452 | The Truth About Passive Income: Debunking Myths & Real Estate Nightmares
In this episode, Chaz Wolfe is joined by Mike DeHaan, an engineer turned real estate entrepreneur. They discuss Mike's risk-taking mentality, the importance of passive income, and overcoming limiting beliefs. They also discuss the realities of entrepreneurship, strategies for profit in real estate, and the influence of '4 Hour Work Week' on Mike's journey.
Key Points
- Passive income should not be an excuse to avoid taking risks or hard work, as it often requires more effort to replace a high-paying job with passive income than it does to make significant active income.
- The skills learned in building a real estate business, such as marketing and sales, are transferable and can lead to success in other industries or ventures.
- Real estate investing can involve unexpected and bizarre situations, highlighting the importance of adaptability and problem-solving in the business.
Host Chaz Wolfe is joined by a real estate industry powerhouse, Mike DeHaan, Owner and podcast host of Collecting Keys. Together, they explore critical topics for anyone interested in real estate investing: -The misconceptions around passive income -Debunking common cash flow myths
- Sharing shocking real estate horror stories This episode is a must-watch for those seeking genuine insights into real estate investing, starting their journey in the industry, or looking for a mindset shift to engineer their dream life. Don't forget to subscribe, hit the like button, and leave a comment below. Your support helps continue bringing incredible guests like Mike to the show. Enjoy the episode!
Timestamps: 00:00 Introduction 01:37 Diving Deep into Real Estate with Mike Dahan 05:16 The Unconventional Path to Real Estate Success 13:13 Why your mindset around passive income is flawed 19:30 The Journey of Sacrifice and Success 21:08 Building a Community of Entrepreneurs 22:00 The Entrepreneurial Journey: From Sales to Real Estate Success 22:15 The Power of Budgeting and Financial Alignment in Marriage 22:52 Embracing the Entrepreneurial Mindset: Challenges and Rewards 23:59 The Realities of Entrepreneurship: Mental Health and Financial Freedom 24:57 Building a Supportive Community for Entrepreneurs 25:54 Cash Flow Myths 30:44 The Transformative Impact of 'The 4-Hour Work Week' 31:51 Unique Approaches in Real Estate: The Collecting Keys Podcast 35:24 Real estate horror stories 40:16 Connecting with Mike: Podcasts, Instagram, and Community 41:07 How to connect with Gathering The Kings
Recommended Resources (Affiliate Links May Be Used):Gathering The Kings Full Library of recommendations: https://www.amazon.com/shop/gatheringthekings/list/300QACPW0EMZ5?ref_=cm_sw_r_cp_ud_aipsflist_aipsfgatheringthekings_1C46721HEAM65EC1ENWD
The 4 Hour Work Week by Tim Ferriss: https://www.amazon.com/dp/0091929113?linkCode=ssc&tag=onamzchazwolf-20&creativeASIN=0091929113&asc_item-id=amzn1.ideas.300QACPW0EMZ5&ref_=aip_sf_list_spv_ons_d_asin
Let’s Connect!
Mike DeHaan: https://www.youtube.com/@collectingkeys Instagram: @mike_invests https://collectingkeys.com/
*Full link to Collecting Keys Animated Adventures: https://www.youtube.com/watch?v=OY5KRpizv94&list=PLBC2O8UBWPH1hffyqRdjEPY-kOJXO1gDU
Chaz Wolfe (Host): Linktree: https://linktr.ee/chazwolfe Website: www.gatheringthekings.com Facebook: https://www.facebook.com/chazwolfe/ Facebook: https://www.facebook.com/gatheringthekings Instagram: https://www.instagram.com/gatheringthekings/ LinkedIn: https://www.linkedin.com/in/chaz-wolfe-86767054/ Linkedin: https://www.linkedin.com/company/91415421/ TikTok: https://www.tiktok.com/@chazwolfe_kings Youtube: https://youtube.com/@gatheringthekings
For more information on Gathering The Kings Peer to Peer Mastermind Group: https://go.oncehub.com/TheExceptionalLife
If you liked this episode, please LIKE, SUBSCRIBE, drop us a REVIEW, and share with your friends. We appreciate you, and your support enables us to keep bringing you the goods on the show! #business #podcast #entrepreneur #entrepreneurship
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Transcript
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