Episode 42

Achieving Elite Wealth and Wellness with Dr. Miranda Phillips

Dr. Miranda Phillips and her husband have successfully retired from their high-stress, high-responsibility emergency medical careers by building tax-advantaged passive income streams, allowing them to enjoy their time, health, and freedom.

In 2017, at the height of Dr. Phillips’ career as a life flight medical director and regional director of five ERs and a trauma center, she began to feel the very real effects of sleep deprivation. Although she loved learning and taking on leadership roles in every area of her career, her health and her family were suffering.

So, she began exploring passive income strategies, reaching out to mentors, and investing in large, multifamily real estate assets in pursuit of more free time. During this episode, she shares the story of how she went from an overworked, burned-out physician to achieving financial freedom through investing in real estate.

She is the co-founder of Elite Wealth and Wellness, where she and her husband help busy professionals achieve financial freedom and live a life full of passive income, health, and happiness. Her top tip to help you toward wealth is to obtain a deep understanding of passive income and pursue strategies that will help you quit trading your time for money.

Her best wellness tip is to prioritize personal needs and events (like sleep, kids’ events, personal development time, etc.) and actually schedule them on the calendar in time blocks.

[01:15] Dr. Miranda Phillips medical career and the ensuing burnout

[08:15] What led her to discover passive income

[10:21] How she got started real estate investing

[10:58] Her methodical approach to selecting an investment strategy

[13:13] How she and her husband found mentors and fast-tracked their investing knowledge

[15:47] The art of the first deal - a two-asset syndication fund

[18:15] How to find a reliable operator

[22:22] When and how to leap from limited partner to general partner

[28:06] Emphasis on the tax benefits of investing in multifamily real estate

[30:40] Elite Wealth and Wellness

[34:38] Her biggest tips toward wealth and wellness

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