Radical Wealth Plan: "I Work 4 Days a Week and Make a Million Dollars a Year"

Podcast: Radical Wealth Plan (Entrepreneur Media)
Host: Paul Morris
Guest: Doug Pitts
Date: March 10, 2025

Episode Overview

In this inspiring and practical episode, host Paul Morris interviews Doug Pitts—a powerhouse Realtor and investor who built immense wealth and freedom through consistency, discipline, and radical clarity. Doug shares how he’s worked only four days a week for years while earning $1M+ annually via real estate sales, investment properties, and successful flips. The episode is a goldmine for real estate professionals, budding investors, or anyone seeking a purposeful, lucrative life.

Key Discussion Points and Insights

Doug's Origin Story & Real Estate Journey

• Early Path: Entered real estate at age 20 after leaving college, guided by a career class test (03:43).
• Motivation: Left college to avoid working for someone else; drawn by real estate’s meritocracy (04:03).
• Catalyst Incident: Parents bought a house through another agent early in his career—fueling Doug’s drive ("No one’s going to give you an easy ride" – 06:42).
• Work Ethic Roots: Lessons in discipline and hard work from growing up in the restaurant business (07:39).

Prospecting, Discipline, and Building Success

• Old-School Lead Gen: Door knocking, cold calling, and rejecting “floor time” in favor of active prospecting (09:31–11:03).
• Scorecard Habit: Created a daily prospecting scorecard for door knocks, calls, and mailings—reviewed weekly by his manager (18:24–19:41).
• Results: Became top producer within a year by focusing on volume and consistency over immediate payoffs (19:41).
• Systemization Over Sophistication:
  • “If you work eight hours a day truly prospecting, if you have a semi-good personality, you’re going to make it.” (19:50)
  • "Everything works with consistency." (16:29, Interviewer)

Attitude Toward Clients & Motivation

• Client Mindset: Seeks highly motivated clients; quickly lets go of “maybe someday” prospects (14:34).
• Managing Listings: Will accept overpriced listings if there's motivation, but is quick to fire toxic or time-wasting clients: “If you show them five houses and they're the best houses out there and they go, not even close, then you got a problem.” (28:18)
• On Rejection: Early rejection and disappointment fuel rather than deflate drive (06:28).

Practical Sales and Listing Strategies

• Listing Approach: Uses a 21-point checklist with clients, always asks "How much do you think your house is worth?" and seeks to clarify motivation immediately (21:32–22:56).
• Dealing With Price Conflicts:
  • Open to taking listings at inflated prices as long as there’s motivation or an agreement on timeline for price adjustment (23:20–24:31).
  • “I tell people...if we don’t get an offer in two weeks, then it’s overpriced.” (24:22)
• Buyer Management: Demands loyalty up front, will “fire” 60% of buyers who aren't committed (29:22).
• Marketing Properties: Varies outreach by property type—targets renters for lower-priced homes and affluent neighborhoods for luxury properties (34:01).

Investing and Portfolio Growth

• Investing Early: Bought first house at age 20, inspired by family (41:58).
• Scale of Holdings: Now owns around 70 doors, including single families, fourplexes, and units in multiple states (42:43).
• Biggest Regret: Not “going big” with more leverage or larger acquisitions when younger (44:12, 79:23).
  • “Not going big when I was younger. I regret it severely.” (44:12)
• How He Buys: No partners except for select deals; prefers full ownership for control and simplicity (44:49).

Flipping as a Systematic Business

• Deal Sourcing:
  • Spends heavily on advertising, leverages franchise ownership, plus local networking, and wholesalers (50:43).
  • Offers low, closes only when margins are right; now averages 10% profit targets (53:01–54:32).
• Process & Systems:
  • Standardizes every aspect—from kitchen choices to flooring and paint. “Same sink, same faucet...not reinventing.” (60:46)
  • Manages projects and property himself, using checklists and tech for efficiency.

