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b'What does it mean to be truly financially free? In this episode, we\'re exploring how Mike Deaton went from being laid off to achieving financial freedom through real estate investing. He and his wife studied real estate investing in their newfound free time. They were committed to downsizing their lifestyle and had replaced their previous income with passive income from their investments within one year. He also discusses how they could qualify as real estate professionals, which allowed them to take advantage of tax deductions. He\'ll share the strategies for investing in multi-family properties, how to assess your personality, resources, and situation when investing in real estate, the importance of fear setting, and more. Join us as we explore Mike\'s inspiring story of achieving financial freedom through real estate investing.\\n\\xa0\\n[00:01 - 08:04] Opening Segment\\nHow Mike and his wife committed to real estate investing and achieved financial independence\\nDiversifying into commercial real estate, primarily multi-family investments\\n[08:05 - 12:28] From Unemployed to Financially Free: A Journey of Reinvention and Cash Flow Generation Through Real Estate Investing\\nMike in a program and found a coach to help with the journey\\nSet conditions for success, but adjusted as the business model became successful\\n[12:29 - 25:11] Exploring Passive Investing and Multi-Family Real Estate to Create a Passive Income Stream\\nInvesting $5,000 in property and selling it for $25,000 can yield high returns\\nOwner financing is often used when selling properties\\nFear setting can be used to explore worst-case scenarios\\nMulti-family properties are a good asset class due to the housing gap\\nSyndication models can be used to purchase more significant properties\\n[25:12 - 30:18] Closing Segment\\nMike\'s best investment: the land business\\nMike\'s worst investment: being an angel investor in a tech startup back in 2010\\nMost important lesson: do it with your eyes open\\n\\nQuotes:\\n"If you find a community that\'s doing what you want to do, you will accelerate your learning." - Mike Deaton\\n\\xa0\\n"The most important aspect of doing your due diligence is on the people that are involved in the deal." - Mike Deaton\\n\\xa0\\n"Success leaves clues." - Mike Deaton\\n\\nConnect with Mike!\\nWebsite. www.FlippingDirt.us\\xa0\\xa0\\xa0\\n\\nInvest passively in multiple commercial real estate assets such as apartments, self-storage, medical facilities, hotels, and more through https://www.passivewealthstrategy.com/crowdstreet/\\nParticipate directly in real estate investment loans on a fractional basis. Go to www.passivewealthstrategy.com/groundfloor/ and get ready to invest on your terms.\\nJoin our Passive Investor Club to access passive commercial real estate investment opportunities.\\nLEAVE A REVIEW + help someone who wants to explode their business growth by sharing this episode or clicking here to listen to our previous episodes.'