Finding Infinite Freedom with Eric Francom

Introduction (Eric Francom discusses finding infinite freedom)

In this interview, Alan Olsen, CPA, MBA discusses teaching business success with Dr. Eric Francom. Dr. Eric Francom is an Angel Investor, wealth mentor, speaker, podcaster, and author.

Transcript:

Eric Francom

A lot of people invest in stocks and bonds and retail products, but they don’t get into the part of a portfolio that tends to make the most money for the ultra wealthy and the Yale endowment funds the successful endowment fund.

So it’s nice to have the really tried to help people to learn in a short amount of time, in my platform called the infinite freedom. We have a mastermind group where I help accredited investors, so people that have a million dollars or more of net worth, or they make two to $300,000 a year or more, depending on how they do their taxes.

And if they fit into that criteria, then the government says that they’re allowed to invest in these alternative investments that are seen as being somewhat more risky. But in reality, I feel like most of the things I invest into have a lot more upside compared to its risk. It seems less risky to me in a way.

So we teach people, the investments that I’ve gone through to go over concepts, we bring in specialists, and really try to accelerate their learning so that they can do what a lot of investors in that space have done, but they can learn it in a fraction of the time with a fraction of the money.

Alan Olsen

Welcome to America, Dreams are busy here today with Eric Francom. And Eric. It’s a pleasure to have you on today’s show.

Eric Francom

It’s great to be here. Thank you, Alan.

Alan Olsen

So Eric, you know, you operate in the space of angel investor and wealth mentor and all sorts of good things I want to get to bed before getting there. You went through it very unique career transition.

And I’d like you to walk us through what you studied in college got a degree in and certification, and then what led you to where you are today?

Eric Francom

Yeah, sure. Well, I have always pretty much wanted to be a doctor. And I’ve business has fascinated me as well. And so when I was thinking what kind of doctor I wanted to be, I saw that dentists have a little bit more ability to do some of the business as well.

So I had did a Bachelors of integrative studies with an emphasis in Chemistry and Business and zoology and went to dental school. And, you know, it’s funny, I joke with my kids now and I tell them, you know, you guys can do whatever you want to do when you grow up after dental school.

So, for me, that was a little bit of that as well. I went through dental school and and I enjoyed helping people. But I wasn’t balanced as well as I should have been, I was working too much. I was too focused on the debt from student loans and practice debt and different things.

And, you know, I, I was actually the Tony Robbins conference of all places, he came and spoke to a bunch of dentists. And he just talked about how he works because he wants to not because he has to, and people that don’t have that don’t even know the difference. So I thought I want that.

And I later found out that about 50% of dentists wish that they picked a different career path. I don’t know how different that is compared to other professions. But, you know, like, I, I’m glad to be pivoting and helping people in a different way.

I’m helping dentists and other professionals to be able to get the same freedom that I’ve been able to be blessed to have.

Alan Olsen

Well, you’re, after spending a period of time as a dentist, then you decided to transition.

Eric Francom

Absolutely, to the to the investment world, and I was doing that as a dentist, but I finally got to the point where I sold the practices and said this is this is my new thing. This is what I’m gonna do as my primary passion project.

Alan Olsen

What, what influence did your family have on your career switch out of dentistry,

Eric Francom

you know, families can be scared of change. I married a beautiful, wonderful woman who’s a therapist, and her dad was a general in the army. He grew up, you know, he had a predictable paycheck his entire career and on into retirement, that same paycheck. And so her dealing with an entrepreneur is a little bit scarier.

So I had to overcome some of those fears. And I did that somewhat by paying ourselves regularly out of our, you know, like, bigger funds so that it was trickling in and a cash flow away. But, you know, she’s doing what she loves.

I’m doing what I love, and it’s worked out very, very well. I get to spend a lot more time with with the kids especially.

Alan Olsen

Would you call yourself retired or redeployed right now?

Eric Francom

Well, she she tells me I’m too young to be retired, she sometimes uses it and I think redeployed is a much better word.

And, you know, we’re meant to, to create in my group is called infinite freedom, and it’s about having financial freedom to unlock the freedom of our relationships and adventure and the things that really we want to do so we can progress and Things can continue on, like our portfolios can help people even after long gone.