Work/Life Design, Boundaries, and High Output

• Work Schedule: Fervently protects weekends, works four days per week, and never hesitates to set boundaries (62:18–62:37).
• Balance: “At my age I want to have fun or make money—one of the two. Period... Making money is fun.” (68:28–69:11)
• Purpose & Energy:
  • Motivation comes from client happiness and a job well done, not just commissions (32:31).
  • Recognition, fulfillment, and freedom are priorities.

Notable Quotes & Memorable Moments

• On Rejection as Motivation
  • “The biggest part of my story...my mom and dad bought a house through someone else. From that point on, I knew...no one's going to give you an easy ride.” (06:42 - Doug Pitts)
• Success Formula
  • “If you have a semi good personality, you’re going to make it... If you don’t like people, don’t get in sales.” (19:50 - Doug Pitts)
  • “Everything works with consistency. If it’s not sustainable, it’s not effective.” (16:29 - Interviewer)
• On Investing
  • “Not going big when I was younger. I regret it severely.” (44:12 - Doug Pitts)
  • “You can’t save your way to wealth.” (73:10 - Paul Morris)
• Mindset and Boundaries
  • “I work four days for sure. I take the weekends off forever. I will not work a weekend in my life.” (62:18 - Doug Pitts)
• On Money as Positive Force
  • “People always made money into evil...But working hard and making money, that's a good thing.” (69:46–70:16 - Doug Pitts)
  • “Money provides opportunity. Money is a function of value creation.” (70:45–70:48 - Interviewer/Co-host)
• Focus and Purpose
  • “At my age, I want to have fun or make money. One of the two. Period.” (69:11 - Doug Pitts)
  • “Most realtors get ready to get ready. That's all they do. Walk out the door and hit a door!” (74:44 - Doug Pitts)

Timestamps for Key Segments

• Doug’s Start & Parents’ Rejection: 03:43–07:06
• Hard Work and Early Prospecting: 07:39–11:03
• Scorecard System: 18:24–19:41
• First-Year Breakthrough: 19:41–20:17
• Listing & Presentation Strategies: 21:32–22:56
• Managing Difficult Clients & Firing Buyers: 27:21–29:22
• Mailing & Client Management: 29:45–31:21
• Investment Portfolio & Philosophy: 41:58–49:28
• Flipping Systems and Profit Math: 50:39–57:29
• Work/Life Balance & 4-Day Workweek: 61:15–62:37
• Mindset on Money, Value, and Legacy: 68:28–73:10
• Lightning Round/Q&A: 77:08–81:30

Key Takeaways

• Consistent, Disciplined Action Beats Flash: Doug’s results come from daily prospecting, a strict scorecard, and rejecting distractions (“get ready to get ready”).
• Old School Works, If You Work It: Direct outreach, genuine client interactions, and diligent follow-up beat expensive leads or “magic bullets.”
• Know and Play to Your Strengths: Doug designs a business model that fits his personality, energy, and preferences—whether that’s door knocking or setting boundaries with clients.
• Systemization = Freedom: Standardizing everything (from flips to prospecting) allows scale, efficiency, and the 4-day workweek.
• Invest Early, Take Calculated Risks, and Go Big When You Can: Doug’s biggest regret is not leveraging bigger in his 20s and 30s.
• Balance and Boundaries: Fiercely guards personal time, showing you can still dominate in real estate (or business) without burning out.
• Money Is a Tool For Impact & Options: Making money is about freedom, family, philanthropy, and creating value, not hustling for its own sake.

Final Thought

Doug’s career exemplifies that radical wealth—and life satisfaction—come from a relentless focus on simple, repeatable actions, authentic relationships, and living with intention. Whether you’re new to sales, aspiring to invest, or looking to design your own 4-day workweek, this episode overflows with real-world tactics and wisdom.

Connect with Paul Morris, learn more about Doug Pitts, and dive deeper into Radical Wealth Plan through the show notes and links below.