If you spent over a decade training to become a surgeon, would you give it all up after only 6 years of practice? For most professionals, it’s a no-brainer, but not Buck Joffrey. When a nagging feeling of pursuing entrepreneurship hit him, he set up a business to transition fully from being a physician to an investor. Since then, he continues to build 7 to 8 figure businesses remotely. Given his professional background, he made it his mission to provide financial education for high earning professionals through his podcast, The Wealth Formula. On this episode, he shares tips for investors and syndicators, how to build a track record, and the Wealth Formula.
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Key Market Insights
A surgeon for roughly 6 years turned entrepreneur
Finished surgical training in 2008
Started multiple 7 to 8 figure businesses since then
Currently holds a substantial portfolio of investments in real estate, energy, internet, and health sector
An international #1 bestselling author of Several Secrets To Eternal Wealth
Financial educator for high paying professionals
Host of The Wealth Formula podcast
Owns medical businesses including a behavioral health clinic in Chicago
Other Passive Income Streams: Real Estate Investments, Insurance Products, Syndication Business
Helps facilitate people investments through joint ventures
Tips for Investors: Get to know the team before looking at the track record
Syndication is the business of raising capital
The Wealth Formula: Wealth = Product of Mass, Velocity, and Leverage
Mass is money you put into an investment; Velocity is how quickly you get your money back, and Leverage is using other people's money
Tips for Syndicator: Find multiple groups that compliment what you do
How to Build a Track Record: Identify your customer, and build a database; Build your brand; Market; and Give, give, give before you ever take
The Poor Middle Class vs The Ultrawealthy: Poor Middle Class invests in stocks, bonds mutual funds; The Ultrawealthy, invests directly through multiple businesses and real estate
Key to Significant Amount of Passive Income is multiple businesses - generate income to invest in real estate
Phoenix Market - tremendous amount of growth; emerging industries, landlord-friendly laws
Texas Market - huge developments, tax-friendly, landlord friendly
Atlanta for Southeast Market - very fast growing market
How to choose a market: Follow opportunities such as possible business and population growth
Bull’s Eye Tips:
Winning Your Market: Only invest with people you know and trust.
Tracking Marketing Changes: Constantly pay attention. Follow the news, follow the money.
Daily Habit: Meditate.
Resources:
Text “Wealth Formula” to 41422 - Get a free copy of Seven Secrets of Eternal Wealth
Seven Secrets of Eternal Wealth by Buck Joffrey
Book Recommendation:
Get a free copy: Text "Forget IRA" to 41422
Digital Resources
Tweet This:
"80-90% percent of the battle is learning who you can trust."
"Your business is not going to last unless you have happy customers happy"
"Align yourself with the right people."
Places to Grab a Bite:
Connect with Buck:
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