So, yeah, it’s about having freedom, not about being the couch potato. And, you know, just now that the lower levels of the Maslow’s hierarchy of needs are covered, I’m blessed to work on some of the higher levels.

Alan Olsen

You know, you do some angel investing, and also some wealth mentoring, which is categorize yourself first, as an angel investor, or, and then a wealth mentor, or vice versa,

Eric Francom

you know, I’d have to be, you can’t give away something that you don’t have. And if I wasn’t, you know, being the investor and proving the concept day in and day out, then I wouldn’t have the moral authority to help others to do that.

So I really enjoy doing it. You know, people probably tell me once or twice a week, I hear somebody say, Man, I just love your energy. And I can’t think of one person that ever told me that as a dentist.

So I think I’m in my zone of genius a little bit more, at least for now, I’d love to get some dental practices at some point and to teach and mentor in that regard. But yeah, I’m an I’m an investor first, and then I help other people to get the same freedoms that that have been created by the passive income from these investments.

Alan Olsen

In in the in the world of investing, there’s been a lot of volatility recently, and and I think markets have been more illiquid. What, what’s your take on where we’re at right now?

Eric Francom

Yeah, you know, I, I think that volatility is where the cream can rise to the top faster. And, you know, it’s, there’s never really been a better time, since I’ve been investing to invest in some of the private equity and venture capital type companies right now, because they are at a discount.

You know, real estate, I think, is still pretty expensive. But in an unofficial market, outside the stock markets, I’ve had, you know, really good success getting good values on companies and, you know, finding just disproportionate returns compared to pretty high risk tolerance as far as risk protection.

Alan Olsen

Now, you, you’ve delved into real estate also,

Eric Francom

I do I’m in real estate, have you ever had several single family rental houses invested in some syndicates of storage, that kind of thing? I have some of my own commercial warehouse and strip mall type things locally.

Alan Olsen

How did you? How did you negotiate a $2 million building with no down payment?

Eric Francom

Well, I guess that’s one, one man’s trash is another another man’s treasure. And there was a package of a strip mall that had this big huge building that nobody was using, it was essentially a condemned building.

And they were wanting to sell everything is a package and the building scared everybody off, where I did the math and saw that it was cash flowing well, without that big building, just pretended that it just wasn’t even there with the purchase price that I was able to negotiate down.

And I got it to where the lien didn’t even need to be on that building. So I literally owned the building outright, it appraised, you know, about a million and a half, and that rose up to 2 million.

And so it’s it’s a little bit to get it re going with fire suppression and just bringing it up to code in that, but have tenants that are just thrilled to be in there. And it’s turned into a very good, you know, cash flowing thing, and it’s a can’t be the purchase price of zero.

Alan Olsen

Well, congratulations on that. So you’ve delved into alternative investment special, by definition, what is an alternative investment?

Eric Francom

Sure, they’re their investments that are off market, they’re going to be the things outside of the public stocks and bonds that you would see. So, you know, venture capital and private equity.

You know, that’s essentially what most people are talking about, what’s an alternative investments, a lot of people, you know, include real estate into the group as well.

But a lot of people invest in stocks and bonds, and retail products, but they don’t get into the part of a portfolio that tends to make the most money for the ultra wealthy and the the Yale endowment funds and the successful endowment funds. So it’s nice to have the balance of of all,

Alan Olsen

Where can someone learn more about how to invest in these types of investments? Well, there’s,

Eric Francom

you know, a lot of articles out there. Certainly, as far as you know, Forbes and and, you know, entrepreneur and a lot of the magazines are talking about the shift the smart money’s shifting over there. You know, I that’s what I really try to help people to learn in a short amount of time in my platform called infinite freedom.

We have a mastermind group where I help accredited investors, so people that have a million dollars or more of net worth, or they make two to 300,000 versus a year or more depending on how they do their taxes.

And if they fit into that criteria, then the government says that they’re allowed to invest in these alternative investments that are seen as being somewhat more risky. But in reality, I feel like most of the things I invest into have a lot more upside compared to its risk, it seems less risky to me in a way.

