Real estate investor breaks down three types of freedom: time, place, and financial. They buy rental properties across the U.S., hire local managers to run them, and collect monthly deposits without visiting the properties.
Now, I really think of freedom as three different types. You have time freedom, you have place freedom, and you have financial freedom. All three of those are equally important. But once you get the financial freedom, since I don't need to show up in my 8 by 10 blue cubicle, I'm able to set up my own schedule and not just travel anywhere. But really, it's a lot of those little things that's part of the time freedom I have and then the place freedom. What I do is I invest in real estate. All of the real estate I invest in is out of state. It's out of my local area where I have property managers that oversee say, eight properties in this US City and six properties in this US City. The managers manage it for me, and therefore I am just the asset manager over my property managers. I get a monthly email statement from them whether they're in Dallas or whether they're in Tampa. And that's my life. I get income in my bank account automatically collected by those property managers and deposited into my account. Most of these properties I have never even seen.
Physicians and High Earners — What Real Estate Can and Can't Do for Your Taxes
