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How to Build Passive Income Streams

My son and investment partner, Josh Mettle, has a new podcast:  Physician Financial Success, which teaches physicians how to avoid financial landmines.  Dr. David Phelps teaches professionals how to stop trading time for dollars and transition from earned income to passive income.  The two of them got together for this really great podcast.

I’m a “retired” attorney, which makes me kind of an odd bird.  When I got ready to retire, I then had a full time crazy-busy law practice and I co-owned and self-managed 70 houses and apartment units in my “spare time” with the help of my daughter-in-law.  I called the Bar and asked if there was some kind of a checklist or roadmap for how to wrap up a practice and retire.  Apparently, attorneys don’t retire, they just have heart attacks and die.  I wanted to skip that part!  So I had to invent my own off-ramp.

Dr. David Phelps seems to have systemized it.

If you have a secret desire to transition from the billable hour to passive income, it’s worth 30 minutes to listen to these two smart investors discuss the process.

It’s like dessert without the calories!

P.S.  You can sign up for Josh’s new podcast at iTunes if you want to hear more great investment advice while you walk your dog or commute to work 🙂

  • I just came across your blog while googling. Lots of good information. My husband and I recently turned our first house into a rental property, so we’re still learning the ropes of real estate investment.

    bridget b. @623Designs

    May 22, 2014

  • Fabulous! My very best advice is to run a credit check. You can do that through your local Apartment Association for a low fee. You want to see “as agreed” “as agreed” “as agreed” down that right hand column. That tells you the applicant keeps their contracts. If you see “30 days late” “charge off” “collection” down that right hand column, they do not qualify to rent from you. That will save you from MOST of the landmines in this business. Good luck!


    May 27, 2014

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