So we teach people the investments that I’ve gone through go over concepts, we bring in specialists, and really try to accelerate their learning so that they can do what a lot of investors in that space have done, but they can learn it in a fraction of the time with a fraction of the money.

Alan Olsen

And one thing you will that you teach is that of taxpayers for certain types of investments,

Eric Francom

you know, that’s, that’s the fastest return that some people can get. It’s an instant return. And sometimes it’s the best return you can get.

You know, there’s, if you look at a $30,000, savings and taxes per year, linearly, that will save you $900,000, over 30 years.

But with the power of just even modest compounding interest, it’s really more like 15 million, so helping people too, you know, I’ve heard a friend say, I’m totally fine, do my patriotic, patriotic duty to pay my taxes, but I don’t need to leave a tip. Sometimes we can pay taxes in the form of paying the IRS cash.

And sometimes we do it by following the guidebook that the IRS has given us saying, hey, we want the country to create more jobs and to create more buildings to preserve, you know, Land and Minerals and different things.

And so, you know, as investors, we can spend some of our sweat equity, if you will, to pay in that way, for some of our tax.

Alan Olsen

In a you’ve used the phrase post lottery lifestyle, what what is that?

Eric Francom

Well, the only thing I don’t like about lottery is that it it makes it sound like it’s more of a lock, something that you didn’t create. But the concept of the Publishers Clearing House always, you know, threw me off when I was a kid.

I thought that was needed to talk about you could make what, five or $10,000 a week for the rest of your life, and then pass that along to somebody after you’re gone, that they can have, you know, five or $10,000 a week for the rest of their life.

And, you know, so I tend to up that a little bit and just say, hey, what would your life be like, if you just had $20,000 A week coming in? Always, what would your life be like and and we identify the gaps between where somebody is right now, and where they would be at that point.

And we help them to create that lifestyle, and to really make it a reality.

And for a lot of people that comes a lot sooner than they would think, as they get investments that are paying large amounts, a lot of our members are paying getting paid five, or even six figure checks monthly in the distributions from their regular payments on investments.

And that’s how we get people connected with their lottery that they create themselves.

Alan Olsen

So, you know, when you’re looking at investments, a lot of people want to focus on downside protection. But then they want the upside return of like what a venture capital fund will do. Does such an investment exist?

Eric Francom

You know, it sounds too good to be true, right? I mean, that’s what we all want, right? But it really can exist in these less efficient markets in efficient markets, it’s not going to exist in the stock market, it’s too efficient, there’s a lot of money there. And it’s just overvalued, in my opinion, for most things on the stock market.

So there are investments where you can invest in a company, for instance, there’s one that I’m invested into, that is an incubator accelerator that’s creating tech and hard tech solutions to a lot of problems.

They were given a government grant to say, basically, hey, we’re gonna give you a 55 year lease for this 300,000 square foot building, that you’re basically paying no rent on, you can rent it out for whatever you want.

And they rent it out at $110 a square foot, and their clients who they only take 8% of the applicants into their place because they have more people wanting in there than they have capacity for. And so the investment into that place was about the same as the price of the lease for the building itself. 55 year lease.

And so if something went bad, we have that lease that could sell to a big company, and they would buy it and the investor should be made whole. So there’s a high floor to that investment.

But they’re also partnering with the best of the best of these companies that come through and they’ll take about a quarter of the company to really take them to the next level and help them to become unicorn type companies.

So with the protection of real estate that has $110 a square foot, which is essentially all profit than they can still take advantage of the upside of potential unicorns.

Alan Olsen

Eric, if someone wants to reach out to you for wealth, mentorship, or to follow up on what you do now, how would they contact you?

Eric Francom

You can go to Ericfrancom.com And there’s free materials that people can look at, that you can preorder my book, infinite freedom that’s coming out, you could schedule a chat with me.

I’d love to talk to people that are interested in doing this kind of a thing and see if the Euro fit that you can apply to be a part of the mastermind group to partake of the same investments that are helping 100% of our members that are really taking good advantage of it. So yeah, the website would be the best way.

Alan Olsen

Excellent. Well, Eric has been pleasure having you with us today.

Eric Francom

So good to be here. Thank you so much, Alan.

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