S3, Episode 20- Cory Fawcett, MD- Stop Digging! [Cory Fawcett Blog, The Doctor’s Guide to Debt]

June 9, 2017

In this episode with Cory Fawcett, MD... welcome back to our monthly fireside chat with a physician to get to know their journey, their joys, and their struggles with finances and outside of finances.

This show is not always about actionable content. It is however a chance for you to see behind the curtains, to walk in another person’s shoes and experience their lives.

Our next guest is a man on a mission; to teach doctors how they can live healthy, happy, and debt-free lives–to regain control of their practice, their time, and their finances. He is making an effort to improve the lives of his colleagues.

His first book, The Doctors Guide to Starting Your Practice Right, is all about this mission. Helping doctors find their dream practice and get off on the right foot. His mission continues with the release of his second book, The Doctors Guide to Eliminating Debt.

The lack of surgeons in rural areas and his desire to work less led him to the decision to retire from his twenty-year practice, in a town with ten general surgeons, and assist in underserved areas. In February 2014 he began working part-time in rural Oregon towns with only one or two surgeons. With just one surgeon in town, the call burden of 24/7 availability is unsustainable. Dr. Fawcett provides them with a needed break from their pager, helping to keep rural surgeons healthy.

I can’t wait to hear about this journey!

Please help me welcome Dr. Cory Fawcett. Welcome Cory!

In this podcast, you will...

  • Discover why his parents didn't talk about money, but yet had an influence on being debt free
  • Learn how his grandparents inspired him to invest in real estate & the journey they had with debt
  • How he automated the process of real estate investing and managed 64 units while being a full-time practicing physician
  • Why he decided to turn over the properties to a property manager
  • The downfalls of property management (Hint: There's some activities that they can't do! Discover which ones inflated his costs)
  • Discover why he doesn't think residents should NOT get in real estate and rent instead & why he believes they will lose money
  • How he purchased properties with no money down and what he would do if he started all over again as a resident with $300k of student debt
  • Learn about the biggest financial mistake he made and how a real estate agent talked him into it
  • What he does with 'penciling it in' and how he makes good decisions about real estate that cash flows

Resources Mentioned In This Podcast

Cory Fawcett's Website and Blog

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The Doctors Guide to Eliminating Debt

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The Doctors Guide to Starting Your Practice Right

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