital and Franciscan Health Rensselaer, Inc. He received his medical degree from the University of Cincinnati College of Medicine.
Dr. Lehman lives a minimalist lifestyle focusing on pouring money and capital back into his community and causes that he’s passionate about. He grew up in a farming community where he learned much about buying land and farms from his grandfather. His grandfather was very strategic about expenses
The main sponsor of our podcast is Rx Real Estate Investment. They make everything we do possible, and our conversations and interviews would not be available without their support. If you want to diversify your retirement portfolio and get into commercial real estate investing, working with Rx Real Estate Investment may be a great match for you. Check out the website at www.rxrei.com.
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